Dale International Trust Company Limited

October 2023

Foundations: Benefits of establishing a Foundation in the Seychelles.

Foundations in Seychelles are governed under the Foundation Act 2009. A Foundation is often referred to as a Hybrid structure. It has the mixed characteristics of a Company and a Trust. A Foundation is a legal entity like a company whereas a Trust is not a legal entity but a legal arrangement. However, a Foundation has beneficiaries like a Trust, but the assets of the Foundation are not the assets of the Founder nor the beneficiaries until it is distributed to them.

As Foundation’ assets are not the property of the Founder, this makes a foundation a highly useful structure for tax planning, asset protection and “outside estate” succession planning.

A Foundation in Seychelles can be established with an initial asset, which shall be not less than USD 1 or its equivalent.

Seychelles Foundation Act makes provision for Anti-forced heirship. Foreign rule of forced heirship cannot make a Foundation void. Similarly, no creditor of the Founder can make a Foundation void; unless it is proven that the Founder was bankrupt, insolvent or intended to defraud a creditor, at the time when the founder transferred the asset to the foundation. The creditor will have 2 years from the date of the establishment of the Foundation to take any action or claim against a Foundation. After 2 years, the claim shall be statute barred.

The Foundation is tax resident in Seychelles and pays tax in Seychelles only on the profit, which was sourced in Seychelles.

The Council member may not be resident in the Seychelles. However, the Foundation established in the Seychelles shall always have a Registered Agent in the Seychelles, which is duly authorised by the authority to act as Agent for Foundation. Our sister Company RV & BEP Services Ltd is licenced as a Foundation agent in the Seychelles.

Please contact us at mauritius@dale-trust.com should you wish to receive more information about a Seychelles Foundation.

Global Peace Index: Mauritius ranked 23rd

The 17th edition of the Global Peace Index (GPI), which ranks 163 independent states and territories according to their level of peacefulness, has recently been published. Produced by the Institute for Economics and Peace (IEP), the GPI is the world’s leading measure of global peacefulness. This report presents the most comprehensive data-driven analysis to-date on trends in peace, its economic value, and, how to develop peaceful societies. The GPI covers 163 countries comprising 99.7 per cent of the world’s population, using 23 qualitative and quantitative indicators from highly respected sources, and measures the state of peace across three domains: the level of societal Safety and Security; the extent of Ongoing Domestic and International Conflict; and the degree of Militarization. It has been noted that the most peaceful country in the region is Mauritius, which is ranked 23rd in the 2023 GPI. This is the reason why many of our clients opt to immigrate to Mauritius with their family due to Mauritius being a very safe and peaceful country.

Contact our team today at mauritius@dale-trust.com to learn more on the best options available to you to reside in Mauritius.

Trademarks

A trademark, included on the business registration card of a company, is the name or designation used for identification of the company. The registration of trademarks in Mauritius is governed by the Patents, Industrial Designs, and Trademark Act 2002.

A trademark is essential if you want your company, products, and services to be notable and distinguish your business from those of your competitors. Furthermore, the owner of the trademark is granted exclusive rights to the trademark, which provides them with the ability to prosecute for unlawful use. Proper trademark registration ensures that other business from using trademarks that are similar or identical to yours in relation to goods and services like yours.

The registration done in Mauritius shall be valid initially for ten years and subsequently for a period of ten years upon payment of the renewal fee and pursuant to any other requirements as provided under the law.

If you would like more information on how Trademark Registration can assist in protecting your business, drop our team an email at mauritius@dale-trust.com.

Seychelles News:

Mr. Rajsing Gopaul, our Managing Director, had the pleasure of attending an event hosted by the Financial Services Authority in Seychelles. It was an excellent opportunity to network with other stakeholders in the industry.

Dale International Trust Company Limited
3rd Floor, Tower A, 1 Exchange Square, Ebene, Mauritius
Phone: +230 4641300   |   Fax: +230 4670155
Website: www.dale-trust.com   |   Email: mauritius@dale-trust.com

Dale International Trust Company Limited is a member of the MSI Global Alliance and Mauritius Finance

The information in this newsletter was prepared by Dale International Trust Company Limited to provide to clients with a broad overview. We accept no responsibility for any errors it may contain, whether caused by negligence or otherwise, or for any loss, howsoever caused, sustained by any person relying on this newsletter. It is advised that appropriate professional advice is sought before taking any action. Sources include FSC Website, FSC Newsletter, Government of Mauritius website, The Republic of Seychelles website, Mauritius Revenue Authority website.