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 the Commonwealth. The reason for this rapid growth has been the government’s insistence on a strong focus on foreign investment and as a result, today Mauritius boasts of more than 10,000 offshore companies registered there. The banking sector itself has generated more than a billion dollars so far with a major contributor being foreign investors. As with most other offshore banking location, it is the ease of access and reliability of the said operation in Mauritius that has lead to this banking boom. The banks over there, like the Hong Kong Bank Mauritius maintain stern security standards, and allow its customers the benefits of privacy and practice strict non disclosure of its customer’s tax information. There are a lot of benefits to opening a bank account in a jurisdiction like Mauritius. From low to zero taxes for non residents, a red tape-less culture and ease of operation, no exchange monitoring and a much larger freedom to move capital around. There is little to none restrictive banking legislation along with a stable yet flexible political system coupled with economic stability in the region. For those who value their privacy, Mauritius has no tax information exchange treaties with countries that tax their residents at a higher rate and owing to its past history of occupation, they have people who speak English, French, German and even Portuguese. As you can see, there were optimal conditions already in place for Mauritius to act as a tax haven for the rich and the famous. 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 best part is that the interest rate you earn on them is not subjected to any sort of a withholding tax. The huge range of facilities and services that the HSBC Mauritius provides to their customers are perfect for both the needs of individuals and trading 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 and investment banking, foreign exchange treasury and securities custody among others. When you are opening an account with HSBC Mauritius, you are essentially getting the advantage of a stable and non restrictive banking system with state of the art electronic access to it. What’s not to like about it?