ABC Banking Corporation

FACTS & INFO

• Requirements

  REQUIREMENTS FOR ACCOUNT SETUP:

  • Personal presence is not required; however, a Skype video call is mandatory between the bank and the client. The client should have their passport readily available for online verification.
  • Personal meeting with one of the members of New Company is required.
  • Reference letter to be validated by the bank.
  • Account opening Fee of $100 once approved.
  • A minimum balance and initial deposit of USD/EUR/GBP5000 is required to be deposited within a month of the day of account opening; account shall be automatically closed if not deposited.
  • US companies and citizens are accepted for account opening.
  • Accounts are activated within 3-5 business days (upon receipt by the bank of all duly completed forms and relevant information).

  PLEASE NOTE: Online businesses are not accepted.

  DOCUMENTS REQUIRED:

  For the Company:

  A set of legalised company documents consisting of:

  • Certificate of incorporation
  • Memorandum and articles of association
  • Documents confirming the appointment of company directors and secretary (if any)
  • Document confirming the location of the registered office
  • Share certificate(s)
  • Certificate of good standing if the company is more than 12 months old
  • Copy of the corporate structure, identifying the ultimate beneficial owner(s)
  • Valid license (if applicable)

  For each director, shareholder, secretary, authorised signatory and ultimate beneficial owner:

  • Notarized copy of a valid passport. The passport must be signed and the signature must match the signature in the application form. The photograph must be clear and of good quality.
  • Original or notarized copy of a utility bill / bank statement dated within 3 months as verification of residential address.
  • Original or notarized copy of a bank reference letter, dated within 3 months.
  • Power of attorney (where applicable).
  • Personal CV.

  For each corporate officer (where the company directors or shareholders are legal entities), please provide:

  A set of legalised company documents consisting of:

  • Copies of constitutional documents (certificate of incorporation, articles, etc.).
  • Copy of the corporate register (which shall include register of shareholders, directors and secretary).
  • Copy of the corporate structure.
  • Certificate of good standing.

  PLEASE NOTE: There is a list of restricted countries/regions/citizens/residents for account opening: Mexico, OFAC-listed countries, all CIS countries (including Russia, Ukraine, and Belarus), several EU countries (including Romania and Latvia), African countries, South America, and Balkan countries.

  • Documents that are not in English must be accompanied by a certified translation.
  • Once all documentation is available please email electronic copies to our representative for review; incomplete or unexecuted forms can create delays in the account opening process.

  IMPORTANT NOTE: LICENSABLE BUSINESS ACTIVITIES

  If you conduct any activity without the required license or authorisation granted by a relevant authority in any jurisdiction, New Company will not be able to assist you with the company formation or bank account opening related to such unlicensed activity.

  Licensable activities include, but are not limited to: provision of financial services involving trading/brokerage in foreign exchange, financial and commodity-based derivative instruments and other securities; offering investment advice to public; insurance and banking; operation and administration of collective investment schemes and mutual funds; payment processing services; money exchange, money transmission or money brokering; asset management; safe custody services; gaming, gambling and lotteries.

  Please contact us if you need assistance in the licensing of your financial, Forex brokerage or gambling company.

  SHIPPING COSTS

  Shipping of corporate documents or banking kits to your destination requires an extra charge and will be automatically added to your order during checkout. Shipping costs for international courier services are set automatically depending on geographic zones.

• About the Bank

  ABC Banking Corporation - the banking arm of the ABC Group - was first established in 1997 as a leasing company (the well-known ABC Finance & Leasing), and subsequently obtained its banking license in June 2010. It is the first leasing company in Mauritius to have successfully converted into a bank.

  It officially began operations as a commercial bank in December 2010, with a solid base of deposit and leasing portfolio. Ever since, the bank has prided itself on excellent service delivery, driven by innovation and operating on the most advanced banking technology platform in the market.

  ABC Banking Corporation currently offers a wide range of products and services, including current accounts, savings accounts, term deposits, leasing, housing loans and personal loans, term loans, and revolving credit, as well as trade finance services such as bank guarantee, letters of credit, import and export loans, and collection documents for import and export. In December 2011, it successfully launched its international debit MasterCard and internet banking services to ensure more service accessibility to its clients.

• Facilities

  WHAT ABC BANKING OFFERS:

  • Personal and corporate accounts
  • Internet banking
  • Phone banking
  • Debit MasterCard/UnionPay card
  • UPI Classic and Diamond card
  • Customer support in English and French
  • Accounts and cards in MUR and USD
  • Account allocation timeframe of 3 to 5 days (after the original documents have been received by the bank)

  BANK TARIFFS AND CHARGES

  ABC Banking Corporation can be considered as a low-cost bank with respect to incoming/outgoing payments and account maintenance. The bank charge for incoming payments is nil. The outgoing payment fee is US$50 (flat fee) excluding oversees bank charges. The monthly maintenance cost of a USD account is nil and is CHF50 for a CHF account (plus a deposit facility fee of 1% PA on credit balance). There is no charge for internet banking.

  PLEASE NOTE: Bank tariffs may be changed anytime at the sole discretion of the bank. Therefore, we suggest that you contact us or visit the bank’s website for updated details on specific fees and charges.

  The New Company professional service fee for the assistance of bank account opening does not include any bank charges and commissions, account maintenance fees, transaction fees, initial deposit, or minimum balance.