A Trust is a highly effective way of organising personal and business affairs. For private clients, the benefits of establishing a trust mainly relate to effective estate and inheritance planning, asset preservation, wealth management, investment planning and avoidance of forced heirship rules.
Trusts are, in principle, a very simple concept. A trust is a private legal arrangement where the ownership of assets (which might include property, shares or cash) is transferred to second party (the Trustee) to manage for the benefit of a third party.
Types of Trusts
Although the most common form of Trust set up in Mauritius is the Discretionary Trust, the legal framework for Trusts and Trust Services contained in the Mauritius Trust Act 2001 allows for various other types of Trusts to be set up. These include Charitable Trusts, Purpose Trusts and Trading Trusts.