Family Offices

Empowering Wealth Management with the Family Office Licence Scheme in Mauritius: “Where Legacy Meets Opportunity.”

In today’s dynamic global landscape, High-Net-Worth (HNW) and Ultra-High-Net-Worth (UHNW) individuals and families require a sophisticated and secure platform to manage their wealth, assets, and legacy. Mauritius has emerged as a premier destination for this purpose, offering a modern and internationally compliant framework through its Family Office Licence Scheme.

At Osidan Management Services, we specialize in guiding our clients through the process of establishing and managing a Family Office in Mauritius. Our expertise ensures a seamless experience, allowing you to focus on your family’s financial future while we handle the complexities.

Mauritius: A Premier Global Financial Centre

Mauritius is a stable and reputable jurisdiction with a strong governance framework and established institutions ⁵. The country is fully compliant with international standards on transparency and the exchange of information, including those set by the OECD.

The nation’s wealth market is one of the world’s fastest-growing, with a 95% increase in millionaires over the past decade . This growth is supported by a stable and investment-friendly business environment.

Understanding the Mauritius Family Office Schemes

The Financial Services Commission (FSC) of Mauritius licenses and regulates Family Offices under the Financial Services Act 2007. This framework offers two distinct licence types to cater to different needs:

Feature	Family Office (Single) Licence	Family Office (Multiple) Licence
Structure	A private entity that exclusively manages the affairs of a single family.	A professional firm that manages the affairs of multiple families.
Benefits	Offers a high degree of privacy and direct control for the family¹². Provides bespoke services tailored to the family’s unique needs.	Leverages economies of scale to provide comprehensive services to multiple families¹⁴. Ensures transparency and accountability through regulation.
Minimum Capital	Must maintain a minimum stated unimpaired capital of at least USD 35,000.	Must maintain a minimum stated unimpaired capital of at least USD 70,000. The e-brochure shows this as USD 75,000, but the Rules document states USD 70,000. For clarity, we will assume the Rules are the definitive source.
Asset Value	Must have an aggregate value of assets and/or investments under management of at least USD 5 million.	Must have an aggregate value of assets and/or investments under management of at least USD 5 million.
Tax Benefits	Eligible for a tax holiday for a period of 10 income years .	Eligible for a tax holiday for a period of 10 income years .

Scope of Activities

A Family Office in Mauritius can perform a wide array of activities to manage your family’s wealth and legacy, including:

Administration and management of investments, assets, and estates.
Management of accounting and reporting.
Providing tax advisory and compliance services.
Advising on wealth planning and protection.
Establishing family governance, wealth strategies, and family charters.
Concierge, philanthropic, and disaster recovery services.

Compliance and Governance

To ensure a high standard of governance, a Mauritius Family Office must adhere to several key requirements:

Designated Officers: Each Family Office must appoint a designated officer who acts as the primary point of contact with the FSC.
Money Laundering Reporting Officer (MLRO): A designated MLRO and a deputy must be appointed to ensure compliance with anti-money laundering regulations.
Risk Management: A Family Office must develop and adopt an integrated risk management approach, which is to be reviewed annually.
Professional Indemnity: Both SFO and MFO licensees must have insurance to cover against professional duty breaches, fraudulent activities, and other specified risks.

Our Commitment to You

At Osidan Management Services, we provide comprehensive support for HNW and UHNW clients looking to establish a Family Office in Mauritius. Our team of experts is well-versed in the Financial Services (Family Office) Rules 2020 and its subsequent amendments. We offer:

Personalized advisory services to determine the most suitable Family Office structure for your family.
Assistance with the full licensing process, from application to approval.
Ongoing administration, compliance, and reporting services to ensure seamless operation.
Expert guidance to help you take full advantage of the tax benefits and robust regulatory framework Mauritius has to offer.

By partnering with Osidan, you can be confident that your family’s financial affairs are in capable hands, allowing you to secure your legacy for generations to come.

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