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Open a Bank Account in Mauritius
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Mauritius is an island-country situated in the Southwest Indian Ocean, well-known as the Financial Center to neighboring nations such as India and those making up Africa.
Opening a bank account in Mauritius assures you of financial stability and anonymity, as well as flexibility.
Both personal and corporate accounts are available in Mauritius and you can choose among our four partner banks in this country.
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Mauritius Outline
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The country´s official name is the Republic of Mauritius, an island-nation off the coast of the African continent in the Southwest Indian Ocean, about 900 kilometers east of Madagascar. It is a democratic country. It´s capital is Port Luis and its official language is English.
Mauritius´ economic growth and political stability have grown throughout the years. It has the distinction of a very high employment rate, almost reaching 100%. Its free market ensures growth for businesses within its region.
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Merits of a Mauritius Bank Account
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As a well-known financial center in the Indian Sea, it has very tight relations with India, South Africa, Dubai, and other countries in the area for their investments.
Banking businesses were developed in Mauritius to support its financial activities. With its stable supply of resources, reliable and stable banking services are guaranteed.
Opening a personal or corporate bank account in the country ensures your financial security and flexibility. From our four partner banks, a full range of payment services such as electronic funds transfers (SWIF and IBAN), billing payments, cheque clearances, and banker´s drafts are available. Credit cards through our partner institutions (VISA and MasterCard) are also offered.
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Personal / Corporate Account
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There are four banks who cooperate us with understanding our direction and strategy.
Each of our four suggested banks offers its own unique services, depending on your needs. While one may be most convenient, another may cater more to investments. Refer to the following articles to help you choose the bank most suitable for you:
Oobac´s strong relationships with its partner banks allow us to guide you through the application process in the fastest way possible.
We will ensure that your account is opened in your convenience within the country´s regulations.
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Fixed Deposit Account
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Fixed Term Deposit Accounts feature some very appealing rates, subjective to the amount and terms chosen.
Kindly contact the bank for further details after you´ve opened your account.
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No Personal Appearances
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Your bank account may be opened offshore, without the need for any personal appearances. The bank only calls for the proper and complete documentation -- Oobac will handle the rest of the process.
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Multi-Currency Accounts
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The bank offers accounts catering to multiple currencies, giving you the freedom to trade in any market you wish.
We advise you to consider the best currency for your account given the world´s economic situation.
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Internet Banking
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Among the four partner banks in Mauritius, only two offer Internet banking services.
Banks with Online Services:
Banks without Online Services:
Banks without online services allow users to manage their account by telephone / fax or by visiting a branch in Mauritius. Bank employees converse in both English and French.
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Cards
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All four banks carry both credit cards and debit cards, and partner with VISA and MasterCard. Soon after opening an account, the bank shall inform you of card policies and other relevant facts so that you can choose which tool is the best for you.
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Initial Deposit
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An initial deposit of 5,000 EUR is required immediately upon opening a new bank account.
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Time for Opening An Account
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By using our EasyBankApp System, submitting your application takes a single step.
It takes 2 weeks to completely process a personal application. All information will be delivered in around 1 week through courier. You can track the status of your application by clicking on the "User Corner" link on our website.
Corporate accounts may take slightly longer to open than personal accounts. To ensure the quickest possible process, kindly prepare all your documents and ensure that they are complete with the needed information.
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Bank Name
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Bank names are never revealed on this site for security and technical reasons. Oobac offers its services in confidentiality to our clients as well as our partners. As such, our unique offers cannot be availed of on your own.
For more details, click on the following link:
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Required Documents
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For Personal Accounts:
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Copy of your passport
Proof of Address (within 3 months)
Recommendation letter from a lawyer, accountant, or another bank (Oobac may issue one for you)
Original Eligible Introducer Certificate (Oobac may issue one for you)
Original bank reference letter or a recommendation letter from a reputable law firm
Detailed CV
Details and nature of source of funds
All these documents must be new ones, issued within 3 months.
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For Corporate Accounts:
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Notarized copies of all your company documents include Certificate of Formation/Incorporation, Statement of Shareholders/Organizers
Status of Company
Board resolution for opening a bank account
Original Eligible Introducer Certificate (Oobac may issue one for you)
Background information (e.g. prospectus, annual reports, financial statements)
Business Plan and Details and Nature of Source of fund
Identification of directors, owners, and authorized signatories
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1) Passports Copies
2) Proof of Address (e.g. utility bills, credit card statements)
3) Bank Reference or Legal Reference
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Mauritius Bank 1
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This bank offers business-friendly and comprehensive services to both its local and international clients. It offers a wide range of financial solutions for your benefit and ensures a dedicated, personalized, and unparalleled customer service.
With world-class strategic partners and a passionate team of bankers, its regional and international capabilities deliver tailor-made solutions with tangible benefits.
Fostering trust, its customized services focus on:
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1. Corporate and Investment Banking, Treasury and Capital Markets
2. Private Banking and Wealth Management
3. International Banking Solutions
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Internet banking facility:
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This bank offer free and secured 24/7 service internet banking to all our clients both for viewing and transacting.
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Credit Card
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The bank offers individual USD Titanium Credit Cards which is affiliated with MasterCard. Its minimum credit limit is 250,000 MUR (approximately US $8,000): the bank generally takes a lien of 125% on a deposit account upon card issue.
The Titanium Credit Card offers rewards and discounts to cardholders including free access to 500 VIP airport lounges worldwide, Worldwide Travel Insurance Benefits, discounts in 5-Star Hotel in Mauritius, and exclusive discounts in top restaurants and retail stores.
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Fixed deposit account:
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High-yielding deposits await clients. The bank accepts almost any kind of currency and applies interest rate based on LIBOR. Up to 2.5% per annum profit our clients on six to twelve month deposits.
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Account Management:
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You can manage your account online, through telephone or fax, or by visiting a bank branch in Mauritius.
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A Message from the Bank:
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Mauritius has developed very strong economic ties with both Africa and Asia over the years and has been founding partners of many preferential trade areas and political organizations such as COMESA, SADC, the Indian Ocean Commission and the African Union.
The country is the ideal conduit to capture the growing investment and trade flows between these two continents with its comprehensive network of Double Taxation Agreements (DTAs), its geographical positioning, bilingual skilled work force and strong cultural ties.
The Bank is capitalizing on these unique opportunities and is also working extensively with other parts of the world, especially Europe and USA.
Our regional foundations in Mauritius and South Africa give you the reliability and trust of a global banking network delivered with boutique service and speed.
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Mauritius Bank 2
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The bank offers all the advantages entitled to a Mauritian company. Its legal and regulatory activities are in line with international standards for security and confidentiality.
As a member of an international banking network, it is more than capable of fulfilling your business´ banking needs and provides very effective and personalized customer service.
Some of these services are:
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1. Multi-currency Accounts
2. International Money Transfers
3. Foreign Exchange Services
4. Letters of Credit
5. Trade Finance to Global Business Companies
6. International Financing
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Internet banking facility:
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Online banking services are available for clients of the bank.
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Language
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The bank mainly uses French to communicate with its clients -- we recommend non-French speaking customers to opt for other Mauritian banks.
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Account Management:
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You can manage your account online, through telephone or fax, or by visiting a bank branch in Mauritius.
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Mauritius Bank 3
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The bank offers comprehensive services for any kind of client. Retail, private, corporate, SME, and international accounts may be opened by its customers. It maintains 13 bank branches throughout Mauritius and is fast becoming quite the formidable player in the banking industry.
The bank is managed by a dynamic and young group of professionals who have become seasoned in the financial world. Employees are selected based on specified skill-sets. With visionaries in its leadership as well as skilled personnel, the bank is well-posed for great heights in this future.
Internet Banking Facility:
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The bank currently does not feature online banking.
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Account Management:
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You can manage your account through telephone or fax, or by visiting a bank branch in Mauritius.
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International Banking:
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Major currency accounts for global businesses, trust companies, foreign companies, fund companies, and non-residents (checking accounts in MUR also available) are available to clients.
The bank employs Escrow Account Services Cash Management. Interest-bearing accounts and term deposits in major currencies are also available at competitive rates. Excess cash may be "parked" in term deposits for your convenience.
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Payments Services:
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Inward remittances are free of charge. Third-party payments are also accepted at competitive rates and commissions.
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Financing:
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The bank offers medium to long-term loans to fund projects, and working capital finances for overdrafts and bill discounting.
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Issuance of Guarantees:
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Structured Financing.
Equipment Financing.
Credit Lines Trade Services.
Import Services - Letter of Credit Facilities and Bill Collection Services.
Export Services - Letter of Credit Foreign Exchange Transactions.
Arrange spots, forward and swap deals in hard currencies at competitive rates.
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Investment Products:
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Authorized sales agent for IPRO funds.
Authorized sales agent for Merrill Lynch Fund for specific products.
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A Message from the Bank:
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We can effect outward payment for same day value subject to cutoff time. (USD-2.30 pm, EURO-before noon). Depending on the urgency of the transaction and on an exceptional basis, we may also accommodate transfers after the cutoff. Our tariffs of charges are very competitive and negotiable. Though we have yet to employ Internet Banking, we may email your statements of account to you on a daily or weekly basis.
Remunerated call and competitive fixed deposit accounts are also on offer. For call accounts, interests earned start from 1,000 in any currency. For fixed deposit accounts, interests earned start from 5,000 in any currency. Clients maintaining large funds in their bank accounts or have qualified as a loyal customer can even negotiate rates.
Coming soon are E-Commerce facilities and Debit and Credit cards linked to foreign currency accounts. You can also watch out for free advice on international trade instruments. We remain available for any assistance / information that you may require.
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Mauritius Bank 4
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This bank marks its start of operations to June 1989. It is licensed by the Bank of Mauritius. It became part of the British American Investment Group (BAI) in April 2008. With its strong banking history, the institution not only offers its exceptional services but also opportunities for career progression and personal development.
Other features of this bank include:
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A challenging work environment.
Recognition and rewards for its employees.
Numerous opportunities to grow with the company.
Continuous training and development.
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Internet Banking Facility:
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The bank currently does not feature online banking.
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Fixed deposit account:
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* Minimum Initial Deposit: MUR100.00
* Minimum Amount to Earn Interest: MUR3,000.00
* Interest Rate: 4.25%
* Interest Payment: calculated daily & credited half yearly
* Daily Maintaining Balance: Not Applicable Of course, High Yields Savings Accounts can expect an even higher interest rate.
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Account Management:
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You can manage your account through telephone or fax, or by visiting a bank branch in Mauritius.
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A Message from the Bank:
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Our vision is to build our bank around our customers and we never forget to value each as an individual.
New and existing customers can expect to enjoy high levels of professionalism and expertise, enhanced products and services, simple and easy-to-use banking solutions along with the promise of honesty, integrity, security and long-term value.
ur bank is big enough to give you the benefits you deserve, personal enough to hold in the palm of your hand.
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