SET UP A MAURITIUS TRUST TO PROTECT YOUR ASSETS

Brenthurst aquires major interest in Mauritian Trust Company

The three senior partners at Brent Consulta are Samina Jagoo Jaffer (Managing Director), Avi Kooyela (Chief Operating Officer) as well as Kjell Ekstrom, a specialist in fund structures, who will head up the Black River office.

They will be assisted by Gavin and Yolande Butchart, who have been spear-heading Brenthurst’s operations in Mauritius for more than four years, which includes its property marketing company, relocation services as well as Brent Wealth, its licensed wealth manager on the island.

Chairman of the new company will be Magnus Heystek, investment strategist and director at Brenthurst Wealth.

All the senior directors from Brent Consulta will be in South Africa from the 8th to 11th February and will be available at Brenthurst Wealth’s Sandton office to meet with existing and new clients.

MAJOR GROWTH AREA

Mauritius has become a major destination for South Africans either relocating and retiring or wanting to set up global company and trust structures for new business ventures or for housing existing global assets.

Post-Covid, the small island state has shown exceptional growth with property values increasing by between 20 and 40%, as pent-up demand from global buyers rapidly snapped up most property stock in the areas popular amongst South Africans, which include Black River, Tamarin and Grand Baie.

Many South African buyers have purchased properties in their personal capacity, which could cause problems in the case of death and resultant spousal inheritance.

Samina Jaffery stated, “A trust is a particularly good legal vehicle (as opposed to personal name) to house fixed assets, such as a house, as the property inheritance laws are based on the Napoleonic code which prescribes how property devolves in the case of death.”

Venture capitalists setting up new companies are also urged to set up structures to house these assets, typical an operating company owned by the trust.