Overview

• Bank One Limited is a commercial bank in Mauritius jointly owned by CIEL Finance Ltd and I&M Group Plc, giving it strong regional links across sub-Saharan Africa. Headquartered in Port Louis, the bank operates 16 branches and serves over 50,000 customers. Established in its current form in 2008, it offers a full range of services including personal, corporate, international, and private banking, as well as treasury and FX solutions. Bank One is known for its cross-border capabilities, especially in offshore and wealth management services. It holds assets of over MUR 57 billion and is rated BB‑ (Stable) by Fitch Ratings. The bank continues to expand its digital banking platform and has received recognition for innovation in e-commerce and risk management.

Services Offered

Account Types:

• Personal and Business Accounts

Currencies Supported:

• EUR, USD, GBP, and others

Banking Services:

• Current and Savings Accounts
• Fixed Deposits and Notice Accounts
• Debit and Credit Cards (Visa and Mastercard)
• Online and Mobile Banking (via 1bank and BoC Mobile App)
• Loans: Personal, Housing, and Business Loans
• Investment Services:
  • Equities, Bonds, ETFs, Foreign Exchange (FX), Commodities, Structured Products
• Insurance Services:
  • Through Eurolife and General Insurance of Cyprus
• Merchant Services and Payment Solutions
• Private and Affluent Banking Services

Required Documentation for Bank Account Opening

A. Personal Account

As part of the individual account opening form, the following are required

• Completed personal account application (includes FATCA/CRS tax declarations)
• Valid passport (or national ID)
• Proof of address (utility bill or bank statement)
• Bank reference or professional reference
• Curriculum vitae (CV)
• For foreign residents: residence/work permit

B. Corporate / GBC Account (Mauritian or Foreign Entities)

(Based on official Bank One Corporate Account Opening Checklist)

Mandatory documents:

• Completed account opening pack and forms (account form, signature card, internet banking, CRS & FATCA, UBO and source-of-wealth declarations, etc.)
• Certificate of Incorporation (or e-certificate) and Certificate of Name Change (if applicable)
• Memorandum & Articles of Association
• Business/Global Business License and annual FSC receipts
• Certificate of Good Standing or Incumbency (for companies >1 year old)
• Proof of registered and mailing address
• Board resolution authorizing account opening and company signatories
• Registers of Directors and Shareholders (dated within 12 months)
• Ultimate Beneficial Owner (UBO) declaration form
• Source-of-wealth and source-of-funds documentation
• Latest audited financial statements (if company is >18 months old)

KYC documents for signatories, directors, UBOs (≥ 20%):

• Valid passport or national ID
• Proof of address (e.g., utility bill, not older than 3 months)
• Bank or professional reference letter
• Detailed CV

Notes & Requirements

• All documents must be certified true copies or originals, signed and dated by authorized professionals (e.g., notaries, lawyers), and may require apostille 
• Additional documentation may be requested depending on the risk profile and the complexity of the account.

Account Opening Process

1. Submit Required Documents
    ● Complete the account opening application and FATCA/CRS forms
   ● Provide certified KYC documents (e.g. passport, proof of address, company docs if corporate)
   ● For corporate/offshore: Include business license, board resolution, shareholder/UBO details, etc.
2. Compliance & Risk Review
    ● Bank One conducts due diligence, AML screening, and UBO verification
   ● Additional documents may be requested depending on the profile
3. Approval & Account Setup
    ● Once approved, you receive the account number, online banking credentials, and activation details
   ● Timelines:
   – Personal/Local Accounts: ~3–5 working days
   – Corporate/Offshore Accounts: ~1–3 weeks, depending on complexity
4. Initial Funding
    ● Deposit the minimum opening balance as required (varies by account type)
5. Start Using Account
    ● Access internet/mobile banking, debit/credit cards, and optional treasury or investment services

Account Opening Summary