Forming a Mauritius Global Business Company (GBC) is only half the journey. The other half — and often the more challenging part — is opening a corporate bank account. Here's a practical, NRI-focused guide to banking in Mauritius in 2025.
Why Banking Matters for Your Mauritius GBC
A Mauritius company without a functional bank account is a shell. To receive payments, hold investments, and repatriate funds, you need a fully operational corporate account with a reputable Mauritius bank. The good news: Mauritius has a sophisticated banking sector with strong correspondent banking relationships globally.
Top Banks for Mauritius GBC Accounts
AfrAsia Bank
AfrAsia is the preferred choice for NRI and India-linked structures. It has deep expertise in cross-border transactions between Mauritius, India, and Africa. AfrAsia offers multi-currency accounts, online banking, and a dedicated relationship manager for GBC clients. Account opening timeline: 4–6 weeks.
SBM Bank (State Bank of Mauritius)
SBM is Mauritius's largest bank by assets and has a strong presence in India (SBM Bank India). For NRIs with existing SBM India relationships, this can simplify the account opening process. SBM offers competitive FX rates and robust trade finance facilities. Timeline: 4–6 weeks.
MCB (Mauritius Commercial Bank)
MCB is the oldest and most established bank in Mauritius, with strong Africa and Indian Ocean connectivity. Preferred for clients with Africa-facing business interests. Timeline: 6–8 weeks.
KYC Documents Required
- Certified copy of passport (all directors and beneficial owners)
- Proof of residential address (utility bill or bank statement, not older than 3 months)
- Source of funds declaration with supporting evidence
- Business plan and description of anticipated transactions
- Certificate of Incorporation and Constitution
- FSC licence (for GBC)
- UBO (Ultimate Beneficial Owner) declaration
- Bank reference letter (from your existing bank)
Common Reasons for Account Rejection
- Insufficient source of funds documentation
- Vague or generic business plan
- High-risk business activities (crypto, arms, gambling)
- Politically Exposed Person (PEP) status without adequate explanation
- Incomplete KYC package
Blueberry's Banking Introduction Service
Blueberry works with licensed Mauritius management companies and has established relationships with AfrAsia, SBM, and MCB. We prepare your KYC package, draft your business plan, and make a warm introduction to the bank — significantly improving your approval odds and reducing timeline.
Our Mauritius formation package includes banking introduction →
Also read: Complete Guide to Company Formation in Mauritius | What is a Mauritius GBC? | Why NRIs Should Form a Company in Mauritius