en | hu | ru | bg | ro | tr FacebookTwitterGoogle+LinkedInYouTubeInstagram
+ 357-24-636-919
+ 44-20-7556-0900
NEWS

Sign up for a free consultation
Subscribe to our newsletter
Request a return call
Downloadable brochures
Request a brochure
Newsletters
5 Minutes Offshore
Why LAVECO?
How to order a company from LAVECO Ltd
Latest news
Currency exchange rates: USD/1 unit
2018.05.28
HUF 0.0036
GBP 1.3337
CHF 1.0071
RUB 0.0161
HKD 0.1275
JPY 0.0091
CNY 0.1565
CAD 0.7718
AUD 0.7569
BRL 0.2744
EUR 1.1675

Short news and ideas

Mauritius Commercial Bank, Seychelles


10/12/2014

One of the OECD’s recommendations to the banks is that where possible they should open accounts for companies registered in the jurisdiction in which they operate. Although the Seychelles is an excellent company formation jurisdiction, its banking infrastructure leaves a little to be desired.

There are very few banks in the islands, and a number of those which are there only open accounts for local residents. The opening of accounts for resident companies with the local Barclays branch is a particularly slow and bureaucratic process.

It usually takes at least 3-4 months to open an account and the bank charges are rather high. The Mauritius Commercial Bank, on the other hand, one of the largest banks in Mauritius, is present in the Seychelles, and approaches the opening of accounts much more flexibly. Once they have checked the company documents, they invite the beneficial owner(s) for a personal interview, and then make their decision on the account application within 2-3 days.

The only inconvenience, then, is that you have to travel to the beautiful, idyllic Seychelles for a few days. Given that today numerous banks insist on having at least one personal meeting with the beneficial owner(s), this can hardly be considered an “extra” requirement. This is a small price to pay for a stable, smooth-running banking relationship outside the EU.

The local LAVECO Ltd. office provides comprehensive assistance in all areas, from hotel reservations to ordering taxis.

Top