Investment Fund – FSC in Mauritius

What is the FSC and what do they do?

The Financial Services Commission (FSC) Mauritius is the regulatory authority for Mauritius’s non-banking financial sector and global business. Established in 2001, the FSC licenses and supervises entities like investment funds, insurance companies and global business firms, ensuring compliance with financial regulations, anti-money laundering and investor protection. Its mission is to foster a fair, transparent financial sector and to promote Mauritius as a reputable global financial hub.

Why establish an Investment Fund in Mauritius? 

An investment fund established in Abu Dhabi benefits from:

Strong Regulatory Framework: The FSC Mauritius provides robust oversight, maintaining transparency and credibility within the financial sector.
Global Business Access: Mauritius is a member of the African Union, Commonwealth and World Trade Organization, offering advantageous access to African, Asian and European markets.
Extensive Tax Treaty Network: Mauritius has over 40 double tax agreements (DTAs) and multiple investment promotion and protection agreements, providing tax-efficient structures and investor protections for cross-border activities.
Stable Political and Economic Environment: The island nation is politically stable with a diversified economy, which attracts long-term investments and promotes investor confidence.
Skilled Bilingual Workforce: With English and French as official languages, Mauritius has a well-educated, multilingual workforce, making it ideal for servicing global clients.
Time Zone Advantage: Located between Asia, Africa and Europe, Mauritius’s time zone facilitates same-day business with these major regions.
Flexible Legal Structure Options: Mauritius offers versatile fund structures, including Collective Investment Schemes (CIS), Closed -end Funds, Variable Capital Companies (VCCs) and Protected Cell Companies (PCCs), catering to diverse investment strategies.
Attractive Tax Regime: Mauritius has a low corporate tax rate and offers various tax incentives, making it cost-effective for fund setup and management.

What is an Investment Fund?

An Investment Fund in Mauritius is a pooled investment vehicle that collects capital from multiple investors, aiming to collectively invest in a range of assets – such as equities, bonds, real estate, or alternative investments – to achieve a diversified portfolio and generate returns. The pooled structure allows investors to access a wider array of investment opportunities that they might achieve individually, benefiting from economies of scale and professional fund management.

Investment funds in Mauritius are overseen by the FSC, ensuring they operate within transparent and structured regulatory environment. This regulation is essential in building investor confidence, especially for foreign investors who seek a reputable, secure and efficient fund domicile.

Types and Features of Investment Funds

Mauritius provides a versatile range of fund structures tailored to different investment strategies and investor requirements. Each fund type includes sub-categories, offering additional flexibility:

Collective Investment Schemes (CIS): These funds pool investor capital to invest collectively in diversified assets and are managed by a CIS Manager, who oversees the fund’s operations and ensures compliance with regulatory and investment guidelines.

CIS (Single Fund): A standalone structure that focuses on a specific asset pool.
CIS (Multiple Funds): Allows for multiple funds within one CIS framework, with each fund having its own distinct investment portfolio.
CIS (Protected Cell Company): Offers asset segregation by establishing individual “cells,” safeguarding investor assets in each cell from the liabilities of others.

Closed-end Funds: Generally designed with a fixed capital structure and investment term, these funds are ideal for long-term investments in areas such as private equity and real estate.
- Closed-end Fund (Single Fund): A single, independent fund with a fixed capital base and set investment horizon.

- Closed-end Fund (Multiple Funds): Permits multiple closed-end funds under a single structure, with each fund maintaining its own investment objectives.
- Closed-end Fund (Protected Cell Company): Similar to CIS PCCs, this structure provides asset protection between cells, which is advantageous for funds managing diverse investment strategies.
Variable Capital Company (VCC): A highly flexible structure under the VCC Act, enabling the issuance of multiple share classes, each with separate asset and liability pools.
Foreign Schemes: Funds that are established in other jurisdictions but meet the regulatory standards of Mauritius may be authorized by the FSC to operate as Foreign Schemes within the country.

Would you like more information?

Application Fees

The FSC application fees vary depending on the fund structure and type. Specifically, fees can differ for umbrella funds and individual sub-funds. The FSC generally sets application fees based on whether the fund is structured as a Collective Investment Scheme (CIS), Variable Capital Company (VCC), or a Closed-end Fund, with additional considerations for Protected Cell Companies.

Annual Fees

The annual contributions payable to the FSC, vary based on the specific type of the fund and the license held with the FSC.

Establishing an  Investment Fund in Mauritius with SALVUS 

The SALVUS  Investment Funds Licensing team  comprises a group of specialists dedicated to guiding you through the entire process of registering your investment fund with the FSC Mauritius. Our team uses a meticulous project management approach to assist you in choosing the most suitable fund type and structure aligned with your business goals.

We collaborate closely with our clients and their teams to collect and prepare all necessary documentation for a seamless application submission. Additionally, we provide continuous support to ensure compliance with all regulatory requirements, helping you successfully launch and operate your fund.