Maitland acquires Mauritian management company
Maitland, the international wealth and fund services firm, has acquired 100 per cent of Inter-Ocean Management, a corporate services and trust company based in Mauritius.
The deal takes effect from 1 July 2012.
Over the past five years, Mauritius has transformed itself into a springboard for trade and investment into Asia and the fast-growing markets of Africa. Mauritius’ favourable tax regime and wide international double tax and bilateral investment treaty network makes it a sought after jurisdiction for the establishment of international holding companies and trusts for international corporations and individuals. It is also a suitable jurisdiction for the establishment of investment funds.
Maitland chief executive Steve Georgala says: “This is in line with Maitland’s strategy to expand into jurisdictions offering sophisticated international tax planning opportunities. The business and client base of Inter-Ocean Management is complementary to our own and we expect to expand the business significantly in the years to come.”
Like Maitland, Inter-Ocean Management serves corporate, private and investment fund clients. It provides a range of structuring, company secretarial, corporate trustee, accounting and private equity fund administration services.
Brendon Jones, managing director of Inter-Ocean Management, says: “With Maitland’s support we will be able to expand our service offering to include a full range of fund services from Mauritius and also to access a wider client base. Our clients will have access to Maitland’s strong international tax services and combined we will be able to pool our extensive African operations for our clients’ benefit.”
Inter-Ocean Management is being acquired as a going concern and all staff members will be retained; the name of the company will be changed to Maitland (Mauritius) Limited.
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