Lighthouse Mauritius / Banks in Mauritius
🇲🇺 Banking · Bank of Mauritius regulated · Multi-currency
Which banks operate in Mauritius, which of them work with Global Business Companies, how the account opening runs, which documents the bank will ask for and how long it really takes. Written from the practice of setting up and banking Mauritius structures.
Overview
All commercial banks in Mauritius are licensed and supervised by the Bank of Mauritius, the country's central bank. According to its list of licensees, 18 banks held a banking licence in October 2026: domestic banking groups, banks specialised in international and global business clients, and subsidiaries of African, Indian and international banking groups. These are the banks most relevant for international companies:
| Bank | Profile | Typically a fit for |
|---|---|---|
| MCB The Mauritius Commercial Bank | Founded 1838, part of MCB Group. Extensive local branch network, active in trade finance and regional banking across Africa. | Operating companies, trade flows, clients who want the leading domestic bank |
| SBM Bank SBM Bank (Mauritius) Ltd | Domestic bank, part of SBM Holdings. Full retail and corporate offering with a dedicated global business segment. | Holding and operating GBCs, local MUR payments |
| AfrAsia Bank | Private and international bank with a strong focus on global business, private banking and cross-border clients. | Investment holdings, private wealth structures, multi-currency needs |
| Absa Bank (Mauritius) | Subsidiary of the South African Absa Group (formerly Barclays Mauritius). Corporate, investment and wealth banking. | Structures with links to South Africa and the wider continent |
| Bank One | Mid-sized bank with an emphasis on international banking and sub-Saharan Africa. | Africa-focused holdings and trading companies |
| Standard Bank (Mauritius) | Subsidiary of the South African Standard Bank Group, focused on corporate, investment and wealth banking. | Larger transactions, Africa investment platforms, funds |
| MauBank | State-owned domestic bank with retail and SME focus. | Smaller local operations, MUR banking |
| ABC Banking Corporation | Domestic bank with a growing corporate and international offering. | Trading and service companies |
There is no single best bank for every Global Business Company. The right bank is the one whose current risk appetite matches your structure. We compare banks on these criteria:
Based on these points, we shortlist one or two banks before the file is prepared, rather than applying to several banks at once.
Why bank in Mauritius
For a Global Business Company the Mauritius account is not optional, but it is also an advantage: Mauritian banks are used to international structures, cross-border payments and multi-currency business.
Corporate accounts are commonly held in USD, EUR, GBP and MUR; which further currencies are available depends on the bank. Mauritius does not operate exchange controls, so funds can be moved in and out freely.
Banks are licensed under the Banking Act 2004 and supervised by the Bank of Mauritius. Mauritius applies FATF standards and participates in the OECD Common Reporting Standard (CRS).
Holding the principal bank account in Mauritius is one of the core substance requirements for a GBC. It supports tax residence, the Tax Residency Certificate (TRC) and access to Mauritius' 45+ double tax treaties.
Banks work through the licensed management company that administers the GBC. With a complete, properly certified file, account opening can often be handled remotely, with a video call instead of a trip to Port Louis.
Account opening for a GBC
In Mauritius, banks do not take on global business clients cold. The introduction comes through the management company that incorporated and administers the company, which has already completed its own due diligence on the beneficial owners.
Based on activity, countries involved, expected volumes and currencies, we shortlist the banks whose current risk appetite matches your structure.
Corporate documents of the GBC plus the KYC file of directors, shareholders and beneficial owners, including source of funds and source of wealth.
The management company submits the file. The bank's compliance team reviews it, asks follow-up questions and usually holds a video call with the beneficial owner.
After approval: signed mandate, internet banking access, first deposit. The company is now ready for payments in all agreed currencies.
The bank account is opened after the GBC has been incorporated with the Registrar of Companies and has received its Global Business Licence from the Financial Services Commission (FSC). Preparation of the banking file can start in parallel with the licence application, which saves several weeks.
Mauritian banks focus on three questions: who is behind the company, where the money comes from, and whether the planned business is plausible. A short but concrete business description with expected counterparties, countries, monthly volumes and currencies speeds up approval considerably. Vague descriptions such as "international trading" or "consulting" are the most common reason for delays.
An Authorised Company is not tax resident in Mauritius and is not required to bank there. It may open its account in Mauritius or abroad. In practice, many banks treat Authorised Companies more cautiously than GBCs, because the company has no substance in Mauritius.
Requirements
Exact requirements vary from bank to bank. This is the standard file Mauritian banks ask for when a GBC opens its corporate account. Personal documents usually need to be certified (notary, lawyer or the management company) and in some cases apostilled.
FAQ
Read next
Contact
Tell us briefly about your planned structure and business. We will tell you which banks are realistic for your profile and which documents you need. The initial consultation is free and without obligation, in English or German.