Fund Manager Companies

The Securities Act 2005 and rules & regulations made under it allow for Fund or CIS Manager Companies to be set up and licensed in Mauritius. These are particularly beneficial for Investment Houses who manage Offshore Funds or Fund sponsors who have Offshore Funds set up worldwide. Mauritius has the advantage of having a modern and flexible securities law, it issues clear Fund Manager licences within a reasonable time, requires reasonable minimum capital requirement, charges low licence fees and has a low tax rate. Mauritius is one of the best places to save on costs for Investment Houses and Fund sponsors and at the same time enjoy the array of fund administrators, service providers and fund lawyers in the country. A CIS Manager is authorised under the Securities Act to carry out the following activities for the management of a Collective Investment Scheme including:
  • all administrative services required by the scheme;
  • provision of registrar and transfer facilities;
  • distribution of the securities of the scheme;
  • maintaining accounting records of the scheme;
  • giving investment advice in relation to the scheme;
  • managing the portfolio of the scheme

Insurance Cover Required

A CIS Manager is required to subscribe to an insurance policy against the following risks:
  • fraudulent activities of employees;
  • fraudulent instructions;
  • losses arising from the malicious or fraudulent corruption of electronic data or electronic transactions;
  • legal liability to third parties arising from breaches of professional duty.

Financial Statements Filing

  • A CIS manager shall file with the Commission interim financial statements prepared in accordance with IFRS within 45 days after the closing date of each quarter;
  • Every CIS manager shall, within 90 days of its balance sheet date, file with the Commission an annual report which shall include audited financial statements prepared in accordance with IFRS and audited in accordance with the International Standards on Auditing.

Staff Qualification

Staff employed must have relevant experience and qualification as required under the Securities Act.

Minimum Capital Required

A CIS Manager needs to have a minimum capital in place. Premier Professional Services to CIS Managers Premier Financial Services Limited provides the following services with respect to the activities of the CIS Manager:
  • Advice and Formation of the CIS Manager
  • Application and Renewal of CIS Manager Licence
  • Provision of registered office address.
  • Provide professional directors and qualified secretary resident in Mauritius.
  • Open bank account.
  • Carry out NAV calculations of Funds being managed (if required)
  • Preparation of quarterly accounts and filing with the authorities.
  • Prepare and file tax returns.


From 1st July 2008 to 30 June 2009, there were 29 CIS Manager licences that were issued by the Mauritius FSC.

If you require an Offshore Company or need an advice for your needs, please call our Expert Team who can assist you with your requirements. You are invited to call us at (230) 245 6703. You may send your enquiries by email: contact@premier.mu or by fax at (230) 245 6704.

 
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