Banking System of Mauritius
Types of Bank Accounts
Various types of accounts are available in Mauritius banks depending on the client’s needs:
Account Opening Process and Timeframes
The procedure for opening a bank account in Mauritius with COREDO support includes the following stages:
Preliminary client analysis (Client Analysis).
COREDO specialists assess the client’s profile, analyse the business structure, and determine the optimal bank and account type taking into account the specific nature of the business.
Document preparation.
A complete set of documents is compiled in accordance with the requirements of the selected bank, Bank of Mauritius regulations, and FIAMLA provisions.
Application submission.
Documents are submitted to the bank; if necessary, a meeting between the client and bank representatives is arranged (a remote procedure is possible where the bank offers it).
Compliance review.
The bank conducts internal KYC/AML procedures, including document verification, sanctions list checks, and PEP screening.
Account opening.
Upon successful completion of the review, the account is activated and the client receives account details and access to online banking.
Verification and account opening timeframes depend on the selected bank, the complexity of the client’s corporate structure, and the completeness of submitted documents.
Required Documents
To open a corporate bank account in Mauritius, the following documents are typically required: a Certificate of Incorporation, incorporation documents (articles of association), a Board Resolution authorising the opening of the account. The list also typically includes identity documents (passports) of directors, beneficial owners, and authorised signatories. Other typical documents include proof of residential address for each individual (a bank statement or utility bill issued no earlier than three months prior), a bank reference letter. The list also typically includes ownership structure information indicating ultimate beneficial owners (UBO) who hold a controlling ownership interest, a business plan describing the planned activities, and documents confirming the source of funds.
For individuals, the standard set includes: a valid international passport, proof of residential address (a bank statement, utility bill, or government document issued no more than three months prior). The standard set also includes a bank reference letter, documents on the origin of funds (income certificate, tax declaration), and a completed bank application form.
The specific list of documents may vary depending on the bank, account type, and client profile. For applications from abroad, the Bank of Mauritius guideline provides for passport copies certified as true copies by a lawyer, accountant or other professional.
Advantages of Working with COREDO
COREDO provides clients with a number of significant advantages when opening a bank account in Mauritius. Professional experience since 2016 enables effective interaction with Mauritian banks and minimises the risk of rejection. COREDO specialists ensure full support at every stage — from initial analysis to obtaining access to the account. Each stage has its own fee set in advance; bank and payment institution fees are not included, and the final price may vary with the complexity of the case. An individual approach to each client allows selection of the optimal bank and account type, taking into account the specifics of the business, corporate structure, and intended use of the account.
Mauritius, as a recognised international financial centre with a network of double taxation agreements and a favourable regulatory environment, is of particular interest to companies conducting operations in the African and Asian regions.
Our Experts
The COREDO team has been operating since 2016 and supports clients in opening accounts with banks and payment institutions.
Frequently Asked Questions
For an individual consultation on opening a bank account in Mauritius, contact COREDO specialists. We will analyse your profile and propose the optimal solution.
