Competition between offshore firms has heated up with Conyers Dill & Pearman and Appleby both launching a Mauritian office to capture clients in emerging Asian markets.
Appleby and Conyers have both received licences to operate in Mauritius under new laws paving the way for foreign firms to operate under joint ventures.
Although Conyers established its Mauritian practice last October, its local office in Ebene received regulatory approval and registration only recently, in late June.
Around the same time, Appleby-who had opened its Mauritian outpost in February 2007-announced that it had beaten the competition by becoming the first foreign firm to be registered to practice both Mauritian and foreign law.
Both firms are aiming to strengthen their market stake in key Asian economies such as India. Appleby had a busy month in June, opening in Seychelles and Bahrain, while its merger with Isle of Man firm Dickinson Cruikshank means it narrowly beats Conyers' headcount, by five lawyers.
Conyers has said that its Mauritius office has received considerable interest from clients since October last year. The firm's strategy is to integrate its practice through a network of lawyers based in Dubai, London and Mauritius.
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