Foundations have features of both a Trust and a Company. Foundations can provide an alternative option for wealth management and succession planning.

A Foundation is established through Will or a Foundation Charter and is managed by a Council, which can include the founder.

The Foundation can be used to own shares and interests in private companies for charitable and non-charitable purposes: Succession Planning, Tax & Estate Planning, Asset financing and Assistance to charities.

Foundations are mostly used by clients from non-common law jurisdictions who are not familiar with Trusts or those who wish to use a legal entity for their activities while retaining the advantages and flexibility of a Trust.

A Foundation can apply for a Global Business Licence (“GBL”), entitling it to all requirements and benefits of being resident in Mauritius

Foundations are exempt from income tax in Mauritius when:

• The Founder is a non-resident or holds a GBL; and
• The Beneficiary is non-resident or holds a GBL.