Basically, a Family Office provides the necessary skill, guidance and management of a family’s wealth to build a structure which can help protect that inheritance and pass it smoothly across generations. There are many reasons to set up a family office but the core one is the wish to facilitate the inter-generation transfer of wealth and reduce intra-family disputes.
Why set up a family office?
- For proper management and governance structures
Family Office structure ensure the dealing of the complexities of a family’s wealth transparently as well as aligning of family interests to help avoiding future conflicts.
- Centralisation of businesses services
The Family Office structure will consolidate the management of the family’s investments and operations.
- Centralisation of information and other services
All reporting is centralized through the Family Office, which becomes the main access point for the family’s global operations and for each member.
- Centralisation of overall risk management
The Family Office will oversee the global operations and allow for operational review and consolidation of risk.
- Professional management of the families’ wealth
Family businesses looking for proper structuration and professionals external to the family business to handle the family affairs and wealth.
At MITCO, we understand the importance and needs of family businesses to be fully supported and guided by a dedicated and professional team. Our team is composed of experts with international tax, regulatory, asset protection / succession planning knowledge who can successfully implement projects.
Our areas of expertise
- Investment Consulting and Advisory Services
- Compliance and regulatory assistance
- Risk Management Services
- Governance & Financial Planning
- Administration services
- Succession planning
- Reporting and record keeping
-Accounting and tax compliance services
- Philanthropic management
- Management and administration of day to day affairs
- Life Management and Budgeting
- Monitoring of acquisition of real estate property, boat/ yachts, cars
- Application of all relevant permits including residence permits
- Human Resources and Payroll services
HOW MITCO CAN HELP?
- Assistance with company set up and with the application of Family Office licence from the Financial Services Commission (FSC)
- Assistance with the recruitment process and payroll of professionals
- Assistance with the different functions required within the Family Office
- Assistance with finding the right partners for the Family Office
- Assistance in search of investments and financing
We invite you to contact our Business Development Team on firstname.lastname@example.org or your relationship manager at MITCO for any further information that you may require on Mauritius Family Office Services and other services available within MITCO Group.