In this ever-changing world, wealth protection is becoming very important.Our team can help you in preserving, growing as well as protecting your assets for future generations through our wealth preservation vehicles that would suit your needs and profiles.
Trusts are recognized in Mauritius under the Trust Act 2001. They are versatile and efficient vehicles used in the wealth management arena. Mauritius offshore trusts are legal structures used for asset protection, inheritance planning and wealth management purposes. The key point of the concept is the separation of legal and beneficial ownership: i.e. the property is legally owned by the trustees but is held and administered for the benefit of the beneficiaries or for a purpose.
Essentially, property or assets, whether tangible or intangible, are transferred by the settlor of the trust to the trustees, in accordance with terms set out in a trust deed, for the trustees to hold and administer for and on behalf of specified beneficiaries or for specific purposes. Mauritius trust law allows for the formation of life interest trusts, discretionary trusts, fixed interest trusts, purpose trusts, charitable trusts, protective trusts, asset protection trusts.
A Foundation offers a combination of a trust’s and a company’s characteristics and benefits and is appealing to clients who are familiar with civil law. They are efficient vehicles used in the wealth management arena, especially for asset holding, asset protection, succession planning, estate planning, holding structure for SPV or charitable and philanthropic causes.
A foundation is established by a Founder who donates assets with which to achieve the objects of the foundation. The objects can be both charitable and non-charitable, or both simultaneously, and can be either for the benefit of persons or class of persons or to carry out a specified purpose. The Founder’s intentions for the Foundation are set out in a charter to determine how the assets are to be dealt with, for what purpose or for whose benefit, although such objectives can be less specific provided the mechanism by which such decisions are to be made is clearly defined.