Preparation of the Mauritius Variable Capital Companies Bill
The introduction of the Variable Capital Companies in Mauritius was one of the measures announced in the last year Budget Speech 2020-2021 of the Mauritian Government. On the 16th of April 2021, the Cabinet has approved the concept of Variable Capital Companies as new type of investment vehicle within our financial services environment. This new product will enhance the competitiveness of Mauritius Financial Services Sector at international level and diversify the Mauritius Financial products.
The Variable Capital Companies (VCC) is known for its flexibility and can be used like a traditional funds structures as well as in creative and innovative way. It is a combination of legal entity and a fund structure which may be used for all types of investments funds, including mutual funds, hedge funds, private funds, private equity and real estate funds.
The Variable Capital Companies Bill will hence be circulated to the respective stakeholders in due course. A technical team has been constituted to ensure that the proposed VCC Bill complies with the Anti Money Laundering/Combatting the Financing of Terrorism requirements.
We shall be keep you posted on the progress and we shall conduct a webinar on the subject once the Variable Capital Companies Act is enacted.