2024: Doing Business in Mauritius

Part 1: Doing Business in MAURITIUS

What is the current business climate in your jurisdiction including major political, economic, and/or legal activities on the horizon in your country that could have a big impact on businesses?

Mauritius enjoys a long tradition of political and social stability and its politics is underpinned by strong institutions and a tradition of multi-party democracy. The country's economy is diversified and 

is widely recognized as an established offshore financial center for purposes of investment on the African continent with various international banks present in the country. Specific, dedicated legal and regulatory structures aimed at attracting international financial (and business) services, including specific incentives available to Global Business companies, have been developed.

Several measures have been announced to improve the business environment in Mauritius. These include aspects such as the setting up of a committee to coordinate and ensure implementation of reforms in line with the recommendations of the World Bank, and encouraging the adoption of e-signatures and recognition of certifications by the Information and Communication Technologies Authority to facilitate business transactions. In addition, investors have started to capitalise on the use of new corporate vehicles, such as variable capital companies, introduced in legalization. Regulatory developments have been geared towards creating a more business-friendly environment by reinforcing Mauritius' position as a reputable international financial center, and adopting digitalized methods of improving business transactions, while also consolidating the anti-money laundering and countering the financing of terrorism framework by taking a "risk-averse" approach.

From what countries do you see the most inbound investment? What about outbound? 

Europe, with a market share of 39%, is Mauritius' main source of foreign direct investment. France and South Africa also represent a significant source of foreign direct investment flows for the country. 

In what industries/sectors are you seeing the most opportunity for foreign investment? 

Foreign investment opportunities are available in various industries/sectors, including the agro-industry, blue economy, education, financial services, freeport and logistics, healthcare and pharmaceuticals, information and communication technology, life sciences, creative industry, real estate and hospitality, renewable energy, manufacturing, and sports economy.

What advantages and pitfalls should others know about doing business in your country? 

While Mauritius generally does not discriminate between local and foreign investment, foreign involvement in some business activities is restricted. These include tourism activities, activities over the continental shelf, investment in securities, insurance activities, fishing or any related activity within the maritime zones, legal services, sugar production, television broadcasting, and newspaper and magazine publishing. In some instances, a minimum of local participation is also required, including with respect to casinos, broadcasting companies, and insurance companies.

Investors are offered a conducive environment for doing business which guarantees predictability, certainty, and security through the country's wide network of Double Taxation Agreements and Investment Promotion and Protection Agreements. 

What is one cultural fact or custom about your country that others should know when doing business there? 

When greeting business associates, it is customary to do so with a handshake in order of seniority and title and allow them to commence the exchange of business cards. In-person meetings typically take place over a meal and play an important role in building a strong rapport with Mauritian associates. 

Part 2: About Your Firm

What distinguishes your firm from others in your market? 

With offices in Eastern, Southern and Western Africa, we have deep expertise and the capacity to solve all our client's legal, tax, forensics, and IP requirements and help them navigate regulatory hurdles, no matter where in Africa they do business. 

Because we have many years of practical experience working on the ground throughout Africa, we have developed a proven track record and a solid understanding of local cultural, commercial and geopolitical contexts, as well as long-standing partnerships with trusted firms with whom we work. 

Our practitioners are qualified to practice English law and French law and we have extensive experience in the legal codes of OHADA used in West and Central Africa.

Our tagline at ENS is 'Original Thinking,' meaning we thrive on ingenuity and producing the best solutions for our clients and their needs.  

What are three words that describe the culture of your firm? 

Smart, Open-minded, Caring.

How does your firm participate in Corporate Social Responsibility (CSR) and/or Environmental, Social, and Governance (ESG) initiatives? 

We invest thousands of hours every year in a wide variety of pro bono work across the African continent. In South Africa, our efforts are focused on our two permanent pro bono offices—a first for a law firm. These offices are located in areas with difficult living conditions, including high levels of unemployment and numerous challenges. 

Our pro bono project has a multipronged approach which consists of the provision of advice and assistance, as well as legal education and skills development, in order to equip community members with knowledge and vital skills, thereby contributing to access to justice and the fostering of entrepreneurship and the growth of sustainable small businesses.

We run annual business management training programmes and courses in human rights and constitutional law, with the aim of empowering leaders and activists with important information which will be shared in their communities.

Are there any new and exciting initiatives, practice areas, or industry focuses in your firm? 

We have recently introduced our Public Law practice, showcasing our experience in providing opinion and advisory services, administrative law services relating to the performance of public powers and functions, transactional services relating to public-private partnerships, drafting legislation supporting investigative and reporting work, and conducting judicial reviews of decisions by organs of state and public functionaries. 

Our Public Law practice has advised clients from a number of industries, namely banking and finance, basic education, construction, electronic communications, early childhood development, energy, electricity, mining, port services, private and public higher education, transport and logistics, strategic oil reserves, telecommunications, human settlements, media, electoral issues, real estate, prisons, and pharmaceuticals.

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