Business accounts: Mauritius

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

Mauritius is an Indian Ocean financial centre through which companies work with Africa and Asia. Banks are supervised by the Bank of Mauritius, and international business companies are licensed by the Financial Services Commission. A Mauritian account matters most for Global Business Companies: their principal bank account in Mauritius is one of the signs of management from the island that the Commission considers. Below: who needs an account, what the bank checks and how it relates to the company's taxes.

Who needs an account in Mauritius

• Global Business Companies. When deciding whether a company is managed from Mauritius, the Financial Services Commission considers, among other things, whether it has at least two resident directors and its principal bank account on the island.
• Authorised Companies working with African and Asian partners.
• Individuals moving to Mauritius or holding property there.

Company taxes and the account

Corporate income tax in Mauritius is 15%. Certain income is 80% exempt, some 95%, if the company meets substance conditions, giving an effective rate of 3%. Exporters of goods pay 3%. Substance is shown by directors, an office, spending on the island and a Mauritian bank account, so the account directly affects taxes. More in company registration in Mauritius.

What the bank checks

• the Financial Services Commission licence and constitutional documents;
• beneficial owners, directors and their passports;
• the business plan, counterparties and payment countries;
• the source of funds.

Why applications are refused

• the company has no real presence in Mauritius;
• an opaque ownership structure;
• links to sanctioned countries;
• activity the bank considers high risk.

Documents

• the Financial Services Commission licence and constitutional documents;
• passports and proof of address of directors and beneficial owners;
• an ownership chart;
• a business plan with counterparties and payment countries;
• proof of source of funds.

How the account opening works

1. Profile. We assess whether the account is needed as part of island substance or for payments.
2. Bank. We choose a bank for the currencies and payment countries.
3. File. We prepare the documents and business description.
4. Review. We answer the bank's questions and arrange the meeting with directors.
5. Opening. The bank opens the account, which becomes part of the company's presence in Mauritius.

Personal account

For individuals moving to Mauritius as remote workers or on a residence permit, banks open accounts with a verified address, income and source of funds. More on our Mauritius residence page.

VAT and new levies since 2025

From 1 July 2025 the mandatory VAT registration threshold was lowered from Rs 6 million to Rs 3 million of annual turnover, about $62,380 at the 5 October 2026 rate, rounded up; the VAT rate is 15%. Companies with chargeable income above Rs 24 million a year, about $499,000, pay an additional contribution from 1 July 2025 to 30 June 2028: 5% of chargeable income if taxed at 15% and 2% if taxed at 3%. In addition, companies with turnover above Rs 50 million, about $1.04 million, pay a climate levy of 2% of chargeable income. We factor these payments into the calculation before opening the account: the bank will compare them with the company's accounts.

A global business company's accounts are audited and filed with the Financial Services Commission within 6 months of the financial year end, so the flow of money through the Mauritian account must match the accounts.

What we do

We choose the bank, prepare the file with the licence, business plan and owner details, handle the application until the decision and help build presence on the island. A manager will calculate the cost in the chat.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · Country taxes · All country programs

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