How far is foreign investment appreciated and respected
by law in Mauritius?
The attractiveness of Mauritius is enhanced by the fact that it
offers a regulated business environment which is very conductive to
investment and business growth. Mauritius aims to become a premier
investment platform located midway between Africa and Asia.
Besides the Government's incentives for investments
including, inter alia, tax incentives and payment facilities, the
country offers investors a stable economic, political environment
and financial system as well as a highly skilled and dynamic work
force. According to the ratings of Doing Business 2016 issued by
the World Bank, Mauritius is 32nd (out of 189) most favorable
countries for business in the world.
The Government of Mauritius has designated the Board of
Investment ("BOI") as a one-stop local agency which acts
as the facilitator for all forms of investment in Mauritius and
guides investors through the necessary processes for doing business
in the country.
No restrictions on ownership of companies exist, only the
television sector is subject to the restriction that a foreign
company cannot hold more than 20% of the capital of a Mauritian
television company. Mauritius does not apply stringent minimum
capital requirements to set up a company and offers an extensive
tax treaty network with several countries. Thus, foreign investors
can do business in Mauritius with all available forms of legal
entities and are allowed to own 100 percent equity in a local
How far are (foreign) investments protected by the
While Mauritius's success as a well-established
international financial centre can be attributed to its continually
expanding network of Double Taxation Avoidance Agreements
("DTAAs"), Mauritius has also entered into numerous
Investment Promotion and Protection Agreements ("IPPAs")
with various African countries which, while less well‐known
than DTAAs, are potentially of great importance to investors
seeking to invest in the developing markets of Asia and Africa.
In addition, Mauritius has signed several Bilateral Investment
Treaties ("BITs") to provide benefits and investment
protection for the home state in the host state.
Moreover, Mauritius has the necessary framework to protect the
interests of foreign investors, being a member of the International
Court of Justice, the International Centre for the Settlement of
Investment Disputes ("ICSID"), and the Multilateral
Investment Guarantee Agency ("MIGA").
Which regulations must be recognized in case of a
A merger situation occurs when two (2) or more enterprises, of
which one at least carries out its activities in Mauritius or
through a company incorporated in Mauritius, are brought under
common ownership or common control.
The procedures for mergers involve fairly straightforward
corporate actions such as, inter alia, acquisition of the share
capital of the target Mauritian company, and shareholder
Mauritian companies, private and public, have been involved in
considerable merger activities with companies listed on a number of
international stock exchanges. In fact, together with
amalgamations, mergers remain the primary means by which changes in
control occur given the close-knit nature of Mauritius corporate
Mergers can come under the scrutiny of the Competition
Commission of Mauritius ("CCM") where the transaction
results in more than 30% of the market share being controlled by
one entity or group, or where the CCM has reasonable grounds to
believe that it will result in a substantial lessening of
competition within the market.
Are there any provisions regarding public
A takeover is an offer made by, or on behalf of, a person (the
"bidder") to acquire the securities of another (the
"target") which will result in the bidder acquiring
effective control of the target, either immediately after the
acquisition or over a period of time.
Public takeovers are governed by the Financial Services Act
2007, the Securities Act 2005 and rules and regulations made under
these laws, namely the Securities (Takeover) Rules 2010 and the
Securities (Acquisition of the shares of the dissenting
shareholders during takeovers) Regulations 2010.
Originally produced by Juristconsult Chambers for DLA
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