Offshore Foundations

The Foundation is an ideal vehicle for succession planning and private wealth management. It is the dedication of property to an entity to be used for the benefit of people for a specific purpose.

The Mauritius Foundations Act 2012 offers one of the most versatile and dynamic Foundations available from any jurisdiction and further promote the jurisdiction as a platform for wealth management services, succession and estate planning.

Foundations are well suited to individuals less familiar with the concept of private trusts, or reluctant to relinquish all involvement in the management of assets. The activities that a foundation can carry out are wide ranging and flexible in that they can be created to bear resemblance to either trusts or companies.

A foundation is created when either one or more natural persons or legal entities, referred to as the ‘Founder(s)’ formalise a document known as the ‘Foundation Charter’, whereby they undertake to make a donation to be used for the benefit of people (i.e. ‘the beneficiaries’) for a specific purpose. The foundation acts through its council, which is a body charged with the administration of the foundation’s assets and the attainment of its objects.

Uses of Foundations
  • To protect family business providing continuity to second and third generations.
  • To own family businesses thus avoid inheritance taxes.
  • To act as a sophisticated and efficient substitute of the testament or will thus avoiding complicated inheritance procedures.
  • To avoid forced-heirship rules.
  • To act as a vehicle for owning shares, interests and stocks of private companies while maintaining confidentiality of ownership.
  • For asset protection and tax efficient tax planning.

Advantages of foundations include:
  • Popular with those not familiar with the concept of trusts.
  • Allows individuals an element of control over how assets are managed through the appointment of a guardian.
  • Separate legal personality so that it may enter into contracts in its own right.
  • More flexibility in than it can be established to reflect the characteristics of either a trust or company.
  • The foundation council is not accountable to the beneficiaries.

Our services include:
  • Establishment of Mauritius foundations.
  • Will act as the qualified member of a Mauritius foundation.
  • Provision of council members to act as the foundation council.
  • Drafting of foundation regulations to meet the client’s specific requirements.
  • Accounting services.
  • Offer holding companies or private trusts to hold foundation assets.
  • Provision of statutory services.

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