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Mauritius Banking License

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Mauritius Banking Licence and Bank of Mauritius Regulatory Requirements

The Bank of Mauritius (BOM) supervises all banking institutions under the Banking Act 2004. Mauritius is an OECD-compliant jurisdiction and the leading financial services hub in Africa, offering political stability, a strong legal system based on English and French law, and a treaty network covering more than 45 countries including India, China, and most of sub-Saharan Africa.

The Banking Act distinguishes between Category 1 banks authorised to conduct both domestic and international banking business, and non-bank deposit-taking institutions for more limited activities. The BOM also supervises specialised institutions such as foreign currency banks targeting international markets.

Minimum Stated Capital

MUR 200 million (approximately USD 4.5 million) minimum stated capital for a Category 1 banking licence. The BOM may require additional capital depending on the business plan and risk profile.

Board Composition

At least two executive directors and two independent non-executive directors are required. All directors and senior officers undergo BOM fit and proper vetting covering integrity, competence, and financial soundness.

Business Plan and Financial Projections

A detailed three-year business plan including capital adequacy projections, stress testing, funding strategy, and target market analysis is required with the application.

Physical Presence

A registered office and management presence in Mauritius is required. The BOM expects substantive operational activity rather than a nominal corporate registration.

AML/CFT Compliance

Compliance with BOM guidelines on corporate governance, risk management, and anti-money laundering measures is mandatory. Mauritius follows FATF recommendations and is subject to regular mutual evaluation reviews.

Tax Advantages of a Mauritius Banking Licence

Mauritius has a corporate tax rate of 15% with a partial exemption regime that can reduce the effective rate to 3% on certain foreign-source income. There is no withholding tax on dividends paid to non-resident shareholders. Access to the India-Mauritius tax treaty has historically made Mauritius a primary routing jurisdiction for investments into India and East Africa.

Neptune Fiduciaries: Mauritius Banking Licence Support

Neptune Fiduciaries supports clients seeking Mauritius banking licences with application preparation, BOM regulatory liaison, management vetting coordination, and post-authorisation compliance monitoring through our African operations network.

Get in Touch

Contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com or visit our Contact Us page.

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