Subject: ITL Newsletter - The introduction of the Variable Capital Companies Act 2022

The introduction of the Variable Capital Companies Act 2022

The enactment of the Variable Capital Companies Act 2022 (the "Act") in April 2022 marks yet another milestone for Mauritius as it cements its position as the International Financial Centre of choice for the region.


First announced in April 2021, it will be recalled that the introduction of the Variable Capital Company (VCC) was one of the action points that emanated from the National Budget 2020/2021 in line with the 10-year Blueprint that was established for the Mauritius IFC. The VCC will aim to deliver on the increasing demands for innovation in the fund market space, and will indubitably be of interest to international investors looking at a cost effective and flexible structure.


The Act has also ensured that the legislative framework regulating the VCC complies with the requirements of the Anti-Money Laundering/Combatting the Financing of Terrorism.

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DISCLAIMER

The information in this e-newsletter was prepared by Intercontinental Trust Limited to provide potential clients with a broad overview of the opportunities available in Mauritius. While all reasonable care has been taken in the preparation of this e-newsletter, Intercontinental Trust Limited accepts no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, however caused, sustained by any person that relies on it. Readers are advised to consult with appropriate, qualified professional advisors before taking action. Intercontinental Trust Limited will be pleased to discuss any specific issues.

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