Working with a trusted business partner, making well-informed decisions and striking the balance to treat stakeholders and clients fairly are among key considerations driving efficiency, taking the business to greater heights and create path for the business to thrive and generate more profits.
In addition to existing conducive business environment and security, investors need not to worry as they have got another reason to stick to Rwanda’s openness for businesses.
With an average annual growth rate of 8.6% over the past 10 years, Rwanda is one of Africa’s fastest growing economies which is now poised to become one of the continent’s leading financial centres. It is ranked second in sub-Saharan Africa in the World Global Rule of Law Index and second for ease of doing business. Rwanda is also recognized as the least corrupt, safest and first in terms of network readiness on the continent.
Among others, Rwanda has established a strong Double Taxation Avoidance Agreement (DTAA) network with many countries and the country is extending its network in Africa and with leading developing economies. The country has also entered into Investment Protection Agreements with several countries such as USA, Germany, Belgium and South Korea.
With long-standing experience, JurisTax Group has again proved its prowess as a reliable partner to lean on as it continuously strives to take the lead in the provision of tax advisory and related services with the expansion of footprints to Rwanda and local offices that will set a benchmark for regional presence.
The recent coming to Rwanda also adds up to the country’s ambitions to become an investment hub where almost all services for investors are pooled together.
Established in 2018, JurisTax Rwanda Ltd is part of JurisTax Group which is based in Mauritius since inception in 2008. The group has presence in Dubai, Seychelles, China, South Africa and Rwanda.
The company’s presence in Rwanda makes it the first local Trust Company Service Provider regulated by the National Bank of Rwanda (BNR). It is also member of Kigali International Financial Center (KIFC) making it easier to provide a full range of support services to clients, including corporate set up, administrative, accounting and secretarial matters.
According to Mrs Murorunkwere N. Lydie, the group has expanded footprints to Rwanda and joined the KIFC to be able to support different financial services companies aspiring to bring their investments to Rwanda.
Apart from that, the local subsidiary also looks forward to building capacity in the Rwandese market, in collaboration with a training institute based in Kigali (Africa Institute of Training & Development Ltd - AITD) to deliver high-quality trainings to equip the Rwandese professionals with the most up-to-date skills and knowledge needed to efficiently handle the contemplated influx of business in the Rwandese market.
With 2000 clients globally, JurisTax Group manages today a portfolio of US$5billion with major customers coming from the United States of America (USA), Asia, Europe and the African continent.
The group’s subsidiary in Rwanda works with private institutions in different sectors.
As Mrs Murorunkwere explained, the portfolio is growing gradually as Rwanda, through the KFIC, continues to offer different tax incentives to attract investors from around the world.
“JurisTax Group wants to use Rwanda as a channel to lure different investors on the continent after Mauritius. We want to make Rwanda as a gateway for foreign investors from Europe and Asia among others to enter the African market,” she said.
After completing the first point of entrance for investors which begins with registration at Rwanda Development Board (RDB), JurisTax Rwanda Ltd provides support beyond registration be it licensing from different authorities like the Capital market Authority, the National Central Bank, and Ministry of Trade among others.
“We try to work with those investors to understand the nature of business environment because it can take some time when you are not familiar,” said Mrs Murorunkwere.
“JurisTax Rwanda Ltd is not only trying work with the entire ecosystem in terms of regulatory bodies, but also making sure that the company to set up on the local market is going to be compliant with taxation, different laws with due diligence. We need to be cautious, work diligently to ensure new investors come with good reasons and help them develop proactive approaches to de-risk businesses in many ways,” she added.
As Murorunkwere revealed, JurisTax Rwanda Ltd seeks to be the leading trusted corporate service provider on the Region.
The company also mulls penetrating into other neighbouring East African countries.
“We have started creating synergies with other companies in the region so that we can help investors interested to expand businesses in the area. We will grow our African presence step by step but the main transactions are currently based in Rwanda,” she said.
JurisTax Rwanda Ltd is not only helping companies but also individuals with diversified investments through guidance to tap into available opportunities on the local market and helping them to maximize benefits from offered incentives.