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The Mauritius Financial Services Commission (FSC) has released a set of rules under the Special Purpose Fund (SPF) regime to provide further flexibility and ease access to new markets. The rules provide flexibility and global competitive cost structures.
The 2019/2020 Mauritius National Budget included the modernising of the existing Special Purpose Fund (SPF) regime to provide further flexibility and ease access to new markets. The objective of the upgraded SPF rules is to offer a tax-exempt entity having economic substance in Mauritius to further attract international fund promoters and managers wishing to avail of modern securities laws and overall fund logistics with globally competitive cost structures. This benefits both manager and the investor with respect to the set-up and ongoing operations and maintenance of fund structures.
The upgrading of the SPF regime is a welcome initiative for the investment funds industry with the Mauritius IFC expanding the range of competitive financial products and services, making it a destination of choice for cross-border investments.
To read the FSC consultation paper, click here.
Over the past two decades, Mauritius has established itself as an International Financial Centre (IFC) of high repute, a jurisdiction of substance with a sound platform for investment funds. Mauritius is known for its state-of-the-art infrastructure, modern and innovative legal framework and ease of doing business regime. With its knowledge and proximity to the Indian market, in addition to being a natural hinterland for Africa, Mauritius has seen sizable inward and outward investments from Asia into Africa.
The regulatory and legislative framework has constantly evolved in line with global requirements and continues to offer a safe, secure and world-class platform for LP’s and GP’s looking to set-up operations in the jurisdiction.
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Sanne can assist with full end-to-end services including structuring of the SPF, facilitating set-up and licensing and on-going administration of your SPF. We would be delighted to speak with you to discuss how Sanne can assist. For more information please contact Rubina Toorawa or Varounen Goinden.
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