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Offshore Trusts Report: Mauritius

Additional Provisions of the Trusts Act 2001

A purpose trust must have an enforcer whose duty is to enforce the trust in accordance with its terms and purposes.

The settling of immovable property in Mauritius on a trust of which a non-citizen is a beneficiary requires the approval of the Prime Minister under the Non-Citizens (Property Restriction) Act.

The Act allows for a protector of a trust to be appointed. His functions will be to advise the trustee of the trust. The exercise by the trustees of any of their powers and discretions shall be subject to the prior consent of the protector. The trust instrument may appoint as protector any person of full age and of sound mind, including the settlor, or any body corporate, any firm, partnership or group of persons, whether incorporate or unincorporate. The protector has a range of other powers and may also be a settlor, a trustee or a beneficiary of the trust.

The Act provides for the appointment of a custodian trustee which shall be a firm, a partnership or a body corporate and who will act on the instructions of a managing trustee.

The Act provides for the appointment of a managing trustee having the role and functions to manage the trust without being vested with the trust property which is vested in a custodian trustee.

The settlor or beneficiary of a trust may give to the trustees a letter of his wishes or the trustees may prepare a memorandum of the wishes of the settlor with regard to the exercise of any functions conferred on the trustees by the terms of the trust.

The number of trustees of a trust shall not exceed 4 of whom, at any one time, at least one shall be a qualified trustee.

Except where ordered by the Court or a Judge in Chambers a trustee shall keep as confidential and shall not be required to disclose to any person not legally entitled to it or be required to produce or divulge to any Court, tribunal, committee of enquiry or other authority in Mauritius or elsewhere, any information or document in his possession or under his control relating to:

  • the state and amount or any other details of the trust property;

  • the conduct of the trust administration;

  • the trustee's deliberations as to the manner in which a power or a discretion was exercised, or a duty conferred or imposed by the law or by the terms of the trust was performed;

  • the reason for any particular exercise of such power or discretion or performance of duty or the material upon which such reason will be or might have been based; or

  • the exercise or proposed exercise of such power or discretion or the performance or proposed performance of such duty.

However, these secrecy provisions are heavily compromised by a series of qualifications in respect of money laundering, international mutual assistance treaties etc.

The Report

Offshore Trusts Guide: Introduction

Offshore Trusts Guide: Jurisdictions

Bahamas Barbados Bermuda British Virgin Islands Cayman Islands Cook Islands Cyprus Gibraltar Guernsey Isle of Man Jersey Liechtenstein Madeira Malta Mauritius Monaco Nevis New Zealand Panama Seychelles Turks & Caicos Vanuatu