CIS Manager

A CIS Manager is equivalent to a fund manager. The activity of a CIS Manager is to engage solely in the management of collective investment schemes and closed-end funds. The CIS Manager licence also covers the activities that encapsulate the duties of a fund manager, such as the ability to market the fund, raise funds from investors, appoints advisory firms and IFAs.

  • Legal form:
    The CIS Manager shall be a company incorporated and having its place of effective management in Mauritius. A CIS Manager which is already incorporated and licensed in a jurisdiction with equivalent laws and regulations that those of Mauritius may seek the approval of the FSC to act as CIS Manager for a Mauritius CIS.
  • Segregation:
    A CIS Manager licence holder has to ensure that the assets of each scheme under its management are segregated and that it maintains at all times an adequately qualified personnel.

An officer resident in Mauritius and employed by a CIS Manager who manages a fund with an asset base of not less than USD100 million shall be entitled to a tax holiday for a period of 5 years.

  • Fund Administration:
    In the event the CIS Manager holds physical offices in Mauritius, it may provide all administrative services required by the CIS, however this is not possible if it cannot evidence that all necessary measures are taken to professionally a Mauritius CIS. In that case, the CIS Fund has to appoint [MC name] as its fund administrator.

Licence Criteria

  • Be constituted as a body corporate
  • Satisfies the Global Business Licence substance criteria
  • Satisfies the criteria relating to eligibility, fit and proper, duties and obligations, rules of ethics
  • The assets managed by the CIS Manager shall be held for safekeeping by a person dependent from the CIS Manager.
  • Should have a Professional Indemnity Cover
  • Satisfies the prudential and safeguarding measures
  • Maintain a minimum unimpaired stated capital of MUR 1 million (~USD 26k) or equivalent in a major currency

Why Mauritius?

80% Exemption

80% tax exemption on income derived from CIS Manager’s activities

1st in Africa

  • For Ease of Doing Business
  • In the MO Ibrahim Africa Governance Index


Not subject to capital gains tax and withholding taxes on distribution in Mauritius