28 October 2016

Mauritius: Overseas Family Office

The Minister of Financial Services, Good Governance and Institutional Reforms will be making regulations under the Financial Services Act to provide for the inclusion of the Overseas Family Office (Single) and the Overseas Family Office (Multiple) in the Second Schedule to the Act with a view to allowing Overseas Family Corporations to set up a base in Mauritius as announced in Budget Speech 2016-2017.

The Overseas Family Offices constitute new lines of financial offerings targeting at investment advice, such as budgeting, insurance, charitable trusts, family-owned businesses, wealth transfer, and tax services.  The Financial Services Commission would, thereafter, issue Rules to regulate the activities of the Overseas Family Offices.

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