Licenses in Mauritius
Mauritius VASP Licensing
for Crypto & FinTech Businesses
Company setup, FSC application support, regulatory structuring and post-licensing compliance — tailored to your VASP class, business model and operational requirements.
Government, FSC, ROC, registered office, substance, officer, accounting and other third-party fees are charged separately at cost unless expressly agreed otherwise.
VASP Licensing in Mauritius
Mauritius offers a regulated framework for Virtual Asset Service Providers under the VAITOS regime, supervised by the Financial Services Commission Mauritius. The correct licensing route depends on the applicant's business model, selected VASP class, transaction flow, custody arrangements, target markets and operational structure.
Our services are designed for different levels of business complexity — from a basic one-class VASP registration to a bank-ready operational setup, exchange, custody-heavy or multi-class VASP structure.
A Mauritius VASP is typically structured through a Global Business Company (GBC) — an entity type designed for international business operations under Mauritius law.
Mauritius VASP Licence Classes & Requirements
Mauritius regulates different virtual asset activities through separate VASP licence classes. The correct class depends on what the business actually does.
| Licence class | Activity | Capital / working capital |
|---|---|---|
| Class M | Virtual Asset Broker-Dealer | MUR 2,000,000 |
| Class O | Virtual Asset Wallet Services | 12-month working capital |
| Class R | Virtual Asset Custodian | MUR 5,000,000 |
| Class I | Virtual Asset Advisory Services | Sufficient working capital |
| Class S | Virtual Asset Market Place / Exchange | MUR 6,500,000 |
Additional prudential requirements may apply depending on projected fixed overheads, business model, risk profile, transaction volume and FSC assessment.
| Class | Processing fee | Annual fee |
|---|---|---|
| Class M | USD 1,000 | USD 2,000 |
| Class O | USD 1,000 | USD 1,900 |
| Class R | USD 1,500 | USD 2,500 |
| Class I | USD 3,000 | USD 5,000 |
| Class S | USD 3,000 | USD 5,000 |
| Business model | Likely class |
|---|---|
| Broker-dealer / principal trading | Class M |
| Wallet / transfer services | Class O |
| Custody of client virtual assets | Class R |
| Investment / advisory services | Class I |
| Marketplace / exchange platform | Class S |
| Full VASP / multi-service platform | M + O + R + I + S |
For exchange, marketplace, custody-heavy or multi-class structures, a separate scope assessment is required.
Mauritius VASP Licensing Packages
Two fixed packages for non-complex and operational-ready VASP structures. For Class S, custody-heavy and multi-class models — custom scope and pricing after assessment.
Mauritius Basic VASP Registration
For one low-complexity VASP class — broker-dealer, wallet or advisory
- Due diligence process coordination
- Name reservation
- Company registration paperwork
- Mauritius GBC setup coordination
- Filing support for one VASP class (excl. Class S)
- Document checklist for shareholders, directors and UBOs
- FSC application process coordination
- Review of client-provided business plan, policies and manuals
- Constitutional and legal certificate
- Auditor consent fee coordination
- Legal adviser consent fee coordination
- Basic AML/KYC templates
- Class M — Virtual Asset Broker-Dealer
- Class O — Virtual Asset Wallet Services
- Class I — Virtual Asset Advisory Services
| ROC registration | USD 350 |
| FSC processing GBC | USD 500 |
| FSC processing VASP class | approx. USD 1,000–3,000 |
| FSC annual GBC | USD 1,950 |
| FSC annual VASP class | approx. USD 1,900–5,000 |
| ROC annual | USD 350 |
Depending on selected VASP class. Registered office, substance, officer, accounting and other third-party fees charged separately at cost.
Mauritius Operational Ready VASP
For clients who need a licence-ready and bank-ready VASP structure with up to 2 classes
- Everything in Package 1
- Regulatory structuring of VASP activity
- Filing support for selected 2 VASP classes
- Regulatory business plan
- 3-year financial projections
- Legal documents package
- Full FSC application coordination
- FSC support within agreed scope
- Bank account application support
- AML readiness review of client-provided documentation
- Review of client-provided AML/CFT policy
- Review of KYC/CDD process
- Review of customer risk scoring approach
- Review of sanctions screening procedure
- Review of internal escalation process
- High-level gap comments for FSC and banking readiness
- Class M — Broker-Dealer
- Class O — Wallet Services
- Class I — Advisory Services
- M + R — Broker-dealer with custody elements
Custom scope for Class S, custody-heavy and complex models
For Class S marketplace / exchange models, custody-heavy operations, fiat-to-crypto structures, institutional setups or multi-class VASP businesses — Artlex prepares a custom scope and pricing proposal after assessment of the business model.
- Class S marketplace / exchange models
- Full crypto exchange structures
- Custody-heavy VASP models
- More than 2 VASP classes
- Fiat-to-crypto / crypto-to-fiat flows
- Institutional VASP setups
- All five VASP classes
- Enhanced substance or officer arrangements
- Class S / multi-class regulatory structuring
- Full regulatory business model analysis
- Advanced FSC application preparation
- Filing support for selected VASP classes
- Regulatory business plan and 3-year projections
- Legal documents package
- Custody / segregation of assets documentation
| Option | Best for | Includes | Professional fee |
|---|---|---|---|
| Package 1 — Basic VASP Registration | One simple VASP class | Company setup, one VASP class filing, document review, basic AML/KYC templates | From USD 15,000 |
| Package 2 — Operational Ready VASP | 2 classes, bank-ready and licence-ready | Package 1 + business plan, projections, legal docs, FSC coordination, bank support, AML readiness review | From USD 50,000 |
| Exchange / Custody / Multi-Class | Class S, custody-heavy, full VASP | Custom scope based on business model, custody, transaction flow and FSC requirements | Custom quote |
Annual Maintenance & Post-Licensing Support
After obtaining a Mauritius VASP licence, companies require ongoing regulatory, corporate and compliance support to maintain good standing and meet annual obligations.
- →Regulatory calendar and compliance reminders
- →Annual reporting coordination
- →Accounting / bookkeeping coordination
- →AML/CFT documentation updates
- →Officer and substance support coordination
Annual maintenance is quoted separately depending on the selected VASP class, business model, reporting obligations, officer structure and compliance scope.
Additional Services
Additional AML/CFT, governance, substance, reporting, accounting, banking and cybersecurity services — quoted separately after scope assessment.
AML/CFT Add-ons
Officer & Substance Services
Operational Support
IT Governance Support
Why Work with Artlex Consult
Regulatory Structuring Before Filing
We assess the business model, transaction flow, custody structure and target markets before determining the correct VASP class or combination of classes.
Practical Application Support
We help prepare the corporate, regulatory and operational file required for the licensing process — including coordination with local providers and professional advisers.
AML, Compliance & Risk Expertise
We support VASP clients with AML/CFT documentation, compliance governance, transaction monitoring, sanctions controls, Travel Rule readiness and independent AML reviews.
Bank-Readiness Focus
We structure the licensing file with bank / EMI onboarding in mind — including business activity explanations, governance documentation and compliance narratives.
Post-Licensing Continuity
We support clients beyond the initial application with maintenance coordination, reporting, accounting, officer support, AML reviews and regulatory follow-up.
Integrated Compliance Perspective
Our AML/CFT, MiCA, GDPR and regulatory expertise allows us to position the Mauritius VASP within the client's broader international compliance structure.
Frequently Asked Questions
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What is a Mauritius GBC and why is it used for VASP licensing?A Global Business Company (GBC) is a Mauritius entity type designed for international business operations. It is the standard vehicle used for VASP licensing under the VAITOS framework — offering access to Mauritius's tax treaty network and the FSC regulatory framework.
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Can a Mauritius VASP serve EU clients?This depends on the specific services offered, the client's location, and applicable EU regulatory requirements — including MiCA/CASP obligations. A Mauritius VASP licence does not automatically confer the right to provide regulated services to EU clients. We recommend assessing the regulatory position in target markets as part of the structuring process.
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Is a physical office required in Mauritius?Local governance and substance requirements apply depending on the structure, selected VASP class and FSC expectations. The level of local presence required is assessed as part of the structuring process.
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Can the business operate before receiving the VASP licence?Virtual asset services subject to VASP licensing under VAITOS should not be provided without the relevant FSC authorisation. The licensing timeline is typically 6–12 months depending on the class, business model and FSC review process.
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Are the package fees fixed?The listed professional fees are starting prices. Final pricing depends on the business model, selected VASP class/classes, number of shareholders / UBOs, complexity and third-party requirements. Government, FSC, ROC, registered office, substance, officer and accounting fees are charged separately at cost.
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Do the packages include AML/CFT policy preparation?Package 1 includes basic AML/KYC templates. Package 2 includes an AML readiness review of client-provided documentation. Full tailored AML/CFT framework preparation, transaction monitoring methodology and Travel Rule framework are available as separate add-on services.
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What ongoing obligations apply after receiving the VASP licence?Mauritius VASP licence holders are subject to annual FSC and ROC fees, regulatory reporting obligations (including CIGA, ESSNAC and CPDIS where applicable), AML/CFT governance requirements, accounting and bookkeeping obligations, and officer and substance requirements. Annual maintenance support is available separately.
Need a Mauritius VASP Licence?
We help crypto and fintech businesses structure, prepare and coordinate their Mauritius VASP licensing process — from company setup and FSC application support to business plan preparation, legal documents, bank readiness and post-licensing reporting.
Book a consultation to assess your VASP class, estimated costs and licensing route.