Appleby Hunter Bailhache will open an office in the Republic of Mauritius.
The expansion will enable Appleby to further extend the services it offers to clients and the new office will provide clients with greater access to the fast-growing emerging markets in Africa and Asia. The new office will be in the capital Port Louis and will begin operation in February.
Driven by client demand, Appleby has expanded rapidly in the last three years with a total staff of 600 including 45 partners, states a press release. The group is the only offshore legal, fiduciary and administration service provider with a major foothold in four of the world’s leading offshore business centres, Bermuda, the British Virgin Islands, Cayman Islands and Jersey as well as offices in London and Hong Kong.
The Mauritius office will provide the fifth offshore location and is expected to expand rapidly.
The new office will be focussed on investment into emerging African and Asian markets. Institutional clients in North America, Europe and Asia have indicated that they are looking for the resources of a global offshore services firm, to create efficient investment structures through a well-placed, independent sovereign country.
Mauritius is a member of the WTO, the Common Market for Eastern and Southern Africa and the Southern African Development Community, and has the effective commercial and legal infrastructure required to support the development of a global business network. Mauritius is also party to a number of double taxation agreements.
The island of Mauritius, with a population of 1.2 million, offers a highly educated workforce and the government is successfully encouraging the introduction of external financial institutions to stimulate investment and diversify the economy. Mauritius now has more than 30,000 global business company registrations and 460 registered global funds with a net asset value in excess of US$35 billion.
The Appleby office, which will operate under the name of Appleby (Mauritius International) Ltd., will open with two partners, Mauritian Gilbert Noel and Malcolm Moller, who is transferring from Appleby’s Bermuda office, and two associates plus support staff.
The group anticipates hiring Mauritian lawyers who will spend time in the London, Hong Kong, Bermuda and the Cayman offices to advise clients in Europe, Asia and North America on the opportunities presented by the Mauritius office.
‘We are very excited to see these new opportunities come to Mauritius. In addition to being able to offer world-class legal, fiduciary and administration services to businesses in Mauritius, we believe that Mauritius is poised to become a strong force in the offshore world for investment in the emerging economies in Africa and Asia. Appleby’s resources and reputation will greatly assist the growth of international business in Mauritius,’ said Gilbert Noel, the Mauritius partner who has played a key role in the opening of the new office.
‘Our driving strategy has been to be the leading provider of legal, fiduciary and administration services in the offshore world. Our entry into this market, further builds our strength and depth across multiple jurisdictions – bringing even greater resources and choice to our clients. This reinforces Appleby’s position as the first choice for clients in the offshore sector,’ said Peter Bubenzer, Appleby’s Global Group Managing partner.
Who they are
Appleby Hunter Bailhache is a leading provider of sophisticated offshore legal services.
The firm has approximately 600 staff with offices in Bermuda, the British Virgin Islands, the Cayman Islands, Jersey, Hong Kong, Mauritius and London. Appleby Hunter Bailhache has represented two thirds of the companies on the Fortune 500 list and almost one half of those on the FTSE 100 list, as well and many private companies and high net worth individuals.