A Trust is a legal arrangement under which a person (the Trustees) holds property/rights for the benefit of the Beneficiaries.
A Trust in Mauritius is governed by the Trust Act 2001 and may be established as Discretionary Trust, Purpose Trust, Asset Protection Trust and Charitable Trust.
The main uses of a Trust include asset protection, succession planning, estate planning and tax planning.
The Trust may elect to be resident or non-resident in Mauritius for tax purposes. A resident trust is taxed at 15% in Mauritius and may benefit from the network of Double Taxation Avoidance Agreement.
The Trust will not be registered in any public registry in Mauritius and enjoys the degree of confidentiality.
Trust may hold a Global Business Licence in order to benefit from the network of Double Taxation Avoidance Agreements.
The Foundations Act 2012 allows for the incorporation of Foundations in Mauritius.
Foundations have hybrid features of a trust and a company but are more appealing to clients based in civil law countries who are less familiar with the concept of trust.
A Foundation may be used, inter alia, for private wealth management, succession planning and estate planning.
A Foundation may hold a Global Business Licence and may elect to be tax resident in Mauritius in order to benefit from the network of Double Taxation Avoidance Agreements.