Mauritius Crypto License
Mauritius offers a Virtual Asset Service Provider (VASP) License under its Virtual Asset and Initial Token Offering Services (VAITOS) Act 2021
ADVANTAGES
FinTech Hub
Mauritius is a leading fintech centre in Africa with a robust regulatory framework.
Fast Setup
Legal entities can be established within a few days with minimal bureaucratic delay. Licensing done fast and directly by our team.
Low Tax Jurisdiction
Businesses can benefit from Mauritius low tax rates and simplified tax administration.
Business-Friendly Environment
Company incorporation and licensing processes are streamlined, with government support for fintech innovation
WHY MAURITIUS?
Choosing Mauritius means operating under clear, modern regulations. The government actively encourages virtual asset businesses, providing incentives and a supportive fintech ecosystem. Because the VAITOS regime is FATF-aligned, companies gain high credibility, making cross-border partnerships and banking relationships easier.
REQUIREMENTS
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Company requirements
The applicant must be a company incorporated in Mauritius with substantial presence. This means a physical office in Mauritius, boards and management “directed and managed” locally, and (for certain licenses) a resident director. In practice: appoint a Compliance Officer (who must be approved by FSC) and often an independent director (at least 30% independent on board). Registration with tax authorities (TIN) and Data Protection Office is also required.
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License classes
Mauritius offers multiple VASP license types. Key categories (with minimum capital and fees):
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Class M (Broker-Dealer): Crypto-fiat exchange or crypto-to-crypto exchange. Minimum share capital MUR 2,000,000 (~€41,000). License fees: USD 1,000 application; USD 2,000 annual renewal.
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Class O (Wallet Service): Transfer of virtual assets (custodial wallets). Capital equal to 12 months of projected operating costs. Fees: USD 1,000 / USD 1,900.
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Class R (Custodian): Safekeeping of virtual assets. MUR 5,000,000 (~€103,000) capital. Fees: USD 1,500 / USD 2,500.
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Class S (Marketplace/Exchange): Operating a crypto exchange. MUR 6,500,000 (~€133,500) capital. Fees: USD 3,000 / USD 5,000.
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Class I (Advisory): VA advisory/issuance services. Working capital sufficient for 12 months. Fees: USD 3,000 / USD 5,000.
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ITO Issuer: For token issuers (no specific cap); annual fee USD 2,000.
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Documentation
The FSC requires a comprehensive application dossier, including:
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Certificate of Incorporation of the company.
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Detailed business plan and financial projections.
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Company organizational structure and management plan.
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Articles of Association and board/shareholder lists.
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Policies: AML/CFT, KYC/CDD procedure, confidentiality, cybersecurity, disaster recovery, complaints handling, etc.
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Manuals for AML/CFT, cybersecurity (ISO/IEC 27001), disaster recovery, custody of client assets.
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Proof of appointment of key persons: Board approval of application, Compliance Officer, Money Laundering Reporting Officer (MLRO) and Senior Executive Officer (these personnel must be FSC-approved).
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Technical compliance: network diagrams, software descriptions, IT infrastructure details. Domain ownership and security audit reports (penetration tests) are often required.
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KYC on directors/owners: certified passport copies, address proofs, CVs, police clearances.
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Capital and financial
As noted, specified minimum capital must be paid-up and evidenced by bank statements. The company must maintain solvency and audit its accounts annually. The FSC requires audited financial statements each year. A minimum paid-in capital injection into the company is also customary upon licensing.
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Fees: Besides incorporation costs, expect
(i) an FSC application fee (varies by class, typically USD 1–3k)
(ii) first-year license fee (same as renewal fee above), and
(iii) annual audit and maintenance fees. Consulting firms often charge additional professional fees (e.g. EUR 18,000 for assistance).
PROCEDURE
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Reserve Company Name
Obtain a name reservation for a Category 1 GBC1 and apply for FSC in-principle approval. Ensure your company plan demonstrates activity in Mauritius (e.g. local board meetings).
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Incorporate in Mauritius
Register a company and open a corporate bank account in Mauritius. Ensure local office space and governance (board, officers) meet FSC requirements.
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Appoint Key Management
Recruit your Mauritian resident directors and senior officers (e.g. CEO, MLRO, Independent Director) with proven crypto experience. Submit their credentials for FSC approval.
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Setup InfrastructureEstablish a Mauritius office and implement secure IT systems. Perform cybersecurity tests and prepare disaster recovery plans.
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Prepare documentation
Compile all corporate, governance, policy, technical and financial documents per FSC guidelines. This includes drafting AML/CFT policies, business and management plans, and appointing officers (MLRO, Compliance Officer).Ensure all forms (PQ forms for directors, company questionnaire) are completed.
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Submit Application
File your application and documents with the FSC and pay the applicable fees.
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FSC Review
The FSC will review and may request clarifications. Respond promptly to any queries.
Approval
Upon successful review, the FSC issues your VASP license, granting legal authority to offer crypto exchange, wallet, custody or advisory services as approved.
OUR OFFER
At NUR Legal, we provide tailored legal solutions for launching and operating cryptocurrency businesses in Mauritius.
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For those still evaluating the regulatory landscape, we offer a comprehensive Legal Opinion that assesses whether your project falls under Mauritius virtual asset regulatory framework - giving you clarity and confidence before moving forward.
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For clients ready to proceed, we deliver a full-scope package that include everything required to legally and effectively launch your crypto venture in Mauritius. Whether you're exploring the viability of your concept or fully prepared to establish operations, we ensure your launch is both compliant and strategically sound.
Full package Licensing
We offer complete support for registering and licensing your crypto company in Mauritius, from incorporation to FSC approval and operational launch.
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Registration of your Mauritian GBC1 and securing all corporate approvals.
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Corporate Secretarial: Nominee director and shareholder services, registered office address.
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Assistance with opening corporate accounts in Mauritius (through trusted local banks).
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Drafting all required manuals (AML, cyber security, risk management, etc.) in line with VAITOS rules.
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Preparing and filing your VASP license application to the FSC.
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Ensuring continued compliance, filing statutory returns, and liaising with Mauritian authorities post-licensing.
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And more — your full-service partner for crypto licensing in Mauritius.
LEGAL FRAMEWORK
Mauritius has taken a forward-looking approach to regulating digital assets, positioning itself as a financial hub for Africa and the Indian Ocean region. The central legal instrument is the Virtual Asset and Initial Token Offering Services Act (VAITOSA) of 2021, which brought the country’s regulatory framework into alignment with the Financial Action Task Force (FATF) standards on virtual assets. The Act is administered by the Financial Services Commission (FSC), which serves as the licensing and supervisory authority for Virtual Asset Service Providers (VASPs).
Under VAITOSA, Mauritius established a clear set of license categories: broker-dealer, custodian, wallet provider, exchange operator, and advisory/issuance services. Each license is tied to minimum capital requirements, governance standards, and operational obligations. This categorization ensures that different types of crypto businesses are subject to proportionate oversight. For example, custodians and exchanges face higher capital and security standards than advisory services.
The framework requires all applicants to incorporate in Mauritius and demonstrate local substance. This is not merely a formality: the law mandates local presence, appointment of a Compliance Officer and Money Laundering Reporting Officer, and oversight by resident directors. Companies must also maintain audited accounts, submit periodic returns to the FSC, and comply with AML/KYC procedures aligned with FATF’s “Travel Rule.”
Importantly, the Act also regulates Initial Token Offerings (ITOs). Issuers must register whitepapers with the FSC, provide full disclosures, and ensure investor protection. This positions Mauritius as one of the few African jurisdictions with a comprehensive, law-based framework for both service providers and token issuers.
By enacting VAITOSA, Mauritius has moved away from the unregulated environment that characterizes many offshore jurisdictions. Instead, it offers a credible and transparent framework attractive to investors, fintech startups, and institutional players who want to operate in a jurisdiction recognized by global financial regulators.
OUR SERVICES
At NUR Legal, we specialize in guiding crypto businesses through the regulatory landscapes of the Mauritius.
Reach out to NUR Legal for expert guidance throughout the licensing process.
At NUR Legal, our services encompass:
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Regulatory Consultation
Assessing the best jurisdiction and license type for your business.​
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Documentation Assistance
Preparing and reviewing all necessary documents.​
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Application Management
Handling the submission and liaison with regulatory bodies.​
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Post-Licensing Support
Ensuring ongoing compliance and addressing any regulatory updates.
