Trusts in Mauritius are governed by the Trusts Act, 2001.
A asset protection trust can only be created by an instrument in writing which should state its Object, subject, intention and Duties and powers of the trustees.
- It can be formed by a resident or non-resident of Mauritius.
- There is no register of Trusts in Mauritius nor is there any disclosure of beneficial owner to any authority.
- Trust created by written documents will generally take two forms:
This form of document will be entered into and signed by both the settler and the trustee and so provide clear evidence of the intentions of both parties and of the agreed obligations assumed by the trustee.
- Declaration of Trust:
This form of document is entered into and executed by the trustee only, and records that the trustee has received certain property, specified in the document, to hold upon the terms set out in the document.
It is sometimes more convenient to create a asset protection trust by declaration of trust rather than by settlement, for example, the settler may not be available to sign the document, when it is prepared.
How is a asset protection trust created? was last modified: May 17th, 2021 by