MAURITIUS Law and Practice Contributed by: Fazil Hossenkhan, Nafiisah Jeehoo, Kelly Li and Alicia Kwan Pang, Bowmans
Bowmans 3rd Floor The Dot Avenue De Telfair Moka 80829 Mauritius Tel: +230 460 59 59 Email: info-ma@bowmanslaw.com Web: www.bowmanslaw.com
1. General 1.1 General Overview of Jurisdiction
ket for Eastern and Southern Africa (COMESA), and the Indian Ocean Rim Association (IORA). 1.2 Key Trends Since its introduction, the variable capital company (VCC) structure has gained popularity among inves - tors for its flexibility, cost efficiency and operational benefits in structuring strategies for alternative funds, including collective investment schemes and closed- end funds. Its ability to accommodate separate inves - tors in different sub-funds has also contributed to its appeal and to date, around 58 funds have been struc - tured as VCCs with authorisation from the FSC, with many more expected to be structured this way in the future. Also, the FSC has recently issued new Disclosure and Reporting Guidelines for ESG Funds, effective from 24 March 2025. The guidelines apply to collec - tive investment schemes and closed-end funds which use or include ESG factors as their key investment focus and strategy. Key obligations include detailed disclosures in offering documents, annual sustainabil - ity reporting, website transparency, and independent third-party or self-certification of ESG strategies and outcomes. These measures aim to combat green - washing, enhance investor protection, and position Mauritius as a credible hub for sustainable finance.
In the past two decades, Mauritius has gained wide recognition, from both fund managers and investors, as a leading jurisdiction for setting up and adminis - tering global investment funds. In its annual report 2023–2024, the Financial Services Commission (FSC) recorded approximately 1,014 investment funds (including both open-end and closed-end funds) and 455 collective investment schemes (CIS) managers as at 30 June 2024. According to the monthly global business data sheet published by the FSC, there were 935 active global funds as at the end of January 2025. Mauritius has proved itself as a jurisdiction of sub - stance for sizeable inward and outward investments from Asia to Africa, and it adopts international norms and best practices and promotes a business-friendly environment. The island boasts a modern and innova - tive legal system and regulatory framework, state-of- the-art infrastructure and a wide range of international banks and professional firms. Furthermore, Mauritius is a politically stable jurisdiction with a legal system inspired by English common law and French civil law, with a final right of judicial recourse to the Judicial Committee of the Privy Council of the United King - dom. By virtue of its geographical and cultural proximity to countries in Africa and Asia, Mauritius has positioned itself as a favourable platform for setting up hold - ing entities in African and Asian emerging markets. Mauritius is also a member of the Southern African Development Community (SADC), the Common Mar -
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