By Rehma Imrith, Managing Director, Mauritius
As the global wealth landscape continues to evolve, the rise in high-net-worth individuals (HNWIs) and ultra-HNWIs is reshaping how and where wealth is managed. According to the Knight Frank Wealth Report 2025, North America and Asia remain dominant wealth hubs, with India alone witnessing a 6% growth in its HNWI population in 2024. This surge is not just about numbers, it’s about sophistication, strategy and security.
Today’s wealthy families are more discerning than ever. They’re diversifying across asset classes, jurisdictions and generations. This shift is driven by a confluence of factors: geopolitical volatility, increasing regulatory scrutiny and growing emphasis on long-term financial resilience. In this context, the choice of jurisdiction for wealth structuring and family office set-up has become a strategic decision. Mauritius is quietly but confidently stepping into this space.
A trusted gateway to India and beyond
Mauritius has long been a preferred platform for foreign direct investment into India. Its robust legal framework, investor friendly tax regime and deep-rooted bilateral ties have made it a go-to domicile for U.S. and European fund managers targeting India and broader Asia. This legacy positions Mauritius as a natural extension for global families with interests in the region.
While African HNWIs are already familiar with Mauritius as a wealth management hub, there remains untapped potential among wealth managers and family offices in the UK, Europe and the United States. For these global players, Mauritius offers a compelling proposition, one that blends regulatory sophistication with regional connectivity.
The African wealth boom: a strategic opportunity
Closer to home, Africa is emerging as a powerhouse of wealth creation. The Knight Frank Wealth Report highlights the continent’s youthful demographics, abundant natural resources and improving infrastructure as key drivers of this growth. The 2024 Africa Wealth Report by Henley & Partners projects a staggering 65% increase in African millionaires by 2033. Today, Africa is home to over 135,000 HNWIs, 342 centimillionaires and 21 billionaires.
Mauritius is uniquely positioned to capture this momentum. Its proximity to the continent, coupled with a mature financial services ecosystem, makes it an ideal jurisdiction for African families seeking stability, confidentiality and global access. The island offers a wide array of private wealth products, from trusts and foundations to investment funds, all underpinned by strong governance and compliance standards.
Why Mauritius makes sense for family offices
For global families exploring new jurisdictions for their family offices, Mauritius offers several advantages:
- Strategic location: Situated at the crossroads of Africa and Asia, Mauritius provides seamless access to both emerging and established markets
- Regulatory excellence: The jurisdiction boasts a well-regulated financial services sector, aligned with international best practices
- Tax efficiency: Mauritius offers a competitive tax regime, with access to a wide network of double taxation avoidance agreements (DTAAs)
- Political and economic stability: A stable democracy with a strong rule of law, Mauritius provides the predictability that long-term wealth planning demands
- Lifestyle and connectivity: With world-class infrastructure, international schools and a high quality of life, Mauritius is increasingly attractive for families considering relocation or partial residence.
Looking ahead: A regional hub in the making
Traditionally, global families have gravitated towards jurisdictions like Singapore, Jersey and Switzerland for their wealth planning needs. These centres offer deep expertise and global recognition. However, as the wealth map shifts, so too must the strategies of those who manage it.
Mauritius has the opportunity to position itself not just as an alternative, but as a complementary hub – particularly for families with ties to Africa and India. In addition to its strengths in wealth structuring, Mauritius is also emerging as a sophisticated fund administration and asset management jurisdiction. A growing number of family offices are evolving into strategic investors, actively deploying capital into private equity, venture capital and alternative funds. Mauritius offers the right regulatory framework, fund structuring flexibility and regional access that align with this trend.
By building on its historical strengths and investing in its financial services ecosystem, Mauritius can become a jurisdiction of choice for the next generation of global wealth. For investors and advisors alike, the message is clear: Mauritius is no longer just a gateway, it’s becoming a destination.
Ready to diversify beyond traditional wealth hubs? Contact our team today to discuss your family office and wealth structuring opportunities.
