Friday, January 19, 2007

Appleby Announces Its Launch in Mauritus

Appleby Hunter Bailhache Group, which recently announced the join of a new lawyer to the Hong Kong office of the firm, in the mid of January has launched an office in the Republic of Mauritius.

The Appleby Group is one of the leading offshore legal, fiduciary and administration service provider with major offices in four leading offshore business centres worldwide – British Virgin Islands, Cayman Islands, Bermuda and Jersey, and having offices in London and Hong Kong. Appleby has expanded rapidly in the last three years, with a total staff of 600 including 45 partners. The Mauritius is the firm's fifth offshore location.

The two-partner office in the Mauritius is expected to expand rapidly, further extending the services the firm offers to clients, and providing clients with greater access to the emerging African and Asian markets, with India as a particular target. The firm's clients in North America, Europe and Asia are looking for the resources of a global offshore services firm, to create efficient investment structures through an independent and well-placed sovereign country.

Mauritius is a member of the WTO, the Common Market for Eastern and Southern Africa and the Southern African Development Community. It is also party to a number of double taxation treaties. The country provides the effective commercial and legal infrastructure required for developing a global business network. Now there are more than 30,000 offshore companies registered in the island, and 460 registered global funds with a Net Asset Value of more than US$ 35 bn.

The Appleby office, which will work under the name of Appleby Ltd. (Mauritius International), will open in February 2007 in the capital Port Louis, with Mauritian partner Gilbert Noel, and Malcolm Moller who is transferring from the firm's Bermuda office; also with two associates and support staff. The Appleby Group is planning to hire Mauritian lawyers, for advising clients in Asia, Europe and North America on the opportunities offered by the Mauritius office.

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