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| MAURITIUS / GLOBAL BUSINESS |
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TRI-PRO ADMINISTRATORS LTD
Level 2
Alexander House,
35,
Cybercity - Ebène,
Republic of Mauritius.
Tel: (230) 464-0889/ 464-9088
Fax: (230) 467-8858
Email: services@tri-pro.mu |
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| OUR SERVICES - COLLECTIVE INVESTMENT SCHEME |
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Collective Investment Scheme ('CIS' or Global Fund) may be constituted as a company, a trust, a Protected Cell Company (“PCC”) or any other legal entity approved by the Financial Services Commission (“FSC”) in Mauritius
- whose sole purpose is the collective investment of funds in a portfolio of securities, or other financial assets, real property or non-financial assets as may be approved by the FSC;
- whose operation is based on the principle of diversification of risk;
- that has the obligation, on request of the holder of the securities, to redeem them at their net assets value, less commission or fees; and
- where the participants do not have day to day control over the management of the property, whether or not they have the right to be consulted or to give directions in respect of such management.
There are more than 600 global funds licenced by the FSC as of September 2008, the majority of which are mainly vehicles of investment into India, China and Africa.
Types of Funds:
- Professional Collective Investment Scheme: for sophisticated investors only and as private placements;
- Specialised Collective Investment Scheme: for investment in real estate, derivatives and commodities;
- Expert Fund: minimum initial investment of US$ 100,000, for sophisticated investors; and
- Closed-end Funds
Salient features:
- Regulated environment;
- Funds can be structured as umbrella funds with investments in sub funds and the possibility of switching investments in sub funds without redemption;
- Closed-End Funds can invest in securities portfolio, real property and other financial and nonfinancial assets;
- A PCC provides legal segregation of liabilities between each cell;
- A Category 1 Global Business License is required;
- Set up time: 2 to 3 weeks if all required documents are provided;
- Taxed as a GBL 1 company; and
- Can access Double Taxation Avoidance Treaties network - a Tax Residence Certificate is required
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