Our services offering in Mauritius

  • Corporate and fund structuring
  • Incorporation and administration of SPVs
  • Directorship
  • Company secretary and registrar
  • Registered office
  • AML/CFT and FATCA/CRS services
  • Listing services and security trustee
  • Trademark registration
  • Winding-up and insolvency
  • Escrow services
  • Redomiciliations
  • Registration of Intellectual Property
  • Fund accounting and bookkeeping
  • NAV calculation using best-in-class business systems
  • Preparation of financial statement under IFRS, US/UK and LUX GAAP
  • Co-ordination and follow-up of audit process
  • Outsourced – accounting services and administration
  • Capital call and distribution
  • Family office
  • Wealth planning and structuring
  • Trustee services
  • Private Trust Companies
  • Foundation services
  • Tax health check and related services
  • Legal review services
  • Compliance and financial due diligence
  • Global headquarter
  • Ship registration
  • Office facilitation
  • HR, recruitment and payroll

Our product offering in Mauritius

Funds, usually investment funds are regulated by the FSC in Mauritius, under The Securities Act 2005 and the Securities (Collective Investment Schemes and Closed-End Funds) Regulations 2008 which provide for a consolidated regulatory and supervisory framework.  Fund can be either a Closed -End Fund or Open Ended (Collective Investment Scheme).

A GBC, previously known as Category 1 Global Business Licence Company or GBC1, is a company engaged in qualified global business and which is carried out from within Mauritius with persons all of whom are resident outside of Mauritius.

The business of a GBC is conducted in a currency other than the Mauritian rupee.

A GBC is a company resident in Mauritius for tax purposes and benefits from non-double taxation treaties which Mauritius has entered into with several countries.  In order to qualify for treaty benefits, the GBC must establish its tax residency in Mauritius and must demonstrate that central management and control of the company is located in Mauritius.

GBC is generally prohibited from dealing with local residents except with the special approval of the FSC.

An AC was previously known as a Category 2 Global Business Licence Company or GBC2.  It is a company which conducts business with persons all of whom are resident outside Mauritius and in a currency other than the Mauritian rupee. An AC is a suitable vehicle for simple activities such as international consultancy and investment and property holding.

An AC is deemed not to be resident in Mauritius and is therefore tax exempt. AC not being resident for tax purposes eventually has no access to the network of Double Taxation Avoidance Treaties of Mauritius.

Permissible activities that may be carried on by an Authorised Company are:

  • Non financial consultancy
  • IT Services
  • Logistics
  • Marketing
  • Shipping & Ship Management
  • Import and Export
  • Passive Investment Holding
  • One off transaction using a Special Purpose Vehicle

A PCC is a company incorporated for the purposes of carrying out a global business to segregate its assets into different cells within that company, with a view to protect each cell from any extension of liabilities from one cell to the other.  The share capital of the PCC is constituted of cellular and non-cellular shares. This structure allows an additional protection to shareholders and creditors through ring-fencing.

A Limited Partnership is a combination of both a partnership and a private limited liability company, allowing owners to operate as a partnership with a separate legal personality. LPs are commonly used for funds as well as by professionals such as lawyers, accountants and consultants. LPs may be established to carry on any lawful business in Mauritius or from within Mauritius both with persons in and outside of Mauritius. The business and affairs of the LP are conducted in accordance with its partnership agreement.

LPs are subject to the Limited Partnership Act 2011 and the Financial Services Act and Securities Act, when operating as a fund with a Global Business Licence.

A domestic company, also known as a local company, is an entity incorporated under the laws of Mauritius by the Registrar of Companies and governed by the Companies Act 2001, the Business Registration Act 2002 and the Income Tax Act 1995, amongst other legislations.

A domestic company can deal with both residents and foreigners.  Each domestic should procure a Business Registration Card from the Registrar of Companies.

A trust is created when the owner of property (Settlor) vests the legal ownership of the property to another person (Trustee). The Settlor may appoint a Protector who can have wide powers to control the administration of the trust. The Settlor may give a letter of wishes to the Trustee as guidance to his wishes during his lifetime or after death.

A Trust can a discretionary trust, charitable/philanthropy trust or purpose trust.

A trust is a legal arrangements used for various purposes such as asset protection, inheritance planning and wealth management.  A person called a settlor transfers property or assets, to the Trustees, in accordance with terms of the trust deed, for the Trustees to hold and administer either for and on behalf of specified beneficiaries or for specific purposes or both.

The Trust a governed by the Trusts Act 2001 of Mauritius.

Uses of Trusts

  • Succession planning
  • Accumulation and preservation of wealth
  • Investment, asset protection
  • Tax planning
  • Wealth management

Trust Services offered by SANNE Mauritius:

  • Trust establishment and administration
  • Opening and operation of bank accounts
  • Cash flow forecasts
  • Record keeping & accounting function
  • Preparation of financial statements in statutory format and causing audit
  • Ensuring all activities are in line with Trust deed
  • Arranging for administrative (agreements and application forms) and treasury (timely funding) aspects of investments
  • Liaising with service providers in different jurisdictions to ensure compliance with applicable laws

Conducting due diligence in compliance with AML laws and providing requisite platform for reporting requirements under FATCA

A Foundation is a hybrid vehicle which combines the benefits of a company with those of a trust.

Foundations are geared towards clients not familiar with trusts or those who wish to use a legal entity for their activities while retaining the advantages and flexibility of a trust.

Foundation services offered by SANNE Mauritius:

  • Establishing the foundation
  • Providing a business address
  • Providing council members
  • Maintaining statutory records and executing statutory obligations
  • Handling accounting and financial reporting
  • Providing cash management, compliance services, and FATCA and CRS services

A PTC is a company incorporated for the purposes of acting as corporate trustee to a single/specific family trust or to a limited number of related family trusts. Instead of appointing a professional trustee, it allows the settlor to have his own “trust company”.

The PTC is highly attractive to HNWIs and families who wish to structure their assets in one of more trusts without losing control altogether as is usually the case with discretionary trusts.

Uses of PTC:

  • used by families for wealth planning purposes and succession planning from one generation to another;
  • help to protect the assets of the family;
  • maintain family control through presence of family members and/or their advisers on the board;
  • carry no trustee liability compared to corporate qualified trustees;
  • efficiency and flexibility of decision. Board often comprises family members and advisers who can take decisions quickly whereas corporate trustees may require professional advice before taking major decisions as the trustee may not have necessary skills;
  • no specific legal regime;

flexibility – can either be a GBC or an AC GBC2, depending on client’s requirement.

High Net Worth Individuals (HNWI) have needs for more complex planning and family offices are established to centralize the management of their affairs at one focal point. There is not just one definition of a family office.

A family office can be a single-family office which supports only one family or a multi-family office which supports at least two families.

A family office is normally set up as a privately-owned company and supports wealthy families with the management, organisation and maintenance of their wealth.  It can be designed in such a way so as to address the needs of the present family and for future generations.

The family office maintains the family legacy (inheritance), so that the ownership of the family’s core business and wealth is not fragmented over generations.  It blends the senior members of a family with the younger generations to be involved in the business by working with trustees and advisors for example.

The family office is designed to fit around the existing investments of a family and be flexible to evolve with the family investment strategies for generations.

It can be set up as a private company, trust or foundation and can be complemented by a PTC.

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Meet our colleagues in Mauritius

We are a team of experts who take pride in our professionalism, innovation and quality. We are here to assist you.

Our People
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Rubina Toorawa Head of Sanne Mauritius - Mauritius
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Dr Ramakrishna Sithanen Chairman - Mauritius
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Varounen Goinden Director, Head of Business Development, Mauritius & India - Mauritius
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