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Whether you are expanding internationally, structuring investments or exploring innovative financial products, Safyr Utilis is here to support you with insight, precision and trusted expertise. Let us help you navigate today's evolving business landscape and unlock new opportunities with confidence.

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Corporate Structure

Global Business Company (GBC)

Considering an offshore structure to support your international business goals?

A Global Business Company (GBC) is one of Mauritius's main corporate structures for global business, offering a high degree of confidentiality and flexibility. A GBC is tax resident in Mauritius and, subject to meeting the prescribed substance requirements, may benefit from Mauritius's extensive network of Double Taxation Avoidance Agreements (DTAAs).

While its core business must be conducted outside Mauritius, a GBC is allowed to carry out a portion of its activities locally. This structure is particularly attractive for businesses seeking to leverage Mauritius's tax treaty network while maintaining operational flexibility.

GBCs are versatile vehicles, commonly used for:

  • Investment holding (example: Special Purpose Vehicles – SPVs)
  • International trading
  • Other cross-border business activities
Corporate Structure

Authorised Company (AC)

Looking for a flexible offshore structure without tax treaty considerations?

An Authorised Company (AC) is another key corporate structure available in Mauritius for global business activities. Unlike a GBC, an AC is generally considered non-resident for tax purposes in Mauritius and is therefore not subject to Mauritian income tax. This structure is typically used in cases where access to tax treaty benefits is not required.

ACs offer the same high degree of confidentiality and flexibility as GBCs, making them an attractive option for businesses that don't need to leverage Mauritius's tax treaty network. The choice between a GBC and an AC often depends on factors such as the nature of the proposed activities and the target markets.

ACs are versatile vehicles, commonly used for:

  • Investment holding (example: Special Purpose Vehicles – SPVs)
  • International trading
  • Other cross-border business activities
Wealth Management

Trusts

Looking for a reliable way to protect your assets and plan for the future? A Trust could be the ideal solution. Widely used in wealth management, it is a flexible and effective wealth management tool that involves three principal parties:

  • The Settlor – the individual who creates the trust and transfers specific assets into it.
  • The Trustees – appointed individuals or institutions who legally hold and manage the trust assets, and are bound by a fiduciary duty to act in the best interests of the beneficiaries.
  • The Beneficiaries – the individuals or entities who are entitled to benefit from the trust, either currently or in the future.

Trusts are established through a trust deed, which outlines the terms under which the trust will operate. This legal instrument gives the settlor the ability to define how, when, and under what conditions the assets will be managed or distributed.

Why Use a Trust?
Trust structures provide:

  • Asset protection
  • Succession planning
  • Confidentiality
  • Flexibility in asset distribution

Whether for personal estate planning or international wealth structuring, trusts offer a high degree of control and adaptability tailored to the settlor’s intentions.

Estate Planning

Foundations

Thinking about how to protect your wealth not just for today, but for the next generation? A Foundation can help you plan with confidence, offering a structured way to manage and preserve assets over time. It is a legal entity with its own personality, established by a Founder who endows it with assets.

A Foundation combines elements of both a trust and a company, providing a flexible and familiar structure for individuals and families seeking to preserve and manage wealth across generations. Its objectives may be charitable, non-charitable or a hybrid of both. The Founder's intentions are set out in a Charter, which outlines how the assets should be administered and for whose benefit. Beneficiaries may include specific individuals, a class of persons, or the Foundation may serve a defined purpose.

Foundations are commonly used for:

  • Asset protection
  • Intergenerational wealth and succession planning
  • Inheritance structuring
  • Charitable giving
  • Holding and managing global assets

Foundations offer confidentiality, stability and control, making them a strategic tool in any comprehensive estate plan.

The ability to establish and administer Foundations in Mauritius further reinforces the jurisdiction’s position as a trusted and innovative hub for wealth management, succession planning, and estate preservation.

Investment Vehicle

Funds

If you are looking to pool resources with others to grow your investments, a fund could be the perfect vehicle. It collects capital from multiple investors to invest in a diversified portfolio of assets such as equities, bonds, real estate or alternative instruments. It is managed according to a defined investment strategy and may be geared towards retail, institutional or high-net-worth investors.

In Mauritius, funds are typically structured as companies, limited partnerships, or protected cell companies, and may be established as either open-ended or closed-end vehicles in accordance with the Securities Act 2005.

A fund can be either self-managed or managed by a Collective Investment Scheme (CIS) Manager, subject to the approval of the Financial Services Commission (FSC). While the appointment of a CIS Manager (also referred to as an Investment Manager) is not mandatory, most funds opt to establish one in Mauritius. This enhances regulatory oversight and may also strengthen the fund's tax residency status in Mauritius.

To obtain a licence from the FSC, the promoters and key stakeholders of the Investment Manager must demonstrate:

  • A proven track record in fund management
  • Adherence to all applicable regulatory and compliance requirements

Mauritius continues to position itself as a competitive and well-regulated domicile for investment funds, backed by a strong legal framework, business-friendly environment, and an extensive network of Double Taxation Avoidance Agreements (DTAAs).

Corporate Structure

Protected Cell Company

Imagine running several investment portfolios or insurance products under one umbrella, each insulated from the other. That is exactly what a Protected Cell Company (PCC) enables. It is a distinctive corporate structure that consists of a core and multiple independent Cells, each with its own segregated assets and liabilities. This legal framework ensures that the liabilities of one Cell do not impact the assets of another, offering a robust ring-fencing mechanism.

In Mauritius, PCCs are governed by the Protected Cell Companies Act 1999 and the Protected Cell Companies (Amendment of Schedule) Regulations 2005.

Key Features of a PCC

  • A PCC may establish one or more Cells, each with specific purposes or investment strategies.
  • Despite having multiple Cells, the PCC is recognised as a single legal entity.
  • Each Cell is not a separate legal person; however, its assets and liabilities are kept distinct from those of other Cells.
  • Assets are classified as either:
    • Cellular Assets – allocated to a specific Cell
    • Non-Cellular (Core) Assets – held by the PCC itself
  • The PCC may issue Cell Shares, which are tied to the performance and ownership of individual Cells.
  • Cellular dividends may be distributed based on the performance of a specific Cell, ensuring that returns and profits are isolated to that Cell.

Applications
The PCC model is particularly well-suited for:

  • Investment funds
  • Insurance businesses
  • Structured finance vehicles

These sectors benefit significantly from the PCC’s ability to segregate risk and efficiently manage diversified portfolios under one legal umbrella.

Investment Vehicle

Variable Capital Company

If you are looking to manage multiple investment strategies under one flexible structure, the Variable Capital Company (VCC) offers a smart, efficient solution. Introduced in Mauritius under the Variable Capital Companies Act 2022, the VCC is a modern and flexible corporate structure. It may operate either as a standalone entity or as an umbrella vehicle comprising multiple sub-funds and Special Purpose Vehicles (SPVs), all within a single legal entity. Each sub-fund can be structured as an open-ended or closed-end fund, allowing for customised investment terms, liquidity options, and investor participation.

This flexibility makes the VCC an ideal structure for fund managers who can efficiently manage multiple investment strategies under a single regulatory framework. A key advantage of the VCC in Mauritius is its operational efficiency, as both the VCC and its sub-funds or SPVs can share:

  • A common board of directors
  • A licenced fund manager regulated by the Financial Services Commission (FSC)
  • A Collective Investment Scheme (CIS) administrator
  • Other relevant service providers

This shared structure helps reduce administrative complexity and lower costs, making the VCC particularly attractive to both local and international fund managers.

For enhanced independence and governance, each sub-fund or SPV may also opt to have a separate legal personality and appoint its own board of directors.

By aligning with global trends in fund structuring, the VCC reinforces Mauritius’s status as a leading fund domicile and international financial centre.

Partnership Structure

Limited Partnership

Are you looking for the flexibility of a traditional partnership combined with the features of a private limited company? A Limited Partnership (LP) might be the ideal solution. This hybrid business structure offers operational agility while benefiting from a distinct legal identity, making it a versatile vehicle for a wide range of investment and business purposes.

For a LP, you would require at least one General Partner (GP) and one Limited Partner (LP) who would act in the following capacities:

  • The General Partner (GP) is responsible for managing the business and affairs of the partnership. The GP has full authority to act on behalf of the partnership, execute documents and bind the partnership.
  • The Limited Partner (LP) acts as a passive investor. The LP’s liability is limited to the amount of capital contributed (or agreed to be contributed). LPs are not permitted to bind the partnership or manage its affairs.

Key Advantages of a Limited Partnership

  • Tax Transparency:
    LPs are generally treated as tax-transparent, meaning income is taxed at the partner level. However, the LP may opt to be taxed as an entity.
  • Limited Liability:
    LPs enjoy limited liability, strictly confined to their capital contributions.
  • Operational Efficiency:
    The GP handles all daily operations, allowing LPs to remain passive.
  • Equal Ranking:
    LPs rank pari passu in respect of the return of their capital contributions.

This structure is particularly well-suited for private equity, venture capital and investment holding vehicles.

Local Structure

Domestic Company

Thinking of setting up a business in Mauritius?

A Domestic Company, also known as a Local Company, might be just what you need. Incorporated under the Mauritius Companies Act 2001, this type of company is considered resident for tax purposes and may benefit from Mauritius’s extensive network of Double Taxation Agreements (DTAs).

With a flat corporate tax rate of 15% and no withholding tax on capital gains or dividends, plus no exchange controls, Mauritius offers a highly attractive and business-friendly environment for entrepreneurs and investors alike.

You can set up your Domestic Company as either a Private or Public Company, and choose from the following five legal forms based on your needs:

Types of Domestic Companies

  • Company Limited by Shares
    Shareholders’ liability is limited to any unpaid amount on their shares, as defined by the company’s constitution.
  • Company Limited by Guarantee
    Members agree to contribute a specific amount to the company’s assets if it winds up.
  • Unlimited Company
    There is no cap on shareholders’ liability, best suited for those seeking complete control and responsibility.
  • Limited Life Company
    Designed with flexibility in mind, this type of company automatically dissolves when certain predefined events occur.
  • Company Limited by Shares and Guarantee
    A hybrid option combining shareholding and guarantee-based liability, offering dual protection and structure.
International Structure

International Business Company (IBC) – Seychelles

How about engaging in international activities without being subject to the same tax regulations and requirements that apply in the home country?

An International Business Company (IBC) in Seychelles might be just what you are after. Incorporated under Seychelles law, an IBC is a legal entity exempt from local taxation and specifically designed for cross-border activities.

While it cannot conduct business within Seychelles, this restriction comes with a benefit: no local taxes on income. That’s why IBCs are widely used for international trade, investment holding, asset protection, and wealth management.

Straightforward, efficient and discreet, the IBC remains a go-to choice for global entrepreneurs and investors seeking flexibility and tax neutrality.

Financial Services

Investment Advisors

Thinking about where and how to invest your money wisely?

Whether you are just starting your investment journey or managing a diverse portfolio, sound advice from a licenced expert can make all the difference. Investment Advisors are the ones who provide expert guidance to help you make informed decisions across different types of investments.

In Mauritius, Investment Advisors are regulated under the Financial Services Act and are required to be licenced by the Financial Services Commission (FSC). These advisors offer professional advice to individuals, businesses, and institutions on investments in various asset classes, such as stocks, bonds, mutual funds, and real estate.

Investment advisors in Mauritius can be classified into two categories:

  • Restricted Investment Advisors who have limited licences, which restrict them to providing advice only on specific asset classes or to certain types of clients, such as institutional investors or high-net-worth individuals (HNWIs). Their activities are subject to tighter regulatory constraints.
  • Unrestricted Investment Advisors who have broader licences that allow them to offer advice on a wide range of investment products without restrictions. They have the ability to serve a wider range of clients, including individuals, corporations, and trusts. They are also subject to regular audits and regulatory oversight by the FSC.

Both categories are expected to meet high standards of professionalism and comply with the laws regarding investor protection, transparency and fiduciary duties.

Financial Services

Investment Dealers

Navigating the world of buying and selling investments requires expertise you can trust. Whether you're an individual investor or a business, having the right partner to execute your transactions smoothly is essential. Investment Dealers are the professionals who make this possible. They facilitate the buying, selling and trading of financial instruments like stocks, bonds, mutual funds, and other securities, playing a key role in keeping markets liquid and efficient.

In Mauritius, Investment Dealers are typically licenced under the Securities Act 2005 and the Financial Services Act, with oversight by the Financial Services Commission (FSC). They can operate in various capacities, namely:

  • Brokerage Firms: Facilitating transactions between buyers and sellers.
  • Market Makers: Providing liquidity in the market by offering to buy and sell securities at specified prices.
  • Underwriters: Assisting companies in raising capital by issuing new shares or bonds.

They comply with strict regulatory requirements to ensure fair and transparent dealings and to protect investors. This includes the necessity of maintaining proper licensing, adhering to capital adequacy standards and implementing sound risk management practices.

Digital Assets

VAITOS (Virtual Asset and Initial Token Offering Services)

Curious about virtual assets and token offerings in Mauritius?

As digital currencies and blockchain technologies reshape finance worldwide, Mauritius has positioned itself as a forward-thinking hub for these innovations, offering clear rules and support for businesses and investors involved in this space.

To understand how this works, it is important to know about VAITOS – Virtual Asset and Initial Token Offering Services – which covers the full range of services involved in issuing, managing, and trading virtual assets such as cryptocurrencies and tokens.

Mauritius has introduced the Virtual Asset and Initial Token Offering Services Act, which provides a legal and regulatory framework for companies engaging in virtual asset activities. The Act covers:

  • Issuance of Tokens: Companies conducting Initial Token Offerings (ITOs) must comply with strict guidelines to ensure transparency and safeguard investor interests.
  • Virtual Asset Custodianship which outlines the responsibilities of virtual asset service providers, including how digital assets should be securely held and managed.
  • Compliance: Companies involved in VAITOS are required to register with the FSC and meet anti-money laundering (AML) and countering the financing of terrorism (CFT) requirements.

Mauritius' clear regulatory stance in the virtual asset space ensures that businesses and investors can operate with confidence while also contributing to the growth of the blockchain ecosystem.