Appleby to open an office in Mauritius
Bermuda law firm Appleby Hunter Bailhache is to open an office on the Indian Ocean island of Mauritius to provide its clients with better access to the emerging markets of Africa, Asia and India.
Appleby (Mauritius International) Ltd., in the island?s capital of Port Louis, will open next month with two partners, Mauritian Gilbert Noel and Malcolm Moller, who is transferring from Appleby?s Bermuda office, and two associates plus support staff.
The group anticipates hiring local Mauritian lawyers who will spend time in the London, Hong Kong, Bermuda and the Cayman offices to advise clients in Europe, Asia and North America on the opportunities presented by the Mauritius base.
Mr. Noel said: ?We are very excited to see these new opportunities come to Mauritius. In addition to being able to offer world-class legal, fiduciary and administration services to businesses in Mauritius, we believe that Mauritius is poised to become a strong force in the offshore world for investment in the emerging economies in Africa and Asia.?
Mauritius, with a population of 1.2 million, is successfully encouraging the introduction of international business to stimulate investment and diversify the economy. Mauritius now has more than 30,000 global business company (GBC) registrations and 460 registered global funds with a net asset value in excess of $35 billion.
Appleby?s Mauritius office is the group?s fifth offshore base, following the establishment of branches in Bermuda, the British Virgin Islands, the Cayman Islands and Jersey.
The new office will focus on creating efficient investment structures for clients in North America, Europe and Asia, who want to invest in emerging African and Asian markets.
Mauritius is a member of the World Trade Organisation WTO, the Common Market for Eastern and Southern Africa (COMESA), and the Southern African Development Community (SADC), and has the effective commercial and legal infrastructure required to support the development of a global business network. Mauritius is also party to a number of double taxation agreements.
Since independence from Britain in 1968, Mauritius has developed from a low-income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourist sectors.