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Mauritius Global CIS Fund

Mauritius is a fast growing international financial center for structuring of offshore funds and their administration. These Funds can be effectively used for investments by worldwide investors. The Securities Act 2005 and the rules and regulations made under it allow for the creation of Collective Investment Schemes.
The investment business of the company is regulated under the Securities Act 2005 (as amended in 2007) and by the “best industry practices” rules set out by the Financial Services Commission (FSC).

About Mauritius Global CIS Fund

The Global CIS is a fully-regulated CIS, and they are funds which are essentially meant for the public. This CIS normally does not hold a Category 1 Global Business license, and is not entitled to any of the exemptions generally provided to fund.

Mauritius Global CIS Fund Legal Requirements

Requirements Description
  1. Applicable legislation
Securities (Collective Investment Schemes and Closed-end Funds) Regulations 2008
  1. Supervising Authority

Financial Services Commission of Mauritius

  1. Corporate vehicle permitted

The entity making the application is a Mauritius GBC 1 holding a Global Business Category One License (GBL1).
A CIS maybe registered as a:

  • Company
  • Limited partnership
  • Trust
  • Foundation
  1. Share capital or equivalent
    • Minimum subscription
    • Minimum investors


  1. Directors / Partners / Trustees
    • Minimum number


    • Corporate Directors / Partners / Trustees allowed


    • Local Directors / Partners / Trustees required


  1. Fund functionaries required
    • Custodian
      • Custodian required
      • Local custodian required


      • Eligible custodian

A custodian shall be a bank, a trust company which is subsidiary of a bank or a trustee of a trust and which shall have and maintain a minimum stated unimpaired capital of Mauritian rupees ten million or an equivalent amount.

    • Fund manager / Investment manager
      • Fund manager required
      • Local fund manager required


      • Fund manager requires to be licensed


      • Eligible fund manager

Fund manager must be licensed and shall be a company which is incorporated and have its place of business in Mauritius;


A licence issued by a regulatory body in a jurisdiction having comparable regulation as Mauritius for investor protection.

    • Fund administrator
      • Fund administrator required
      • Local fund administrator required


      • Eligible fund administrator
Fund Administrator is subject to approval by the commission
    • External auditor
      • External auditor required
      • Local external auditor required


      • Eligible external auditor

Qualified local auditor must be appointed.


The auditor must be approved by the Financial Reporting Council (FRC).

  1. Asset Requirements
    • Restriction on type of asset class invested


    • Asset diversification requirements


    • Limitation on size of the fund or total assets under management


  1. Local physical office required


  1. Prospectus / Offering Memorandum required to be filed


  1. Eligible for listing


  1. License fees
    • License application fee

USD 1,000

    • Annual license fee

USD 2,500

  1. Estimated license processing duration

3 months

Ongoing Obligations

Requirements Description
Monthly obligations
Office Required
Quarterly obligations
Annual obligations
File its audited financial statements and tax return within 12 months from its balance sheet date.
Other obligations
  • Maintain all the conditions set in the license approval letter at all times
  • Maintain 2 resident director in Mauritius at all times
  • The CIS manager where appointed, shall be responsible for ensuring that the provisions of the CIS Regulations applicable to expert funds are complied with
  • Maintain a CIS administrator with a place of business in Mauritius
  • The Board or CIS Manager must on board clients that they are satisfied are expert investor
Tax Obligations and Other Exemptions
Requirements Description
Business Tax

GBC1 companies renamed as Global Business License (GBL) (as of 1 January 2019) are liable to tax at the rate of 15%.

Profits derived from global trading activities are taxed at a reduced rate of 3%.

80% of the foreign-source income derived by a collective investment scheme (CIS), closed-end fund (CEF), CIS manager or CIS administrator is exempted from income tax.

No credit is be allowed on foreign source income where the 80% exemption has been claimed

Tax Residency in Mauritius
A company incorporated in Mauritius shall be treated as non-resident if its place of effective management is situated outside Mauritius, but shall still be required to submit a return of income in Mauritius
Corporate Social Responsibility
Companies may continue to contribute 50% of CSR (instead of 75%) to the MRA provided they receive approval from the National CSR Foundation
Capital Gains Tax
There is no capital gains tax on dividends and interest paid to non-residents.

Benefits of a Mauritius Global CIS Fund:

  • Ease and speed of establishment
  • Flexible structuring of the entity
  • Favourable compliance restrictions
  • Friendly regulatory environment
  • No exchange controls restrictions