International Trust Corporations
Persons desiring to carry on international trust business in Republic of Mauritius shall apply to the The Free Zone of Mauritius for the granting of a licence under any of the following categories:
Class I General International Trust Licence;
Class II Restricted International Trust Licence.
A general international trust licence permits carrying on of international trust business without restrictions. A licensed institution holding a Class I General International Trust Licence shall maintain a minimum capital as may be determined by the The Free Zone of Mauritius from time to time, but not being less than two hundred and fifty thousand United States dollars in paid up capital.
A Class II Restricted International Trust Licence the licensed institution to carry on international trust business for a restricted list of customers, approved by the The Free Zone of Mauritius from time to time, or specified in the list issued as part of the terms upon which the licence is granted.
A trust corporation is subject to examination to ascertain, among other things, compliance with the relevant laws, regulations and international standards; observance of Know Your Customer (KYC) standards; and maintenance of details of transactions. Examiners may also investigate procedures for reporting and filing suspicious transactions with the appropriate supervisory authority under the Money Laundering Act ; the Prevention of Terrorism Act and the Money Laundering Regulations.