22 September 2011
Horse Racing in Mauritius
Most people would be surprised to hear that Mauritius has the oldest turf club and racecourse in the southern hemisphere. There are not many better ways to reward staff than a day at the races especially if they back the winners.
Apex sponsored the 5th race recently to celebrate our 5th anniversary and rising profile in Mauritius. We are one of the largest and leading fund administration companies in Mauritius with over 60 staff despite being relatively new.
Delivering a quality global service using good technology and being SAS 70 Tier II compliant have been our differentiator compared to our local competition but it is good to see some are buying the same system we use which helps to raise the standards of administration and reputation of the industry in Mauritius. This can only be a positive thing which all administrators with proper systems should benefit from.
Mauritius has historically benefited from the close cultural and economic ties with India and the tax treaty between the countries which results in a large proportion of foreign investment into India being routed through Mauritius. There has been uncertainty over the tax treaty for years but it seems to be in the news more now than ever. Singapore seems to be the main beneficiary and Cyprus to a lesser extent for fixed income. If Mauritius has its treaty changed it seems likely that the others will change too.
Mauritius also has good treaties with China and other African countries which are also good growth opportunities. It is a good time to diversify away from the reliance on India and look for new markets. There are plenty to choose from - Mongolia would be my favourite.
I think the treaty will stand for several more years. Both India and Mauritius have too much to lose now. With offices in Mauritius, Singapore and Cyprus we have good solutions for fund managers and investors looking at India.