News & Insights

What is a Protected Cell Company (PCC)?

​​

A Protected Cell Company (PCC) is a single legal entity that can be divided into separate cells, each with its own assets and liabilities.

 

The key advantage is that the assets and obligations of one cell are legally ring-fenced from those of any other cell and from the company’s core assets.

​

Purpose and Use

​​

PCCs in Mauritius are governed by the Protected Cell Companies Act 1999 and are widely used for:

​

• Asset holding and structured finance​​

• Collective investment schemes and closed-ended funds

• Insurance and reinsurance business

• External pension or retirement schemes

​

By combining multiple activities under one legal structure, a PCC offers cost efficiency, simplified administration, and enhanced segregation of risk between cells.

​​​

Formation and Licensing

​​

A PCC may be:

​

• Newly incorporated under Mauritian law, or

​

• Registered by continuation from another jurisdiction, provided the requirements of the Companies Act 2001 and the PCC Act 1999 are met.

​

All PCC applications must be submitted to the Financial Services Commission (FSC) through a licensed Management Company such as Intrasia Management.

​

Additional Requirements

​

• Insurance-related PCCs: Applications must include a detailed business plan, a policyholder profile for each cell, and relevant corporate documents. Any new cells created later must be reported to the FSC with updated business details.

​

• Investment Funds:

  • Promoters must provide an outline memorandum including:

    • The promoter’s identity and track record

    • Fund objectives, size, and proposed investments

    • Minimum subscription requirements

    • Structure and functionaries of the fund

    • Evidence of compliance with other regulatory bodies