Africa-focused fund managers can save up to 31% by choosing this leading jurisdiction
The key attributes of Africa’s leading jurisdiction for investment funds
Africa’s leading International Financial Centre puts forward many key attributes that attract interest from investors and corporates, including fund managers, all around the world. These include:
- Most business-friendly and investment-friendly country in Africa (World Banks’s 2020 Doing Business Report);
- A diversified and stable economy;
- Hybrid legal system, combining the advantages of English Common and French Civil laws;
- A Rule of law and political stability;
- No exchange control, no Withholding Tax, No Capital Gains Tax;
- Secure and reliable investment destination (risk-mitigating platform);
- Cost-effective solutions: very affordable outsourcing destination;
- A pool of bilingual (English and French) and skilled workforce;
- Extensive network of bilateral agreements (DTAAs and IPPAs);
- Strategic geographical location between Africa and Asia and convenient time zone (GMT+4);
- Member of the SADC, COMESA, African Union, IORA; and
- An innovative listing and capital-raising platform.
How using this jurisdiction adds value to fund managers
The core objective of a fund manager (also referred to as ‘General Partners’) is to achieve the highest possible shareholder return on investment whilst satisfying investor reporting requirements and stringent regulatory requirements. The main challenges they face when setting up a Fund are choosing the most appropriate jurisdiction and selecting a cost effective vehicle, both of which are critical to optimising their operating costs and maximising return on investment.
Headquartered in Mauritius, Sunibel has helped clients who have faced and are facing similar situations as fund managers, and understands these challenges. Furthermore, being present in multiple countries allows us to quickly and efficiently analyse the advantages and disadvantages of settling for a jurisdiction. We look at ourselves as partners to a project rather than just being a service provider.
Our multidisciplinary team provides professional fund administration services. They are guided and driven by Kristoffer Huldt, a seasoned professional with over 15 years’ experience in the fund industry obtained at international level and who acts as director for funds in multiple jurisdictions, both in the EU and other jurisdictions.
Sunibel is driven by a best-fit approach. We help fund managers mitigate the operational risk through our specialised fund accounting, transfer agency and compliance teams’ expertise. Our advanced technology helps fund managers meet investors’ expectations for independent and timely reporting. As fund managers continue to face margin pressures, outsourcing their fund administration to Mauritius, with Sunibel, is an attractive alternative.
A well-regulated and compliant jurisdiction, well-known among fund managers
The OECD recently indicated Mauritius does not have any harmful practices in its tax regimes, fulfilling all the requirements of the BEPS Action 5. In addition, it was found being fully compliant with EU tax good governance principles and was removed from the list of jurisdiction considered to be acting as tax havens by the Council of the European Union.
The jurisdiction is fully compliant with FATCA and CRS. Furthermore, being compliant with the Financial Action Task Force Recommendations, Mauritius has in place high AML/CFT framework. By setting up their Funds in this jurisdiction, fund managers can ensure they tick the box in terms of compliance and regulatory requirements.
To know how we can help you, fund managers, in addressing your challenges and maximising return on investments for investors, do not hesitate to get in touch.
Head of Fund Administration+230 263 29 29
|Nikhel Chung Sam Wan
Head of Business Development+230 58 28 56 37