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The Bank of Mauritius lists 18 licensed banks in October 2026, from The Mauritius Commercial Bank, SBM Bank, AfrAsia, Absa, HSBC and Standard Chartered to smaller institutions such as Bank One, BCP Bank and Warwyck Private Bank. A foreign-owned company with a Global Business Licence is incorporated by the Registrar of Companies and licensed by the Financial Services Commission, and a bank asks for both certificates. The law gives the company Mauritian substance before any bank looks at it. A GBC must have at least two directors resident in Mauritius, be managed and controlled from Mauritius and be administered by a licensed management company.
Mauritian banks build global business onboarding around that management company. MCB’s global business unit cites its partnership with management companies and corporate service providers, and its checklist wants the registers of directors and shareholders certified by the management company’s representative, the registered agent or the company secretary. AfrAsia’s checklist for an international company asks for an Eligible Introducer Certificate and for key documents certified by the introducer, and its international banking team works through a network of international management companies.
MCB splits the process in two. A short screening file, the business plan, structure chart and owner details, goes to its onboarding committee, which normally decides within one business day; the full account opening pack follows, and MCB says account details are then provided within two business days. A company that already exists, one bought ready-made for example, adds its latest audited financial statements and its reason for approaching MCB. Accounts can be held in rupees, US dollars, sterling, euros, rand, Australian dollars and other currencies, and MCB notes that Authorised Companies may also hold rupee accounts.
Mauritius does have a working scheme. The Mauritius Deposit Insurance Scheme Act 2019 came into operation in two stages, on 15 December 2023 and on 14 June 2024 for the fund and compensation provisions, and the scheme is run by the Mauritius Deposit Insurance Corporation Ltd with every bank as a member. Cover is Rs 300,000 per insured depositor per bank. The Act, however, defines a depositor as an individual whose principal place of residence is in Mauritius, so a Global Business Company is outside it, and so is a foreign owner holding money personally.
Mauritius is not in the SEPA area, so euro payments travel by SWIFT through correspondent banks; MCB cites a network of more than 1,200. The fintech accounts that serve European companies do not fill the gap here: Airwallex does not list Mauritius as a country of registration, Mauritius is not on Wise’s list of places where money can be held, Revolut Business needs a UK, EEA or US company and Mercury a US one.
Pre-banked shelf companies are not readily available in Mauritius, as in most offshore jurisdictions of the Indian Ocean and the Caribbean. Where a company you acquire already holds an account, the account is the company’s and continues after the sale, but the bank revisits its due diligence on the new owners, directors and signatories and may retain the account, require more documents or close it; MCB treats such a company as an existing structure.
Should you need one, we can form a new Mauritius company or locate a ready-made Mauritius company, and work with you and the management company on the bank file. Should we have a working contact at a bank that suits your activity, we will introduce the file; the bank decides, and approval cannot be promised. Read more on our Mauritius page and in the shelf company with bank account guide.
For a company, yes: foreign ownership is the normal profile of a Global Business Company, and banks such as MCB and AfrAsia publish checklists for it, including a bank reference and CV for non-resident owners. The application normally comes through the company’s management company, which certifies documents and acts as introducer. Personal accounts for non-residents are a separate question not covered here.
No bank is best for everyone; the Bank of Mauritius licenses 18. MCB runs a dedicated global business unit with a published two-stage onboarding and more than 1,200 correspondent banks, and AfrAsia works through a network of international management companies. Compare them on the currencies you need, where your counterparties bank, and which banks your management company can introduce you to.
No. The Mauritius Deposit Insurance Scheme, with its compensation provisions in force since 14 June 2024, covers up to Rs 300,000 per insured depositor per bank, but the Act limits depositors to individuals whose principal residence is in Mauritius. Companies, GBCs included, fall outside it, so the financial strength of the chosen bank carries more weight.
MCB is the bank that publishes a timetable: its onboarding committee normally decides within one business day on the business plan, structure chart and owner details, and once the complete account opening pack arrives it says account details follow within two business days. The time before that depends on how quickly certified documents, bank references and the business plan are ready.