Trust
The world is not so fair and predictable. An individual will always want to protect what he already has.
Trustee Services
Fairfield Trustees Ltd is licensed by the Financial Services Commission to provide corporate trustee services. It is staffed by experienced, trusted and committed professionals. The directors and managers are Fellows of the Association of Chartered Certified Accountants (ACCA) and members of Society of Trust and Estate Practitioners (STEP). They qualified and trained in London and their post qualification experiences to date cover tax consulting and trust business.
We offer advice in creating trust for:
This is where assets are transferred to trustees for them to undertake investment according to a particular investment strategy.
A Mauritian trust can be an efficient vehicle in the international planning of income and capital taxes be it during the settlor’s lifetime or at his death. In lieu of a Will, where inheritance or death taxes would become payable, the use of a Mauritian trust will reduce/mitigate such taxes.
Trusts are not taxable in Mauritius if they are declared to be non-resident for tax purposes. Distributions received by non-resident beneficiaries are also exempt from tax. Please contact us for more details.
against:
(1) expropriation without due process;
(2) financial collapse; and,
(3) frivolous litigations.
The use of an Asset Protection Trust can be useful in providing for the financial security of the settlor and the beneficiaries named in the Trust Instrument. However, such a trust may not withstand claims from honest creditors who have been defrauded as a result of the creation of the trust or transferring of assets into the trust. No court in Mauritius will entertain a claim for the setting aside of a trust after more than 2 years of a transfer or disposal of assets to the trust.
An individual (the settlor) may want to provide for the future security of his wife, family and loved ones. The trust replaces the use of a 'Will' which takes effect only on the death of the testator. Moreover, no forced heirship rules and laws of succession are applicable to a trust having the Trusts Act 2001(the Mauritian law) as the governing law.
The Trust Act 2001 also allows for the Declaration of trust where the names of settlors are not included in the Trust Instrument for reasons of confidentiality. Settlors can either vest the title of the assets to the trustees directly or transfer all the assets in a company, the shares of which are issued to the trustees.