The Limited Partnership Act 2011 provides an ideal framework for structuring funds in Mauritius.
The LP shall pool monies from investors in exchange of partnership interests as Limited Partners and shall be managed by its General Partner, which can be an entity incorporated in Mauritius as a CIS Manager.
The key features of a fund structured as a LP are –
- It gives the owners the suppleness of operating as a partnership while having a separate legal entity.
- The LP Act provides flexibility in how the LP agreement can be drafted
- Fund raising, allocations and distributions can be tailor-made to requirements of the promoters
- A Mauritius LP can elect to have a legal status
- If solvent, the LP can be would up voluntarily by its General Partner.