Powers of directors of a company which is placed in administration
Last week, the wealth manager AMP has finally accepted its fate. It has stopped its operations and has put up the ‘For Sale’ sign. As you might have guessed, this was not a sudden decision. The firm had been struggling for quite a while before deciding that things will not get better. In fact, its downfall will be remembered for a long time to come in the financial world since it…
Highlights of the Mauritius Anti-Money Laundering
To align the Mauritius International Financial Centre to international norms and standards pertaining to AML/CFT and meet the Financial Action Task Force (FATF) requirements, the Anti-Money Laundering and Combatting the Financing of Terrorism (Miscellaneous Provisions) Act 2020 (the “Act”) was approved by…
CSG replacing the National Pension Fund in Mauritius
Effective from 1 September 2020, contribution to the National Pension Fund (“NPF”) has been abolished and replaced by the Contribution Sociale Genéralisée (“CSG”). Pursuant to the Contribution Sociale Genéralisée Regulations 2020 (“CSG Regulations”), every participant is liable to CSG every month.
Why choose Mauritius for alternative investment funds?
It might surprise many that Mauritius is not just the perfect holiday destination; instead, it is very well known for being a leading international finance centre. The island is the getaway for US$600 billion of annual investment into Africa and 40% of those leverage its comprehensive list of tax treaties. This demonstrates that…
