VAITOS Class I -Advisory
License for providing advisory services on virtual asset investments and strategy consulting.
VAITOS Act 2021, Securities Act 2005
Capital Required
MUR 3,000,000 (approx. USD 67,000)
Timeline
3-6 months
Fees
USD 1,000-2,000 application + USD 2,000-3,000 annual
Regulatory Body
Financial Services Commission (FSC) Mauritius
Legislative Framework
Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), Financial Services Act 2007, Securities Act 2005
Last updated: August 2025
Key Requirements
Minimum paid-up capital of MUR 3,000,000 with quarterly capital adequacy reports to FSC
Comprehensive advisory framework with documented investment advisory process and suitability procedures
Conflict-of-interest management policies addressing tied relationships, fee arrangements, and trading restrictions
Chief Compliance Officer with investment advisory experience and FSC fit-and-proper approval
Professional indemnity insurance of minimum MUR 750,000 covering advisory errors and liabilities
Clear advisory agreements aligned with Securities Act specifying service scope, fees, and disclaimers
Portfolio management documentation systems recording investment recommendations and assessments
Annual professional development requirements for advisory staff with maintained certifications documented
Application Process
Submit VAITOS Class I advisory license application with description of advisory services and segments
Provide organizational structure with Chief Compliance Officer CV and investment advisory background
Include compliance manual with suitability assessment procedures, conflicts-of-interest policies, and standards
Submit sample advisory agreements, fee schedules, and prospectuses aligned with FSC transparency
Provide evidence of minimum capital MUR 3,000,000 and professional indemnity insurance certificate
FSC review and approval following evaluation of advisory process and client protection framework
Expected Total Timeline
3-6 months
Ongoing Obligations
After obtaining your VAITOS Class I -Advisory, these are the continuing compliance requirements you must maintain.
Quarterly compliance certifications confirming adherence to suitability standards and conflicts management
Quarterly capital adequacy reports and annual independent audit by FSC-approved auditors
Annual fit-and-proper assessments for Chief Compliance Officer with mandatory VARA notification of changes
Annual review of professional indemnity insurance with renewal certificates provided to FSC
Quarterly reporting of material client complaints and disputes with written analysis and actions
Maintain documentation systems for regulatory audits with full access to advisory files and communications
Cost Summary
Capital Requirement
MUR 3,000,000 (approx. USD 67,000)
Application & Licensing Fees
USD 1,000-2,000 application + USD 2,000-3,000 annual
Jurisdiction Setup Cost
$15,000-$35,000
Annual: $20,000-$50,000
Other Mauritius Licenses
Explore other license types available in Mauritius.
VAITOS Class M -Broker-Dealer
VAITOS Class O -Wallet & Transfer
VAITOS Class R -Custodian
VAITOS Class S -Marketplace/Exchange
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