To date there is no special legal regime enabling or governing a Real Estate Investment Trust (REIT) in Mauritius. Under the Securities Act 2005, a Collective Investment Scheme (CIS) may be constituted as a trust and pursuant to the Securities (Collective Investment Schemes and Closed-end Funds) Regulations 2008, it is possible to apply for a Specialised CIS which is one that invests in real estate, derivatives, commodities or any other product authorised by the Financial Services Commission ("FSC"). However a person wishing to establish a Specialised CIS must apply to the FSC for a decision as to whether or not such a scheme would be authorised.
The FSC shall not give such a decision until it has determined -
(a) which of the regulations would apply;
(b) whether specific rules should be issued;
(c) conditions that would apply to such a scheme
Listing on the Stock Exchange of Mauritius
A Global Scheme/Specialised CIS may apply to be listed on the Stock Exchange of Mauritius (SEM). The SEM charges a highly competitive initial listing fee of US$1,500 and an annual fee of US$1,500 for global funds.
A Global Scheme/Specialised CIS, after admission to listing, must comply with the ongoing obligations of the SEM, as specified under Chapter 16 of the Listing Rules
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