New EU rule starting 2027: Will your foreign account become a problem?
What CRD VI means for Germans with a bank account in Mauritius – and why foreign accounts are still not banned.
Will foreign bank accounts be banned starting in 2027? Does a German citizen have to close their bank account in Mauritius? And will a bank in Mauritius even be allowed to open accounts for people residing in Germany in the future? These are precisely the questions this article addresses.
The most important points in 60 seconds
If you only want to understand the most important points, these six answers are enough:
Will foreign bank accounts be banned starting in 2027?
No. Even after January 11, 2027, individuals residing in Germany are generally allowed to hold a bank account in Mauritius or in another non-EU country.
The new EU Capital Requirements Directive (CRD VI) does not contain a ban for private individuals on holding a foreign bank account. The regulation is primarily aimed at third-country banks – meaning banks outside the European Union.
That is precisely why the headline „EU bans foreign accounts starting 2027“ is factually incorrect.
What is CRD VI anyway?
CRD VI is the short name for the Directive (EU) 2024/1619 .
Regarding the topic of foreign bank accounts, above all Article 21c Interesting. There, the EU regulates the conditions under which companies from third countries are allowed to provide certain banking services in a member state of the European Union.
From the EU perspective, Mauritius is considered a third country. Therefore, a bank in Mauritius generally falls under this regime if it intends to provide relevant banking services to clients with a corresponding EU connection.
What changes as of January 11, 2027?
Starting January 11, 2027, the new rules for so-called CRD third-country branches will apply in Germany. Germany has already incorporated the EU requirements into the Banking Act.
In this regard, what is particularly decisive is Section 64c of the German Banking Act (KWG) .
Put simply, banks outside the EU can no longer easily provide certain traditional banking services in Germany unless a permissible structure or a relevant exception applies.
This particularly affects core banking services such as:
- Acceptance of deposits and other repayable funds,
- Credit transactions,
- Guarantees and similar commitments.
The classic bank account is therefore certainly of importance.
Why is July 11, 2026 so important?
This deadline is so important because Article 21c, paragraph 5 of the CRD VI provides special protection for existing contracts.
You can view the official EU directive here: CRD VI on EUR-Lex .
Contracts that were already concluded before July 11, 2026, shall not be affected by the new branch requirement.
This is particularly relevant for individuals with existing Mauritius accounts.
Do existing Mauritius accounts need to be closed?
No. CRD VI alone does not create an obligation to close an existing bank account in Mauritius.
An account that already existed prior to July 11, 2026, additionally benefits from the explicit grandfathering provisions of the EU directive.
However, an account opened later does not become illegal solely because new rules will apply in 2027. Rather, the decisive factor will be the basis on which the account was opened and is maintained.
What does reverse solicitation mean?
Reverse solicitation is one of the most important terms in this entire discussion. Simplified, it means: The customer looks for the bank – not the bank the customer.
Article 21c explicitly provides for an exception if a customer approaches the third-country bank on their „own exclusive initiative“ — that is, solely on their own initiative.
This exception is particularly relevant when someone travels to Mauritius themselves, selects a bank there, and opens the account on their own initiative.
Recital 6 of the Directive is also particularly important. There, the EU makes it clear that the use of banking services outside the European Union should remain unaffected and that reverse solicitation can also cover the continuation of the originally requested service.
Here is the official source: Recital 6 and Article 21c on EUR-Lex .
Will a German still be allowed to open an account in Mauritius in 2027?
Basically yes – under certain conditions.
If a customer living in Germany decides on their own to open an account in Mauritius, searches for a suitable bank themselves, makes contact themselves, and actually uses the service in Mauritius, there is much to suggest that the reverse solicitation exception can play an important role.
However, what is important is that a later signature in Mauritius is not automatically sufficient if active acquisition took place in Germany beforehand.
Precisely for this reason, the actual sequence of events is crucial.
- Who initiated the business relationship?
- Who spoke to whom?
- Was the customer actively targeted with advertising within the EU?
- Or did the initiative actually come exclusively from the customer?
What applies to a residence permit or second home in Mauritius?
A clear distinction must be made here.
A residence permit in Mauritius can create a stronger local nexus. However, this does not automatically mean that CRD VI becomes completely irrelevant for that person.
What is crucial is not solely the nationality nor merely the presence of a second residence, but rather the specific EU connection of the customer.
Anyone who has actually emigrated to Mauritius and lives there is in a different situation than someone who continues to live predominantly in Germany and has their center of life there.
Four practical examples
Case 1: Account since 2025
A person lives in Germany and already opened an account in Mauritius in 2025. The contract was concluded before July 11, 2026. As a result, the transition rule for existing contracts generally applies.
Case 2: Account opening 2027 on own initiative
A person living in Germany gathers information independently, flies to Mauritius, and opens an account there on their own initiative. In this scenario, reverse solicitation is particularly relevant.
Case 3: Active advertising in Germany
A Mauritian bank or an intermediary acting on its behalf actively approaches customers in Germany. One should not simply rely on reverse solicitation here.
Case 4: German emigrated to Mauritius
Anyone who actually lives permanently on Mauritius is in a different regulatory situation than someone with a strong EU connection.
Taxes and CRS: Does a Mauritius account remain invisible?
No. A foreign bank account is not automatically invisible.
Mauritius participates in the Common Reporting Standard – CRS for short. The Mauritius Revenue Authority explicitly lists Germany as a Reportable Jurisdiction for the 2026 reporting year.
Official source: Mauritius Revenue Authority – CRS Reportable Jurisdictions .
In addition, the Federal Central Tax Office explains how the automatic exchange of information on financial accounts works: BZSt – CRS and automatic exchange of information .
Anyone who has unlimited tax liability in Germany must also check which foreign capital gains are relevant for tax purposes.
In particular, these legal bases are relevant for this purpose:
Frequently asked questions about CRD VI and foreign accounts from 2027
Will foreign bank accounts be banned starting in 2027?
No. The EU does not prohibit private individuals from owning an account outside the European Union.
Do I need to close my existing Mauritius account in 2027?
No. Solely on the basis of CRD VI, there is no general obligation to close.
Is a German citizen still allowed to own a bank account in Mauritius?
Basically yes.
Why is July 11, 2026 so important?
Because this deadline is mentioned in Article 21c, paragraph 5 for the grandfathering of existing contracts.
What does reverse solicitation mean?
The customer approaches the third-country bank entirely on their own initiative.
Is a signature alone sufficient in Mauritius?
No. What is crucial is the entire process and, in particular, who actually initiated the business relationship.
Is a residence permit in Mauritius automatically sufficient?
Not automatically. It depends on the actual circumstances.
Is Mauritius part of the CRS system?
Yes.
Can a Mauritian bank still reject German customers?
Yes. Banks can establish their own compliance and customer acceptance policies.
Is opening a bank account in Mauritius becoming more difficult for EU residents?
That is entirely possible. That is precisely where the practical relevance of CRD VI lies.
Conclusion: No ban – but new rules of the game for banks
The statement „The EU is banning foreign bank accounts starting in 2027“ is false.
Rather, the case is: From January 11, 2027, the rules for third-country banks will be tightened if they wish to provide certain traditional banking services to clients with a corresponding EU nexus.
For people with a bank account in Mauritius, this mainly means:
- Foreign accounts generally remain permitted.
- Existing accounts do not automatically need to be closed.
- Contracts concluded before July 11, 2026, enjoy special grandfathering protection.
- The customer's initiative remains a key exception.
- Banks could take a much closer look at EU customers in the future.
- Taxes and CRS remain unaffected by this.
That is precisely why it is worth not falling for alarmist headlines, but rather examining one's own situation properly.
Official sources and legal bases
Are you planning a bank account in Mauritius?
If you want to open an account in Mauritius, it is not just about choosing the bank. Residency status, domicile, KYC documents, and the specific procedure can play an important role.
If you would like support with preparation and orientation in Mauritius, you can find out more here:
Learn moreNote: This article is for general information and does not replace individual legal or tax advice. Practical implementation may vary depending on the bank and the individual case.
