Registering a Foundation
Foundations
Foundations are governed by the Foundations Act 2012.
Foundation can be established for such purposes as:
charitable;
non-charitable;
both charitable and non-charitable foundations; or
By Will
The Steps to Register a Foundation
The name should be available (In accordance with Section 20 of the Act):
- Name should not be identical to existing names
- Name should end with the word “Foundation” or “Fondation”
- To fill downloadable form – (Application Form for the Registration of Foundation) (In accordance with Section 23 of the Act) and submit application for registration of Foundation together with:
- written consent of council member,
- written consent of secretary,
- The secretary can be a management company or a person resident in Mauritius approved by the Financial Service Commission (as per Section 13 of the Act).
- Legal Certificate,
- Declaration made by applicant that the information provided in the application is true and correct,
- list of names & addresses of first officers (if any),
- letter stating whether Foundation has beneficial owner,
- BRF 3 – Application for Business Registration Card (Optional)
- Fees payable at the time of registration is Rs 9000 + Rs 100 (Certificate)
Documents required for amendment to the Charter
- Resolution of council member with regards to amendment of charter
- Legal Certificate
- Amended Charter
- Payment of prescribed fees of Rs 1000
Changes in Foundation
Any change in the Foundation such as for Secretary, Council Member, Beneficial Owner should be notified to the Registrar of Foundation
Winding up of a Foundation
A Foundation shall be wound up voluntarily (as per Sec 42 of the Act)–
- on the occurrence of an event specified in its charter;
- on the expiry of the period for which it was established;
- on a unanimous resolution of its Council to that effect; or
- where the Foundation is unable to pay its debts.
Documents required for voluntary winding up
A Foundation shall not be wound up unless a notice of liquidation signed by a member of the Council is delivered to the Registrar and published in 2 daily newspapers and the Gazette.
Change of name of a Foundation
In accordance with Section 21 of the Act:
- An application to change the name of a Foundation shall be in the APPROVED FORM “Application to Change Name of a Foundation (SEC 21 (1)(a)”
- subject to its charter or Articles, if any, be made by passing a resolution of the Council to that effect and filing a copy of the resolution with the Registrar.
- A Payment of Rs 100 required
Fees Payable
| Fees Payable | ||
| Extract of File | Rs 100 | |
| Certificate of Current Standing | Rs 100 | |
| Certified Copies | Rs 20/page (Rs 100 certified) | |
| Search | Rs 100 (Not available to the General Public) | |
| Annual Registration Fees For: | ||
| Type of Foundations | Within Due Date | After Due Date |
| Charitable Foundations | Rs 9000 | Rs 13 000 |
| Foundations other than Charitable Foundations | Rs 18 000 | Rs 26 000 |