Mauritius Crypto License 2025

Key Advantages of Mauritius VASP License

Double Tax Treaty Network

Mauritius maintains double tax avoidance agreements with over 40 jurisdictions including India, China, South Africa, Singapore, UAE, UK, and France. Treaties reduce withholding taxes on cross-border payments at source.

Why it matters: Without a treaty, source countries withhold 20–30% tax on payments. This amount cannot be recovered in jurisdictions like Panama, Seychelles, or BVI that lack treaty access.

Gateway to African and Asian Markets

Mauritius geographic position (UTC+4 timezone) enables same-day business with Europe, Middle East, Asia, and Africa. The jurisdiction serves as an established financial bridge between these regions, with 20+ years track record as an international financial center.

Why it matters: Sub-Saharan Africa recorded $205 billion in crypto transaction volume (July 2024–June 2025), with 52% year-over-year growth, ranking as the third-fastest-growing crypto market globally (Chainalysis 2025). Mauritius offers jurisdictional neutrality for companies targeting African expansion, Indian institutional clients, or Chinese cross-border payments. EU or Singapore licenses carry higher compliance costs without corresponding advantage in these growth markets.

Global Regulatory Recognition

Mauritius VASP framework complies with FATF (Financial Action Task Force) Recommendation 15 – the international standard for virtual asset regulation. This means your license is recognized by banks, payment processors, and financial institutions worldwide. The FSC (Financial Services Commission) has supervised financial services since 2001, giving Mauritius regulatory credibility on par with European Union countries and Singapore.

Corporate Banking Access

One of the biggest challenges for crypto businesses is opening corporate bank accounts. Banks reject most unlicensed crypto companies due to compliance risks. With a Mauritius VASP license, you can establish corporate accounts with both local Mauritius banks and international banking institutions operating in the country.

What is the VAITOS Act 2021?

The Virtual Asset and Initial Token Offering Services Act 2021 is Mauritius’s comprehensive crypto regulation framework. Effective from February 7, 2022, the VAITOS Act regulates all virtual asset service providers (VASPs) and token issuers operating in or from Mauritius. The Financial Services Commission (FSC) serves as the sole regulator for licensing, supervision, and enforcement.

Services You Can Provide with Mauritius VASP License

Mauritius offers 5 VASP license classes covering all crypto business activities. You can apply for one or multiple classes depending on your business model. Each license authorizes specific services under FSC supervision.

Requirements to Obtain an VASP license in Mauritius

Corporate Structure

• Legal entity: Global Business Company (GBC) or Authorized Company (AC) registered in Mauritius
• Physical presence: Real office address required. Central management and board meetings must be in Mauritius (virtual offices not accepted)
• Minimum 2 directors (at least 1 Mauritius resident) + Senior executive residing in Mauritius
• Company secretary: local Mauritius resident
• Compliance Officer and MLRO appointed

Capital Requirements by License Class

• Class M (Virtual Asset Broker Dealer): ~€44,000
• Class R (Virtual Asset Custodian): ~€110,000
• Class S (Virtual Asset Marketplace): ~€145,000
• Class O (Virtual Asset Wallet Services): 12 months working capital
• Class I (Virtual Asset Advisory Services) or ITO: Sufficient working capital

Documents for FSC Submission

• Corporate: Incorporation certificate, Constitution, Register of directors/shareholders, Office lease agreement
• Personal (all directors, UBOs, controllers): Passports, Proof of address, CVs, Qualifications, Reference letters, Police clearance, Source of funds
• Financial: Bank confirmation of capital, 3-year projections (P&L, balance sheet, cash flow)
• Policies (prepared before submission): AML/CFT manual, Risk management framework, Cybersecurity policy, Business continuity plan, Client asset protection procedures, Market abuse prevention measures
• Business plan: Services description, target markets, technology infrastructure, organizational structure

Application Fee

• $1,000 (Class M, O)
• $1,500 (Class R)
• $3,000 (Class I, S)
• $2,000 (ITO Issuer)

Sources: FinCEN (Financial Crimes Enforcement Network), OFAC (Office of Foreign Assets Control) Sanctions, IRS (Internal Revenue Service) — EIN

Ongoing Obligations After License Issuance

Regular Reporting

• Quarterly: Reporting to FSC on operations and compliance
• Annual: Audited financial statements by FSC-approved auditor
• Annual: Cybersecurity audit by qualified auditor
• Within 7 days: Notify FSC of material changes (directors, controllers, business activities, office address)

Operational Compliance

• Implement and maintain AML/CFT procedures including customer due diligence, transaction monitoring, suspicious transaction reporting, and 7-year record keeping.
• Report cybersecurity breaches within 72 hours to FSC. Maintain data encryption, multi-factor authentication, and regular security audits.
• Segregate client assets from company funds, maintain professional indemnity insurance, and disclose all fees and risks to clients.

Fees and Renewals

• Annual license fee ranges from MUR 25,000 to MUR 50,000 (~$550–$1,100) depending on license class and number of beneficiaries.
• License must be renewed every 2 years with FSC. Renewal includes mandatory compliance program review.

Special Requirements (if applicable)

• If issuing stablecoins, you must maintain 1:1 fiat reserves in segregated accounts with Mauritius banks. Reserves must be attested quarterly by a registered auditor.
• For NFT platforms, fractionalised NFTs are regulated as securities under Securities Act 2005 and require securities license instead of VASP license. Pure collectible NFTs are unregulated. Other NFTs require VASP license.
• DeFi activities and staking services both require appropriate VASP licensing according to FSC clarification issued in 2024.

Sources: FinCEN (Financial Crimes Enforcement Network), OFAC (Office of Foreign Assets Control) Sanctions, IRS (Internal Revenue Service) — EIN

Taxation for VASP Companies in Mauritius

Mauritius VASP companies benefit from competitive tax framework combining moderate corporate tax with unique advantages: no capital gains tax, no withholding tax on dividends, and access to 40+ double tax treaties. Most VASPs structure as Global Business Company (GBC) to access treaty benefits.

Standard Rate

• General corporate tax is 15% on net profits
• Applies to all Mauritius-resident companies (Global Business Companies)
• Company taxed on worldwide income

Lower Tax Rate for International Business (3–8% Effective)

If your VASP earns income from international clients (outside Mauritius), you can reduce your effective tax rate to 3–8% instead of the standard 15%. Mauritius allows you to exclude 80% of foreign-sourced income from taxation completely — you only pay 15% tax on the remaining 20%.

What qualifies as foreign income: Trading fees, custody fees, and service fees from clients outside Mauritius. Also includes dividends, interest, and royalties from foreign sources.

Requirements: Must be registered as Global Business Company (GBC) with tax residency certificate and real presence in Mauritius (physical office, local directors, actual operations). Cannot be a shell company.

Regulatory Framework for VASP in Mauritius

Mauritius has established a comprehensive regulatory framework for virtual asset service providers through the VAITOS Act 2021. The Financial Services Commission (FSC) serves as the sole regulator for the crypto sector, providing clear guidelines and supervision for all VASP activities.