Boolell Chambers. She is experienced in company law, corporate
reorganizations, insolvency law and intellectual property law. She
provides professional guidance to clients operating in the insurance
sector, construction industry and management companies.
Temple Court
2, Labourdonnais Street
Port-Louis, Mauritius
230.212.9810 Phone
230.212.9868 Fax
ubb@intnet.mu
www.templegroup.mu
Temple Court
2, Labourdonnais Street
Port-Louis, Mauritius
230.212.9810 Phone
230.212.9868 Fax
ubb@intnet.mu
www.templegroup.mu
2011 as Legal Executive. Poonam advises clients on matters relating
to company law, intellectual property law, employment issues and
ongoing business operations.
gaining momentum, with leaders tak-
ing major measures to enhance their
economies and foster political stability.
Africa, being a land of untapped mineral
resources, has attracted investors to its
growing markets, including the telecom-
munications sector. In addition, Mau-
ritius is increasingly being hailed as a
jurisdiction of choice for doing business
and facilitating investment. This has
been highlighted by its top African rank-
ing by the World Bank in its 2011 "Ease
of Doing Business" Report and in the
Mo Ibrahim Index of Corporate Gover-
nance. Such indices acknowledge that
the logistical, corporate governance and
legal setup of Mauritius provides incen-
tives which are fundamental to instill-
ing unparalled confidence in business
transactions in Africa. Such positioning
has been fundamental in establishing the
Mauritian jurisdiction as an emerging
the African continent.
For centuries, Africa and Mauritius
have enjoyed close rapport, founded on
cultural heritage and ancestry. Through-
out the years, the relations have devel-
oped into mutual collaboration in trade
and investment. Those relationships
have now translated into solid diplomatic
ties, coupled with the necessity for the
African parties to be more economically
supportive of each other in the face of
European and Chinese giants. The need
to create more favorable trading terms
among themselves has led to the addition
of Mauritius to a number of regional ini-
tiatives, namely the Common Market for
Eastern and Southern Africa (COMESA),
the Southern African Development Com-
munity (SADC), the Africa Growth and
Opportunity Act (AGOA), the African-
Pacific-Caribbean (ACP) and the Indian
Rim Countries (RIM). These member-
access, no custom duties and privileged
market access. It should, however, be
noted that despite such regional endeav-
ors, investments in Mauritius are regu-
lated by the Investment Promotion Act
2000, which is compliant with the World
Trade Organization's agreement on Trade
Related Investment Measures (TRIM).
On a more contractual basis, the need
to foster investment has led to the signa-
ture of no less than 13 Double Taxation
Avoidance Agreements with African
counterparts, with three more pending
ratification. There are also a number
of Investment Promotion and Protec-
tion Agreements which are in place
between Mauritius and other countries
of the continent under the aegis of the
Board of Investment. Most notably, such
bilateral agreements have been reached
with South Africa, Botswana, Ghana and
Zimbabwe.
By way of a backdrop to African
investment by a Mauritian entity, a com-
pany which holds a Category 1 Global
Business License delivered by the Fi-
nancial Services Commission, the Mau-
ritian financial regulator may apply for a
tax residence certificate to be treated as
a Mauritian resident for all tax intents.
By virtue of the application of respective
Double Taxation Avoidance Agreements,
such an entity would benefit from non-
double taxation through tax credits of 80
percent, such that the Special Purpose
Vehicle would rarely be amenable to tax
in the jurisdiction. In the event that any