Bank account and regulatory registration

Ducorp XTM
May 21, 2019 · 2 min read

The other interesting piece that I would like to share is the opening of a bank account for DX Team Ltd. Being a sole director and shareholder entity, I was assured by the staff at the bank that processing the bank account application for DX Team Ltd would be straight forward and the account would be opened in 48 hours.

Well, this was quite a bit of misspelling (if ever I can use that word without suing someone) because 48 hours later, we still had no bank account. In fact it was only after a few phone calls and chasers, about 5 weeks after the application was filled in (DX Team’s sole director and shareholder had to queue up for 1 hour at the bank to see someone who “helped” him fill in all the necessary paperwork) that the bank account was opened.

In my opinion, banks should speed up the bank account opening process if they want to be competitive on the world stage. There is a lot of drive to promote “ease of doing business” in Mauritius and if it takes 5 weeks to open a bank account, soon the new term might become “unease of doing business”.

Not all is bad though. I have to mention that the staff at the Data Protection Office was of tremendous help when I was filling in the application form for DX Team Ltd to act as a Data Controller. Once the application was submitted (I went there in person), it took about 30 mins for the paperwork to be verified and the application to be approved.

Maitre de Poonith was born in the Geronimo stage. It is great to be a able to have reached over 50,000 people locally through 4 different videos posted over 4 weeks. The aim of these videos is to show the audience that its ok to be yourselves and not fit in a box which has been predetermined by other people. We spend too much time thinking about how to impress other people and in doing so, we end up buying things we don’t need.

Maitre de Poonith doesn’t take himself seriously and goes about life with a dose of good humour and fun. The best comment I received was from a person who said that in this life of stress and constant competition to be better than the other person, she looks forward to my videos as they make her laugh. That was the best encouragement for me.

XTM; 2019.

First posted in X-Team Ventures.

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Ducorp XTM

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Seed-Stage VC targeting the technology sector in emerging markets. We unearth disruptors in hard-to-reach places and channel their work, anywhere.

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We share authentic creations by teams within the XTM Agency ecosystem. Our work as project managers for marketing-related tasks and remote teams exposes us to content and stories that deserve attention. Read about these real-life experiences at XTM+.