Global Business & Taxation

Protected Cell Companies


The Protected Cell Company (“PCC”) is a special legal entity made up of cellular and non-cellular assets and Mauritius is one of the few jurisdictions offering this form of company. It provides legal segregation and protection of cellular assets attributable to each cell of the company whether owned by individuals or body corporates. PCCs are governed by the Protected Cell Companies Act 1999 and provide security and flexibility to operate with segregated assets.

The PCC offers a wide range of applications such as asset holding, structured finance businesses, collective investment schemes and close-ended funds. It is attractive to Global Business funds with each cell offering specific types of investment products. A PCC may also be used for life insurance, insurance & re-insurance and composite insurance. The responsibility of directors is very strict as they must ensure the protection and segregation of assets, especially in relation to third parties dealing with the PCC.

The important features of a PCC are:

  • Legal segregation and protection of assets and liabilities for each cell
  • Useful for any investment entity with various investment portfolios where each cell has its own investment
  • Favourable tax treatment under the Double Taxation Avoidance Agreements whilst being taxed as a single entity
  • Taxed as a GBL 1 thus benefitting from the corporate tax incentive
  • Different cells are taxed separately
  • A PCC may be registered by continuation of a company incorporated in another jurisdiction