1. [Statutory Classification of Mauritius VASP License, Business authority and tax mechanism]
Five statutory business categories
Class M (Broker-Dealer), Class O(wallet service), Class R (Custodian), Class I (Consulting Services), Class S (market platform/exchange). Support legal combination overlay application to achieve business closed loop.
3% actual effective tax rate
The standard corporate income tax is 15%. If registered as a global business company (GBC) and meet the economic substance requirements, Its income from specific overseas sources can be applied for in accordance with the law 80% tax exemption, The actual effective corporate income tax rate is 3%.
Statutory Exemptions and Agreement Network
in accordance with"2024finance bill of the year》, Gains from the sale of virtual assets are exempt from income tax. There is no capital gains tax or dividend withholding tax in Mauritius, and with the global 40 Multiple countries sign double tax avoidance agreements (DTA).
FATF standards and cross-border mutual recognition
FATF的风险为本虚拟资产及VASP指引可作为AML/CFT控制的国际背景资料, 不能据此断言毛里求斯制度已“完全遵守”所有标准, 也不代表银行接纳, 国际互认或跨境经营许可. 当地发牌及持续义务须按FSC现行规则核对.
2. 2023-2026Year Mauritius VASP [Industry Information and Legal Supervision Trends]
Legally approved cases: MINDEX / Coins.xyz
MINDEX became the first company in Mauritius to obtain an official VASP hosting license. Affiliates of the original Philippine platform Coins.xyz applied for brokerage in accordance with the law, wallets, Four full set of licenses for custody and trading market.
Cross-border licensing cases: Warwick / Eagle AI
Traditional institution Warwyck Private Bank applies for a crypto broker license in accordance with the law to allocate crypto assets. Eagle AI Labs applies for a license in accordance with the Act, Providing technical and advisory services to regulated hedge funds.
Stablecoin 1:1 New rules on reserves and pledges
Mauritius Financial Services Commission (FSC): FSC Regulation, DAOs that provide staking services and are local-oriented must be licensed. Stablecoin issuers must maintain segregated accounts in local banks 1:1 Fiat cash reserves, and quarterly assurance by independent auditors.
Travel Rule and EDD trigger threshold
2025Starting from March, A single transaction exceeding 100,000 rupees (approximately US$2,200) must trigger enhanced due diligence (EDD). Mandatory requirements for automated real-time monitoring systems, and fully implement the “Travel Rules”(Travel Rule) Technology docking.
3. [Interpretation of statutory capital requirements and prudential standards] for Mauritius VASP
| Statutory license type | Business authority and regulatory characterization | Legal minimum unsecured paid-in capital (Unimpaired Capital) |
|---|---|---|
| Class S (market platform/exchange) | Operate a virtual asset exchange, Provide facilities for matching orders between buyers and sellers, And host or control virtual assets on behalf of customers during the transaction process. | 6,500,000 rupee(approximately US$145,000) |
| Class R (Custodian) | Undertake trust and safety protection responsibilities, Safely store and manage the private keys of customers’ virtual assets or controlled assets. | 5,000,000 rupee(approximately US$112,000) |
| Class M (Broker-Dealer) | As an agent or dealer, Execute virtual assets and fiat currencies, or exchange transactions between different virtual assets. | 2,000,000 rupee(approximately $45,000) |
| Class O (wallets) / Class I (consult) | Class O transfers virtual assets on behalf of clients; Category I provides investment consulting or ITO financial advisory services. | No statutory fixed limit. Must provide sufficient provision to sustain in various market scenarios 12 Months of business operationor sufficient working capital to repay debt. |
Interpretation of official review rules: The actual self-owned funds held by the enterprise must be the "statutory minimum self-owned funds" and the "Prudential Requirement", That is, one quarter of the previous year’s fixed expenditures or one quarter of the initial financial forecast)” whichever is higher. Intangible assets such as goodwill must be deducted according to law before calculating the adequacy ratio.. If you apply for multiple categories, Capital requirements must be cumulative by law.
4. [Local substantivity and eligibility under FSC regulations (Fit & Proper) Review standards]
Substantial operation (Mind and Management): Applicants must register a company in Mauritius (such as GBC). A real physical office must be set up, Strategic decisions and risk management must be done locally.
Board Governance and Residency Requirements: The board of directors shall consist of at least 3 Directors, of which at least 30% Must be an independent director, and must contain at least 1 Permanent residents of Mauritius.
Legal compliance positions: According to the FIAMLR Regulations, Senior executive officers resident in Mauritius must be appointed in accordance with the law (Senior Executive), Compliance officer (Compliance Officer), money laundering reporting officer (MLRO) and deputy (DMLRO).
Five statutory dimensions of eligibility review: FSC will rely on financial soundness, Professional Education and Experience, Ability to perform duties, Five dimensions of credibility, character and no criminal record, for all UBO, Penetrating review of directors and senior executives.
5. [List of statutory review documents submitted through the FSCone platform]
| File category | Submission details of statutory requirements and interpretation of regulatory key points |
|---|---|
| Business Planning and Financial Forecasting | Detailed business plan. Must include an end-to-end flow chart for the circulation of legal currency and virtual assets. Before providing 3 Detailed financial forecast for the year (balance sheet, Profit and loss statement, cash flow statement). |
| AML/CFT and Internal Control Manual | KYC/CDD procedures in compliance with the Mauritius Financial Intelligence and Anti-Money Laundering Act, Automated transaction monitoring rule base, and the internal circulation path of suspicious transaction reports (STR). Conflict of Interest Management Policy. |
| Technical architecture and asset protection | Hot and cold wallet decentralized management strategy, Disaster recovery mechanism (BCP/DR), Technical response process for blockchain “forks”. Description of customer fund deposit and withdrawal process and physical isolation mechanism. |
6. Mauritius VASP License [Statutory Application and FSC Approval Process]
first stage: Corporate establishment and personnel appointment (about 2-4 week)
Setting up a Mauritius GBC entity. Leasing a physical office, Appoint permanent directors and local core executives (MLRO et al.). Open a corporate bank account and deposit initial paid-in capital.
second stage: Case filing and submission (about 4-8 week)
Write a business plan, AML/CFT Brochure, IT system description. Sort out executives’ suitability for UBO (Fit & Proper) Survey materials. Officially submitted through the FSCone platform.
The third stage: Substantive review and inquiry (about 3-5 months)
FSC conducts in-depth review of business models and mechanisms to prevent money laundering. If the applicant submits a request after the FSC issued the last inquiry 2 No adequate response provided within months, The application will be terminated according to law.
Stage 4: Approval in principle (IPA) and independent assessment
FSC issues “approval in principle” with conditions(IPA). Class S and Class M organizations are required by law to conduct system simulation tests and submit independent security assessment reports of the underlying technical infrastructure..
The fifth stage: Formal licensing and operation (total cycle 5-10 months)
After all prerequisites are met, FSC issues official VASP license. If complex DeFi protocols are involved, The overall cycle should be based on practical experience 9-14 Monthly estimate.
7. NFT Penetrating Classification Supervision and [Legal Requirements for ITO Token Issuance]
Pure digital collection NFT: Does not have payment or investment functions, Purely digital collectibles that cannot be transferred or exchanged outside the closed-loop system, Legally excluded from the regulatory scope of the VAITOS Act.
Securities NFT (fragmentation): “Fragmented NFTs” that have investment characteristics or allow many buyers to acquire fractional ownership, Legally designated as "securities" under the Securities Act of 2005, Must apply for securities dealer license, VASP license not applicable.
Virtual asset NFT: General NFT with transfer and exchange capabilities, Virtual assets falling under the VAITOS Act, its issuance, Custody or trading platforms must apply for the corresponding VASP license in accordance with the law.
Initial Coin Offering (THIS) Legal red line: The ITO must be conducted by a Mauritius registered company, and at least before the issuance period 45 Tianxiang completes registration with FSC. Must publish a compliance “white paper” signed by directors. Token purchasers are legally entitled to 72 hour unconditional right of withdrawal (after withdrawal 5 Refund must be made within 1 working day), The maximum issuance period shall not exceed 6 months.
8. Mauritius VASP License [Official Fees and Comprehensive Operating Budget]
| Funding and Expense Categories | Statutory Fee Requirements and Operating Budget Baselines (USD) |
|---|---|
| FSC official application and annual fee | Class S/I: Application fee $3,000, annual fee $5,000. Class M/O: Application fee $1,000, annual fee $1,900-$2,000. Class R: Application fee $1,500, annual fee $2,500. |
| Application support and architecture construction | GBC registration included, Compliance manual drafting and FSCone application agency, The estimated agency fee for the full process application and compliance support is approximately 15,000 to 40,000 Dollar between. |
| Statutory Compliance and Third-Party Audits | Mandatory annual statutory financial audits and independent cybersecurity assurance, Annual expenses are approximately 10,000 to 25,000 Dollar. |
| Local executive team compensation budget | Resident Senior Executive Officer, Compliance officer, An MLRO's total annual payroll budget typically requires planning 120,000 to 180,000 Dollar To maintain local substantive operations. |
9. Hong Kong Huitong's Mauritius VASP license legal agency service
GBC corporate establishment and substantive implementation
Apply for a Mauritius Global Business Company (GBC) Registration and physical office rental. Legally matched local resident executive who meets FSC eligibility review, Independent Director and Money Laundering Reporting Officer (MLRO).
Core legal documents and system construction
Write a document that includes end-to-end funding flows and 3 Annual financial forecast business plan. Preparation of FATF compliant AML/CFT policy manual, Internal Control Manual and Business Continuity and Disaster Recovery Plan (BCP/DR).
FSCOne application and independent audit docking
Agent submits case file to FSC and responds to written inquiries. Assist in connecting with compliant credit institutions to set up capital verification and isolation accounts, Liaise with third-party technical audit institutions to issue statutory system reliability assessment reports.
