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The long-awaited Foundations Act 2012 (the “Act”) was enacted by the Mauritius National Assembly in June 2012 and came into force on 1 July 2012. This new piece of legislation sets out the legal framework for the registration of foundations in Mauritius, adding to the existing suite of global financial service laws, including trusts. It is expected to attract substantial business opportunities from global investors, high-net-worth individuals and philanthropic organisations operating from civil law (including Islamic law) countries where the common law trust concept may not be that familiar or palatable.
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Mauritius Foundations Act: Laying the foundation