Mauritius, the island nation that is located in the Indian Ocean, has fast emerged as a hot spot of financial activities with numerous individuals and companies, especially those who function out of surrounding countries, choosing it to open offshore bank accounts in.
This is truly remarkable for a country that became a republic only in 1992 and now is a part of the︀ Commonwealth. The reason for this rapid growth has been the government’s insistence on a strong︁ focus on foreign investment and as a result, today Mauritius boasts of more than 20,000︂ offshore companies registered there. The banking sector itself has generated more than a billion dollars︃ so far with a major contributor being foreign investors.
As with most other offshore banking︄ location, it is the ease of access and reliability of the said operation in Mauritius︅ that has lead to this banking boom. The banks over there, like the Hong Kong︆ Bank Mauritius maintain stern security standards, and allow its customers the benefits of privacy and︇ practice strict non disclosure of its customer’s tax information.
However, privacy is now balanced with︈ international compliance standards, including anti-money laundering (AML) and tax information exchange agreements.
There are a︉ lot of benefits to opening a bank account in a jurisdiction like Mauritius. From low︊ to zero taxes for non residents, a red tape-less culture and ease of operation, no︋ exchange monitoring and a much larger freedom to move capital around. There is little to︌ none restrictive banking legislation along with a stable yet flexible political system coupled with economic︍ stability in the region.
Previously, Mauritius had no tax information exchange treaties with countries that︎ tax their residents at a higher rate and owing to its past history of occupation.️ Today, Mauritius is a signatory to the OECD Common Reporting Standard (CRS) and has entered into numerous tax information exchange agreements (TIEAs) and double taxation avoidance agreements (DTAAs) with over 140 jurisdictions, including the US and EU member states.
Hong Kong Bank Mauritius
Hong Kong Bank Mauritius or HSBC bank’s operation in the island country is one of the most stable as well competitive one in place. The bank’s operation in Mauritius allows customers to open high yielding personal as well as business accounts in all major currencies, with interest rates in a tiered structure that are adjusted based on economic conditions periodically. The best︀ part is that the interest rate you earn on them is not subjected to any︁ sort of a withholding tax.
The huge range of facilities and services that the HSBC︂ Mauritius provides to their customers are perfect for both the needs of individuals and trading︃ companies and range from capital finance to cross border loans, short term and long
term.
Other services include personal banking, clearing services, trade finance, electronic banking, cash management, corporate and︄ investment banking, foreign exchange treasury and securities custody among others.
When you are opening an︅ account with HSBC Mauritius, you are essentially getting the advantage of a stable and non︆ restrictive banking system with state of the art electronic access to it. What’s not to︇ like about it?
This is truly remarkable for a country that became a republic only in 1992 and now is a part of the︀ Commonwealth. The reason for this rapid growth has been the government’s insistence on a strong︁ focus on foreign investment and as a result, today Mauritius boasts of more than 20,000︂ offshore companies registered there. The banking sector itself has generated more than a billion dollars︃ so far with a major contributor being foreign investors.
As with most other offshore banking︄ location, it is the ease of access and reliability of the said operation in Mauritius︅ that has lead to this banking boom. The banks over there, like the Hong Kong︆ Bank Mauritius maintain stern security standards, and allow its customers the benefits of privacy and︇ practice strict non disclosure of its customer’s tax information.
However, privacy is now balanced with︈ international compliance standards, including anti-money laundering (AML) and tax information exchange agreements.
There are a︉ lot of benefits to opening a bank account in a jurisdiction like Mauritius. From low︊ to zero taxes for non residents, a red tape-less culture and ease of operation, no︋ exchange monitoring and a much larger freedom to move capital around. There is little to︌ none restrictive banking legislation along with a stable yet flexible political system coupled with economic︍ stability in the region.
Previously, Mauritius had no tax information exchange treaties with countries that︎ tax their residents at a higher rate and owing to its past history of occupation.️ Today, Mauritius is a signatory to the OECD Common Reporting Standard (CRS) and has entered into numerous tax information exchange agreements (TIEAs) and double taxation avoidance agreements (DTAAs) with over 140 jurisdictions, including the US and EU member states.
Hong Kong Bank Mauritius
Hong Kong Bank Mauritius or HSBC bank’s operation in the island country is one of the most stable as well competitive one in place. The bank’s operation in Mauritius allows customers to open high yielding personal as well as business accounts in all major currencies, with interest rates in a tiered structure that are adjusted based on economic conditions periodically. The best︀ part is that the interest rate you earn on them is not subjected to any︁ sort of a withholding tax.
The huge range of facilities and services that the HSBC︂ Mauritius provides to their customers are perfect for both the needs of individuals and trading︃ companies and range from capital finance to cross border loans, short term and long
term.
Other services include personal banking, clearing services, trade finance, electronic banking, cash management, corporate and︄ investment banking, foreign exchange treasury and securities custody among others.
When you are opening an︅ account with HSBC Mauritius, you are essentially getting the advantage of a stable and non︆ restrictive banking system with state of the art electronic access to it. What’s not to︇ like about it?
