Mauritius Offshore Bank Account Opened Remotely: Corporate or Personal
Would you like to open an offshore bank account in Mauritius? in a major bank, remotely … without having to travel? This account is a private banking account that is also available to trusts and companies and is crypto-friendly, with low minimum opening deposit requirements.
One of the key advantages of private banking is flexibility. As you probably know, private banking is the VIP division of the bank, dealing with the best offshore banking clients. Private bankers, therefore, take more time to understand their clients’ needs and tailor services to suit them.
Fees for private banking are normally higher than for regular retail banking accounts. Also, in turn, fees for offshore private banking in Mauritius are higher than for their onshore equivalents. But, like everything else in offshore private banking, they are negotiable. And it often makes sense to pay higher fees for a product or service that actually works smoothly!
It is in the spirit of flexibility and excellent personal service that we are updating our blog today with details of a particularly good Mauritius offshore bank account offer that came our way recently.
This type of offshore account is opened in the Private Banking division of a large bank on the secure offshore island of Mauritius. It also comes with an elite black credit card. This is a real credit card, with no spending limits provided you stay within your agreed monthly credit limit.
- Private Banking Account. It can be opened in any individual name, or in a corporate name. Note: it is intended as an investment account, not for commercial banking transactions. It is not therefore suitable for high volume wire transfers. However, if your company fits a typical “consulting” profile whereby you just issue one or two invoices a month to one or two clients, that is allowed.
- The account can be opened with a trust. For example, a Nevis trust + underlying LLC asset protection structure would fit this account nicely.
- There are no restrictions on the citizenship of clients, except sanctioned countries. USA or Russia, China or Mexico – all are accepted.
- Crypto investment as a source of funds is no problem, provided it is properly documented. The only thing is that you have to exchange the crypto somewhere else before the funds hit Mauritius. But there is no problem wiring to or from crypto exchangers provided everything is properly documented. Of course, our consultants can advise on the best way to document your transactions.
What about the requirements to qualify for this account?
You must simply qualify under ONE of the following three routes:
- Monthly Salary above USD 10,000 (individual) or USD 15,000 (joint husband and wife account) USD 15,000 – this salary should be deposited into the account. If it’s consulting fees rather than a salary, that’s fine too.
- Fixed Deposit/Investment/other deposits: minimum USD 400,000
- Loan: greater than USD 400,000
We’ve found the bank is quite flexible on these requirements if you explain what you need and seem to be a good fit. For example, maybe you could make up the USD 400,000 minimum partly with an investment in the bank, then partly with a loan secured by that investment. Or you could deposit USD 100,000 savings and then commit to deposit a certain amount each month. Private banking, as we said, is about flexibility. The ultimate decision on whether to accept you rests with the bank, but of course if you don’t ask you’ll never know!
What about the Credit Card?
Many offshore banks these days only offer debit cards. While debit cards are good to an extent, world travellers need to have a proper credit card in their wallets. This credit card can be issued in USD or EUR, for the very reasonable fee of USD 110 ir EUR 95 per year.
This offer is for a World Elite Mastercard that comes with multiple benefits associated with top-of-the-range credit cards, including:
- Travel benefits such as airport lounge access via LoungeKey and instant status upgrades in hotel guest programs and Qatar Airways frequent flyer program.
- Concierge services
- Travel benefits such as emergency medical insurance and worldwide Collision Damage Waiver (CDW) on car rentals
- “Card always working” benefit, meaning MasterCard will automatically approve transactions if there is a problem with connection to the card issuer’s server.
- Emergency cash advance if card is lost or stolen.
Access to Brokerage Services
One service this Mauritius offshore bank account does not offer is online trading or brokerage for your stocks, shares, funds, ETFs etc. However, orders can be placed with a quick phone call, and the trading desk team in Mauritius works shifts to cover different markets around the world.
Open your Mauritius Offshore Bank Account Today!
The next step is simply to contact Offshore Pro Group and arrange a no-obligation consultation (written or via Zoom) with one of our consultants to see if this account is suitable for you. Our pro experts will be able to answer your questions and advise on documentation requirements.
Our service is fee based. Exact fees depend on your requirements, but start from around USD 1,500 for personal bank account opening. We also offer discounts if you set up a complete structure using our incorporation and business services.
Although of course you can open this Mauritius bank account as an individual or joint account, the best way to take full advantage of it is to set up a complete, long term offshore asset protection structure that will be best positioned to protect what is rightfully yours in the years ahead. Our consultants can also advise on residency and citizenship matters that you might like to consider before finalizing your Mauritius bank account application.
Contact us today!