Mauritius Crypto License: VASP Requirements & Costs

A crypto license in Mauritius offers exchanges / digital asset firms robust banking options, cost savings relative to other jurisdictions, low taxes, and a speedy license approval process. With a total of 5 license classes, Mauritius VASP regulation is able to accommodate crypto exchanges of all shapes and sizes as well as Web 3.0 projects, asset tokenization, Defi apps, investment vehicles and much more. As an established hub for financial services regulation, the recent addition of cryptocurrency regulation further solidifies Mauritius as the fintech capital of Africa.

Mauritius VASP License – Key Requirements

  • Capital starting as low as MUR 2,000,000 (~$40,000 USD)
  • Minimum of 2 physical directors residing in Mauritius
  • Extensive business plan reflecting project goals, revenue forecasts, and long term growth
  • Company directors must demonstrate experience in crypto / financial services 
  • Budget of at least $100,000
  • A local office in Mauritius
  • Annual cybersecurity audit
  • Professional indemnity (PI) & cybersecurity insurance 
  • Local bank account to hold capital & cover operating expenses
  • Proven technology capable of handling extensive stress testing.

Obtaining a Crypto License in Mauritius – Step by Step Guide

  • Step 1 – Consultation Call: Speak with our team of experts in order to determine if Mauritius is the right fit for your exchange / project. During this conversation we’ll cover timelines, costs, requirements, and address your team’s questions. Based on the discussion we’ll recommend a license class and send a formal proposal with our business terms. 
  • Step 2 – Gather Documentation: Upon acceptance of our proposal, we’ll begin to gather the necessary documentation related to all proposed owners and directors. Additionally, we’ll need key information about the crypto exchange / project in order to prepare the application. If required we’ll hold discussions to answer questions and outline the requirements.
  • Step 3 – Key Personnel Appointment: We’ll formally appoint the CEO, Money Laundering Reporting Officer (MLRO), and Compliance Officer. Ideally these roles should come from your organization. In the event your group is not able to support any of these position, our team can source them within our network.  
  • Step 4 – Company Formation: Reserve the desired name of your entity and incorporate a Global Business Company (GBC), in most cases we’ll register a GBC1 entity. 
  • Step 5 – Application Preparation: With key staff in place and the corporate entity already established, we’ll work on the application. We take a hand’s on approach so that your effort is minimal, however, we share all documentation for review before the formal submission to the FSC. 
  • Step 6 – Overview of Technology: The Mauritius FSC requires comprehensive documentation of your VASP’s technology infrastructure. Our team will assist with the preparation of this  overview will include: specific details on cybersecurity in compliance with ISO 27001 guidelines, stress testing, emergency protocols, and the overall design of system wallets and other functionality.  the desired name of your entity and incorporate a Global Business Company (GBC), in most cases we’ll register a GBC1 entity. 
  • Step 7 – Website Review: Our team will review the website of your exchange to ensure it remains compliant with the Mauritius FSC standards. Examples include proper client onboarding procedures, legal & privacy policies, as well as internal transaction monitoring systems.
  • Step 8 – AML Policies & Business Plan: As part of our complete suite of services, we’ll develop the required AML / CFT policies required by the Mauritius authorities along with a business plan which demonstrates the goals of the project.
  • Step 9 – Insurance: Our group will secure the necessary professional indemnity and cybersecurity insurances from local firms in order to comply with FSC requirements.
  • Step 10 – Application Submission: Once all documentation has been compiled, we’ll formally submit the application with the Mauritius FSC
  • Step 11 – FSC Feedback: The FSC will provide feedback regarding the application. Our team will work diligently to address the points and provide documents requested from the FSC when necessary. 
  • Step 12 – Approval: We’ll receive official approval from the FSC. In some instances we’ll need to perform some small tasks (filing of documentation or lodging insurance) which our group will be responsible for.
  • Step 13 – Bank Account: Our group will approach multiple local banks in Mauritius in order to proceed with the account application.

What is Virtual Asset Service Provider (VASP)?

💡 In Mauritius, crypto / digital asset activity is officially licensed by the FSC under the category: Virtual Asset Service Provider.

☑️VASP licenses are split up into 5 major categories: Crypto Broker Dealer License, Digital Wallet & Transfer Services, Virtual Asset Custodian / Registry, Crypto Investment Advisory License, and Crypto Exchange Platform License.

Mauritius VASP License Classes

License Category Regulatory Code Permitted Activities Minimum Capital Requirement (MUR) Approximate Capital (USD) Application Fee (FSC) Annual Renewal Fee (FSC)
Crypto Broker-Dealer License VA-1.1 (M) Facilitates virtual asset-to-virtual asset trading and crypto-to-fiat exchanges; operates as a digital asset brokerage MUR 2,000,000 Approximately $44,000 USD $1,500 – $2,500 $1,900 – $3,000
Digital Wallet & Transfer Services VA-1.2 (O) Provides cryptocurrency wallet solutions, transfer services, and limited custody of digital assets 12 months of operating capital required Based on operational expenses $1,000 – $2,000 $1,900 – $3,500
Virtual Asset Custodian / Registry VA-1.3 (R) Offers secure custody of digital assets and maintains blockchain-based registry services MUR 5,000,000 Approximately $110,000 USD $2,000 – $3,000 $3,000 – $4,500
Crypto Investment Advisory License VA-1.4 (I) Delivers professional advisory services related to virtual asset investments and portfolio strategies Adequate capital to sustain operations Dependent on business model $1,000 – $1,500 $1,900 – $2,500
Crypto Exchange Platform License VA-1.5 (S) Operates a full-scale digital asset exchange, supporting multi-asset trading and marketplace functionality MUR 6,500,000 Approximately $143,000 USD $2,500 – $3,000 $4,000 – $5,000

How to get a Crypto License in Mauritius? – Contact Us Today!

    Why Explore Crypto Licensing in Mauritius?

    With the passing of the Initial Token Offering Services Act of 2021 (VAITOS), Mauritius entered the scene for virtual asset regulation. Since 2021, it has quickly taken the spotlight as a top choice for offshore crypto regulation. With crypto regulation still in its early stages when compared to traditional financial services, Mauritius has emerged as one of the pioneers for digital asset regulation in Africa. Flexible capital requirements based on business use case, cost effective monthly fees as well as access to reputable banking are just some of the reasons Mauritius is an excellent destination for virtual / digital asset regulation. 

    Atomiq Consulting – Your Trusted Partner for Crypto Licensing in Mauritius

    Founded in 2014, Atomiq Consulting has become a trusted authority in financial services licensing worldwide. Over the years, our firm has played a key role in helping forex and CFD brokers establish operations across multiple jurisdictions, including Mauritius. With this experience as a backdrop, we quickly pivoted to the rapidly growing virtual asset / crypto industry. Due to our deep understanding of Mauritius’s regulatory environment, Atomiq Consulting is uniquely positioned to assist your blockchain business or cryptocurrency exchange with obtaining a Virtual Asset Service Provider (VASP) license in Mauritius.

    If your digital asset firm is exploring a crypto license in Mauritius, we’re here to help. Reach out to Atomiq Consulting to learn more about the application process, projected timelines, and fee structures — or to discuss how Mauritius can serve as a reputable base for your digital asset operations.

    Mauritius Crypto Regulation FAQ

    Can I buy a Mauritius VASP?

    In addition to license consultation, we can also assist you in acquiring a fully licensed digital asset firm forex. Check out our marketplace to see the current crypto exchanges for sale in Malaysia.

    Is staking permitted by the Mauritius FSC?

    Yes. Licensed crypto exchanges in Mauritius are able to offer staking. 

    What is VAITOS 2021 and why is it relevant to VASP regulation in Mauritius?

    In 2021, Mauritius passed the Virtual Assets and Initial Token Offerings Services Act which created a legal framework for the regulation of virtual / digital currency services. As a result of VAITOS 2021, it is possible to legally operate in Mauritius as a cryptocurrency exchange. This law also allows one to legally operate a launch tokens in Mauritius, start a Web 3.0 project, or tokenize assets for the purposes of investment.  

    How long does it take for a Mauritius crypto application to be approved?

    Approval rates can be as quick as 5 months but often takes longer, up to 10 months. 

    Is a physical visit to Mauritius required for approval?

    No. Local directors are required but these roles can be outsourced. 

    What is a MLRO and is it needed in order to get crypto licenses in Mauritius?

    MRLO stands for Money Laundering Reporting Officer. As part of the Mauritius FSC requirements, all licensed VASP entities must appoint a full time MLRO. The purpose of this role is to ensure that the VASP is compliant with both local and global anti-money laundering policies.  

    Under which guidelines is crypto regulated in Mauritius?

    The Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS) provides the regulatory framework for crypto licensing in Mauritius.

    Is it possible to get a bank account with a Mauritius crypto license?

    Yes, as part of our services, we can assist your group with obtaining a bank account. 

    What is ISO 27001 and how is it related to crypto regulation in Mauritius?

    ISO 27001 is a globally recognized standard for the safe management and security of data. As part of the requirements for VASP licensing in Mauritius, the exchange / project must prove compliance with ISO 27001. By adopting the measures set in ISO 27001, the Mauritius FSC can ensure the exchanges they regulate have the necessary infrastructure in place to keep client data secure. Additional cybersecurity standards are also part of license requirements. 

    What is a GBC1 company?

    In Mauritius, firms engaging in financial services have a special registation class known as a Global Business Company (GBC). Each type of activity has its own numerical association, hence GBC 1 or GBC 2..

    What tax rates are licensed crypto firms in Mauritius subject to?

    Capital gains tax is set at 0% with an effective tax rate estimated at roughly 3%.  

    What regions offering cryptocurrency regulation are similar to Mauritius?

    Those looking for additional offshore jurisdictions should consider regions like BVI and Labuan, Malaysia. 

    About the Author

    This article was written by Jonathan Baumgart, Founder and CEO of Atomiq Consulting. With over a decade of experience in the forex industry, Jonathan specializes in helping businesses launch brokerages and navigate global licensing requirements.

    Connect with Jonathan on LinkedIn



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