Global Funds, African Focus: The Mauritius Collective Investment Scheme
The Collective Investment Scheme framework combines robust international regulatory standards with the flexibility needed to support investment into African and other emerging markets.
By DTOS Group
Over the past decade, Mauritius has established itself as one of Africa’s leading international financial centres, offering fund managers and institutional investors a stable, sophisticated, and tax-efficient platform for cross-border investment. At the centre of this ecosystem is the Collective Investment Scheme (CIS) framework, which combines robust international regulatory standards with the flexibility needed to support investment into African and other emerging markets.
Understanding the Mauritius CIS Framework
A CIS is a pooled investment vehicle through which capital from multiple investors is collectively managed according to a defined investment strategy. The Mauritian framework supports a wide range of fund structures, allowing fund managers to tailor vehicles to different investor profiles and asset classes.
These include:
Open-ended funds, which allow investors to subscribe and redeem shares on an ongoing basis;
Closed-end funds, typically used for private equity, venture capital, and infrastructure investments;
Professional Collective Investment Schemes (PCIS), designed for sophisticated and institutional investors, offering greater operational flexibility; and
Specialised funds, structured for niche strategies or specific sectors.
Fund vehicles can be established as companies, variable capital companies, trusts, or limited partnerships. This flexibility enables fund managers to structure investments in line with international market standards and investor expectations. As a result, Mauritius has become particularly attractive for private equity firms, infrastructure funds, venture capital managers, family offices, and ESG-focused investment platforms targeting African opportunities.
Why choose the Mauritius CIS Structure
For fund managers looking to raise and deploy capital across multiple African jurisdictions, the Mauritian CIS framework offers both operational flexibility and clear strategic advantages.
Mauritius is widely recognised as a preferred jurisdiction for structuring investments into Africa. This is due to its strong regulatory framework, political stability, and ease of doing business. The financial services sector adheres to internationally recognised standards and is regulated by the Financial Services Commission (FSC) under the Securities Act 2005. As a result, the Mauritian CIS framework offers investors a high level of regulatory credibility and confidence, while fostering strong relationships with international banks, custodians, and other institutional counterparties.
Mauritius also benefits from stable democratic governance, an independent judiciary, and a well-regulated banking sector, all supported by modern financial infrastructure. Its hybrid legal system combines elements of English common law and French civil law, offering investors and fund sponsors a familiar and reliable legal environment. In addition, investor protections are reinforced through transparent legislation, regulatory oversight, and custodial safeguards applicable to CIS assets. The jurisdiction is also known for its commercially responsive approach to licensing and fund approvals, enabling investment structures to be set up in a timely manner while maintaining strong compliance standards.
Another key advantage lies in Mauritius’ competitive and internationally recognised tax framework. The jurisdiction offers no capital gains tax, limited withholding tax exposure in many cases and free repatriation of profits and capital. It also benefits from an extensive network of more than 45 Double Taxation Avoidance Agreements (DTAAs) across Africa, Europe, and Asia. These features help reduce tax leakage, improve overall investment efficiency, and facilitate smoother capital flows. As a result, Mauritius continues to be a preferred platform for Africa-focused private equity, infrastructure, and impact investment funds.
Conclusion
The Mauritius CIS offers a compelling combination of tax efficiency, regulatory credibility, political stability, and flexible fund structuring capabilities. It continues to reinforce Mauritius’ position as a leading gateway for international investment into Africa, enabling global capital to access the continent’s opportunities through a trusted and internationally recognised financial platform.
How DTOS Ltd Can Support
DTOS support investors and businesses across the full lifecycle of fund structuring and administration funds in Mauritius. With deep expertise in cross-border investments into Africa, we assist you with the establishment, governance, accounting and ongoing maintenance of fund structures, ensuring full compliance while maintaining operational efficiency aligned with your strategy.
For any query, contact our Funds and Financial Institutions experts: Mrs Niralah Beeharry NBeeharry@dtos-mu.com and Mrs Joshita Ramtuhul-Sunasee JSunasee@dtos-mu.com