Protected Cell Company in Mauritius

The Protected Cell Company (PCC) is a special legal structure made up of cellular and non-cellular assets. It provides legal segregation of assets attributable to each cell of the company whether owned by individuals or body corporate.

A PCC in the Mauritius International Financial Centre (IFC) is made up of a core and various classes of cells which may invest collectively in one or more portfolios or separately in distinct portfolios. A PCC protects one cell from contagion from others hence providing more opportunities, flexibility, and security for international investment structuring.

The law allows PCC to be created for asset holding, structured finance business, collective investment schemes and close-end funds, specialised collective investment schemes, insurance and captive insurance business.

It is noteworthy that a company established in a jurisdiction other than Mauritius may be registered by way of continuation as a PCC.
 

Management of a Protected Cell Company

A PCC is managed by its directors. However, the management may be transferred or shared through a management contract with an investment manager when the PCC is licenced as an investment fund.
 

Capital Requirement

There is no minimum capital requirement for a PCC and for each cell within the PCC. However, on a case-to-case basis and depending on the nature of the business, the Financial Services Commission (FSC) may prescribe certain capital requirements. In the case of insurance or re-insurance business, each cell must abide by the relevant insurance legislation regarding the requirement of minimum paid up capital.
 

Application Form and Cost Implications

The application form and the processing and annual fees for a PCC can be viewed from the following: Codified List - Financial Services Commission - Mauritius (fscmauritius.org)
 

Regulatory Framework

• The Protected Cell Companies Act 1999