Banking in Mauritius

Bank of Mauritius and Financial Services Commissions are two mandated bodies responsible for bank and non-bank financial service industry. The country has a well-regulated banking system with a risk-based supervisory framework including a strict AML/CFT legislation in place.

Mauritius has a large, bank-dominated financial sector. Overall, the financial sector contributes approximately 10% to GDP. Banking licenses are granted under Banking Act 2004, which allows banks to carry both domestic and offshore bank activities. As of Jun 2018, there are 5 domestically owned banks, 13 subsidiaries of foreign banks, 4 branches of foreign banks and 1 domestic/foreign joint venture, all constitute to 23 financial institutions. Five largest banks account for two-thirds of total assets.

Mauritius Banks offer an extensive range of services for offshore corporations i.e. multi-currency accounts, cross-border transactions, debit/credit card, internet banking…

Need more references? Here is a Banking Tool to make your decision easier!

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Required Documents

We can support you opening company bank accounts in Mauritius or any proper offshore jurisdictions. Different banks will have unique requirements on a case-by-case basis. Some of the most common documents are presented below for your review:
  • Account application form
  • Bank statements
  • Bank reference letter
  • Business proofs (sales/purchase orders, invoice, contract…
  • Certified copies of valid passport, recent address proof within 3 months for all directors/shareholders/account signatories
  • Business plan
  • Certified copies of Mauritius GBC company documents i.e. CoI, M&AA, Registers of directors/shareholders…
  • Certificate of Good Standing/Certificate of Incumbency.

Please contact BBCIncorp to know the exact documents needed for your case.

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