Amar

12 July 2012

Mauritius - Management Companies (12 July 2012)

Management Companies - Last updated 12 July 2012

S/N	Management Company	Contact Details
1	AAA Global Services Ltd 1^st Floor, The Exchange 18 Cybercity Ebene	Tel (230) 454 3200 Fax (230) 454 3202 Email headoffice@aaa.com.mu
2	AAMIL (Mauritius) Ltd Suite 340-345, Barkly Wharf Le Caudan Waterfront Old Pavillon Street Port Louis	Tel (230)210 1000 Fax (230)210 2000 Email info@aamil.com
3	ABC Global Management Services Ltd 3rd Floor, Raffles Tower Cybercity, Ebene	Tel (230) 464 2668 / 464 2669 Fax (230) 464 2771 Email mdabcglobal@intnet.mu Website: http://www.abcmanagementservices.com/ Contact persons: Mr. Laurent Dominique; Mr. Li Fap Kien Kam Young
4	Abax Corporate Services Ltd 6^th Floor, Tower A, 1 Cybercity Ebene	Tel (230) 403 6000 Fax (230)403 6060 Email abax@abaxservices.com Website: http://www.abaxservices.com Contact person: Mrs. Vimla Ramsamy
5	ABBEYGATE FINANCIAL SERVICES LIMITED (Formerly known as PSTCOInternational Ltd) Unit 2B8, 2nd Floor Wing B Cyber Tower 1 Cybercity Ebene	Tel: (230) 4654426 Fax: (230) 465 4428 Email: pstco@intnet.mu
6	Affinity Worldwide Ltd 1^st Floor, Affinity Suite Cyber Tower 1 Ebene Cybercity	Tel 465 3435 Fax 465 3435 Email info@affinityww.com; mail@affinityww.com Contact Persons : Adinathsingh Lutchumun Shyam Kumar Bhunjun Shorab Cadersaib
7	ADC Management Services Limited C/o Beresford Trust & Corporate Services Limited 1001, Alexander House 35 Ebene Cybercity	Tel 466 9171 Fax 466 0132 Website : http://www.beresford.mu/
8	Agenius Management Services Ltd Suite 1, Lancaster Court Lavoquer Street, Port Louis	Tel 213 0783 Fax 213 2637 Email amsl@intnet.mu Contact Person : Mr Yogesh Dya
9	Aurisse International Ltd (Formerly known as Al Jabha(Mauritius) Limited) 7^th Floor, Wing A, Cyber Tower 1 Ebene Cyber City Ebene	Tel: (230) 464 0077 Fax: (230) 464 0088 Email: info@aurisse.com Contact Person : Mr Aslam Kanowah Mr Rohit Ghai Website: http://www.aurisse.com/
10	Alliance Trust Co. (Mauritius) Limited Level 2, Raffles Tower Cybercity, Ebene	Tel (230) 466 7070; 464 1268 Fax (230) 465 0077 Email roshanb@alliance-mauritius.com Website: http://www.alliance-mauritius.com/
11	Alter Domus (Mauritius) Ltd Altima Building, Level 6, 56 Ebene Cybercity	Tel (230) 465 6364 Fax (230) 464 7373 Email: ashwin.jugbandhan@alterdomus.com Contact Person: Mr. Ashwin Jugbandhan
12	Amicorp (Mauritius) Limited C/o Mauritius International Trust Company Limited 4^th Floor, Ebene Skies Rue de L’Institut Ebene	Tel (230) 404 8000 Fax (230) 404 2188 Email: info@mitco.mu Contact Details: Mr. Veekashsing SOOKUN (Managing Director) Mr. Amal Arpun AUTAR (Director)
13	Anderson Ross Consulting Limited Suite B1, 2^nd Floor Wing B, Cybertower 1 Ebene Cybercity Reduit Anderson Ross Consulting Limited: (Licence revoked by decision of the Enforcement Committee of the FSC)	Tel (230)467 0600 Fax (230)467 0850 Email info@andersonrossgroup.com
14	Anex Management Services Limited 9^th Floor, Ebene Tower 52 Cybercity Ebene	Tel (230)467 3003 Fax (230)454 7304 Email sattar@bow.intnet.mu
15	Antrix Corporate Solutions Ltd Hillgate Place, 8 NahabooSolim Street, Port Louis	Tel (230) 211 2888 Fax (230) 213 0888 Email: info@antrixcorporate.com Website: http://www.antrixcorporate.com/ Contact person: Mr Harold Ng
16	Apex Fund Services (Mauritius) Ltd 4^th Floor, Raffles Tower 19 Cybercity Ebene	Tel (230) 404 8800 Fax (230) 404 8899 Email info@apex.mu
17	Apostle International Management Services Limited Wing B, 1^st Floor, Old Swan Building Intendance Street Port Louis	Tel: (230) 211 8008 Email: info@aims-mauritius.com Contact person: Mr. Kader Mungly
18	Appleby Management (Mauritius) Ltd Level 8, Medine Mews Building Chaussee Street Port-Louis	Tel (230)203 4300 Fax (230)210 8792 Email pluchoo@applebyglobal.com plee@applebyglobal.com
19	Appavoo International Ltd (Formerly C & M Worldwide Services Ltd) Appavoo Business Centre 29 Bis Mère Barthelemy St Port Louis	Tel (230)203 3900 Fax (230)211 5123 Email info@appavoo-international.com
20	Argyll Management Services Limited 3^rd Floor, CitiusBuilding 31 Cybercity, Ebene	Tel (230) 454 7008 Fax (230) 454 7678 Email info@argyllmanagementservices.com
21	Associated Consultants Ltd Suite G12, St James Court St Denis St Port Louis	Tel (230)211 3664/3017 Fax (230)211 3016 Email acl@bow.intnet.mu
22	Atlas Corporate Services Limited Suite 000, Grand Bay Business Park Grand Baie	Tel (230) 263 5332 and 263 5329 Fax (230) 269 1041 Email: info@atlas-corp.com
23	Augentius Fund Administration (Mauritius) Limited C/o Intercontinental Trust Limited Level 3, Alexander House 35 Cybercity, Ebene	Tel (230)403 0808 Fax (230)403 0809 Email Mauritius@augentius.com
24	AXIS Fiduciary Ltd 4^th Floor, Unicorn Centre 18N Frere Felix de Valois Street Port Louis	Tel [230)213 1111 Fax [230)213 3333 Email trust@axis.mu Contact Person: Mr Assad Abdullatiff
25	Bedell Management Services (Mauritius) Limited 10th Floor, Raffles Tower 19 Cybercity Ebene	Tel [230)404 6055 Fax [230)468 1792 Email info@bedellgroup.mu Website http://www.bedellgroup.com Contact Person: Mr. Kevin Allagapen
26	Belvedere Management Limited 7A, 7^th Floor, Ebene Mews 57 Ebene Cyber City Ebene	Tel: (230) 466 9700/466 9701 Fax: (230) 466 9702 Email kmaillard@belvederemgt.com Contact Person: Mr. Kenneth Maillard
27	Bhumishq Financial Services Ltd 9^th Floor Mindspace, Bhumi Park 45, CyberCity Ebene	Tel (230)467 6000 Fax (230)467 1717 Email info@bhufin.com
28	Blue Ocean Management Ltd GM Tower, 6^th Floor 7 Maupin Street Port Louis	Tel : (230) 210 1486 Fax : (230) 208 3112 Email : corporate.blueocean@intnet.mu Contact Person: Mr Hemdutt Mittoo
29	Businessconsult 6^th Floor, Newton Tower Sir William Newton Street Port-Louis	Tel (230)211 6535/6716/7484 Fax (230)211 6964 Email ragti@intnet.mu
30	BYB Offshore Companies Management Ltd 9^th Floor, Les Bachas Lislet Geoffroy St, Cathedral Square Port Louis	Tel (230)211 2922/208 8324 Fax (230)208 2146 Email bachaa@bow.intnet.mu
31	Centurion Management (Mauritius) Ltd 2nd Floor, Harbour Front Building President John Kennedy Street Port Louis	Tel (230) 213 9393 Fax (230) 213 9394 Email info@cmm.mu Contact Person: Mr Peter Zajac
32	Cim Fund Services Ltd (Formerly known as IMM Fund Administrators Ltd) 3^rd Floor, Rogers House 5 President John Kennedy St Port-Louis	Tel (230) 405 2000 Fax (230) 212 5265
33	Citco (Mauritius) Limited 4^thFloor , Tower A 1 CyberCity Ebene	Tel (230)404 2600 Fax (230)404 2601 Email mauritius-trust@citco.com
34	CK (Corporate Services) Ltd (Formerly known as Maigrot-Koenig) 5^th Floor, Chancery House Lislet Geoffroy St Port Louis	Tel (230)212 2215 Fax (230)208 2986 Email ckcorporate@ckmauritius.com
35	Clariden Leu Trust (Mauritius) Limited (Formerly known as HTM Trustees Limited) C/o Corporate and Chancery Chambers 7^th Floor, New Caudan, Dias Pier, Le Caudan Waterfront Port-Louis	Tel (230)208 1692 Fax (230)208 1693 Email cltm@intnet.mu
36	Clearbrook Management Ltd 24, St Georges Street Port-Louis	Tel +230 2139128 / 2139129 Fax 212 6789 Email sangeet@clearbrookoffshore.com/ info@clearbrookoffshore.com Contact person: Mr Sangeet Fowdar
37	CKLB International Management Ltd P.O. Box 80 Felix House 24 Dr Joseph Riviere St Port Louis	Tel (230) 405 8800 Fax (230) 405 8818 Email cklbmru@cklb.com Website: www.cklb.com Contact persons: Ms Kathleen Lai Mrs Sharon Ng
38	Codan (Mauritius) Limited Level 3, Tower 1 NeXTeracom Towers Cybercity Ebene	Tel (230)404 9902 Fax (230)404 9903 Email Mauritius@conyersdillandpearman.com Contact Person : Mr Nicolas Richard (in Mauritius) Mr Anthony Whaley of Conyers Dill & Pearman (outside Mauritius)
39	Consilex Ltd 4^th Floor, Les JamalacsBuilding Vieux Conseil Street Port Louis	Tel : (230) 208 1888 Fax : (230) 208 1889 Email : mail@consilexltd.com
40	COPEX Management Services Limited 8^th Floor, No. 10 Remy OllierStreet Port-Louis	Tel (230)213 4000 Fax (230)213 4001 Email a.babajee@copex-group.com compliance@copex-group.com Contact person: Mr Arvind Babajee
41	Corporate & Chancery Group Ltd Corporate and Chancery Chambers 7^th Floor, New Caudan, Dias Pier, Le Caudan Waterfront Port-Louis	Tel (230)210 3187 Fax (230)210 1109 Email chancery@intnet.mu; chancery@chancerygroup.org
42	Crossinvest Global Management Services Ltd 34 Cybercity Level 4 Ebene Heights, Ebene	Tel: (230) 403 4330 Fax: (230) 403 4300 Email: admin@crossinvestmauritius.com Contact person: Mr. Harris Harjan
43	Curatus Trust Company (Mauritius) Limited 12^th Floor Raffles Tower 19, Cybercity, Ebene	Tel (230) 454 1040 / 454 0408 / 454 1162 Fax (230) 468 1449 Email legal@curatustrust.com
44	Dale International Trust Company Limited 3rd Floor, Tower A 1 Cybercity Ebene	Tel (230) 464 1300 Fax (230) 467 0155 Email: info@dale-trust.com Website: http://www.dale-trust.com/
45	DGT Global Management Services Ltd Sodnac Business Centre 24 Avenue des Hirondelles Quatre Bornes	Tel (230) 427-5505 Fax (230) 427-5506 Email dgtat@intnet.mu Contact Persons : Messrs Shazaad Domun Alen Topsy
46	DTOS LTD 10^th Floor, Raffles Tower 19, Cybercity Ebene	Tel (230) 404 6000 Fax (230) 468 1600 Email info@dtos-mu.com
47	Deutsche International Trust Corporation (Mauritius) Limited 4^th Floor, Barkly Wharf East Le Caudan Waterfront Port Louis	Tel (230) 202 7878/211 9126 Fax (230) 202 7898 Email dbml.enquiries@db.com
48	Equinoxe Alternative Investment Services (Mauritius) Limited Unit 5 of Unit 12D,Raffles Tower 19 Cybercity Ebene	Tel (230) 468 1291 Fax (230) 468 1219 Email scastree@equinoxeais.com ihossany@equinoxeais.com Contact Person: Mr Stephen Castree Mr Irfaan Hossany
49	Fideco Global Business Services Ltd (Formerly known as Fideco Offshore Services Ltd) 44 St George Street Port Louis	Tel (230)210 3386/1867 Fax (230)210 5922 Email fideco@intnet.mu
50	Fidelis Trust & Corporate Services Limited Avenue Leclezio Moka Mauritius	Tel (230) 433-5367 Fax (230) 433-5337 Email info@fidelis.mu; nazia@fidelis.mu Contact Person: Mrs Nazia Mungroo Web http://www.fidelis.mu/
51	First Island Trust Company Ltd Suite 308, St. James Court St. Denis St Port Louis	Tel (230)211 6636/6242 Fax (230)211 7489 Email fitco@intnet.mu
52	Frontière Finance Ltd Suite 114, 3rd Floor MedineMews Chaussee Port Louis	Tel (230)211 1395/6 Fax (230)211 1294 Email rory@frontfin.mu Web http://frontfin.com/
53	FWM International Limited Bowen Square Dr Ferriere Street Port Louis	Tel (230)213 6600 Fax (230)211 9833 Email global@axys-group.com Web http://www.axysglobalbusiness.com/ Contact Person : Mr. Lutchmeeprakash Seepersand
54	GenPro Consulting (Mauritius) Inc. c/o Intercontinental Trust Ltd Level 3, Alexander House 35 Cybercity Ebene	Tel (230)403 0800 Fax (230)403 0801 Email info@intercontinentaltrust.com
55	GFin Corporate Services Ltd 9th Floor, Orange Tower Cybercity Ebene	Tel (230) 466 2600 Fax (230) 468 1264 Email tej@gfingroup.com; santosh@gfingroup.com Contact Person: Mr Santosh K. Gujadhur Mr Tej Gujadhur
56	Glenara Management Services Ltd Suites 801-802 8th Floor, Tower A 1 Cybercity, Ebene	Tel (230) 466 3839 Fax (230) 466 3840 Email info@glenaraservices.com Website: www.glenaraservices.com Contact Person: Ms Lorna Chuttoo
57	GLOBAL WEALTH MANAGEMENT SOLUTIONS LTD 365 Royal Road Rose Hill	Tel (230)454 2110 Fax (230)454 9671 Email info@globalwealth-ms.com
58	Globefin Management Services Ltd Les Jamalacs Building Vieux Conseil Street Port-Louis	Tel (230)213 1913 Fax (230)208 6258 Email roshan.nathoo@globefin.mu Web site: http://www.globefin.mu/ Contact Person: Mr Roshan Nathoo
59	GloConsult Management Services Ltd 2^nd Floor Rawat Building 29, Dauphine Street Port-Louis	Tel: 7531859/2502792 Fax: 2135165 Email: info@glo-consult.com Website: http://www.glo-consult.com/ Contact Person: Mr. Anbanaden Patten
60	GMG Trust Ltd 19^th Floor, Newton Tower Sir William Newton Street Port-Louis	Tel (230) 405 9000 Fax (230) 405 9001 Email office@gmgtrust.com
61	Grand Baie Trust Company Limited 1^st Floor, Block b, Ruisseau Creole Complex La Mivoie Black River	Tel (230) 483 7117 & 483 7122 Fax (230) 483 7096 Email gbt@grandbaietrust.com
62	Hauteville Limited 1^st Floor, Felix House 24 Dr Joseph Riviere St Port Louis	Tel (230) 405 8820 Fax (230) 405 8821 Email hauteville@intnet.mu Contact person: Mr Christian Li
63	HBS Trust Services (Mauritius) Ltd St Louis Business Centre Cr Desroches & St Louis Streets Port Louis	Tel (230)208 7575 Fax (230)208 7574 Email hbsmru@intnet.mu
64	Imara Trust Company (Mauritius) Limited 1001 Alexander House 35 Ebene Cybercity	Tel (230) 464 9799 Fax (230) 464 9798 E-mail info@beresford.mu
65	Intercontinental Trust Limited Level 3, Alexander House 35 Cybercity Ebene	Tel (230)403 0800 Fax (230)403 0801 Email info@intercontinentaltrust.com Website: http://www.intercontinentaltrust.com/
66	Intercontinental Fund Services Limited Level 5, Alexander House 35 Cybercity Ebene	Tel (230)403 0800 Fax (230)403 0801 Email info@intercontinentaltrust.com Website: http://www.intercontinentaltrust.com/
67	Interface International Ltd 9^th Floor, Raffles Tower 19 Cybercity Ebene	Tel (230)404 6060 Fax (230)468 1616 Email info@iil-mu.com Contact Person: Mervyn Chan General Manager Email:mvchan@iil-mu.com
68	International Financial Consulting Ltd 5^th Floor, Rubis Centre 30 Dr Eugene Laurent Street Port Louis	Tel 217 1777 Fax 217 4777 Email Mr Deelchand Jeeha cmd@ifcconsult.com Website: http://www.ifcconsult.com/
69	International Financial Services Ltd IFS Court Twenty Eight Cybercity, Ebene, Mauritius	Tel (230} 467 3000 Fax (230) 467 4000 Email ifs@ifsmauritius.com
70	International Management (Mauritius) Ltd 4^th Floor, Les Cascades Edith Cavell St Port Louis	Tel (230)212 9800 Fax (230)212 9833/9803 Email services@imm.mu
71	Inter-Ocean Management Limited Suite 510 5^th Floor, Barkly Wharf Le Caudan Waterfront Port-Louis	Tel (230)210 9334 Fax (230)210 8524 Email brendon.jones@inter-oceanmgt.com Website: http://www.inter-oceanmgt.com/
72	International Proximity 608, St. James Court St. Denis St Port-Louis	Tel (230)210 9000 Fax (230)210 9001 Email mail@internationalproximity.com; ajagarnath@internationalproximity.com
73	Investec Trust (Mauritius) Limited Level 8 C Cyber Tower II Ebene Cyber City	Tel (230)403 0400 Fax (230)403 0498 Email enquiries@investectrust.co.mu
74	JurisTax Ltd (Formerly (formerly known as JURISTCONSULT INTERNATIONAL & CO LTD) Level 8, Newton Tower Sir William Newton Street Port Louis	Tel [230] 208 5526 / 208 4325 / 212 6976 Fax [230] 212 3479 / 208 5586 Email international@juristconsult.intnet.mu Website : http://www.juristconsult.com
75	Keenwealth & Trust Management Ltd 2^nd Floor, Sharon House Sir William Newton Street Port Louis	Tel (230) 211 0072 Fax (230) 208 1478 Email keenwealth@orange.mu Contact Person: Mrs Ruma Nobin
76	Keystone Fund Services Ltd C/o Turnstone Corporate (Mauritius) Limited Ebene House, 3^rd Floor, 33 Cybercity, Ebene	Tel (230)467 4693 Fax (230)466 8443 Email: funds@turnstone-group.com Contact persons & emails: Nadia Rochecouste :nadia.rochecouste@turnstone-mu.com Kaviraj Rookny: kaviraj.rookny@turnstone-mu.com Michael Lam: michael.lam@turnstone-mu.com
77	Knights & Johns Management Ltd 9^th Floor, Raffles Tower 19 Cybercity, Ebene	Tel (230)404 6001 Fax (230)468 1601 Email info@kjm-mu.com
78	Kross Border Corporate Services Limited St Louis Business Centre Cr Desroches & St Louis Streets Port-Louis, Mauritius PO Box No 1178	Tel (230)203 1100 Fax (230)203 1150 Email fiduciary@krossborder.intnet.mu
79	Kross Border Financial Services Limited St Louis Business Centre Cnr Desroches & St Louis Streets Port Louis	Tel (230)203 1100 Fax (230)203 1150 Email: contact@krossborder.intnet.mu
80	L C Abelheim Ltd Block B, 2^nd Floor, RuisseauCreole La Mivoie, Black River	Tel (230) 483 5130 Fax (230) 483 6016 Email info@lcabelheim.com aziza@lcabelheim.com Contact Persons : Mrs Aziza Moraby
81	Lemuel Corporate & Trust Management Ltd Kensington Palms, Suite No 6 Sir Guy Forget Avenue Quatre Bornes	Tel (230) 424 1325 Fax (230) 424 1278 Email info@lemuel-group.com Website www.lemuel-group.com Contact Person : Mr Valery Azor
82	Lion International Management Limited Level 5, Tower III NeXTeracom Tower Cybercity	Tel (230) 464 6060 Fax (230) 464 7676 Email office@lionglobal.mu
83	LOITA MANAGEMENT SERVICES LIMITED 1^st Floor, River Court 6, Denis Street Port Louis	Tel (230)208 9022 Fax (230)208 9033 Email loitags@intnet.mu
84	London Global Business Solutions Ltd 51, Ebene Cybercity Reduit	Tel (230) 466 0303 Fax (230) 468 1153 Email: lgbs@intnet.mu Website: www.london-global.com
85	MASlux (Mauritius) Ltd NeXTeracom Tower 1, 13th Floor Cybercity, Ebene	Tel (230) 466 9447 Fax (230) 466 9362 Email contact@mu.masint.com Contact Person: Mr. Jimmy How
86	Matco Limited 11^th Floor, Tower 1, NeXTeracom Building, Ebene Cybercity	Tel: (230) 403 7075 (230) 465 5287 Fax: (230) 213 6861 Email: info@matcotrust.com Contact person: Mrs. Jeanne Makuch
87	Mauritius International Trust Company Limited 4^th Floor Ebene Skies Rue de L’Institut Ebene	Tel (230) 404 8000 Fax (230) 404 2188 Email info@mitco.mu
88	Mauri Experta Ltd Level 5, Tower III NexTeracom Towers Cybercity, Ebene	Tel (230) 404 5800 Fax (230) To be submitted later Email info@mauriexperta.com
89	MauriTrust Consulting & Management Limited Bowen Square Dr Ferriere Street Port Louis	Tel (230)211 8881 Fax (230)212 6138 Email mauritrust@mauritrust.com
90	ML ADMINISTRATORS LTD (Formerly known as Beaufort Services Ltd) 3^rd Floor, DHL Building 7 Sir Virgil Naz Street,PortLouis	Tel (230)208 4747 / 208 9400 Fax (230)208 9171 Email info@mladministrators.com
91	Minerva Fiduciary Services (Mauritius) Limited (Formerly known as Jupiter Management (Mauritius) Limited) Suite 2004, Level 2, Alexander House 35 Cybercity Ebene	Tel : (230)464 5100 Fax : (230)467 3100 Email : info@minerva-trust.mu
92	Moots International Ltd R201A Moka Business Centre Mount Ory Road Bon Air Moka	Tel (230) 406 9607 Fax (230) 432 0167 Email: info@moots.co Website: http://www.moots.co Contact Person: Mrs Hemavadi P Soondram
93	MSIM Limited Suite 8, Level 12 NeXTeracom Tower 1 Cyber City Ebene	Tel (230)466 3724 Fax (230)466 4327 Email: info@msim.mu
94	Multiconsult Limited Rogers House, Level 3 5, President John Kennedy Street Port Louis	Tel (230)405 2000 Fax (230)212 5265 Email multico@intnet.mu
95	NS Management Ltd Ground Floor, PCL Building 43 Sir William Newton Street Port Louis	Tel (230) 213 8890 Fax (230) 210 7387 Email arvin@ns-management.net Contact Person: Mr Arvin Halkhoree
96	Murray & Collins Offshore Management Co. Ltd 9, Pailles Road, GRNW Port Louis, Mauritius	Tel (230) 213 2400 Fax (230) 208 3929 Email info@murray-collins.com Website: www.murray-collins.com Contact Person: Mr Didier PICON
97	OCRA (Mauritius) Limited 2^nd Floor, MaxCity Building Remy Ollier Street Port-Louis	Tel (230)211 5100 / 217 5100 Fax (230)217 5400 Email ocra@ocra-mauritius.com
98	Offshore Incorporations (Mauritius) Limited St James Court, Suite 307 St Denis St Port Louis	Tel (230)210 3273/211 6242 Fax (230)211 7489 Email OIML@intnet.mu
99	Olexco Trust Company Limited C/o Tri-Pro Administrators Ltd Suite 2001& 2002 Level 2, Alexander House 35 Cybercity, Ebene	Tel (230) 464 9088 Fax (230) 467 8858 Email info@olexco.mu
100	Orangefield Trust (Mauritius) Limited 3^rd Floor, 355 NeXTeracomTower 1 Cybercity Ebene	Tel (230)464 7275 Fax (230)464 3290 E-mail ingtrust@intnet.mu
101	Ostermann Finanz Ltd Office 3, Level 1, Lot 52 Ebene Tower Ebene	Tel : (230) 466 4424 Fax : (230) 466 4346 Email : Contact person: Mr. Soren Alexander Volkel
102	PCL Legal Services (Mauritius) Ltd 5^th Floor, PCL Building Sir William Newton St Port Louis	Tel (230)212 6913/17 Fax (230)208 8351 Email pcllegal@intnet.mu
103	Polaris Global Services Ltd 4 Ter Saint George Street Port-Louis	Tel (230) 212-5175 Fax (230) 212-5175 Email frankiepgsl@gmail.com Contact Person: Mr. Fen Kui Tang Yung Sing
104	Port Louis Management Services Ltd 3^rd Floor, Harbour Front Building President John Kennedy Street Port Louis	Tel (230)212 5150/211 4321 Fax (230)212 7375 Email pmsl@bow.intnet.mu
105	Portcullis Trustnet (Mauritius) Ltd C/o DTOS Ltd 10^th Floor, Raffles Tower 19,Cybercity Ebene	Tel (230)404 6000 Fax (230)468 1600 Email info@dtos-mu.com
106	Premier Financial Services Limited Suite 612, 6^th Floor St James Court St Denis Street Port Louis	Tel: (230) 213 6703 Fax: (230) 213 6704 Email: premier@intnet.mu ; vimal.premier@intnet.mu Contact Person: Mr Vimal D. Damry LLB TEP Website: http://www.premier.mu/
107	PrimeCapital Management Ltd Level 11, Bramer House 66C2, Cybercity Ebene	Tel: (230) 403 4100 Fax: (230) 467 9730 Email: info@primecapital.intnet.mu
108	RBC Trust Co Ltd Suite 316, St James Court Port Louis	Tel: To be submitted later Fax: To be submitted later Email: To be submitted later Contact Person: To be submitted later
109	Red Ivy (Mauritius) Ltd 89, Corner St. Jean Road and Draper Street Quatre Bornes	Tel: (230) 465 3794 Email: tony@redivy.mu Contact Person: B. A. Izelaar
110	River Court Administrators Limited River Court, St Denis Street Port Louis	Tel 208 7441 Fax 208 2142 Email mukund.gujadhur@rivercourt.mu; info@rivercourt.mu Website www.rivercourt.mu Contact person: Tikanand Gujadhur
111	Sable Offshore Management Company Ltd Suite 3, Grand Baie Business Park Grand Baie	Tel: (230) 263 4400 Fax: (230) 263 7700 Email:gael.duchenne@sable.mu rod.phillips@sable.mu Contact Persons: Mr. Gael Duchenne
112	SCI Essell Offshore Services 212, St James Court St Denis St Port Louis	Tel (230)210 8588 Fax (230)216 8590 Email eos@intnet.mu
113	Schindlers Trust Mauritius Limited (Formerly known as Fairbairn Trust Mauritius Limited) 2^nd Floor, Block B Medine Mews Chaussee Street Port Louis	Tel (230)211 2206 Fax (230)211 2205 / 210 3154 Email Mauritius@schindlers.mu
114	SG Financial Services Limited 4th Floor, C.A Building, 19, Poudrière St Port Louis	Tel (230)208 8684/211 3350 Fax (230)211 1967 / 213 1373 Email s.dwarka@sgfinancialservices.com; s.pandoo@sgfinancialservices.com Contact Persons : Mrs S.Dwarka and Messrs A. Sewraz and S.Pandoo
115	SG Trust (Mauritius) Ltd Level 3, Alexander House 35 Cybercity Ebene	Tel (230)403 0818 Fax (230)403 0819 E-mail info@intercontinentaltrust.com Contact Person : Mr York Shin Lim Voon Kee
116	Sphere Management (Mauritius) Limited 6^th Floor, St James Court Port Louis	Tel: +230 211 6726 Fax: +230 211 4076 Email: info@sphere-management.com rizwana@sphere-management.com
117	Sinews Global Ltd 5 Victor La Marque Street Curepipe	Tel (230) 675 2587 Fax (230) 670 5733 Email management@sinewsglobal.com
118	Sovereign Trust (Mauritius) Limited c/o Intercontinental Trust Limited Level 3, Alexander House 35 Cybercity,Ebene	Tel (230)403 0813 Fax (230)403 0814 Email info@intercontinentaltrust.com
119	St Lawrence Management Limited 6^th Floor, C&R Court 49 Labourdonnais Street Port Louis	Tel (230) 213 9298 Fax (230) 212 4175 Email: info@stlawrence.mu Contact person: Anuradha Ramphul
120	Standard Bank Trust Company (Mauritius) Limited 6^th Floor, Medine Mews Building La Chaussee Street Port Louis	Tel (230)202-4200 Fax (230)202-4210 Email sbtm@standardbank.com Karl.foden@standardbank.com
121	Strafin Global Services Ltd HM Building 18 Edith Cavell Street Port Louis	Tel No: (230) 212 5115 / 213 2143 Fax No: (230) 213 2186 E-mail: strafin@intnet.mu Contact Persons: Mrs Nalini Gopaul Mrs Devika Seeruttun
122	Taysun Corporate Services Ltd 6th Floor, France Centre Corner St Jean Road and Victoria Avenus Quatre Bornes	Tel: (230)427 6060 Fax: (230)425 4040 Email: taysun@taysungroup.com Contact person: Mr Rubysen Rambocus Mr Uttam Gopal
123	Temple Corporate Services 2, Labourdonnais Street Port Louis	Tel (230)211 5744 Fax (230)208 1026 Email templecs@intnet.mu
124	Thibaut International Management Ltd 5A Wellington Street Rose Hill	Tel (230) 465 8688 Fax (230) 465 8912 Email: thibautinternational@gmail.com thibaut.associates@gmail.com Contact Person: Mr Jose Thibaut Website: http://www.thibautinternational.com/
125	TMF Mauritius Limited (Formerly known as Equity Trust (Mauritius) Limited) 3^rd Floor Raffles Tower 19 Cybercity Ebène	Tel (230)464 5995 Fax (230)464 5115 Email infomu@asia.equitytrust.com
126	Trident Trust Company (Mauritius) Ltd 5^th Floor, Barkly Wharf Le Caudan Waterfront Port-Louis	Tel: (230) 210 9770 Fax: (230) 210 1266 Email mauritius@tridenttrust.com
127	Tri-Pro Administrators Ltd (Formerly known as Tri-Pro Services Ltd) Suite 2001& 2002 Level 2, Alexander House 35 Cybercity, Ebene	Tel [230) 464 9088 Fax [230) 467 8858 E-mail : services@tri-pro.mu Contact Persons : Ms Sandra Hew Khee Ms Rachel Lee Kien Vong
128	Trustlink International Limited 501,Saint James Court Saint Denis Street, Port Louis	Tel (230) 210 9961 Fax (230) 210 6749 Email rajiv@trustlinkintl.com
129	Turnstone Corporate (Mauritius) Limited Ebene House, 3^rd Floor 33 Cybercity Ebene	Tel (230) 467 4693 Fax (230) 466 8443 Contact persons & emails: Nadia Rochecouste :nadia.rochecouste@turnstone-mu.com Kaviraj Rookny: kaviraj.rookny@turnstone-mu.com Michael Lam: michael.lam@turnstone-mu.com Website: http://www.turnstone-group.com/
130	Utilis Corporate Services Ltd 7^th Floor, Tower 1 NeXTeracom, Cybercity Ebene	Tel (230) 403 4250 Fax (230) 468 1178/ 403 4280 Email info@utilis.mu Contact Person: Mr. Kuldeepsingh Moheetah
131	Vertex Global Financial Services Ltd 19, Cybercity, Raffles Tower 4^th Floor, Ebene	Tel (230) to be updated later Fax (230) to be updated later Email to be updated later Contact Person: to be updated later
132	Vistra (Mauritius) Limited C/o Abax Corporate Services Ltd 6th Floor, Tower A 1 Cybercity, Ebene	Tel (230) 403 6009 Fax (230) 403 6010 Email nousrath.bhugeloo@vistra.com Contact Person: Mrs. Nousrath Bhugeloo
133	Vuna Capital Trustees (Mauritius) Ltd Vuna House, 53 Duperre Street Quatre Bornes	Tel (230) 427 8343 / 427 8352 Fax (230) 427 8256 Email : info@vunatrustees.com Contact Person: Mr Timothy Nelson
134	V A Global Business Limited (formerly known as Worldwide Business Centre Limited) Office 113, 2^nd Floor, Medine Mews La Chaussee Street Port-Louis	Tel (230) 213 4238 Fax (230) 213 4237 Email info@mauritiusoffshorecompanies.com vidya@vagrouplimited.com Website http://www.mauritiusoffshorecompanies.com/

Management Companies (Corporate Trustees)

135	AAMIL Trustees Ltd Suite 340-345, Barkly Wharf Le Caudan Waterfront PO Box 1070, Port-Louis	Tel (230) 210 1000 Fax (230) 210 2000 Email aamiltrustees@aamil.com
136	Appleby Trust (Mauritius) Limited Level 8, Medine Mews Building Chaussee Street Port-Louis	Tel (230) 203 4300 Fax (230) 210 8792 Email pluchoo@applebyglobal.com plee@applebyglobal.com
137	APG Trustee Corporation C/o Corporate and Chancery Chambers 7^th Floor, New Caudan, Dias Pier, Le Caudan Waterfront Port-Louis	Tel (230)210 3187 Fax (230)210 1109 Email chancery@intnet.mu; chancery@chancerygroup.org
138	Beresford Pension Trust Limited 1001 Alexander House 35 Ebene Cybercity	Tel (230) 466 9171 Fax (230) 466 0132 Email preetam@beresford.mu; Info@beresford.mu Contact Person: Mr Preetam Prayag
139	Citco Trustees (Mauritius) Limited 4^th Floor, Tower A 1 CyberCity Ebene	Tel (230)404 2600 Fax (230)404 2601 Email mauritius-trust@citco.com
140	CKLB INTERNATIONAL TRUSTEES LTD c/o CKLB International Management Ltd P.O Box 80, Felix House 24 Dr Joseph Riviere Street Port Louis	Tel (230) 405 8800 Fax (230) 405 8818 Email cklbmru@cklb.com Website: www.cklb.com Contact persons: Ms Kathleen Lai Mrs Sharon Ng
141	COPEX Trustees Limited 8^th Floor, No 10 Remy OllierStreet Port-Louis	Tel (230) 213 4000 Fax (230) 213 4001 Email ct@copex-group.com
142	DTOS TRUSTEES LTD 10^th Floor, Raffles Tower 19, Cybercity, Ebene	Tel (230) 404 6000 Fax (230) 468 1600 Email info@dtos-mu.com
143	Fairfield Trustees Ltd c/o SG Financial Services Limited 4th Floor, C.A Building 19 Poudrière Street Port-Louis	Tel (230) 208 8684/211 3350 Fax (230) 211 1967 Email a.sewraz@sgfinancialservices.com
144	Frontière Trustees Limited Suite 114, 3^rd Floor, Medine Mews Chaussée Street Port Louis	Tel (230)211 1395 Fax (230)211 1294 Email info@frontfingroup.com Website www.frontfin.com
145	IFS Trustees IFS Court Twenty Eight Cybercity Ebene Mauritius	Tel (230)211 2000 Fax (230)211 1000 Email ifs@intnet.mu
146	IMM Trustees Ltd Les Cascades Edith Cavell Street Port-Louis	Tel (230) 212 9800 Fax (230) 212 9833/9803 Email services@imm.mu
147	International Proximity Trustees Limited 608, St James Court St Denis Street Port Louis	Tel (230)210 9000 Fax (230)210 9001 Email mail@internationalproximity.com
148	ITL TRUSTEES LTD (Formerly known as PSG International Trust Company Limited) c/o Intercontinental Trust Limited Level 3, Alexander House 35 Cybercity Ebene	Tel (230) 403 0800 Fax (230) 403 0801 Email info@intercontinentaltrust.com
149	Multiconsult Trustees Ltd Rogers House, Level 3 5, President John Kennedy Street Port Louis	Tel (230)405 2000 Fax (230)212 5265 Email multico@intnet.mu
150	Orangefield Corporate Trustees (Mauritius) Limited 355, NexTeracom Tower 1 3^rd Floor, Cybercity Ebene	Tel (230) 464 7275 Fax (230) 464 3290 Email info@orangefieldtrust.mu
151	PMSL Trustees Ltd c/o Port-Louis Management Services Limited 5 Duke of Edinburg Avenue Port-Louis	Tel (230) 212 5150/211 4321 Fax (230) 212 7375 Email pmsl@bow.intenet.mu
152	Oasis Trustees (Mauritius) Ltd (Formerly known as PSGKonsult Trustees Limited) Level 3, Alexander House 35, CyberCity Ebene	Tel (230) 403 0800 Fax (230) 403 0801 Email info@psgkonsult.mu Contact Persons : Mr. Ben Lim Voon Kee Mr. Tommy Lo Seen Chong
153	River Court Trustees Limited C/o River Court Administrators Limited River Court, St Denis Street Port Louis	Tel 208 7441 Email mukund.gujadhur@rivercourt.mu; Contact Person: Tikanand Gujadhur
154	Seamark Trust Company Limited 608 St James Court St Denis Street Port Louis	Tel : (230) 212 8245 Fax : (230) 212 9945 Email navin@seamarktrust.com Contact Persons : Mr. Navin Gunnasaya Mr. Boopendra (Vikash) Sungker Mrs. Suzanne Gujadhur
155	NEWHAVEN TRUST COMPANY (MAURITIUS) LTD–(Formerly known as Southern Global Trust Company Ltd C/o Corporate and Chancery Chambers 7^th Floor, New Caudan, Dias Pier, Le Caudan Waterfront Port-Louis	Tel (230)210 3187 Fax (230)210 1109 Email chancery@intnet.mu; chancery@chancerygroup.org
156	CIM Trustees (Mauritius) Limited (Formerly known as The Meridian Trust Co. Ltd) Business Address: 5^th Floor, Les Cascades Building Edith Cavell Street Port-Louis	Tel (230) 212 9808 Fax (230) 213 3467 Email Website:
157	Turnstone Trustees (Mauritius) Limited C/o Turnstone Corporate (Mauritius) Limited Ebene House, 3^rd Floor 33 Cybercity Ebene	Tel (230) 467 4693 Fax (230) 466 8443 Contact persons & emails: Nadia Rochecouste : nadia.rochecouste@turnstone-mu.com Kaviraj Rookny: kaviraj.rookny@turnstone-mu.com Michael Lam: michael.lam@turnstone-mu.com
158	FWM Trustees Ltd Bowen Square Dr Ferriere Street Port Louis	Tel (230) 213 6600 Fax (230)211 9833 Contact Person : Mr. Lutchmeeprakash Seepersand
159	The Oceanic Trust Co. Ltd Business Address: 4^th Floor, Les Cascades Building Edith Cavell Street Port-Louis	Tel (230) 202 4747 Fax (230) 202 4760 Email services.kfs@key.intnet.mu
160	GIPI Trustees Limited Suite 308, St James Court St Denis Street Port Louis	Tel (230)212 6448 Fax (230)212 5063 E-mail gipitrustees@intnet.mu Contact Person : Mrs Marie-Claire Tze

IFSB: Seminar on the Role of Islamic Finance in the Development of Africa

The Islamic Financial Services Board (IFSB) will organise its first Seminar on the Islamic financial services industry that specifically caters for African nations. The Seminar aims to discuss the potential outlook for Islamic financial services in the development of Africa, the building blocks of Islamic financial services, some major instruments of Islamic financial services and products, and present opportunities and future challenges for regional cooperation in developing the soundness and stability of the Islamic financial services industry in Africa. The Seminar, which will be held on 6 to 7 September 2012 in Mauritius will be preceded by an Introductory Workshop on Islamic Finance and the IFSB Standards on 5 September and the Bank of Mauritius will be the host for both the Seminar and Workshop.

Ernst & Young: The 2012 Worldwide Corporate Tax Guide

The Ernst & Young 2012 Worldwide Corporate Tax Guide summarizes the corporate tax systems in 154 jurisdictions.

10 July 2012

Guernsey offering foundations alternative

Insight into what the introduction of Guernsey’s new foundations law means for the wealth management industry will be given at a London seminar in September.

The law, which is expected to be introduced by the end of this year, has already been agreed in principle by the Island’s Government, the States of Guernsey. The legislation will go before the States later this month and, subject to approval, will be sent for final ratification by the UK’s Privy Council. Following enactment, the law will provide Guernsey’s fiduciary sector and its clients with additional choice and flexibility when setting up wealth management structures in the Island.

Fiona Le Poidevin, Chief Executive of Guernsey Finance – the promotional agency for the Island’s finance industry, said: “Guernsey was one of the first jurisdictions to introduce trust law and we now want to further develop that expertise and experience built up over many years in the fiduciary sector by looking towards the future and introducing new products. The panel will give advisers a practical insight into how foundations can be used and use case studies to illustrate this.

“The event will also explore why it’s equally important to consider a foundation as well as a trust when adopting wealth structures because they may appeal more to some clients. In particular, the foundation structure is attractive to clients based in civil law jurisdictions in Europe and also further afield in the emerging markets of China, Russia and Latin America where the trust concept is less familiar than in common law countries such as the UK.”

The Guernsey Finance seminar, titled The Foundations Alternative, takes place from 4pm on Tuesday 18 September in the Stevenson Theatre at the British Museum, Great Russell Street. It will be followed by a drinks reception at 6pm.

Guest speakers at the event will be announced shortly but will consist of both Guernsey and off-Island practitioners.

09 July 2012

'Directors induction programme is key to their success' says new ICSA guidance

The Institute of Chartered Secretaries (ICSA) has today published an updated version of its guidance note on the induction of directors. The revised guidance is designed to advise organisations on the topics and documents they should consider when designing an induction programme for newly appointed directors.

ICSA is currently updating its suite of guidance notes which were previously appended to the Higgs guidance. The Financial Reporting Council’s ‘Guidance on Board Effectiveness’, which replaced the Higgs guidance, was drafted by ICSA with the help of a Steering Group.

The Higgs Suggestions for Good Practice’ published in 2003 stated that the induction process should aim to achieve three things and these remain relevant today:

a) Build an understanding of the nature of the company, its business and the markets in which it operates

b) Build a link with the company’s people

c) Build an understanding of the company’s main relationships

This note draws out two further elements: ensuring an understanding of (i) the role of the director and (ii) the framework within which the board operates. Particular attention is paid to the way the induction programme is designed because the way in which it is delivered is considered to be essential to its success.

Seamus Gillen, ICSA’s Director of Policy, said:

‘The publication of this guidance note is timely, given the continuing demands - not least from the regulators, the FSA and the FRC - for directors to carry out due diligence to ensure their boards function properly. Directors who are fully prepared to carry out their role are more likely to make good decisions and maximise the opportunities for the company’s success in the long term.’

The guidance note can be downloaded here

07 July 2012

Mauritius: Address of Hon. Boolell at IFA conference, Mumbai

Distinguished dignitaries,

Ladies and gentlemen,

A very good morning to you all.

It is gives me great pleasure to address such an august gathering in a country with which we shared very strong cultural, political social and business ties for more than a century, which I am sure can only be further strengthened with time. I wish to congratulate the International Fiscal Association (IFA) Western Regional Chapter (WRC) of India for taking such a laudable initiative to reflect on what has become practically inevitable in today’s global economy, that is, the emergence of a new landscape in international taxation. I am equally thankful to the IFA WRC for this address today.

Ladies and gentlemen, the current turmoil that the world economy is going through has caused policy makers across many countries to become very vigilant and adopt prudent measures that are in line with international norms and best practices. Strengthening transparency and accountability by ensuring necessary disclosures; enhancing sound regulation by enhancing regulatory regimes; and reinforcing international cooperation by formulating consistent global regulations to reinforce surveillance, combating money laundering and terrorist financing and promoting international tax information exchange; are just a few of the measures that are increasingly being adopted.

The recent report by the Global Forum on Transparency and Exchange of Information for Tax Purposes presented to G20 leaders at their summit in Mexico two weeks ago states that significant and steady progress is being made towards promoting cross-border exchange of information effectively and tackling tax evasion. According to the OECD, more than 800 cross-border exchange of information agreements have been signed globally and 35 countries are now signatory to the multilateral convention on Mutual Administrative Assistance in Tax Matters, which offers a wide range of tools to facilitate cross-border tax cooperation in view of countering tax evasion. Growing adherence to automatic exchange of tax information mechanisms between countries have equally been noted in recent times.

I must here highlight that Mauritius has always, in line and in compliance with international norms and standards, been a cooperative and transparent jurisdiction. Mauritius has always been committed to fully comply with other Governments, authorities to ensure effective and timely exchange of information. To this end, the competent authorities have signed a number of Memorandums of Understanding (MOU) with leading financial centres and regulators around the world. As at date, the Financial Services Commission in Mauritius, the regulator of all non-banking financial institutions and activities, has signed MOUs with 20 regulators with respect to information exchange, including one with the Securities and Exchange Board of India (SEBI). Effective exchange of information mechanisms are equally in place between the Revenue Department of India and the Mauritius Revenue Authority. It should also be noted that Mauritius has so far received around 170 requests for bank and tax information from India and all information requested have been duly submitted by the Mauritius authorities.

Ladies and gentlemen,

The Supplementary Peer Review Report on Mauritius which examines laws and regulations (Phase 1 reviews) and implementation of the international standard of transparency and exchange of information (Phase 2 reviews) was published by the Global Forum on Transparency and Exchange of Information for Tax Purposes in October last year. It is crucial to note that Mauritius is actually among the very few countries which has voluntarily agreed to do such a combined Phase 1 and Phase 2 assessment, the outcome of which fully supports the fact that Mauritius is wholly in line with the international movement towards more transparency and exchange of information and that we have never refused to sign an exchange of information agreement. The same report equally emphasizes that over the years, Mauritius has developed a legal and regulatory framework that gives its competent authority broad access to the full range of foreseeably relevant information.

We do realize, that it is however necessary to strike a balance between the need for countries to administer and enforce their tax laws and privacy. To ensure this balance, the mechanism that we have in place ensures that:

i. Exchange of information is only done on request where it is “foreseeably relevant” to the administration and enforcement of the domestic laws of the treaty partner.

ii. No restrictions on exchange are caused by bank secrecy or domestic tax interest requirements.

iii. Rights of taxpayers are respected.

iv. Confidentiality of information exchanged is guaranteed.

Ladies and Gentlemen,

Mauritius has always been proactive and remains very committed to furthering transparency and substance in its financial centre. In the spirit of collaboration, we have taken a number of initiatives since 2006, favorably responding to requests made by other nations where relevant. To this end, I should mention that as at now, Mauritius remains the only treaty partner of India that has a mutually agreed Tax Residency Certificate mechanism in place. In 2006, we actually agreed, as requested by the Indian authorities, to the issue of the Tax Residence Certificates (TRC) on an annual basis by the Mauritius Revenue Authority (MRA) in view of further boosting the mechanism of preventing any type of round tripping from happening through Mauritius. The TRCs are issued on very strict conditions including:

i. The company shall at all times have at least two directors resident in Mauritius;

ii. All meetings of the Board of Directors shall be held, chaired and minuted in Mauritius;

iii. The company shall at all times keep its accounting records at its registered office in Mauritius;

iv. The company shall ensure that all its banking transactions are channeled through a bank account in Mauritius;

v. Approval of relevant authorities or a legal opinion in necessary to ensure that there is no round tripping in the GBC1 transaction; and

vi. All GBC1s are required, as per law, to having their accounts audited as per IFRS principles, amongst others.

In addition to preventing round tripping we have agreed to India posting a tax information officer on a permanent basis at the Indian High Commission in Mauritius to strengthen and speed up the exchange of information between our two countries.. And this arrangement is proving very efficient, as confirmed by the recent White paper on ‘Black Money’ issued by the Ministry of Finance of the Government of India in May 2012. The report states that an effective and proven mechanism exists between India and Mauritius with respect to information exchange.

Ladies and gentlemen,

We remain dedicated to enhancing collaboration at all levels, be it:

i. unilaterally within established institutions in Mauritius;

ii. bilaterally between us and other nations, whereby we are signing more Tax Information Exchange Agreements and continuously upgrading our exchange of information provisions;

iii. regionally, Mauritius being an active member and currently President of the Eastern and Southern Africa Anti Money Laundering Group (ESAAMLG)

iv. globally through our signatories and compliance to international norms and standards.

We have also sponsored the membership of India in the Egmont group

As the world moves towards more complex financial transactions and structures, it is imperative that international norms are adhered to. As an International Financial Center of high repute, Mauritius fully supports international initiatives for promoting greater convergence in the global financial standards and combating money laundering and terrorist financing such as the Financial Action Task Force (FATF), Basel, the International Organisation of Securities Commissions (IOSCO) and the International Association of Insurance Supervisors (IAIS). In this regards, I must equally highlight that one of the world’s most stringent and referred to Anti Money Laundering legislations, as viewed by leading international bankers, was enacted in Mauritius back in 2002. This clearly shows the proactiveness of Mauritius to prevent any kind of illicit transactions from being structured in the country. We fully support and join India in fighting any kind of Money Laundering and tax evasion schemes. We have introduced the requirement to identify beneficial owners. We are equally determined to continuously innovate our product offerings. Over the last six months, we have introduced legislations allowing new products like Limited Partnerships and Foundations, cementing our position as a leading IFC.

Ladies and gentlemen,

What I have mentioned so far is clear testimony that Mauritius understands the importance of comprehensive tax information exchange and for jurisdictions to adhere to the same highstandards of information exchange and cooperation in taxmatters. As elaborated, we have all necessary elements in placeto achieve effective exchange of information and further collaborate with respective authorities worldwide. Mauritian institutions remain committed to fully collaborate as necessary with relevant counterparts. To this end, Mauritius engages itself to further secure and sign more Tax Information Exchange Agreements (TIEAs) as well as enhance already existing exchange of information mechanisms, in its network of Double Taxation Agreements (DTAs). Speaking about DTAs, I should highlight that much concerns have been raised lately in the media about the India Mauritius DTA. I wish to reaffirm, that following the meeting of Dr the Honourable Navinchandra Ramgoolam, Prime Minister of the Republic of Mauritius with Sri Manmohan Singh back in February this year during his State Visit to India, both nations are working towards achieving a win-win and mutually agreeable and beneficial solution to the concerns being raised by India, for which Mauritius has already made counter proposals. The Indian Prime Minister reaffirmed, during the meeting I had this week with him that India will stand by Mauritius on economic, security ans matters of mutual interest. We remain convinced that through our on-going dialogue with India, within the framework of the Joint Working Group, the mutual interest of our two friendly countries would be safeguarded, thus providing greater certainty and stability to the global investors’ community. The Joint Working Group on the India Mauritius DTAC will meet from 22 to 24 August in Mauritius.

Ladies and gentlemen,

It is true that Mauritius offers fiscal efficiency to global investors exploring primarily emerging markets and increasingly Africa. However, our benefits are not limited to our wide network of DTAs only (38 in total, 14 with Africa). Our jurisdiction is fast positioning itself as a risk mitigating platform for investing in Africa through its wide network of Investment Promotion and Protection Agreements (IPPAs) (37 signed, 19 with Africa). Mauritius also offers the best doing business environment in Africa as per the World Bank’s Doing Business Report. The same report ranks Mauritius 23rd globally. We equally excel in a number of rankings, including the:

i. Mo Ibrahim index of good governance (1st in Africa),

ii. Index of Economic Freedom (1st in Africa & 8th globally); and

iii. Forbes Best Countries for doing business (1st in Africa & 19th globally), to mention but some.

The Government of Mauritius remains strongly committed to further enhancing the position of Mauritius as the lead investment platform of choice for Africa. Chinese firms are already actively using Mauritius as their business hub and access centre for Africa. I am confident that as Indian corporate firms set to increase their footprints across Africa, Mauritius will become their natural platform and partner. In fact, figures published by the RBI confirm the fact that Indian firms prefer to use Mauritius for their outbound investments. From January this year till May end, total outbound investment made by Indian nationals through Mauritius amounted to nearly USD 600 million; thus positioning the jurisdiction as their preferred partner.

Ladies and gentlemen, on this note, I would like to wish you all a very successful second day of the conference and reassure you of the commitment of Mauritius as a collaborative jurisdiction amidst changing landscape in international taxation.

06 July 2012

Hedgeweek Special Report: Guide to Setting up Alternative Investment Funds 2012

The 2012 experts' guide to the world's key international funds jurisdictions

Download Hedgeweek Special Report Guide to Setting up Alternative Investment Funds 2012

Mauritius-India Relations: Foreign Affairs Minister on visit to India

The Minister of Foreign Affairs, Regional Integration and International Trade, Dr. Arvin Boolell, is on an official visit to India from 04 to 07 July 2012.

Dr Boolell is having discussions with the Indian authorities on the forthcoming meeting of the Joint Working Group (JWG) in Mauritius. The Indian authorities have agreed for an early renegotiation of the India-Mauritius Double Taxation Avoidance Convention (DTAC) and consequently the JWG will meet on 23 and 24 August 2012.

The Minister yesterday met Dr. Manmohan Singh, Indian Prime Minister, Mr. S. M. Krishna, the Minister of External Affairs, Mrs. Sushma Swaraj, Leader of the Opposition, the corporate and the press.

Discussions with Indian authorities focused mainly on how the two countries can strengthen their bilateral cooperation and ways to resolve outstanding issues on a win-win basis, with emphasis on the DTAC.

Discussions on the DTAC have centered on how to resolve outstanding problems and focused essentially on exchange of information, curbing of round-tripping, enhancing of substance and providing certainty, clarity and stability to the Convention.

The Minister is meeting with a number of dignitaries in New-Delhi and will then be proceeding to Mumbai where he will address the International Fiscal Association Conference being held on 6-7 July 2012.

05 July 2012

Bedell Cristin: New legislation allows for incorporation of foundations in Mauritius

The Foundations Act 2012 (the "Act") came into force on 1st July 2012. This new legislation allows for the incorporation of foundations in Mauritius and offers flexibility in terms of structuring options.

Foundations are appealing to clients who are in civil law countries and who may not be familiar with the concept of trusts and may be used for, inter alia, private wealth management and estate planning by high net worth individuals.

A Mauritian foundation is an incorporated vehicle capable of carrying on or undertaking any business or activity in or outside Mauritius, entering into any transactions and holding assets. A foundation may be set up to achieve both charitable and non charitable objects and can be either to benefit a person or class of persons or to carry out a specified purpose. It acts through its council, which is the body charged with the administration of the foundation's assets and the attainment of its objects.

It may also, upon application to the Financial Services Commission of Mauritius, hold a global business licence and may elect to be tax resident in Mauritius to benefit from the network of tax treaties which Mauritius has with 36 countries.

The key features of the Act specifically relate to the following areas:

Registration of a Foundation
The Founder
The Foundation Council
The Beneficiaries
The Secretary
The Protector
The Charter
Articles of Foundation
Termination of a Foundation
Migration

04 July 2012

Mauritius: FSC Releases Annual Report 2011

FSC Annual Report 2011

03 July 2012

EU: Commission proposes legislation to improve consumer protection in financial services

The financial crisis has become a crisis of consumer confidence. Lack of transparency, low awareness of risks, and poor handling of conflicts of interest have meant that consumers across the EU have been repeatedly sold investment and insurance products that were not right for them. Consumers have had their faith in the financial sector shaken. In addition, existing legislation has not developed fast enough to reflect the growing complexity of financial services.

Only by taking steps to tackle these shortcomings can low consumer confidence be tackled, laying strong foundations for growth in the EU. Strong, well-regulated retail markets that place the best interests of consumers at their heart are necessary for consumer confidence and economic growth in the medium and longer term. That is why today, the Commission has presented a legislative package that raises standards and removes loopholes for the benefit of consumers. Specifically, the package proposes new, consumer-friendly standards for information about investments, raises standards for advice, and tightens certain rules on investment funds to ensure their safety.

Internal Market and Services Commissioner Michel Barnier said: "In the aftermath of the biggest financial crisis in recent memory, the financial sector must place consumers at its heart. Retail products must be safer, information standards must become clearer, and those selling products must always be subject to the highest standards. That is why we have adopted a package solely dedicated to consumers, so that they can choose financial products based on clear and sound information and professional advice which puts the consumer's interests first."

Key elements of the package

The package is composed of three legislative proposals: a proposal for a regulation on key information documents for packaged retail investment products (PRIPS), a revision of the Insurance Mediation Directive (IMD), and a proposal to boost protection for those who buy investment funds (currently governed by the Directive on Undertakings for Collective Investment in Transferable Securities (UCITS).

Packaged retail investment products (PRIPS)

The Commission's PRIPS proposal improves the quality of information that is provided to consumers when considering investments. Investment products are complex and it can be difficult to compare them or fully grasp the risks involved.

The consequences of taking unexpected risks and facing consequent losses can be devastating for consumers, given that investments often form the backbone of a consumer's life savings. Given an EU retail investment market of up to 10 trillion euro, buying wrong or unsuitable products can quickly become a major problem.

The Commission proposal aims to inform consumers in a format easy to understand by introducing a new, innovative standard for product information, one that is short and plain-speaking, and thus far more consumer-friendly. This document is called the 'Key Information Document' (KID). The proposal foresees that every manufacturer of investment products (e.g. investment fund managers, insurers, banks) will have to produce such a document for each investment product.

Each KID will provide information on the product's main features, as well as the risks and costs associated with the investment in that product. Information on risks will be as straight-forward and comparable as possible, without over-simplifying often complex products. The KID will make clear to every consumer whether or not they could lose money with a certain product and how complex the product is.

The KIDs will follow a common standard as regards structure, content, and presentation. In this way, consumers will be able to use the document to compare different investment products and ultimately choose the product that best suits their needs.

The products for which a KID will be required include all types of investment funds, insurance-based investments and retail structured products, in addition to private pensions.

Insurance Mediation Directive (IMD) Revision

The Commission is proposing a revision of the IMD, which currently regulates selling practices for all insurance products, from general insurance products such as motor and household insurance to those containing investment elements. Consumers are often not aware of the risks associated with the purchase of insurance cover. Whilst accurate professional advice is crucial for insurance sales, recent surveys1 show that more than 70% of insurance products are sold without appropriate advice. The current EU legislation does not deal in detail with the sale of insurance products, rules differ across Member States, and apply solely to intermediaries.

The goal of the Commission's proposal is to upgrade consumer protection in the insurance sector by creating common standards across insurance sales and ensuring proper advice. It will do so by improving transparency and establishing a level playing field for insurance sales by intermediaries and sales by insurance undertakings. To achieve this, the following changes are proposed:

The same level of consumer protection will apply, regardless of the channel through which consumers purchase an insurance product. Whether a consumer purchases a product directly from an insurance undertaking or indirectly from an intermediary (e.g. an agent or a broker), the consumer will receive the same level of protection. This does not exist today as the current IMD only covers sales provided by intermediaries.
Consumers will be provided in advance with clear information about the professional status of the person selling the insurance product. Rules will be introduced to address more effectively the risks of conflict of interest, including disclosure of the remuneration received by sellers of insurance products.
Insurance product sales will have to be accompanied by honest, professional advice.
It will be easier for intermediaries to operate cross-border, thus promoting the emergence of a real internal market in insurance services.

Undertakings for Collective Investment in Transferable Securities (UCITS) V

The original UCITS Directive created the internal market for investment funds in Europe. The current EU legislation for investment funds (the UCITS Directive) has been the basis for an integrated market facilitating the cross-border offer of collective investment funds. Managing almost €6 trillion in assets2, UCITS have proved successful and are widely used by European retail investors. UCITS are also regularly sold to investors outside the EU where they are valued due to their high level of investor protection.

The Commission's proposed amendments to the current UCITS rules are based on the experience from the financial crisis, so as to continue to ensure the safety of investors and the integrity of the market. In particular, the proposal will ensure that the UCITS brand remains trustworthy by ensuring that the depositary's (the asset-keeping entity) duties and liability are clear and uniform across the EU.

Today's proposal addresses three areas:

a precise definition of the tasks and liabilities of all depositaries acting on behalf of a UCITS fund;
clear rules on the remuneration of UCITS managers: the way they are remunerated should not encourage excessive risk-taking. Remuneration policy will be better linked with the long-term interest of investors and the achievement of the investment objectives of the UCITS; and
a common approach to how core breaches of the UCITS legal framework are sanctioned, introducing common standards on the levels of administrative fines so as to ensure they always exceed potential benefits derived from the violation of provisions.

Letter from Geoff Cook, Chief Executive, Jersey Finance to The Guardian – in response to article ‘Crown Dependencies: The Loophole Islands’

Dear Sir,

In headlining your editorial ‘Crown Dependencies: The Loophole Islands’ (29th June 2012) you reveal that you have fundamentally failed to understand the true nature of Jersey’s finance industry. Such a prominent misrepresentation cannot go unchallenged.

There has, over the last week or so, been a frequent conflation of the terms ‘tax avoidance’ and ‘tax evasion’. The latter is the illegal concealment of taxable activity. It is a criminal offence in Jersey and the island has no need or desire to engage in schemes designed to help companies or individuals evade UK tax.

As the Guardian does implicitly concede, ‘tax avoidance’ is more complicated. It can mean no more than legally minimising the tax you have to pay. This is something that many individuals and companies (including Guardian Media Group) seek to do legitimately. It could even be used to refer to such accepted schemes as ISAs.

For the record, Jersey will accommodate legally-planned tax schemes. If these schemes are challenged by HMRC and deemed to be illegal, Jersey will not house them. If an elected British government disagrees with the propriety of the schemes, it should ensure that the law is amended to make them illegal.

Tax planning of this type is actually a very small part of Jersey’s overall finance industry and you choose to ignore that much the greater part of Jersey’s activity is actually focussed on the pooling and structuring of international funds that have already been taxed. Jersey has been successful as an international finance centre because it is a stable, well regulated jurisdiction with experience and skills which enable it to compete with other onshore and offshore locations around the world.

Your readers should be aware that in abusing Jersey with the term “Loophole” you are performing a gross disservice to its hardworking people. Moreover, your assertions ignore major academic studies by numerous highly respected institutions which evidence empirically that small international finance centres such as Jersey are in fact accelerators of global economic activity. Far from detracting from major economies, there is clear evidence that they provide a significant net benefit.

Yours faithfully,

Geoff Cook

Chief Executive

Mauritius: Private Pension Schemes Bill

The main object of the Private Pension Schemes Bill is to provide for a regulatory and supervisory framework for the operation of private pension schemes in order to ensure the protection of beneficiaries and the soundness of such schemes.

2. The Bill provides that the Financial Services Commission shall be responsible for the administration of this Act and shall, while regulating private pension schemes –

(a) maintain a fair, safe, stable and efficient private pension industry;

(b) promote confidence in the private pension industry;

(d) ensure that the activities of a private pension scheme are not used in furtherance of, or for a purpose connected with, a financial crime;

(e) ensure the orderly growth of the private pension industry in Mauritius; and

(f) maintain the good repute of Mauritius as a financial centre.

3. The Bill further makes provision for –

(a) the administration and constitution of private pension schemes;

(b) the management of the assets of private pension schemes;

(d) investigations to be carried out on the activities of private pension schemes;

(e) the suspension, termination or revocation of private pension schemes; and

(f) other related matters.

India-Mauritius DTAA: India Agrees for Early Renegotiation of the Treaty

The Indian authorities have agreed for an early renegotiation of the India-Mauritius Double Taxation Avoidance Agreement (DTAA) and consequently the Joint Working Group (JWG) will meet on 23 and 24 August 2012 in Mauritius.

This follows an official request made in April this year by the Vice-Prime Minister, Minister of Finance and Economic Development, Mr Xavier-Luc Duval, to the Indian authorities for an early meeting of the JWG in Mauritius to carry on with negotiations under the India-Mauritius DTAA.

The issue regarding an early meeting of the JWG to pursue further discussions on the DTAA was also raised by Vice-Prime Minister Duval with the Minister of Finance of the Republic of India, Mr Pranab Mukherjee, during the IMF/World Bank Spring Meetings in Washington in April this year.

The Minister of Foreign Affairs, Regional Integration and International Trade, Dr Arvin Boolell, who is leaving for India today, will have discussion with the Indian authorities on the forthcoming meeting of the JWG in Mauritius.

Following the measures announced in the Indian budget, particularly the introduction of the General Anti-Avoidance Rules (GAAR), it has been deemed necessary for Mauritius to clear any uncertainties arising under the DTAA. Because of the possibility of overriding effects of the GAAR on tax treaties signed by India with other countries, the impact of the measures announced in the budget has raised concern from these countries. There is apprehension that the GAAR provisions and the treaty overriding provision would impact majorly on taxpayers outside India.

It will be noted that at the previous meeting of the Joint Working Group in Port Louis in December 2011, Mauritius has been attentive to the concerns expressed by the Indian authorities arising from the operation of the DTAA. Mauritius has offered, as part of an all-inclusive package, to consider changes to the treaty that would address the Indian concerns, while ensuring that these do not affect the mutually beneficial effects of the treaty. Concrete proposals have been made to India and the Mauritian Government is optimistic that both sides can conclude a mutually acceptable package that would yield a win-win outcome for both parties.

So far, the existing DTAA between Mauritius and India has helped Mauritius in the development of its financial services sector and the Treaty has also benefited India in terms of Foreign Direct Investment over the last 20 years.

02 July 2012

CRESC - Scapegoats aren't enough: a Leveson for the Banks?

Since the start of the great financial crisis in 2009 researchers at CRESC have been arguing that there are fundamental defects in our financial system, and that these won’t be solved by short term hunting down of scapegoats. Now they have drawn on their research to demonstrate exactly this point about the LIBOR scandal. Politicians, bankers and regulators have responded to the scandal with the traditional Claude Rains defence: like Captain Renault, the character played by Rains in Casablanca, they are shocked, truly shocked, to discover that illicit gambling has been going on in the casino of the City of London. But CRESC research shows that the problems won’t be solved by firing a few top bankers, prosecuting a few white-collar criminals, or even by conducting an inquiry into the workings of LIBOR – necessary though all these are.

CRESC research shows that:

The claimed economic benefits of the City for the ‘real’ economy are an illusion, the product of effective PR over the years by the City elite
The PR offensive has been effective because the City has enjoyed unique privileges in the government of finance, and unique access to top policy makers
The result is that the City is a web of markets proliferating increasingly complex and risky financial instruments that do little or nothing to promote welfare or efficiency in the wider economy.

Our researchers argue that:

If there to be an inquiry it has to be on the scale of the Leveson Inquiry into the earlier scandal of phone hacking, with the power to uncover the cultures and institutions that persuaded City operators that they could operate with impunity.
Even more important than an inquiry, our research argues that there is a need for a fundamental redefinition of the social and economic roles of finance. Banks must become public utilities with the duty to serve the wider economy, not players in casinos.

Andrew Bowman states “we have probably reached the limits of the current regulatory framework when the penalty is a £290m fine which equates to just 4.2% of Barclays pre-tax profit and is equivalent to 13 days of profit”.

John Law states that “talking about good and bad culture is simplistic and will limit any inquiry because cultures and structures go together, and we need to address the culture of finance via structural and organisational reforms which get to the heart of banking business models”.

Mick Moran states that “any inquiry needs to have a combination of judicial powers, a broad remit, freedom from government influence and a panel of investigators drawn from a wide range of interests in British society rather than the narrow interests of financial services”.

Karel Williams, states, “we need to set the finance sector’s contribution to the UK economy in context. During the six years before the financial crisis, manufacturing contributed more than double the tax receipts and employed 1.5 million more”.

CRESC discussion paper: Scapegoats aren't enough. a Leveson for the Banks?

Atlas Corporate Services Expands its Services with new Mauritius Office

Atlas Corporate Services, a leading global provider of corporate, trust and fund administration services with both corporate and private clients, today announces its new office opening in Mauritius. This new office supplements the existing HQ in the UAE and has been introduced to target the growing opportunities in the region, in particular amongst the African and Indian markets. The Atlas office is both licensed and regulated by the Financial Services Commission of Mauritius.

Mauritius has been identified by the Atlas directors as a strategic location for a new physical presence in which to expand Atlas' services, being white listed by the OECD, and offering a large pool of readily available and highly qualified lawyers, accountants and administrators as well as established banking institutions and an international stock exchange. Furthermore, the island offers a gateway for investing in African markets, with a time zone where business can be conducted with the Far East in the morning, Europe at mid-day, and the States in the afternoon.

Most crucially, a presence in Mauritius will offer significant opportunities to target inbound and outbound investments in the Indian economy, one of the fastest growing and most vibrant economies in the world. At the present time the tax treaty between the two countries means that companies in Mauritius are not taxed on investments in India, offering significant opportunities for international tax planning. A Mauritius company also has a treaty in place with China.

Commenting on the new office opening Paul Hymers, Finance Director said, "We believe that Mauritius represents a rich opportunity for us in terms of both existing and new clients. As well as continuing our corporate services solutions, we are also looking forward to forging links with the local market for wealth planning and insurance opportunities, and are encouraged by the strong relations with Africa and India."

01 July 2012

Mauritius Foundations

The enactment of the Foundations Act 2012 ("the Act") enables the global business sector to offer an additional financial vehicle to high net worth individuals and corporate entities both local and foreign that prefer to entrust the management of their assets to a legal entity. The Foundation Act 2012 is in line with ongoing efforts to increasingly promote Mauritius as an International Financial Centre of global repute and to diversify its product range. Such law exists in most of the competing offshore jurisdictions, including Jersey, the Isle of Man and the Bahamas.

Foundations are utilised for asset management in civil law jurisdictions whereas Trusts provide a similar legal framework in common law jurisdictions. Mauritius, professing a hybrid of the two laws, now has the Foundations Act 2012 to supplement the Trusts Act 2001 in a bid to reach out to a wider clientele across the globe. The Foundations Act 2012 will therefore secure business opportunities for Mauritius in countries where the concept of Trust is not well understood or popular.

A Trust involves a Settlor transferring the title of his assets to a Trustee for management, in the interests of specified beneficiaries. For the same reasons, a Foundation involves a Founder transferring the title of his assets to an entity legally created for that purpose. Here the functions of a trustee are performed by the Council of the Foundation and are defined in the Charter of the Foundation. The equivalent under Trusts is the trust deed between the Settlor and the Trustee.

A settlor under the Trust Act 2001 relinquishes the ownership of assets and is not allowed to interfere in the operational management of assets. Settlor interference makes the Trust null and void. Although, under Foundations, the client relinquishes the title of his assets, the Founder can still have a legitimate say in the operational management of assets by becoming a member of the Council. Council members collectively manage the Foundation’s assets contributed by one or more Founders.

In general, Foundations may not offer as much secrecy as Trusts do. As an incorporated entity, a Foundation opens itself to public scrutiny. Thus Foundations offer greater transparency in property and estate management, which is consistent with government policy.

Under the Foundations Act 2012, a Foundation registered abroad can be redomiciled in Mauritius. Similarly a Foundation registered in Mauritius can be redomiciled abroad. This latter provision enables the clients of the global business sector to shift the management of their assets closer to home if that option gives them greater sense of comfort and security. Flexibility in domiciling Foundations makes the product all the more attractive.

This Foundation Act 2012 provides for Foundations to be either charitable or non charitable or both. For tax purposes, Foundations will be treated on similar lines as a Trust. A Charitable Foundation will be tax exempt while a non charitable Foundation will be taxed as a Trust. In the event that a Foundation has both charitable and non charitable objects, it will be taxed on all its profits as a non charitable Foundation to avoid the problematic issue of apportionment.

Main features of the Foundation Act 2012

Part I sets the purpose and objects of Foundation. It also sets out who is a Founder.

Part II of the Act deals with the mode of establishment of, its charter, articles and property of a Foundation, the powers and obligations of a Foundation as well as the duties and powers of the Council. A Foundation may be established through registration or by means of a duly executed will. The Foundation shall acquire legal personality when it has been registered and issued with a certificate of registration by the Registrar. Provision has also been made for the appointment and qualification of a secretary and the appointment of auditors. Every Foundation shall, at all times, have a registered office in Mauritius to which all communications and notices may be addressed and which shall constitute the address for service of legal proceedings on the Foundation.

This part also specifies that every Foundation shall have a Council which shall administer the property of the Foundation and carry out the objects of the Foundation. The Council of a Foundation shall, at all times, have at least one member who shall be ordinarily resident in Mauritius. Also, the Council shall have the duty to act honestly and in good faith and to exercise the necessary care, diligence and skill.; and it shall have the power to appoint such officers as may be necessary for the effective discharge of its duties and obligations. Officers and members of the Foundation Council shall be personally liable in the event of fraud, wilful misconduct or gross negligence committed by that person.

Part III deals with the name of the Foundation and the restriction in the use of certain words in the name of a Foundation.

Part IV and V concern the registration, the keeping and inspection of register. A Foundation registered under this Act shall have a separate legal personality as from the date of issue of a certificate of registration. Any action conducted by the Foundation prior to registration may be ratified, after the date of registration by a resolution of the council. The duty of the Registrar is to maintain a record and all the relevant documents of each foundation registered under this Act. A person may, on payment of the prescribed fees and with the authorization of the Registrar, inspect the register and the relevant documents.

The capacity of the Foundation to undertake a business and the disclosure of interest by concern parties are dealt with under Part VI. The beneficiary of a Foundation has the right to obtain information in relation to the Foundation.

Part VII relates to the keeping of records and accounting. A Foundation shall have proper books of accounts to be kept at its registered office or any other place as may be determined by the council and it shall be available for inspection by any authorized person.

Part VIII deals with the removal and restoration of a Foundation on the register. It should be noted that the register will be kept by the Registrar of Companies. If the Registrar believes that a Foundation registered under this Act no longer satisfies the requirement prescribed for a Foundation, then the Registrar shall, by way of written notice, inform the Foundation and have the name of the Foundation removed from the register after giving reasonable opportunity to the Foundation to make representation on the matter.

The cases when a Foundation can be liquidated and winding up of a Foundation are defined in Part IX. A foundation shall be liquidated provided that a notice of liquidation has been signed by a member of the council, delivered to the Registrar and published in two daily newspapers. For the distribution of assets upon liquidation and winding up this is provided under the clause 44 of the Act.

Under Part X, the Registrar is the one who is responsible to issue a certificate of current standing. The certificate of current standing shall contain the statement as to whether the foundation is in the process of being wound up and dissolved or any proceedings to remove the Foundation from the Register have been instituted. Moreover every officer, protector, member, any other supervisory person, or auditor shall not disclose any confidential information available to him to any person, or make use or act on such information, except for the purposes of the Foundation as mentioned in the Act. This Part also deals with the re-domiciliation of Foundations.

The relevant fees to be paid by the Foundation are listed in the schedule.

12 July 2012

Mauritius - Management Companies (12 July 2012)

IFSB: Seminar on the Role of Islamic Finance in the Development of Africa

Ernst & Young: The 2012 Worldwide Corporate Tax Guide

10 July 2012

Guernsey offering foundations alternative

09 July 2012

'Directors induction programme is key to their success' says new ICSA guidance

07 July 2012

Mauritius: Address of Hon. Boolell at IFA conference, Mumbai

06 July 2012

Hedgeweek Special Report: Guide to Setting up Alternative Investment Funds 2012

Mauritius-India Relations: Foreign Affairs Minister on visit to India

05 July 2012

Bedell Cristin: New legislation allows for incorporation of foundations in Mauritius

04 July 2012

Mauritius: FSC Releases Annual Report 2011

03 July 2012

EU: Commission proposes legislation to improve consumer protection in financial services

Letter from Geoff Cook, Chief Executive, Jersey Finance to The Guardian – in response to article ‘Crown Dependencies: The Loophole Islands’

Mauritius: Private Pension Schemes Bill

India-Mauritius DTAA: India Agrees for Early Renegotiation of the Treaty

02 July 2012

CRESC - Scapegoats aren't enough: a Leveson for the Banks?

Atlas Corporate Services Expands its Services with new Mauritius Office

01 July 2012

Mauritius Foundations

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