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Mauritius IFC Business Meet

London 5th May 2017

Mauritius | An International Financial Centre of


Choice for Emerging Markets and FINTECH
MAURITIUS IFC: SNAPSHOT
IMPORTANT MILESTONES
1838
Establishment
of the first 2013
bank in 1971
1989 The
Mauritius, First
The Stock regulatory
becoming the Investment
Exchange of 2006 framework is
first
Promotion & Doing Business re-engineered
commercial Mauritius is 2016
Protection landscape was for global
bank to start licensed and New Bespoke
Agreement revamped funds and
operations in starts Products
the Southern
(IPPA) signed private equity
operations
Hemisphere with Germany

1948 1978 1991 - 1992 2001 2007 2015


Setting up of First Mauritius MOBA Act Introduction of Captive
the first Double positions Itself repealed and the Financial Insurance Act
general and Taxation for cross replaced by the Services Act Reactivation
long-term Agreement border Financial of the FSPA
insurance (DTA) activities Services
company in signed through Development
Mauritius with introduction of Act, under
Germany the which GBCs
followed Mauritius were
by France Offshore introduced
Business
Activities Establishment
Europe
19.57% Asia (Excl. India)
17. 08%

Europe
7.43% Asia (Excl. India)
23.72%

PROVEN IFC
OF CHOICE
Direct Inward Investment
of GBC1s in Mauritius

America
Direct Outward
42.51%
Investment of GBC1s from
Mauritius
America Africa India
5.94% 8.08% 11.39%

Africa India
8.64% 53.3%
MAURITIUS IFC AT A GLANCE

No. of Global Business Companies (Category 1)


12000

Number of active Global Investment


10000 Funds: 967

8000 Around 450 Private Equity Funds

Number of GBC 1 6000


Number of Domestic & International
Banks: 23
4000

2000

0
2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
STRONG REGULATORY FRAMEWORK

Regulator for: Regulator for:

Non-bank financial services sector Banking

Global business non-bank deposit taking institutions

money changers and foreign exchange

dealers
GLOBAL RECOGNITION
Among the first
jurisdictions to be
included in the White List

Favorable Country Report


& Peer Review
OECD
Largely Compliant

At par with Singapore,


London, New York and
Hong Kong

IOSCO
IAIS
International FATF
Memberships IFSB
MAURITIUS IFC PROPOSITION FOR AFRICA
GEOGRAPHICAL LEVERAGE
Within 7 hours flight to Main Cities

DUBAI
DELHI

MUMBAI

BANGALORE
CHENNAI

MALAYSIA
MALAYSIA
NAIROBI

SINGAPORE
PANZANIA
MAPUTO

DURBAN MAURIITIUS
JOHANNESBURG
MAURITIUS IFC SYDNEY
PERTH
CAPE TOWN MELBOURNE
MEMBER OF REGIONAL TRADING BLOCS

Southern African Development Community (SADC)

Common Market for Eastern and Southern Africa (COMESA)

Indian Ocean Rim Association for Regional Cooperation (IOR-ARC)

African Union (AU)


DOUBLE TAXATION
AVOIDANCE AGREEMENTS (DTAA)
Bilateral Taxation Agreements

Elimination of
double taxation
Reduction in
Clarity on tax rights
withholding taxes on
between States
dividends and royalties

Preferential Preferential
Treatment of capital Treatment on
gains interest payment on
loans
EXTENSIVE NETWORK OF BILATERAL TREATIES

Double
Taxation
Agreeme
nts

KEY:

- DTAA in force
- DTAA awaiting ratification
- 44 globally
- 21 with Africa states
INVESTMENT PROMOTION
AND PROTECTION AGREEMENT (IPPA)
BENEFITS OF THE IPPAS

RISK MITIGATION

EXPROPRIATION ARBITRATION

SUBROGATION REPATRIATION OF
CAPITAL AND
PROFITS
EXTENSIVE NETWORK OF BILATERAL TREATIES

Investme
nt
Promotio
n&
Protectio
n
Agreeme
nts
KEY:
- IPPA in force
- IPPA awaiting ratification
- 44 globally
- 23 with African states
FULL-FLEDGED INTERNATIONAL ARBITRATION
CENTRE

Home to two leading arbitral institutions

The London Court for International Arbitration (LCIA)


in association with the Mauritius International Arbitration Centre

The Permanent Court of Arbitration of the Hague (PCA)


First Permanent Representative Office outside the Hague

Arbitration Laws are based on the UNCITRAL Model

Signatory to the New York Convention


BE-SPOKE PRODUCTS FOR AFRICA
Regional
Headquarteri Innovative Captive
ng & Banking Insurance &
Administratio Solutions Re-insurance
n

Capital
Regional International
Raising &
Treasury Legal
EXITs
Management Services
Platform

Fund LP and LLP


Trade
Structing & Structures
Financing
Management

Corporate
Wealth
Finance &
Management Fintech
M&As Centre
& Succession Platform
Investment
Planning
Banking
GLOBAL HEADQUARTERS ADMINISTRATION
LICENCE
GLOBAL HEADQUARTERS ADMINISTRATION
LICENCE
REQUIREMENTS

HUMAN PRESENCE MINIMUM


RESOURCE EXPENDITURE
Minimum of 10 Primary bank account
resident fulltime in Mauritius
professionals Physical office in
Mauritius Minimum Expenditure:
At least 3 at senior MUR 5 million (USD
management level 150,000)
GLOBAL TREASURY ACTIVITIES LICENCE
REQUIREMENTS

HUMAN PRESENCE MINIMUM


RESOURCE EXPENDITURE
Minimum of 4 resident Primary bank account
fulltime professionals in Mauritius
Physical office in
Mauritius Minimum Expenditure:
At least 1 at senior MUR 2 million (USD
management level 60,000)
INVESTMENT BANKING
REQUIREMENTS

HUMAN PRESENCE MINIMUM


RESOURCE EXPENDITURE
Primary bank account
in Mauritius
At least 5 Physical office in Minimum Capital
professionals Mauritius required MUR 50
million (USD 150,000)
Minimum Expenditure:
MUR 5 million
IDEAL CAPITAL RAISING PLATFORM FOR AFRICA

Only African exchange to list, trade and settle equity and

debt products in USD, EUR, GBP, ZAR, MUR

Market Capitalization : USD 11.1 billion

No. of listed Companies : 98 Companies

Since 1989 49 Foreign securities listed

An exchange leading in terms of innovation and


sustainability on the African continent. Recognized Exchange by
the HM Revenue Customs
ADDRESSING DEAL FLOWS IN AFRICA

THE AFRICA PLATFORM (TAP)

The premier capital raising, CF


& M&A hub for Africa

Match-making platform to
connect African bankable
projects in need of finance with
capital providers
ENHANCING THE MAURITIUS VALUE PROPOSITION FOR AFRICA
MINDEX - The Mauritius International Derivatives & Commodities
Exchange

First combined derivatives and spot trading platform of


the region

Derivatives exchange platform to hedge African


currencies

Trade in Gold, Diamond and other precious coloured


stones

State of the art Vault in Mauritius


Location to be declared as a free-zone
Spillovers:
Jewelry Manufacturing
Refineries
Polishing Units
The Financial Services Promotion Agency is mandated to promote and
develop the Mauritius International Financial Centre.

link@fspa.mu

www.mauritiusifc.mu

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