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Banking news - IBAN bank account outside EU




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Dear customer,

Fidelity Corporate Services can now assist you with the opening of non-EU individual and/or corporate IBAN bank accounts. Here is the main information about the bank and the jurisdiction:

Name of the bank:ABC Banking Corporation
Location:Mauritius
Website:www.abcbanking.mu
Types of accounts:individual and corporate
IBAN accounts:available (not very common outside EU!)
Account currencies:all major currencies including Chinese Yuan and Russian Ruble
Internet banking facility:transactional end of August
Payment cards (debit cards):Master card/Maestro/Cirrus
Minimum account balance:not required
Service tariffs:Published under “Fees & Charges” on the bank’s website (www.abcbanking.mu).

Country description. Mauritius is an independent and sovereign country located in the Indian Ocean approximately 800 km off the East Coast of Madagascar. It has a decent reputation as a location for international financial and corporate services, in particular offshore company and trust formation, banking and fiduciary services to international clients. The population of the Island is approximately 1,200,000 made up principally by people of European, African, Indian and Chinese origin.

Political structure. The British ruled Mauritius for 158 years until 12 March 1968 when it became an independent country within the Commonwealth. The Republic of Mauritius is a Westminster-style democracy. The President is the Head of State and Commander in Chief. Full executive power rests with the Prime Minister who is Head of Government. The Members of Parliament are elected every five years by popular vote and a number of political parties contest the elections, reflecting the country`s firm commitment to a multi-party political system.

Economy. Since independence in 1968, Mauritius has developed from a low income, agriculturally based economy to a middle-income diversified economy with growing industrial, financial, and tourism sectors. For most of the period, annual growth has been of the order of 5% to 6%. The government`s development strategy concentrates on foreign investment. Mauritius has attracted more than 20,000 offshore entities, many aimed at commerce in India and South Africa.

Type of Law. Common law.

Language. English (official) and French.

Mauritius Tax Information Exchange Agreements.

In Force:Australia, Denmark, Finland, Norway.
Signed:Faroe Island, Greenland, Iceland.
Awaiting signature:Greece, Guernsey, India, Isle of Man.

For more details about account opening procedures, please contact:

Ms. Liene Rebuka
Banking relations manager
E-mail: liene.rebuka@fidelitycorporate.com
Phone: +44 208 1237 880

Remaining yours,
Fidelity Corporate Services Team



Need Any Help? Call +44 208 1237 880

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