In Mauritius we work with HSBC and Barclays Bank PLC whilst in the Seychelles our banking partners are Barclays and Nouvobanq.
MCB Ltd, a subsidiary and the mainstay of MCB Group Ltd, is the longest-standing and leading banking institution in Mauritius while displaying an increasingly prominent foothold in the region. The Bank embraces an innovative culture, with significant progress made in upgrading its IT platform and developing its digital footprint. Furthermore, the Bank, which leverages a network of around 1,470 correspondent banks across the world, has diversified its activities in sub-Saharan Africa and beyond, as gauged by participation in major cross-border deals and transactions as well as the deployment of the ‘Bank of Banks’ initiative.
MCB Global Business is a dedicated business unit offering financial solutions designed to meet the needs of customers which include global business companies, funds, trusts and foundations.
Most Innovative Bank in Mauritius 2008
AfrAsia Bank Limited (www.afrasiabank.com) is a boutique financial services provider with the ability to tailor innovative banking solutions and investment products for both the local and international markets.
Headquartered in Mauritius with regional and international reach, AfrAsia Bank is part of one of the largest conglomerates of the country. With world-class strategic partners including JPMorgan and a passionate team of experienced bankers, the Bank offers customized solutions focusing on:
AfrAsia Bank makes a difference in the market by offering services that are mostly used by its clients at NO cost. Moreover, the Bank offers the following services:
With the establishment of a representative office in Cape Town, AfrAsia Bank is poised to become a reference point for International Banking, Corporate & Investment Banking and Private Banking Solutions linking Mauritius and the Africa-Asia trade corridor by being closer to those markets.
Bank One, formerly known as the First City Bank, has just undergone a major re-branding exercise. This follows the take-over of First City Bank by CIEL Investment Ltd (50%) and Investment & Mortgages Bank of Kenya Limited (50%). The Bank is a universal bank providing for all customers segments: Retail, Private, Corporate, SME, and International Banking.
The Bank is present in Mauritius (www.bankone.mu) through 13 branches and is quickly looking to become a Strong regional player.
The Bank has recruited a new, young but experienced Management Team. New employees with specific skills are being added as business keeps growing. With a visionary leadership team, and skilled personnel, the bank is well-poised for a great leap forward in the coming years.
Barclays Offshore Banking Unit in Mauritius (www.barclays.com) is a full branch of Barclays Bank Plc, United Kingdom. Barclays Offshore Banking Unit was established in 1989 and was the first Offshore Bank in Mauritius. Barclays Mauritius maintains around 2500 corporate and personal accounts. Services of the bank include currency, international inward and outward payments, multi-currency cheque books, interest bearing call accounts, foreign exchange and derivatives transactions, structured investments and custody services amongst others. Accounts can be held in any major currencies.
The Hong Kong Shanghai Banking Corporation, (www.asiapacific.hsbc.com), offshore Banking Unit, In Mauritius operates as a branch of the Hong Kong Shanghai Banking Limited and is a principal member of the HSBC Group. The HSBC Group has been operating in Mauritius since 1916 and currently has a network of 11 domestic branch offices and one Offshore Banking Unit. Services of the HSBC, Offshore Banking Unit, include personal banking, corporate and investment banking, trade finance, treasury and foreign exchange, electronic banking, cash management and securities custody as well as clearing services.
Many of our clients bank with Barclays (www.barclays.com) in the Isle of Man (www.offshorebanking.barclays.com) and in London. The Barclays Group has been a major force in commercial banking for over 300 years and can boast a strong credit rating and a worldwide reputation for its comprehensive range of services. Barclays has over 400 staff in the Isle of Man. In Luxembourg we work with Dexia Banque Internationale a Luxembourg SA (www.bil.lu – an excellent website!), this is a full service bank, its origins go back to 1865, with multi-national staff, specialising in meeting the needs of businesses for modern and confidential banking services. In Switzerland we work with a range of banks, including Union Bank of Switzerland.
Which Bank?
The name and location of the bank with which you wish your corporate account to be opened.
Type of Account
Details of the type of account you require such as currency (e.g. Sterling or US Dollar,) and the type of account (e.g. current or deposit).
Description of Company Activities
A detailed description of your company’s proposed trading activity, including:
To establish the identity and signature of directors, account signatories and beneficial owners you must provide a copy of a current valid full passport. Such copy must bear a photograph, a signature and the number and must be certified by:
In the case of Mauritius and Seychelles banks, a senior authorised officer of a reputable and recognised bank. In addition Seychelles banks require two passport photographs of each party.
In the case of Barclays Bank, a senior authorised officer of a reputable and recognised bank or an authorised officer from an OCRA Worldwide office. In the case of Dexia Banque Internationale a Luxembourg SA a notary public or an authorised officer from an OCRA Worldwide office.
The passport copy you send to us must be sent by mail or courier (not Fax) and it must bear the ORIGINAL signature of the person certifying the identity document; it must not be a copy.
Proof of Residential Address
To validate the home address of directors, account signatories and beneficial owners please provide one of the following, for each party:
In the case Mauritius and Seychelles banks, – original recent (not older than three months) credit card statement or three original utility bills (telephone, electricity etc.) showing the residential address.
Barclays Bank Isle of Man – original recent (not older than three months) credit card statement or three original utility bills (telephone, electricity etc.) showing the residential address. Barclays London – original recent (not older than three months) bank statement from a recognised bank or an original recent (not older than three months) credit card bill showing the residential address. Dexia Banque Internationale a Luxembourg SA – Original recent (not older than three months) utility bill (telephone, electricity etc.) showing the residential address or an original recent (not older than three months) bank statement from a recognised bank or an original and recent (not older than three months) credit card statement showing the residential address or an original bank reference from a senior authorised officer of a reputable and recognised bank verifying the residential address. This may be addressed “to whom it may concern”.
The Proof of Identity and the Proof of Residential address may be faxed to us but the originals must be sent to us by courier or mail.
Please contact us if you have difficulty in producing these documents or require details of the type of verification of identity and residential address required by other banks.
References
All the banks require original bank references from the personal bankers of the directors, account signatories and beneficial owners.
Please contact our Banking Department to obtain details of the precise wording required on these references.
Your settlement of a fee note or, alternatively, authorisation for us to debit your credit card with our account establishment fee of and, depending upon your choice of bank, an initial deposit of typically USD 1,000 or USD 2,000.
This deposit may be paid by wire transfer payable to OCRA Mauritius for onwards transfer to your account once it has been opened, to:
Beneficiary Bank:
The Mauritius Commercial Bank Ltd
Sir William Newton Street
Port Louis
Mauritius
Swift: MCBLMUMU
Beneficiary:
OCRA (Mauritius) Limited
Account No: 0000 1168 9153
Alternatively, you may wish to raise a cheque for this deposit, made payable to your company, and send it to us.
Important Note
We would ask you to note that we are unable to establish a bank account prior to receipt of all the required documentation, payment of our fee note and opening deposit.
Established in 1975 and led by Bart Dekker and Dharmesh Naik, OCRA is one of the industry pioneers in the corporate services sector with a full suite of corporate services from company formation, company secretarial support, accounting, and HR services. Over the past 40 years, OCRA has become a truly global business by providing very personalised services to their clients, most of whom are private investors or companies investing abroad.
From its founding base in Europe, OCRA has morphed over the past decade to focus on the faster growing markets of Asia and the Indian Ocean, and currently has teams in Hong Kong, Shanghai, Singapore, Mauritius and the Seychelles with around 80 staff. Additionally, OCRA is licensed in Samoa and the UAE to provide incorporation services to clients and referral partners.
"The high quality of the team, the interesting gateway jurisdictions of Mauritius and UAE which are important investment hubs for Africa and India, and the synergy of offering OCRA clients more services and Asian locations for expanding their business were the strategic logic for Acclime's interest in acquiring OCRA," said Martin Crawford, CEO and Co-Founder of Acclime. "We look forward to introducing OCRA’s corporate clients to our regional experts in China, Hong Kong, Australia, Cambodia, Indonesia, Malaysia, Thailand, India, Philippines, Singapore and Vietnam," he added.
The sale of the business was managed by the corporate advisory team of Mazars in London (Paul Joyce & Fred Dearden), acting for the ultimate shareholder of OCRA, and was opened for bids. "Acclime was chosen as the preferred bidder as the team recognised the cultural similarities, with high quality, personalised services at the core," said Bart Dekker, OCRA’s Managing Director, Asia Pacific. Dharmesh Naik, OCRA's Managing Director, Middle East and Indian Ocean, added, "We are excited and delighted to become an integral part of a large international team with the established resources across Acclime's network, and to execute the transaction in line with OCRA's long term succession plan in the interest of all of our stakeholders."
OCRA will operate as an independent business unit within Acclime, supported by funding, IT and marketing initiatives that will grow the business further. Bart Dekker and Dharmesh Naik will remain running the business post-acquisition.
The transaction is subjected to regulatory approvals in several locations and Acclime is expected to complete the acquisition by the end of 2022.
About OCRA
Established in 1975, OCRA is one of the industry pioneers in the corporate services sector with a full suite of corporate services from company formation, company secretarial support, accounting and HR services. For over 40 years, OCRA has been providing personalised services to its clients, most of whom are private investors or companies investing abroad.
About Acclime
Acclime, the premier corporate services provider in Asia, helps corporate and private clients to advance their businesses and interests in difficult-to-navigate markets in emerging Asia. The company’s vision is to reinvent the corporate services sector with innovative solutions that are seamlessly delivered to the highest global standards.
Enquiries: enquiries@ocra.com