Mauritius is a politically stable jurisdiction and one of the largest financial hubs in Africa.

Mauritius’ banking sector is made up of sophisticated financial institutions that offer global banking services to a broad range of corporates and individuals. In addition to traditional banking facilities in a number of foreign currencies, they also offer card-based payment services, such as credit and debit cards, internet banking, and trade financing facilities. Furthermore, Mauritius is part of the IBAN numbering system, which may be convenient for individuals and companies transacting with European Banks.

Banks in Mauritius also offer institutional banking and wealth management services such as fund administration, custodial services, trusteeship, structured lending, international portfolio management, investment banking, private client activities, treasury, and specialized finance.

Mauritius corporate accounts are available for Mauritius Global Business License companies (GBL), as well as nonresident companies, including entities incorporated in offshore jurisdictions. Mauritius banks also understand wealth and succession planning structures and are used to work with structures using Trusts and Foundations.

Account opening procedures for corporate accounts are some of the most straightforward worldwide, and the turnaround time is pretty quick compared to other international financial centers.

For nonresident individuals, Mauritius also offers international banking facilities, from transactional banking and foreign currency exchange to brokerage accounts and wealth management services.

All in all, Mauritius is an attractive location for offshore companies to open bank accounts, especially if they are doing business in Asia, Europe, and Africa, as well as for nonresident individuals looking for a safe banking location with sophisticated wealth management services.