Investment Funds in Mauritius
Mauritius has developed into a premier jurisdiction for investment fund formation, offering an internationally competitive regulatory framework under the Securities Act 2005 and the Financial Services Act 2007. The Financial Services Commission (FSC) provides a robust yet flexible regulatory environment that attracts fund managers from around the world.
As a gateway to both Africa and Asia, Mauritius occupies a unique position for fund structures targeting emerging markets. The island's extensive network of double taxation agreements (45+), combined with an effective tax rate of just 3% for Global Business Companies, makes it an ideal domicile for international investment funds.
Fund Types Available
Open-End Fund
Investors can subscribe and redeem at any time based on the fund's NAV. The VCC structure is ideal. Suitable for liquid asset classes.
Closed-End Fund (CIS)
Subscriptions during an offering period only, with limited redemption thereafter. Ideal for PE/VC, real estate, and illiquid investment strategies.
Professional Investor Fund
Restricted to qualified professional investors, with simplified regulatory requirements and greater investment flexibility.
Specialized CIS
For sophisticated investors with even more flexible investment rules and higher minimum investment thresholds.
Legal Structures for Funds
| Structure | Best for | Key features |
|---|---|---|
| GBC | International funds | DTA access, 3% effective tax, FSC licensed |
| VCC | Open-end funds | Variable capital, umbrella structures |
| PCC | Multi-strategy funds | Segregated cells, asset ring-fencing |
| Limited Partnership | PE/VC funds | Tax transparency, familiar to investors |
| Unit Trust | Retail funds | Trustee-managed, unit-based |
Fund Service Providers
A Mauritius-based fund requires the following service providers:
- Fund Manager — Licensed by the FSC to make investment decisions (CIS Manager license)
- Fund Administrator — Handles NAV calculation, investor services, and reporting
- Custodian — Safekeeps fund assets, typically a licensed bank
- Auditor — Independent audit of fund financial statements
- Compliance Officer — Ensures ongoing regulatory compliance
- Management Company — Provides corporate administration and substance
Fund Setup Process
- Strategy definition — Define investment strategy, target investors, legal structure, and service provider selection
- Documentation — Prepare offering memorandum, constitutive documents, investment management agreement, and subscription documents
- FSC application — Submit application for CIS license with all required documentation and business plan
- Company formation — Incorporate the fund vehicle (GBC, VCC, PCC, or LP) with the Registrar of Companies
- Regulatory approval — Obtain FSC authorization (typically 4-8 weeks)
- Launch — Open for subscriptions and begin investment activities
Why Choose Mauritius for Your Fund?
- Tax efficiency — 3% effective corporate tax rate through the partial exemption regime
- DTA network — Access to 45+ double taxation agreements, particularly with African and Asian countries
- Regulatory credibility — FSC is internationally recognized; Mauritius is not on any blacklist
- Operational flexibility — Multiple fund structures and investment strategies permitted
- Time zone advantage — GMT+4, bridging Asian and European/African markets
- Cost efficiency — Lower setup and operational costs compared to major fund domiciles
- Gateway to Africa — Strategic hub for investment into the African continent
Sunibel Fund Services
Sunibel Corporate Services Ltd provides comprehensive fund formation and administration services in Mauritius. As an FSC-licensed Management Company, we offer fund setup, corporate administration, compliance, and ongoing management services. Contact us to discuss your fund project.