“While some investors may find the prospect of investing in certain African countries intimidating, the promotion’s platform offers a fully regulated, effortless and straightforward entry point into the African market.”Ashiv Parianen – Senior Legal Advisor, Centurion Law Group
On February 21, 2023, Centurion Law Group hosted a webinar titled “Invest in Africa”, which included a panel discussion on the state of African markets and the opportunities available for foreign investors in various African countries. One of the panellists, Ashiv Parianen, Senior Legal Advisor at Centurion Law Group, highlighted Mauritius as a prime destination for investing in Africa.
Parianen emphasized that Mauritius is well-versed in using its motion platform to its full potential, efficiently facilitating clients and prospective investors’ businesses all over the African continent. According to the World Bank’s annual ratings, Mauritius is one of the top countries in Africa for ease of doing business, with numerous legal and regulatory frameworks, low cost of business, and fiscal incentives, which together make it a robust and reputable international financial center.
According to Parianen, while some investors may find the prospect of investing in certain African countries intimidating, the promotion’s platform offers a fully regulated, effortless and straightforward entry point into the African market. He gave an example of how registering a Global Business Company in Mauritius can provide investors with the confidence that their business adheres to the most rigorous regulatory frameworks, managed by a team of highly qualified and skilled professionals within Centurion and its affiliates. He also mentioned a report by Capital Economics, commissioned by the Economic Development Board of Mauritius, which highlighted Mauritius’ role as a catalyst for sustainable growth and development in Africa. According to the report, foreign direct investment of $80 billion into mainland Africa is mediated by Mauritius, creating 4.2 million jobs on the continent. Parianen explained that Mauritius has been very stringent in maintaining its state of the art database and compliance practices, making it the most compliant country and number one in Africa in meeting all of the Financial Action Task Force (FATF) recommendations.
During the webinar, it was mentioned that the Ascension website and previous articles offer valuable information for investors seeking to grow their business within Africa, with Mauritius being a destination of choice. It was noted that Mauritius is embracing innovative solutions and bolstering its service providers with new rules and regulations to further enhance the island’s contribution to Africa. The Virtual Assets and Insured Occurring Offering Services Act was highlighted as one of the most attractive propositions. This new law, which came into force last year, made Mauritius one of the first countries in Africa and globally to regulate blockchain technology and virtual asset providers, making it an ideal destination for investors looking to leverage fintech opportunities in the region.
The panellist also noted that with the help of its renowned regulatory system, Mauritius aims to give confidence and safety to investors seeking to take advantage of the new opportunities offered by the fintech environment. At Centurion, they strive to provide sustainability products and solutions to their clients and prospective investors, partnering with the best and most compliant and highly regulated players in the field. Their aim is to have Mauritius become the most efficient fintech hub in Africa and make use of its new business tools that can seamlessly facilitate access to finance and ease the process of payments and transfer funds all over Africa.
The host of the webinar inquired about how Centurion Law Group helps its clients and investors to mitigate some of these issues. In response, the panellist representing Mauritius, emphasized that the government of Mauritius has established the Economic Development Board (EDB), which is the state’s dedicated investment promotion agency. Over the years, the EDB has devised a host of schemes and has successfully implemented the government’s policies for business facilitation, which has contributed to Mauritius becoming one of the fastest-growing economies in sub-Saharan Africa. The panellist shed light that Centurion Law Group is well-versed in all the legal and regulatory frameworks provided by the government and works hand in hand with its clients and prospective investors to take advantage of these frameworks that are designed to mitigate the challenges posed by investing in Africa.
Parianen further explained that when it comes to investing in Mauritius itself and physical infrastructure point of view, the government has invested more than $3 billion on new roads and networks, as well as on the maintenance of the existing networks to facilitate transport around the island. In terms of connectivity, Mauritius offers 5 broadband networks in its major business centers. He explained that these infrastructure investments provide a breath of fresh air to investors who are growing uncomfortable with the challenges they face in terms of business infrastructure in Africa.
The real estate sector in Mauritius is particularly attractive due to the absence of capital gains estate or inheritance tax, and the sector offers a high return on investment of over 7% in terms of rental income, without any limitations.”Ashiv Parianen – Senior Legal Advisor, Centurion Law Group
Mauritius, often regarded as a paradise destination, is also an excellent platform for global investment, offering a variety of investment opportunities within the island itself. These opportunities span various sectors, including real estate, global headquarters, administration, and free port operation, among others. The panelist highlighted that the country has established a “mission of free hope” for specific foreigners, guaranteeing investors and businesses a range of incentives to invest in real estate, work, live, or even retire in Mauritius. It is renowned for being the safest and most peaceful country in Africa and is considered one of the most welcoming nations globally. The real estate sector in Mauritius is particularly attractive due to the absence of capital gains estate or inheritance tax, and the sector offers a high return on investment of over 7% in terms of rental income, without any limitations. In addition to its investment opportunities, Mauritius boasts a robust legal system that offers alternative dispute resolution in the form of arbitration and mediation to its international arbitration counterparts. The system is inclusive and benefits from both civil and common law frameworks, possessing all infrastructure requirements for the efficient conduct of proceedings.
During the webinar, the panelist was asked about his personal experience in Mauritius, to which he responded that it is a wonderful country to visit, with several investment opportunities for investors to explore, similar to other African countries.
In conclusion, Mauritius offers an ideal environment for foreign investors seeking to tap into the vast business opportunities and resources available in Africa. The country’s strong legal and regulatory framework, favorable business climate, and seamless entry point to the African market make it an attractive destination for investors. Additionally, Mauritius is renowned for its stringent compliance practices, innovation in regulation of blockchain technology and virtual assets providers, and commitment to becoming the most efficient fintech hub in Africa. Working closely with the Economic Development Board and the government’s significant investment in physical infrastructure and connectivity, Centurion Law Group is committed to helping investors navigate the challenges of investing in Africa. Furthermore, with excellent investment opportunities, a safe, peaceful, and welcoming environment, and a robust legal system, Mauritius is an attractive destination for investors seeking to invest in real estate, work, live, or retire in the country.
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