How will the changes brought by the Finance (Miscellaneous Provisions) Act 2023 change the business landscape in Mauritius? The team at Orison Legal comments on some of the practical challenges and opportunities brought by these changes in a series of short videos.
Part 1 – Employment Matters
The Finance Act 2023 brings significant changes to the employment landscape, including the introduction of the 4-day work week, leave management to take care of sick children and elderly people, applications for work permits and the obligation for certain employers to provide free childcare.
Part 2 – ESG and Sustainability
ESG and sustainability are moving up the corporate agenda, both in Mauritius and internationally. In the 2nd part of our short video series on the changes brought by the Finance Act 2023, our team discusses some of the ESG objectives behind new statutory obligations and the incentives being offered to help businesses improve their social responsibility strategy.
Part 3 – Financial Services
Part 3 of our short video series on the Finance Act 2023 focuses on the changes brought to the financial services sector. Our team discusses the measures implemented to enhance Mauritius’s attractiveness as an IFC, in particular the larger use of its fund structures. We also discuss the strengthening of the regulatory framework for virtual asset service providers and the financial services industry generally.
Part 4 – Real Estate
Real estate has developed into a pillar of the Mauritian economy and a significant source of foreign direct investment. The Finance Act 2023 introduced certain measures to enhance the attractiveness of real estate investments to citizens and non-citizens. The legislation also opens new avenues for foreign contractors to take up consultancy or construction work in the country.