The PRODUCT

A Foundation is an ideal vehicle for succession planning and private wealth management. It is the dedication of property to an entity to be used for the benefit of people for a specific purpose.

A Foundation is in many respects similar to corporate entities but afford the protection and continuity derived from the use of trusts. It has no members or shareholders, and is generally established to reflect the wishes of the founder, who may be an individual or a corporate entity. These wishes are contained within the Foundation’s Charter and Regulations.

Foundations can be established for a fixed or indefinite period of time and can be used for charitable, commercial or family purposes.

Foundations are a very important component when structuring the ownership of family and corporate assets and are generally important where trusts are not generally recognised. It is increasingly being used across the globe, especially in civil law jurisdictions where the concept of trusts is less well known.

The Mauritius Foundations Act 2012 offers one of the most versatile and dynamic Foundations available from any jurisdiction and further promote the jurisdiction as a platform for wealth management services, succession and estate planning.

A Foundation may upon application to the Financial Services Commission of Mauritius, hold a global business licence and may elect to be tax resident in Mauritius to benefit from the wide network of Double Taxation Agreements (“DTAs”) in force in Mauritius.