In a bid to position the country as a premier financial and legal services centre in the region, legal services were liberalized to enable law firms to establish local offices or joint ventures in Mauritius following the amendment of the Law Practitioners Act in December 2008. The new laws provide a framework for the regulation and practice of foreign and international law in Mauritius.
International Law firms advises Mauritian businesses as well as international corporations, financial institutions on all aspects of corporate, commercial and regulatory law, public and private mergers and acquisitions, restructurings, bankruptcy, capital markets, fund formation (private equity funds and hedge funds), joint ventures, strategic and advisory corporate assignments.
Mauritius as an International Arbitration Centre for the region
Mauritius is embracing this new model of dispute settlement a legal culture as it offers a tailor-made option for investors which caters for a cheap and fast out-of-court alternative to settle commercial disputes which would safeguard confidentiality. The International Arbitration Act offers a simple and ready-made mechanism for the incorporation of arbitration clauses in the constitution of Global Business companies based in Mauritius. In addition to, investors can also have additional comfort in the availability of a pool of international arbitrators for settling disputes. Arbitration is preferred across sectors for the flexible approach over the rigidity of courts.
Mauritius has signed a Host Country Agreement with the Permanent Court of Arbitration (PCA) and this was the first time in history that an agreement of the kind was made for a permanent representative outside Hague. As a token for recent progress made in the region, Mauritius has been granted the right to host the 2016 ICCA Congress, a key event in the international arbitration calendar held every two years, which Copenhagen, Sydney and Hong Kong were all in the race to organize the Congress.