Mauritius

page5-img1The Republic of Mauritius is located in the South Western Indian Ocean approximately 900 kms west from Madagascar. The island has a population of approximately 1.2 million people whose roots go back to India, China, Madagascar, the United Kingdom, France and Africa. The political system is based on the British Parliamentary model, with a President and Prime Minister. Since its independence from the British Crown in 1968 the country has respected the democratic process which has allowed its dynamic economy to develop and become one of the most advanced in the region.

This was not always the case; at independence the country’s economy was experiencing sluggish growth, high rates of unemployment, and an economy solely dependent on sugar and low foreign direct investment. However, through proactive and well thought out economic measures this situation changed. The economy shifted dependency from sugar and diversified into textiles, tourism and services. This has enabled the country to grow and stabilise making it attractive for foreign direct investment.

One of the sectors that the government targeted for development was offshore financial and business management. The proper legal framework was put in place to make it attractive to both foreign and local interests. The authorities made sure that the set up was compliant with international law regarding money laundering, drugs and arms trafficking.

Today the financial services sector continues to grow as Mauritius earns a name for itself as a reputable international financial centre.