Obtaining crypto licenses, white label consulting,
ICO/STO, supporting NFT marketplaces, drafting policies
for crypto projects, DAOs, and gamify projects
What Is a Mauritius Crypto (VASP) License?
A Crypto License in Mauritius is a government-issued permit to conduct activities related to virtual assets. Mauritius has been regulating crypto activities since 2021; the primary legislation governing the sector is the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act 2021). The Act establishes clear rules for the crypto business and enables operations to be conducted in a transparent, clear, and predictable manner.
Mauritius’ Financial Services Commission (FSC) is the regulator responsible for licensing, as well as for the supervision and oversight of companies, ensuring their compliance with regulatory requirements, and specifically with AML/CFT requirements. The FSC evaluates the company’s business model, the suitability of its management and owners, internal company policies, the risk management system, and compliance with international standards.
In general, the activities of a VASP (Virtual Asset Service Provider) in Mauritius include crypto-asset exchange, the provision of advisory services, custodial services, crypto-asset platform operators, and ICOs.
Obtaining a VASP license is mandatory for companies providing crypto-related services and based in Mauritius. It should be noted that the regulation adopts a risk-based approach and flexible requirements, which depend directly on the nature of the activities.
The Mauritius VASP license is a structured and internationally recognized tool for launching a crypto business in a jurisdiction with transparent regulation and access to global markets.
Why Mauritius for Crypto Business in 2026?
In 2026, Mauritius is one of the most popular and attractive jurisdictions for crypto companies, combining flexibility, certainty, and a focus on the international market. It is worth noting that the country is a pioneer in crypto regulation; the VAITOS Act was passed in 2021 and became fully operational in 2022. The regulation established clear rules for working with crypto assets and boosted confidence among banks and partners.
The FSC is a regulator that takes a practical and business-oriented approach to the licensing process. Unlike other jurisdictions, the FSC does not merely review businesses in a formal manner but seeks to assess their ability to conduct operations, which, in turn, simplifies the licensing process and reduces the risk of rejection.
Equally important is Mauritius’s positioning as a hub between Africa, Asia, and the Middle East, as well as the short time difference with Europe, which allows for faster business communications. Mauritius opens access to new markets and facilitates the handling of multi-currency flows, which is key for crypto projects. An additional positive factor is the competitive tax environment. In 2026, Mauritius remains an effective alternative to more heavily regulated markets, maintaining a balance between regulatory transparency and operational freedom for the crypto business.
Types of Mauritius VASP Licenses
With the enactment of the VAITOS Act 2021, five types of licenses have been introduced in Mauritius, each of which depends directly on the company’s intended business activities.
| License Class | Types of Activities | Primary Services |
|---|---|---|
| M | Virtual Asset Broker - Dealer | exchange between virtual assets and fiat currencies & crypto-crypto exchange |
| O | Virtual Asset Wallet Services | provision of virtual wallet services, including the transfer of virtual assets on behalf of clients |
| R | Virtual Asset Custodian | safekeeping of virtual assets or instruments enabling control over virtual assets |
| I | Virtual Asset Advisory Services | providing advice on virtual assets |
| S | Virtual Asset Market Place | management of cryptocurrency exchanges, launch of platforms facilitating interaction between buyers and sellers |
Requirements for a Mauritius Crypto License
The FSC, in implementing Mauritian regulations, takes a very serious approach to analyzing businesses for compliance and their ability to conduct crypto-related activities in the country.
To begin with, a local company must be established in the country and brought into compliance with licensing requirements. A Global Business Company (“GBC”) must be governed by a board of directors consisting of at least three members, with 30% of the board comprising independent directors and two members being residents of Mauritius. In addition, the Senior Executive and the secretary must be residents of Mauritius and receive approval from the FSC. Furthermore, all founders, beneficial owners, and officers are subject to verification and require approval.
It is important to note that the company must appoint the following mandatory positions: Compliance Officer, Money Laundering Reporting Officer (MLRO), Deputy Money Laundering Reporting Officer (DMLRO), and Data Protection Officer (DPO), all of whom must have proven knowledge and experience. Compliance with these standards confirms that VASPs in Mauritius are able to meet the requirements for combating money laundering and terrorist financing.
In addition, the company’s substance is ensured by the requirement to have a physical office in the country (the FSC will verify the lease agreement), and the company’s operations must be conducted from Mauritius (i.e., management must be based in the country).
Equally important is that licensed crypto companies must maintain minimum amounts of unimpaired capital in a locan account that exceed the statutory requirements.
The requirements for authorized capital depend directly on the type of business and the required license class, and are as follows:
| License Class | Types of Activities | Capital requirements |
|---|---|---|
| M | Virtual Asset Broker - Dealer | 2,000,000 Mauritian Rupees (~ 44,000 USD) |
| O | Virtual Asset Wallet Services | sufficient working capital in fiat currency to continue business for a period of 12 months, based on realistic forecasts for the business in different market conditions (both negative and positive scenarios) |
| R | Virtual Asset Custodian | 5,000,000 Mauritian Rupees (~ 110,000 USD) |
| I | Virtual Asset Advisory Services | sufficient working capital to be capable of meeting its debts as they fall due |
| S | Virtual Asset Market Place | 6,500,000 Mauritian Rupees (~ 145,000 USD) |
Process of Obtaining a Crypto License in Mauritius
The process of obtaining a Crypto License in Mauritius is generally quite similar to that in other countries. It all begins with an assessment of the business to ensure it meets the requirements, determining which license categories will apply to the company, and possibly combining them (a business may apply for multiple categories of the Mauritius VASP license at once, if necessary).
After that, the preparation process for licensing begins, which involves drafting and preparing the necessary documents for the company and its licensed activities, recruiting local staff, renting an office, incorporating the company, communicating with the bank, and more.
It is important to note that after completing all preparations for the business description, a legal opinion is prepared and submitted to the FSC along with other documents for review.
The regulator conducts a compliance assessment, specifically reviewing documents, policies, procedures, personnel, owners, and systems, and issues confirmation. Following this confirmation, the company fully hires staff, rents an office, opens a bank account, contributes the authorized capital, takes any other necessary actions as required, provides confirmation to the FSC, and may commence operations.
How Long Does It Take?
It is important to understand that obtaining a crypto license involves not only the review and evaluation of documents by the regulator, but also the development of a business model, its structuring, staff recruitment, process design, and the creation of a viable system capable of operating under close government supervision.
Each case will depend on the complexity of both the business model and the types of activities planned. In practice, the process of obtaining a Crypto License in Mauritius takes 8 to 10 months.
The first few months are spent on comprehensive preparation and structuring, recruiting management with the necessary knowledge and experience, drafting documents, policies, and procedures, verifying the technical components for compliance or developing them from scratch, as well as establishing the company and communicating with stakeholders.
The most time-consuming stage is the business assessment and FSC application, as the regulator reviews both personnel and the compliance of policies and systems, as well as the presence of substance. The FSC is a rather meticulous and thorough regulator, and therefore may return multiple times with additional requests and clarifications. The process often takes up to six months. After review, the FSC issues a confirmation of operations, and the company can complete the initiated procedures and proceed with business operations.
Cost of a Mauritius Crypto License in 2026
The cost of obtaining a Crypto License in Mauritius will always consist of several components. In addition to legal work—which involves evaluating the business model, selecting the appropriate categories, drafting clear and comprehensive documents and policies, as well as reviewing existing relationships and documents, drafting contracts, and resolving ongoing issues—the business must also factor in other considerations. These include company incorporation fees, office rental costs, payments to partners who will conduct audits or develop the technical infrastructure, bank fees for onboarding, and, equally important, salaries for mandatory local employees with the necessary knowledge and experience who will be involved in operations.
It is also important not to overlook the government fees that must be paid to the FSC for processing the application and documents. It should be noted that, compared to some other countries, government fees for applying for a license in Mauritius are relatively low, depend on the type of activity and license class, and range from 1,000 to 3,000 USD.
After obtaining the license, one should also not forget about the costs of maintaining the company’s operations, preparing and submitting reports, etc.
Obtaining a crypto license is often an expensive process, but the opportunities offered by the crypto market are well worth it!
Contact us to receive a comprehensive proposal for obtaining a Mauritius VASP license.
Ongoing Compliance Obligations
Upon obtaining a Crypto License in Mauritius, the company must adhere to the high standards of conduct established in the country under the VAITOS Act 2021 and remain under the constant supervision of the FSC. The primary focus is on operational transparency, risk management, the effectiveness of monitoring procedures, and comprehensive client protection.
The company is subject to a wide range of obligations, particularly regarding compliance with AML/KYC procedures and approaches. The business must conduct customer identification, monitor transactions, and report suspicious transactions if risk indicators arise. As we have already noted, the company must have an MLRO approved by the FSC who is responsible for compliance and coordination.
Regular company reporting is a key element of compliance. Crypto companies must submit audited financial statements covering all transactions and balances related to their operations, and the auditor must be approved by the FSC.
In addition, changes to the company’s structure, business model, or management must be approved by the FSC; the company must also undergo an FSC review and obtain approval for new executives.
Ensuring system security and protecting client assets is critically important. Companies must ensure the secure storage of assets and implement risk management systems commensurate with the scale of their operations.
Maintaining a VASP license in Mauritius is not about formal compliance with requirements, but about meeting these requirements every day.
Advantages of Working with SBSB
SBSB Fintech Lawyers are ready to provide full support in obtaining a Crypto License in Mauritius. It all starts with an idea and your vision of the end result. Our team will evaluate your business model, assess it against Mauritian regulations to determine the optimal business structure, and then we’ll get started.
Based on your business idea, we will develop a comprehensive set of documents, identify and describe the key elements of your operations, draft contracts and policies, and prepare the application. We will also assist you in finding a local office and recruiting the necessary key specialists who meet FSC requirements, and if needed, we can also connect you with reliable partners for the technical development.
Once everything is ready, we will submit the application and documents to the regulator, handle all communications, answer questions, and do everything to ensure you get the best possible outcome.
After obtaining the license, our team will also assist with maintaining the company’s operations, preparing reports, and day-to-day activities.
With us, you’re in good hands!
Get Your Mauritius Crypto License
In 2026, the VASP crypto license in Mauritius remains an attractive opportunity for businesses to operate in the crypto sector in an official, transparent, and reputable manner. Mauritius is an island located at the crossroads of Asia and Africa, offering the ability to conduct business in the same time zone as Europe.
The Crypto License in Mauritius covers the main types of activities involving crypto assets and can be obtained with flexibility and tailored directly to your business. Also important are the low fees for application processing and future company support.
SBSB Fintech Lawyers provide comprehensive support for businesses looking to launch their crypto venture in Mauritius, from company formation to recruiting key personnel, securing office space, drafting all necessary documents, liaising with the regulator, and supporting the company’s operations after obtaining the license.
Contact us and we’ll get you started on your journey to obtaining a VASP license and running a crypto business in Mauritius!
Frequently Asked Questions About the Mauritius Crypto License
What is a VASP license in Mauritius?
It is a license to conduct activities related to crypto-assets in accordance with the VAITOS Act 2021.
Who regulates crypto companies and issues licenses?
In Mauritius, the Financial Services Commission (FSC) is the authorized regulator that issues licenses and oversees operations.
What types of activities require a license?
Exchange between virtual assets and fiat currencies & crypto-to-crypto exchange; provision of virtual wallet services, including the transfer of virtual assets on behalf of clients; safekeeping of virtual assets or instruments enabling control over virtual assets; providing advice on virtual assets and management of cryptocurrency exchanges; launch of platforms facilitating interaction between buyers and sellers.
How long does the entire process take from company formation to working with clients?
Typically, the entire process—from company formation, staffing, document preparation, to interacting with the FSC—takes 8–10 months (depending on the project’s complexity).
Is a physical presence in Mauritius required?
A physical presence is mandatory; the company must have local management as well as a physical office.
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Customer manager
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