Establishing a VASP under the VAITOS Act in Mauritius in 2023
Mauritius is renowned as a flourishing international financial centre and growing FinTech hub. It stands out among the leading nations in the Eastern and Southern African regions by implementing comprehensive legislation concerning Virtual Assets (VA) and Initial Token Offerings (ITO). This was accomplished through the enactment of the Virtual Asset and Initial Token Offering Services (VAITOS) Act in early 2022.
The VAITOS Act empowers the Financial Services Commission (FSC) of Mauritius, to oversee and regulate Virtual Asset Service Providers (VASP) and ITO issuers functioning within the non-bank financial services sector in Mauritius. Consequently, any company aiming to engage in VA activities or ITO, either within or from Mauritius, shall require a license from the FSC. Authorised VASP are then required to operate within a robust prudential framework and adhere to sound market conduct guidelines.
In this article, the SALVUS Crypto Assets Licensing team furnishes essential information on the benefits and requirements of obtaining a license under the VAITOS Act in Mauritius. The article is divided into the following sections:
- Why establish a VASP in Mauritius?
- What is the VAITOS Act?
- License categories and capital requirements
- How SALVUS can support your VASP application
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Find the full article here: https://salvusfunds.com/2023/12/06/establishing-a-vasp-under-the-vaitos-in-mauritius-in-2023/
