Fiduciary Services: Trusts
As part of our fiduciary services, we deal with Trusts. A Trust is a fiduciary relationship whereby the Settlor gives the Trustee the right to ownership of assets for the benefit of Beneficiaries. Trusts established under the Mauritian Laws are governed by the Trusts Act 2001 of the Republic of Mauritius.
Under the Mauritian Laws, there is a statutory requirement to appoint a Qualified Trustee, licensed by the Financial Services Commission. A Management Company such as Dale Trust, is a licensed Qualified Trustee, enabling it to offer Fiduciary Services.
The advantages of using a Trust are numerous and include privacy, asset protection and estate planning.
A foundation is, in many ways, similar to a Trust but may enjoy legal personality and offers the administrative flexibility of a company. It can be set up by charter or by will and its objects can be non-charitable, charitable, or both. Mauritius Foundations are governed by the Foundations Act 2012 of the Republic of Mauritius.
Foundations are widely used for wealth management, estate planning, asset protection, amongst others and one of its main advantages is confidentiality.