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Mauritius Crypto License – VASP Regime

How to Get a Mauritius Crypto License Under the VASP Framework

Mauritius has established itself as a secure and forward-thinking jurisdiction for regulated virtual asset businesses. Under the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), crypto exchanges, wallet providers, custodians, brokers, and token issuers must obtain a VASP license from the Financial Services Commission (FSC) to operate legally. This makes Mauritius one of the most credible and FATF-aligned crypto hubs in Africa / Indian Ocean region and a strong alternative to crypto licenses in Seychelles, SVG, or Georgia.

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Pros

Why Mauritius for a Crypto License?

Highly Respected, FATF-Aligned VASP Framework

Mauritius offers a clear and globally recognised VASP regulatory regime with strong AML/CFT standards and FSC supervision.

Excellent Reputation With Banks & Institutions

Mauritius is widely used by funds, fintechs and holding structures, giving licensed crypto businesses strong credibility in traditional finance.

Tax-Efficient & Founder-Friendly

Mauritius provides an attractive corporate tax environment, DTA access, and flexible structuring for global crypto groups

Suitable for Exchanges, Custody, OTC & Token Issuers

The VAITOS Act supports a broad range of crypto services, making it ideal for multi-service platforms scaling globally.

What a Mauritius Crypto License Allows You to Do

A Mauritius VASP license may cover multiple activities depending on your chosen category (Class M, Class O, Class R, Class I, or Class S). The most relevant for exchanges is Class M (Virtual Asset Broker-Dealer) and Class O (Virtual Asset Custodian).

Centralised Exchange / Trading Platform

  • Provides matching and execution of trades, order-book operations, and exchange functions for crypto-to-crypto and crypto-to-fiat pairs.

OTC / RFQ Brokerage Desk

  • Allows negotiated block trades, price quoting, and bilateral settlements for institutional or high-volume clients.

Custodial Wallet & Digital Asset Custody (Class O)

  • Enables secure storage of client assets, multisig/hardware custody, and safeguarding of private keys under FSC rules.

Additional VASP Activities

Token issuance, platform operations, wallet services, and advisory services may be permitted depending on license class.

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Structure

Mauritius Crypto License: Typical Group Structure

Mauritius VASP Entity

  • Incorporated as a Mauritius Global Business Company (GBC) or Authorised Company (AC).

  • Acts as the regulated operating entity supervised by the FSC.

  • Maintains AML/CFT governance, reporting, and operational oversight.

Technology / IP Entity

  • Owns/maintains exchange engine, wallet software, APIs, and IP.

  • Often located in a jurisdiction with favourable tech/IP rules.

  • Licenses the technology back to the Mauritius VASP operator.

Treasury / Liquidity & Support Entities

  • May handle treasury, liquidity provision, and market-making.

  • Can sit in UAE, EU, or offshore depending on banking and risk profile.

  • Keeps proprietary capital ring-fenced from client flows.

Requirements for Obtaining a Mauritius Crypto License

  • Mauritius-incorporated entity with registered office and local management.

  • Disclosure of UBOs, directors, and senior officers (fit-and-proper test).

  • Board with appropriate governance and oversight capability.

Corporate Requirements

  • AML/CFT program compliant with Mauritius FSC rules.

  • Appointment of MLRO, deputy MLRO, and Compliance Officer.

  • KYC/EDD, transaction monitoring, and reporting procedures.

  • IT security, wallet governance, and incident response standards.

Compliance Requirements

  • Minimum paid-up capital (often in the USD 15,000–50,000 range depending on class).

  • Operational resources, compliance budget, and staffing.

  • Insurance or financial safeguards depending on service complexity.

Capital & Operational Requirements

Process

Our Process for Mauritius Crypto Licensing (VASP)

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Step 1 – Business Model & License Mapping

  • Determine your activities: exchange, OTC, custody, token issuance.

  • Match them to VASP license categories (M, O, R, I, S).

  • Define group structure and compliance footprint.

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Step 2 – Mauritius Company Setup & Governance

  • Incorporate a GBC or AC entity.

  • Appoint directors, compliance officers, and local service providers.

  • Prepare governance, shareholding and operating structure.

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Step 3 – VASP Licensing Pack Preparation

  • Prepare AML/CFT program, compliance manuals, business plan, risk assessment.

  • Submit full VASP application to FSC.

  • Stakeholder interviews and queries by the regulator.

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Step 4 – Banking, EMIs & Operational Setup

  • Connect to crypto-friendly banks and payment providers.

  • Finalise wallet infrastructure, exchange engine, and custody protocols.

  • Move into operational readiness for launch.

Costs of Obtaining a Mauritius Crypto License

Below is an estimated cost range for licensing and operating a Mauritius VASP entity (exact fees depend on license class and service scope).

One-Time Setup Costs

  • Company registration + corporate setup: USD 4,000–7,000

  • VASP license application fees (FSC): USD 1,500–3,000+ depending on class

  • Compliance framework, manuals, business plan, MLRO structuring: USD 7,000–20,000

  • Technology and wallet/security review (if custody offered): USD 5,000–15,000

Annual Recurring Costs

  • FSC annual VASP license fee: USD 2,000–6,000

  • Registered office + management company: USD 3,000–6,000

  • AML/Compliance Officer + MLRO services: USD 6,000–18,000

  • Audit, accounting, and statutory filings: USD 3,000–7,000

Summary

  • Total setup cost: ≈ USD 15,000–40,000+

  • Annual operating cost: ≈ USD 15,000–35,000+

Why Work With Consultrio on Your Mauritius Crypto License?

End-to-end support

  • Deep experience with regulated crypto exchanges, OTC desks, and custody providers.

  • Proven licensing track record across Mauritius, SVG, Seychelles, Georgia, Cayman & UAE.

  • We map your model to the correct VASP class and prevent over-licensing.

Specialised in VASP Licensing

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  • Complete AML/CFT manuals, risk assessments, KYC/EDD, and transaction monitoring setup.

  • Assistance with selecting and onboarding MLRO/Compliance Officers.

  • Regulator-ready documentation tailored to the FSC’s expectations.

Compliance-First Approach

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  • Guidance on GBC/AC incorporation, governance, and group structuring.

  • Strategy for banking/EMI onboarding and fiat–crypto payment flows.

  • Operational readiness: wallet infrastructure, exchange engine, internal controls.

Structuring, Banking & Operational Setup

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Ready to Start Your Mauritius Crypto Licensing Process?

If you are planning to operate a compliant crypto exchange, custody solution, OTC desk, or token platform, Mauritius provides a stable and internationally recognised regulatory environment to scale responsibly.

FAQ

Frequently asked questions

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