Setting up a cryptocurrency company in Mauritius implies several steps. One of the most important is applying for a crypto license in Mauritius. No matter if you have experience or not, you can open such a business here with the help of our company incorporation specialists in Mauritius.
| Quick Facts | |
|---|---|
| Special legislation available (YES/NO) | The Virtual Assets and |
Regulatory authorities | The Mauritius National Bank and the Financial Services Commission |
Types of entites used to register | The LLC, the Special License company and the offshore company can be used to launch a crypto business in Mauritius |
| Local manager required (YES/NO) | YES, at least one resident director must be appointed |
| Minimum capital requisites (YES/NO) | 35 million rupees (approx. 800,000 USD) |
| License required (YES/NO) | YES, at least one resident director must be appointed |
| Licensing exceptions (YES/NO) | Yes, a crypto license must be obtained from |
| Timeframe to register the company (approx.) | Approx. 3 weeks |
| Anti-money laundering regulations applicable (YES/NO) | YES, cryptocurrency companies in Mauritius must respect anti-money laundering regulations |
| Specific requirements for foreign investors (YES/NO) | There are no specific requirements to be respected by foreign investors seeking to set up cryptocurrency companies in Mauritius |
| Activities permitted for crypto companies | Selling and buying cryptocurrencies, ICOs, electronic wallet services, crypto-based investment fund creation |
| Other special requirements applicable (YES/NO) | The company must have a legal address in Mauritius, at least 30% of its management board must be independent |
| Taxation of crypto companies in Mauritius | There are no specific taxes to pay in relation to cryptocurrencies in Mauritius |
| Why choose Mauritius | Mauritius is a friendly foreign investment destination, it also has a new and modern legislation providing for crypto businesses, it provides for clear registration and licensing requirements for such activities |
| Support in launching a cryptocurrency business (YES/NO) | YES, we offer cryptocurrency company formation services in Mauritius |
Table of Contents
Are cryptocurrencies legal in Mauritius?
Yes, they are acknowledged under a special law, the Virtual Asset and Initial Token Offering Services Act; however, they are not considered legal tenders.
Can I start a cryptocurrency company in Mauritius as a foreigner?
Yes.
What are the steps to open a cryptocurrency business in Mauritius?
You need to follow the regularcompany registration procedure in Mauritius, specifically:
- select an appropriate legal form;
- reserve the company name;
- draft the Articles of Association;
- file the documents with the Companies Register;
- apply for a tax number;
- apply for the crypto license.
The legal entity that can be used for such activities is the offshore company in Mauritius; however, in this case, it is also advisable to check the regulations in the country offering the services.
What are the requirements to set up a crypto company in Mauritius?
Here they are:
- the company must have at least 2 resident directors (our local specialists can assist if you want to apply for a Mauritius residence and work permit);
- a local address must also be provided upon registering the company;
- the enterprise must also have a Compliance Officer, a Money Laundering Reporting Officer, and a Deputy Money Laundering Reporting Officer.
NOTE: Foreign investors must appoint a local registered agent to incorporate the company. You can rely on us for specialized services for this purpose.
What types of crypto licenses can I apply for in Mauritius?
There are several types of VASP licenses available in Mauritius. The type of authorization obtained will also dictate the activities the crypto business can undertake, namely:
- the category M crypto license in Mauritius is available for those interested in crypto exchange for currency or crypto-to-crypto exchanges under the form of brokers, dealers, or market participants;
- the category O license is available for those interested in operating as virtual wallet service providers and/or offering virtual asset transfer solutions;
- the category R license can be obtained by Mauritius Virtual Asset Service Providers seeking to offer crypto storage and management solutions;
- the category I license is for crypto advisory services and other activities related to the sale and offer of digital coins;
- the category S license is for those interested in operating cryptocurrency platforms that ease virtual asset transactions.
Are there minimum crypto licensing requirements in Mauritius?
Yes, as follows:
- MUR 2 million for a Class M license;
- MUR 5 million for a Class R license;
- MUR 6,5 million for a Class S license;
- sufficient working capital for Class O and Class I licenses.
What are the requirements to obtain a crypto license in Mauritius?
The following must be ensured:
- the minimum share capital for such a business is 35 million rupees;
- 30% of the director’s board must be named independently;
- the company must also have a permanent legal seat in Mauritius.
From a compliance point of view, it is important to note that the company must file financial statements under special deadlines, as follows:
- no later than 45 days after the end of the quarter it is reported for;
- the annual audited financial statements must be filed no later than 90 days from the balance sheet date.
What are the documents required to obtain a VASP license in Mauritius?
Here are the documents to prepare for filing with the FSC when applying for a crypto license in Mauritius:
- a business plan;
- the management and governance composition of the company;
- the Anti-money Laundering and Counter-Terrorism Financing policies;
- the Know-Your-Client forms;
- the Whitepaper of the virtual asset, as requested in Section 4 of the VAITOS Act;
- the asset’s classification, in accordance with the FSC rules;
- the company’s Incorporation Certificate;
- the details of the officer to be appointed in accordance with the FSC regulations;
- the details of the Senior Executive Officer appointed by the management board;
- the company’s audited financial statements;
- proof of payment of the application fee.
It takes about 6 months to have the crypto license issued. Also, if you are interested in another type of financial venture, we can help you apply for a Forex license in Mauritius.
If you are interested in starting a cryptocurrency business in another country, such as Malta, we can put you in touch with our local partners.
If you need legal services in another country, such as the USA, we can put you in touch with our American partner lawyers.
If you want to open a cryptocurrency company in Mauritius, please contact us.
