Introduction

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One of the world’s freest economies (even more so than the United States), Mauritius banks have been on a roll as of late. After weathering their own domestic economic downturn, Mauritius banks expanded their overseas operations and kept their loan books in good condition. Non-performing loans have been in decline. As investment in Africa increases, especially from China, Mauritius will play a key role as an offshore financial center for money flowing onto the continent. Don’t let the western stereotypes about Africa fool you; Mauritius will play a role in offshore finance in years to come. It’s is also a good candidate for basing your offshore trust or even an offshore corporation.

ElegantInvest maintains relationships with more than thirty banks located in major international and offshore banking centres in Mauritius .Establishing and maintaining relationships with banks and administering client company bank accounts is complex, especially as the facilities offered by banks and their account opening and maintenance requirements regularly change. Consequently, ElegantInvest Mauritius employs specialist staff in its banking department who establish relationships with banks, open client company bank accounts and undertake transactions on behalf of clients.ElegantInvests’ Banking Department is able to advise on types of accounts available and details of banks accepting facsimile instructions, credit and debit cards, documentary credit services and online services.

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Our Banking Department is familiar with restrictions imposed by different banks; for example, many banks will not accept Eastern European clients, some demand larger initial deposits and ongoing balances whilst others will only accept investment accounts.

The majority of our clients request ElegantInvest to provide account signatories to their corporate bank accounts. The advantages of this arrangement include operational efficiency, a single point of contact and enhanced confidentiality. When OCRA Mauritius provides account signatories we will accept facsimile instructions to make transfers and advise on bank balances.

The fees charged for these services are modest and depend on volume and responsibility. Our Banking Department requires clients utilising these services to execute a simple banking indemnity and agreement.