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Mauritius as a Global Fund Centre
Since its inception as an International Financial Centre in the early 1990s, Mauritius has emerged as the optimal jurisdiction for structuring cross-border investments into Asia and Africa, particularly India and China. Mauritius is also an established offshore fund jurisdiction with an internationally recognised but pragmatic regulatory environment and extensive double tax treaty network making it a domicile of choice for offshore funds. As at 30 November 2007 there were 553 Global Funds in Mauritius with a Net Asset Value of US$ 49.467 billion.
India-focused global funds domiciled in Mauritius can avail tax benefits under the India-Mauritius Double Taxation Avoidance Agreement, which partly explains why Mauritius remains the largest source of Foreign Direct Investment (FDI) in India, accounting for USD10 billion of the USD25 billion FDI inflows into India from 2005 to 2007.
Collective Investment Scheme
A Collective Investment Scheme ('CIS' / Offshore Fund / Global Fund) is defined under the Securities Act 2005 as a scheme constituted as a company, a trust, or any other legal entity prescribed or approved by the Financial Services Commission in Mauritius:
- whose sole purpose is the collective investment of funds in a portfolio of securities, or other financial assets, real property or non-financial assets as may be approved by the FSC;
- whose operation is based on the principle of diversification of risk;
- that has the obligation, on request of the holder of the securities, to redeem them at their net assets value, less commission or fees; and
- where the participants do not have day to day control over the management of the property, whether or not they have the right to be consulted or to give directions in respect of such management.
Global Fund Services
OCRA Mauritius is a dynamic, innovative and committed global fund services provider, our Fund Services team has particular expertise in setting up and administering collective investment schemes / offshore funds. We provide a full complement of value-added offshore fund services specially suited to each client's needs as no two fund clients' requirements are identical.
We work closely with our offshore fund clients to ensure the ongoing quality, efficiency and service level of our global fund services. As a global fund service provider we are both proactive and reactive to support our offshore fund clients' evolving needs. By entrusting the day-to-day administration of their offshore funds to us, our global fund clients can focus on their raison d’être which is investment par excellence, a craft best performed without the distractions of routine back office operations. Although our primary focus us is on the set up and administration of global funds domiciled in Mauritius we can also provide offshore fund administration services to offshore funds registered elsewhere.
Our managers at OCRA Mauritius are seasoned professionals such as UK qualified certified accountants and chartered secretaries having substantial experience in the global business sector. In order to ensure clients' expectations are met in terms of quality and service, each offshore fund client is assigned a dedicated relationship manager/senior administrator, who can be contacted directly and with whom the fund client can develop an excellent working rapport. Another named member of the Fund Services team shall be the dedicated secondary administrator to ensure seamless back-up on the client fund should the dedicated primary manager/senior administrator be on leave. Furthermore our directors are always available for abnormal queries or to solve any problems that may arise.
Within OCRA Worldwide, our offshore fund set up and ongoing administration services are offered exclusively by our office in Mauritius. Please contact us should you be interested in our fund services.
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