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 31 December 2011 there were 829 Global Funds in Mauritius.
Mauritius Global Fund
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 (e.g a limited partnership) prescribed or approved by the Financial Services Commission(FSC) 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.
- includes closed-end funds whose shares or units are listed on a securities exchange; but
- excludes such schemes as are specified in Part II of the Schedule SA 2005.
A Closed-end Fund means an arrangement or a scheme, other than a CIS, whose object is to invest funds, collected from investors through an offer or from sophisticated investors, in a portfolio of securities, or in other financial or non-financial assets, or real property.
A "Global scheme" is defined under the Securities (Collective Investment Schemes and Closed-end Funds) Regulations 2008 ("Regulations") as a company or any other legal entity approved by the FSC, holding a Category 1 Global Business Licence (GBL 1) and authorized to carry out activities falling within the definition of a Collective Investment Scheme.
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.
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.
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.
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.