IQE: Opening of New Office in Mauritius

The directors of IQE Limited announced today, 12th September, that they have opened a new office in Mauritius. The establishment of this business, which is located at Ebène, Cybercity, reflects the company’s ongoing strategy to expand globally its operations and the new office will primarily service clients based in India, Africa and China.

The selection of Mauritius as a jurisdiction follows on from IQE’s experience and feedback from business introducers in these markets, which has clearly indicated that a Mauritius presence would be beneficial to their clients. Commenting on the selection of Mauritius, David Karran, Managing Director of IQE Limited and director of IQE (Mauritius) Limited said, “We are very pleased IQE (Mauritius) Limited has been established and received approval by the Financial Services Commission of Mauritius to conduct corporate and trust services.  Mauritius has forged a strong reputation as a premier international financial centre. Strategically located, and supported by a robust regulatory framework, the jurisdiction benefits from a generous taxation system, an extensive tax treaty network, a reliable infrastructure and a pool of skilled professionals. The range of available financial structures provides an excellent fit with the services offered by IQE Limited creating the ability to support and implement cross border transactions and investment into the emerging markets”. 

IQE Limited, which was formerly Simcocks Trust Limited, has been operating in the corporate service and trust industry since 2000 offering its services to professional financial intermediaries from its Isle of Man headquarters. The exemplary service that IQE Limited has been able to provide will be duplicated in Mauritius where the infrastructure necessary to operate is similar to the Isle of Man. 

Steve McCafferty, Associate Director at IQE Limited who has responsibility for global business development, considers that the new office will provide real value to existing introducers and their clients, he commented “With an established international client base, who either operate from or actively invest in the emerging markets, it makes sense for us to position our business in the relevant jurisdictions so that we can continue to support fully that activity.  Mauritius is well positioned to meet many of our client requirements, given its geographical location and has a strong and established reputation for enabling business investment into Africa and India in particular, where many of our Corporate and Private clients operate. 

In addition it will complement the initial work we have undertaken in China over the last 12 months working with the Isle of Man Government and the top professional firms, with Mauritius actively being utilized by Chinese government agencies as they continue to invest in Africa.  Michael Charlton, International Director who is responsible for international business development for the Isle of Man Government recently accompanied two directors of IQE to India.  India is a key location for IQE Limited contributing around 20% of annual business income, this visit included meetings with IQE clients and advisers as well as industry bodies and we believe having an office in Mauritius will give IQE a competitive advantage in this market.”