Level 3, Alexander House, 35 Cybercity, Ebene, Mauritius
Tel: (230) 403 0800 Fax: (230) 403 0801 Email: intercon@intnet.mu

Offshore Trust in Mauritius

Offshore trusts are legal structures used for wealth management purposes. Essentially property or assets are transferred by the Settlor of the Trust to the Trustees, as per the terms laid out in a Trust deed, for the Trustees to hold and administer for and on behalf of specified beneficiaries. The essence of the concept is the separation of legal and beneficial ownership: i.e. the property is legally owned by the Trustees but is held and administered for the benefit of the beneficiaries. (This often has the benefit of circumventing anti-avoidance tax legislation normally passed by high tax countries.)

Some important features of Mauritius Offshore Trusts:

Mauritius has very advanced Trust Law and provides for the formation of life interest trusts, discretionary trusts, fixed interest trusts, purpose trusts, charitable trusts, protective trusts, asset protection trusts etc.

Other important features of Mauritius Trust Law include:

  1. Offshore Trusts are not required to pay tax in Mauritius
  2. Trusts are not required to be registered in Mauritius. There is also no requirement for the Trustees to disclose the identity of the beneficial owners to any authority. *(Under exceptional circumstances, a trustee may be required to give confidential information to authorisedpersons under anti-money laundering, prevention of terrorism or prevention of corruption legislation or under the Financial Services Development Act 2001.)
  3. There are no Government or statutory fees for Trusts
  4. Trusts in Mauritius have a 99 year perpetuity period
  5. The forced heirship rules of other states will not be enforced by Courts in Mauritius.
  6. A Trust may only be declared void by a court of law where the creditors of the settlor can prove beyond reasonable doubt that the intention of the settlor in creating the trust was to defraud existing creditors. No action may be brought by the creditors more than two years from the transfer of assets into the trust.
  7. Appointment of Protector is permitted.
  8. Offshore Trusts are accordingly excellent tools and are normally used for tax planning, estate planning or asset protection purposes. Please contact us should you require further information or advice on the setting up of an offshore trust.

 

Intercontinental Trust has one of the largest contingents of registered Society and Trust Estate Practioners (STEP members) in Mauritius.


 
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