Mauritius offshore banking for international customers
With more foreign investment than ever before, the African region can be expected to continue its economic trajectory.
As a result, these international companies have banking requirements for their internationally registered company that is not based in Africa.
These businesses prefer to open an account that is able to conduct business with African companies rather than incorporating a branch or establishing a new company in Africa.
Therefore, Mauritius should be given serious consider for offshore banking in Africa.
When the word Africa comes to mind most people consider countries such as Kenya, Nigeria, Ghana, Senegal, Ethiopia, Uganda, Mali and other central African countries.
Since Mauritius is located on the tropical sea side of the African continent, the country is often mistaken as a Caribbean country when in fact, Mauritius offers offshore banking in Africa for personal offshore and business corporate international bank accounts.
Having an offshore bank account in Mauritius means:
There is no requirement to live in the country to open either an offshore personal account.
It is also not necessary to have your business registered in Mauritius to open an commercial business offshore bank account, as the country is friendly to opening an offshore bank account for international businesses.
While Africa is not the first country that comes to mind when it comes to offshore banking for clients that have such a requirement Mauritius is best country in African country for offshore banking to accommodate such a request.
Both offshore personal bank account as well as corporate business offshore bank accounts are possible at various banks in Mauritius.
Mauritius offers different types of offshore bank accounts:
Basic personal offshore bank account
Perfect for most clients who wishes to park their funds in another country outside of their home country.
Private offshore bank account
Offshore banking offered by private banks in Mauritius. Expect the best customer service and investment options offered by these banks.
Corporate commercial business bank account
Ideal for companies that needs to make international business transactions and payments when banks in their home country are unable to meet their requirements.
Why Mauritius is the number one African country for offshore banking
Strategic Geographic Location
An African national with international aspiration and visions, Mauritius provides the perfect opportunity for global businesses that are looking to invest in Africa, while served by Western banks.
The country’s close proximity to Africa, Asia, and the Middle East, makes Mauritius an ideal choice for offshore banking for companies looking to capitalize on the developing opportunities in Africa while still being connected by banks that maintain international standards in technology and service.
Attractive Tax Regime
Mauritius’ tax structure is often attractive for clients, both business and personal, who are looking for something different than what their home country offers.
With favorable tax incentives for both foreign businesses and individuals, a carefully structured setup combined with offshore banking in Mauritius presents excellent opportunities for tax optimization.
It is important to consult with a local tax advisor in Mauritius and in your home country to find a structure that will work for you.
Secure Financial Regulation
With it’s robust regulatory framework, Mauritius ensures the highest standards of financial integrity and transparency which are respected by the international community.
Offshore banking in Mauritius provides worldclass secure operating environment which keeps your funds safe and while committing to global regulatory standards.
A Stable Currency
The Mauritian Rupee (MUR) is suitable for both domestic and international offshore banking transactions.
Pegged against the USD, the Mauritius Rupee offers reliability which minimizes exposure to currency fluctuations, thus offering a secure foundation for financial activities.
Offshore banks in Mauritius offers transactions and holding of major currencies in USD, EUR, GBP, as well as minor currencies popular for regional transactions with other African countries.
Plan and benefit from the country Double Taxation Avoidance Treaties (DTAs) with 137 countries
Currently there are 137 countries that takes part in various Double Tax Avoidance treaties and Mauritius is one of these networked countries that reciprocate and follows the treaty.
Not only does this foster international cooperation between countries, it also benefits individuals investors and international businesses who are structure the business and wealth in such a way that could potentially completely eliminate their tax obligations.
This Double Taxation Avoidance (DTA) network multiplies the appeal of offshore banking by reducing the tax burden on cross-border transactions and investments, thus making Mauritius one of the top countries for offshore banking needs.
Technological Advancements
Mauritius invests in heavily to ensure their financial framework meets international standards.
With the latest technologies, the banking structure in Mauritius can be considered in a class of its own in the region.
Banks that offer offshore banking in Mauritius guarantees efficiency, security, which allows you to complete your financial transactions seamlessly and securely.
Online banking allows users to access their finances in real time.
Focus on Privacy and Security
Mauritius boasts some of the most robust banking secrecy laws in the world. All of your information remains confidential. Whether personal identifying information or financial transactions, they are all shielded from prying eyes and prevents potential legal entanglements in your home country.
One key point to note about Mauritius is that it is currently not a part of the Organisation for Economic Co-operation and Development (OECD), which means there is no automatic exchange of information unless a court order was involved.
Political and Economic Stability: The island country is long known for its political stability and consistent economy, Mauritius’ offshore accounts offers a safe and secure environment for your assets
Access Investment Opportunities
Offshore banks in Mauritius offers access to a large range of investment opportunities across various asset classes, such as access to international stock exchanges, opportunities to invest in stocks, hedge funds and bonds in various real estate projects and private equity options.
Banks that offers offshore banking in Mauritius allows customers to transact freely in multiple currencies due to the absence of exchange controls, thus making offshore Mauritius banks popular to international business that needs simply and complex financial transactions.
Mauritius does not enforce any capital or currency control, which allows you to operate the manage your funds as you like.
How to choose an offshore bank in Mauritius
Not every bank in Mauritius offers offshore bank accounts.
There are multiple quality banks in Mauritius that feature offshore banking.
This means clients can open an offshore bank account remotely without visiting the country for both individual offshore account and business offshore bank account in Mauritius
Our team will work with you closely determine the ideal option for your situation.
What documents are needed to an offshore account in Mauritius?
If your business or personal circumstances falls inline with what the banks are looking for, the account opening can be expected in 30 working days.
You need to provide the following documents to for your new offshore bank account in Mauritius:
- Business Plan
- Bank Reference Letter
- Certificate of Good Standing
- Articles of Incorporation
- Certificate of Incorporation
- Certificate of Shareholder
- Curriculum Vitae (Shareholders and Authorized Signature)
- Financial Statement/6 Month Bank Statement
- Valid Passport – (Authorized Signature)
- Valid Passport – Ultimate Beneficial Owner (UBO)
- Utility Bill – (UBO and Company)
Opening an individual personal offshore bank account in Mauritius requires these documents:
- Bank Reference Letter
- Curriculum Vitae (Shareholders and Authorized Signature)
- Financial Statement/6 Month Bank Statement
- Valid Passport – (Authorized Signature)
- Address proof with utility bill such as power, water, credit card
Mauritius Offshore Application process assistance
Our team will work with you to complete the necessary paperwork and review them with the bank’s relationship manager prior to applying official to increase the likelihood of success to open your new offshore bank account in Mauritius.
Understanding Eligibility Requirements For Offshore Banking in Mauritius
To open an offshore personal bank account or corporate business offshore account in Mauritius, clients must meet the requirements set by the banks.
Each bank their own list of preferred nationalities and business jurisdiction where they will accept an international company from.
Starting balance for opening both an offshore personal or business bank account in the Mauritius starts from $25,000 USD.
