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Mauritius: fintech & payments regulation

Regulated

Mauritius fintech & payments: dual oversight by BoM and FSC under 2018/2021 Acts

Lead regulator:
Bank of Mauritius
Key law:
National Payment Systems Act 2018
Last updated:
2026-07-12

Mauritius maintains a comprehensive regulatory framework for fintech and payments, primarily overseen by the Bank of Mauritius (BoM) under the National Payment Systems Act 2018 and its 2021 Regulations. The BoM licenses payment service providers, clearing, and settlement systems, enforcing strict capital, fit-and-proper, and customer fund segregation requirements.

The Financial Services Commission (FSC) regulates broader financial services, including digital asset custodians, security token offerings, and robo-advisory services under the Financial Services Act 2007. The FSC also oversees peer-to-peer lending, crowdfunding, and family offices, maintaining a dedicated regulatory sandbox for fintech innovation.

Recent regulatory developments include the 2026 Family Office Rules mandating USD 5 million in assets, updated licensing fees, and specific guidance on NFTs and security tokens. The regime is active and evolving, with clear pathways for licensing digital asset and payment service providers.

Who regulates

  • Bank of Mauritius

    Primary regulator for national payment systems, payment service providers, clearing and settlement systems, and banks.

    [1][2][3]

  • Financial Services Commission

    Regulator for financial services including digital asset custodians, security token offerings, robo-advisory, P2P lending, crowdfunding, and family offices.

    [4][5][6][7]

Core laws & rules

  • National Payment Systems Act (2018)

    Establishes the Bank of Mauritius as the primary authority for regulating national payment systems and designates a licensing framework for payment service providers.

    [1][2]

  • National Payment Systems (Authorisation and Licensing) Regulations (2021)

    Provides the detailed authorization and licensing framework for payment, clearing, and settlement systems, including eligibility criteria and fit-and-proper requirements.

    [3][8]

  • Financial Services Act (2007)

    The primary legislation under which the FSC regulates various financial services, including digital assets, crowdfunding, and family offices, via consolidated licensing rules.

    [9][10][11]

Licensing & registration

  • Payment Service Provider

    Requires authorization under the National Payment Systems Act 2018 and Regulations 2021. Licensees must segregate customer funds, submit annual financial compliance reports, and meet fit-and-proper director criteria.

    [3]

  • Digital Asset Custodian

    Entities providing custody services for digital assets must be licensed by the FSC, maintain a local office, and meet minimum capital thresholds.

  • Security Token Offering / Trading System

    Comprehensive licensing framework established by FSC guidance notes for STOs and security token trading systems, treating them as digital representations of traditional securities.

    [7]

  • Robo-Advisory

    Dedicated licensing framework for robotic and AI-enabled advisory services, requiring minimum capital of MUR 600,000 and professional indemnity insurance of MUR 2 million. Capital: MUR 600,000

  • Peer-to-Peer Lending

    Mandatory licensing for P2P lending operators with specific capital thresholds and borrowing/lending limits for natural and legal persons.

  • Crowdfunding

    Mandatory licensing for crowdfunding platforms, requiring MUR 2 million in capital and strict operational frameworks. Capital: MUR 2,000,000

    [12]

  • Family Office

    Licensing for Single and Multiple Family Offices, with a minimum aggregate asset threshold of USD 5 million. Capital: USD 5,000,000

    [4][13]

Restrictions & warnings

  • Payment service providers must segregate customer money from business financing and submit annual financial compliance reports.

  • NFTs are exempt from regulation if they are digital collectibles not used for payment or investment; those functioning as securities or payment instruments are regulated.

    [6]

  • Family Offices are restricted to serving family members and their private wealth structures, with specific asset thresholds.

    [14][4]

Direction of travel

  • The FSC maintains a regulatory sandbox for fintech innovation, allowing firms to test new products in a simulated or live environment.

    [5]

  • Regulatory fees and licensing frameworks are actively updated, with recent amendments in 2024 and 2025 adjusting processing fees and reinstatement windows.

    [9][10][15]

Sources

  1. The National Payment Systems Act 2018 · 2026-06-15
  2. National Payment Systems Act 2018 · 2025-08-27
  3. National Payment Systems (Authorisation and Licensing) Regulations 2021 · 2024-12-16
  4. Financial Services (Family Office) Rules 2026 · 2026-01-01
  5. Regulatory Sandbox Guidelines · 2023-10-31
  6. Guidance Notes on the Regulatory Treatment of Non-Fungible Tokens · 2022-11-30
  7. Guidance Notes on Security Token Offerings and Security Token Trading Systems · 2022-08-25
  8. National Payment Systems (Authorisation and Licensing) Regulations 2021 · 2021-06-01
  9. Financial Services (Consolidated Licensing And Fees) (Amendment) Rules 2026 · 2026-01-01
  10. Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2025 · 2025-01-01
  11. Guidelines for Determination of Completeness of an Application for a Licence · 2024-12-10
  12. Financial Services (Crowdfunding) Rules 2021 · 2021-01-01
  13. Financial Services (Family Office) (Amendment) Rules 2022 · 2022-01-01
  14. Financial Services (Family Office) (Amendment) Rules 2021 · 2021-01-01
  15. Financial Services (Consolidated Licensing and Fees) (Amendment) Rules 2024 · 2024-01-01

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This guide is compiled automatically from 15 primary-source documents published by Mauritius's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.