7 Types of crypto projects you should start in Mauritius (2026 Guide)

The cornerstone of the crypto ecosystem in Mauritius is the Virtual Asset and Initial Token Offering Services Act 2021. Known as the VAITOS Act, this legislation replaces regulatory uncertainty with a structured licensing system. It ensures that every participant in the ecosystem understands their obligations and rights.

LegalBison provides expert guidance for founders looking to navigate this landscape. We specialize in matching your business model with the correct license class to ensure long term compliance. Our team simplifies the complex path toward obtaining a crypto license in Mauritius.

The regulatory landscape: Why Mauritius in 2026?

In 2026, Mauritius remains a top choice for crypto projects due to its alignment with international standards. The Financial Services Commission (FSC) acts as the primary regulator for all virtual asset activities. This oversight gives institutional investors the confidence they need to engage with local platforms.

The tax benefits in Mauritius are highly competitive compared to other regulated hubs. The standard corporate tax rate is 15 percent, but many crypto firms qualify for a partial exemption. This 80 percent exemption on foreign source income can reduce the effective tax rate to 3 percent.

Compliance with the Financial Action Task Force (FATF) standards is a priority for the Mauritian government. This commitment ensures that businesses can maintain stable banking relationships and avoid international blacklists. The regulatory framework is divided into five distinct license classes, often remembered by the acronym MORIS.

The MORIS license framework

The VAITOS Act categorizes activities into five specific classes to ensure targeted oversight. These classes are:

• Class M: Virtual Asset Broker-Dealer;

• Class O: Wallet Services;

• Class R: Virtual Asset Custodian;

• Class I: Virtual Asset Advisory Services;

• Class S: Virtual Asset Market Place.

Understanding these categories is essential for any crypto license offshore strategy. Each class carries different capital requirements and operational obligations. Selecting the wrong class can lead to unnecessary costs or regulatory delays.

1. Centralized crypto exchange and marketplaces

Starting a centralized exchange (CEX) is a popular choice for entrepreneurs targeting the African and Asian markets. These platforms facilitate the buying and selling of virtual assets through an organized order book. In Mauritius, this activity typically falls under the Class S license for a Virtual Asset Market Place.

The Class S license allows you to operate a crypto exchange platform where various virtual assets are exchanged or traded. This model is ideal for projects that want to provide deep liquidity and a wide range of trading pairs. It requires a significant commitment to security and market integrity.

The minimum capital requirement for a Class S marketplace is MUR 6,500,000, which is approximately USD 145,000. You must also demonstrate robust systems for preventing market manipulation and ensuring fair price discovery. LegalBison can assist in drafting the necessary internal controls to satisfy the FSC.

2. Digital custody and safekeeping services

As institutional interest in digital assets grows, the demand for secure storage solutions has increased. A digital custody project in Mauritius focuses on the safekeeping of private keys on behalf of third parties. This business model is governed by the Class R license for Virtual Asset Custodians.

A custodian plays a vital role in the ecosystem by providing insurance and high level security for digital wealth. This license is particularly attractive for firms looking to serve pension funds, family offices, and high net worth individuals. Mauritius offers a stable legal environment for protecting these assets.

The minimum capital required for a Class R license is MUR 5,000,000, or roughly USD 112,000. Applicants must prove their technical capability to manage multi-signature wallets and cold storage solutions. Physical presence and resident staff with technical expertise are mandatory requirements for this category.

3. Crypto brokerage and OTC desks

A crypto brokerage or Over the Counter (OTC) desk facilitates large trades without an open order book. This model is preferred by institutional clients who wish to execute high volume transactions with minimal slippage. In the Mauritian framework, this activity requires a Class M Virtual Asset Broker-Dealer license.

Brokers act as intermediaries, either executing orders on behalf of clients or trading against their own account. This license provides the flexibility to source liquidity from multiple global exchanges. It is an excellent choice for founders with strong networks in the traditional finance sector.

The entry barrier for a brokerage is lower than for a full marketplace, with a capital requirement of MUR 2,000,000. This amount is approximately USD 45,000, making it a cost effective entry point into the market. LegalBison helps you structure your brokerage to comply with strict AML and KYC protocols.

4. Initial token offerings (ITO) launchpads

Mauritius provides one of the few formal legal frameworks for conducting an Initial Token Offering. The VAITOS Act outlines specific rules for issuers who want to raise capital through the sale of tokens. A launchpad project helps other startups navigate these rules and reach potential investors.

Registering as an issuer of virtual assets requires a high level of transparency and disclosure. You must publish a comprehensive white paper that details the project goals, risks, and tokenomics. This regulated approach protects investors and enhances the credibility of the fundraising project.

Launchpads can act as curators, ensuring that only high quality projects enter the market. They benefit from the legal certainty provided by the FSC, which reduces the risk of future regulatory crackdowns. This model is essential for the growth of the broader Web3 ecosystem in the region.

5. Crypto advisory and consultancy firms

For experts in blockchain technology and tokenomics, an advisory firm is a low capital business model. The Class I license for Virtual Asset Advisory Services allows you to provide professional investment advice. This includes recommending specific assets or strategies to retail and institutional clients.

Advisors play a crucial role in helping newcomers understand the risks and rewards of the crypto market. In Mauritius, being a licensed advisor sets you apart from unregulated “influencers” and build trust with clients. It is a prestigious designation that signals professional competence and ethical conduct.

The capital requirements for Class I are generally lower than for custodial or exchange services. This allows experts to focus their resources on talent acquisition and market research. LegalBison can guide you through the application process to ensure your advisory business meets the FSC standards.

6. Payment service providers with crypto integration

The remittance market in Africa is massive, and crypto integrated payment services are solving real world problems. A Payment Service Provider (PSP) in Mauritius can facilitate cross border transfers using stablecoins or other digital assets. This often involves a combination of a Payment Intermediary Services license and a Class O wallet license.

The Class O license covers the transfer of virtual assets and the management of digital wallets. By integrating these services, a company can offer faster and cheaper international payments than traditional banks. This model is highly scalable and addresses a significant pain point for businesses across the continent.

Operating such a project requires a deep understanding of both fintech regulations and virtual asset laws. Mauritius provides the perfect sandbox for testing these innovative payment corridors. Our team at LegalBison has extensive experience in banking services for crypto companies to support your operational needs.

→ See also: Forex license in Mauritius

7. NFT marketplaces and metaverse projects

Non Fungible Tokens (NFTs) and metaverse applications have evolved beyond simple digital art. In 2026, they represent ownership in virtual real estate, gaming assets, and intellectual property. Mauritius recognizes these as digital assets that can be traded under a Class S marketplace license.

A dedicated NFT marketplace provides a secure venue for creators to mint and sell their work. By operating under a license, the marketplace ensures that all participants undergo proper identity verification. This reduces the risk of money laundering and fraud within the digital art community.

Metaverse projects can also use Mauritius as a base for their internal economies. The clear definition of “Virtual Asset” in the VAITOS Act includes any digital representation of value. This legal precision allows developers to build complex virtual worlds with confidence in their legal status.

Requirements for formation: The LegalBison solution

Launching a crypto project in Mauritius requires more than just a business idea. You must establish a formal corporate structure, typically a Global Business Company (GBC). This entity must be incorporated through the Corporate and Business Registration Department before applying for a license.

Substance requirements are strictly enforced by the FSC to prevent shell companies from operating. You must maintain a physical office in Mauritius where your primary business activities take place. Additionally, the company must employ at least two resident directors of appropriate caliber.

Compliance is another critical pillar of the Mauritian setup. Every licensee must appoint a Money Laundering Reporting Officer (MLRO) and a Compliance Officer. These roles are essential for maintaining the integrity of the business and fulfilling regulatory reporting duties.

The VAITOS Act provides a comprehensive framework that balances innovation with investor protection. It is a gold standard for digital asset regulation in the 2026 landscape.

Why choose LegalBison?

LegalBison is your dedicated partner for Mauritius company formation and licensing. We understand the nuances of the “MORIS” license classes and how they apply to modern business models. Our approach is designed to save you time and reduce the administrative burden of market entry.

We offer an end to end service that covers every stage of your journey. This starts with a consultation to determine the best license class for your specific project. We then handle the incorporation, document drafting, and the formal application to the FSC.

Our support does not end once you receive your license. We assist with bank account opening and ongoing compliance to ensure your business remains in good standing. With LegalBison, you gain access to a network of experts who are committed to your success in Mauritius.

Get your license in Mauritius with LegalBison

Mauritius offers a rare combination of legal certainty, tax efficiency, and a strategic location. Whether you are launching a centralized exchange or a DeFi advisory firm, the VAITOS Act provides the tools you need. By choosing a regulated path, you protect your investment and build a brand that can scale globally.

The journey toward obtaining a VASP license requires careful planning and professional expertise. The 5 to 9 month timeline reflects the thoroughness of the FSC in vetting new market participants. However, the rewards of operating in a top tier jurisdiction like Mauritius are well worth the effort.

Ready to launch your crypto project? Contact LegalBison today for a free consultation on your Mauritius VASP license application.