Fund Services

Intercontinental Trust Limited :Services :Fund Services

Fund Services

ITL has unparalleled experience in setting up, launching and administering funds structured in Mauritius, both open-ended and closed-ended.

We offer a full range of private equity fund administration services, hedge fund administration services, investor services and fund accounting services to Mauritius offshore funds.
Our services are tailored based on your fund’s requirements and our fund administration team is committed towards providing you with a first-class service, responding to your requests in a timely manner and advising you on your queries.

Our Services Include:

  • Structuring Advice, Fund setup & Licensing
  • Fund Administration
  • Provision of Officers (Directors, MLRO, DMLRO, CO, DPO, etc.)
  • Fund Accounting and Reporting
  • Cash Management Services
  • Compliance and Regulatory services including AML/CFT, FATCA/ CRS, Data Protection etc.
  • Risk Management
  • Investor Relations and ESG Services
  • Banking Solutions
  • Tax Compliance and Advisory services

Compliance / AML Services

In line with the Code on the Prevention of Money Laundering & Terrorist Financing, we are mandated to perform a full Customer Due Diligence (CDD) check on all our clients prior to on-boarding. Moreover, ITL constantly reviews and enhances its processes and procedures in order to mitigate any AML/CFT and other related risks which may jeopardise its clients’ businesses. Also, as part of ITL’s internal procedures, all staff are provided with AML/CFT training at least once a year and an assessment is carried out at the end of each training to ensure that the staff are conversant with the local AML/CFT laws.

We can further assist our clients in fulfilling their AML/CFT requirements as follows:

  • Advise our clients of KYC / AML / CFT requirements in accordance with the laws of Mauritius
  • Preparation of a compliance report on a yearly basis or upon request to report on the clients' compliance with the conditions attached to their licence and the local regulatory framework
  • Perform full CDD check on clients' target investments where inter-alia, we will undertake screening of ultimate beneficial owners, initial sanctions and block list screening and perform enhanced KYC whenever required
  • Perform full CDD check on new investors joining client structures

FATCA

FATCA is a US domestic statute enacted in 2010 with the purpose of enforcing US tax compliance for foreign accounts and cross-border transactions. Since its coming into force on 1 July 2014, FATCA has had a gigantic global impact and caused repercussions in the financial sector worldwide.
In an effort to promote transparency and to improve tax compliance, Mauritius and the United States signed a Model 1, Reciprocal and Inter-Governmental Agreement (IGA) and a Tax Information Exchange Agreement on 27 December 2013.
Our FATCA team (the “Team”) has requisite experience and know-how to provide advice and administrative solutions to clients on all aspects of the Automatic Exchange of Financial Account Information (“AEOI”) due diligence and reporting regimes under the FATCA with respect to Mauritian and Seychelles financial institutions.
Our understanding of the application and evolution of FATCA is unparalleled, as the Team has worked closely with Mauritian and Seychelles authorities in relation to the development of the regimes within these jurisdictions.

We provide constructive and insightful advice to a range of clients, including investment managers, investment advisors, brokers, funds and trusts, offering flexible and cost effective solutions that can be tailored to ensure clients meet the necessary requirements.

Our Services Include:

  • Providing entities, incorporated in Mauritius and Seychelles, advice and assistance in relation to the potential application of FATCA
  • Entity classification for FATCA purposes
  • Registration with the IRS and obtaining a Global Intermediary Identification Number (GIIN), where applicable
  • Due diligence pertaining to FATCA
  • Onboarding new accounts to ensure that the required data is captured, obtaining forms and due diligence documentation for validation up front to facilitate compliance
  • Reporting to Competent Authority for FATCA purposes
  • Preparation and filing of reports that are compliant with applicable legal requirements
  • Registration with Competent Authority for reporting purposes, including application for TAN for FATCA purposes or Dummy TAN where applicable
  • FATCA periodic reviews

Common Reporting Standard

CRS

The OECD, working in collaboration with G20 and in close co-operation with the EU, has developed a global standard for automatic exchange of financial account information, also known as the Standard for Automatic Exchange of Financial Account Information (“Standard”) or the Common Reporting Standard (“CRS”)

The aim of CRS is not only to improve international tax compliance but also to avoid a proliferation of different standards which would increase costs for both governments and financial institutions.
Our CRS team (the “Team”) has requisite experience and know-how to provide advice and administrative solutions to clients on all aspects of the Automatic Exchange of Financial Account Information (“AEOI”) due diligence and reporting regimes under the OECD Standard for Automatic Exchange of Financial Account Information – Common Reporting Standard (“CRS”) with respect to Mauritian and Seychelles financial institutions.
Our understanding of the application and evolution of CRS is unparalleled, as the Team has worked closely with Mauritian and Seychelles authorities in relation to the development of the regimes within these jurisdictions.

We provide constructive and insightful advice to a range of clients, including investment managers, investment advisors, brokers, funds and trusts, offering flexible and cost effective solutions that can be tailored to ensure clients meet the necessary requirements.

Our Services Include:

  • Entity classification for CRS purposes
  • Due diligence pertaining to CRS
  • Reporting to Competent Authority for CRS purposes
  • CRS periodic reviews
  • Classification, validation and remediation of pre-existing accounts, where applicable
  • Preparation and filing of reports that are compliant with applicable legal requirements
  • Providing entities, incorporated in Mauritius and Seychelles, advice and assistance in relation to the potential application of CRS
  • Registration with Competent Authority for reporting purposes, including application for TAN for CRS purposes or Dummy TAN where applicable
  • Onboarding new accounts to ensure that the required data is captured, obtaining forms and due diligence documentation for validation up front to facilitate compliance
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