Mauritius is an international financial centre in the Indian Ocean used mainly as a platform for investment into Africa and Asia, with a dual regulator model: the Bank of Mauritius for banks and payment service providers, and the Financial Services Commission for securities, global business and virtual assets. It offers distinct banking licences for private banking and digital banking, and was one of the first African jurisdictions with a dedicated virtual asset statute.
Risk flagStandard
FATFNot listed
EU AML high-risk listNot listed
EU tax listNot listed
Licence regimes10
CurrencyMUR
Moody's ratingBaa3
Next electiondue by 2029
Not on the FATF grey or black lists after the June 2026 plenary (17 to 19 June 2026); Mauritius was grey listed in February 2020 and removed in October 2021 (Bank of Mauritius release of 21 October 2021). Not on the EU high-risk list (consolidated text of 29 January 2026; Mauritius was deleted by Delegated Regulation (EU) 2022/229) and not in Annex I of the EU tax list (Council update of 17 February 2026). Checked 7 October 2026.
Government and politics
Government
Parliamentary republic
President
Dharam Gokhool · since December 2024
Prime Minister
Navin Ramgoolam (Labour Party)
Governing parties
Alliance du Changement: Labour Party, Mauritian Militant Movement (MMM), New Democrats, Rezistans ek Alternativ
Last election
General election, 10 November 2024
Next election
General election, due by 2029. Deputy Prime Minister Paul Bérenger resigned in March 2026 and left the MMM in April 2026; most MMM MPs stayed in government.
Legislature
National Assembly (unicameral; 62 directly elected members plus additional 'best loser' seats)
Legal system
Mixed system based on French civil law with elements of English common law
Economy and finance
Population
1.2m (2025)
GDP
USD 16.1bn (2025)
GDP per person
USD 12,977 (2025)
Currency
Mauritian rupee (MUR), managed float
Central bank
Bank of Mauritius
Credit rating
Moody's Baa3 (negative) (as of May 2026)
A diversified upper middle-income economy built on tourism, textiles, sugar and a global business and fund sector that channels investment into Africa and India, regulated by the Financial Services Commission.
Bank
Banking licence
Minimum capitalStated or assigned capital of not less than MUR 400 million, or the equivalent in a freely convertible currency, or such higher amount as may be prescribed, after deduction of accumulated losses (s. 20(1))
TimelineNot published
AuthorityBank of Mauritius
Stated or assigned capital of not less than MUR 400 million, or the equivalent in a freely convertible currency, or such higher amount as may be prescribed, after deduction of accumulated losses (s. 20(1))
Law
Banking Act 2004 (Act 35 of 2004), s. 7 (licensing) and s. 20 (minimum capital)
Passporting
No passport. Licence valid for Mauritius only.
Key requirements
Stated or assigned capital of at least MUR 400 million maintained in Mauritius on an ongoing basis
Risk-based capital ratio as set by the Bank of Mauritius (s. 20(2))
A foreign bank applying for a branch or subsidiary must be a reputable international bank under consolidated supervision (s. 7(3))
Prior approval needed to open, close or move a place of business; licence not transferable without approval
Banking licence to carry on exclusively private banking business
Minimum capitalMay start with MUR 200 million where the business is mainly wealth management without significant risk assets, rising to MUR 400 million in phases within five years or a shorter period set by the Bank
TimelineNot published
AuthorityBank of Mauritius
May start with MUR 200 million where the business is mainly wealth management without significant risk assets, rising to MUR 400 million in phases within five years or a shorter period set by the Bank
Law
Banking Act 2004, s. 7(7D); Bank of Mauritius Guideline on Private Banking (BOM/BSD 38, revised 6 December 2021)
Passporting
No passport.
Key requirements
Clients must be high net worth: investable assets of at least USD 500,000 or annual income of at least USD 150,000 (or legal structures with at least USD 500,000)
May hold, store or sell precious metals for client portfolios and provide safe vault services (s. 7(7D)(b))
Bank may exempt the licensee from some provisions of the Act and impose specific conditions
Banking licence to carry on exclusively digital banking business
Minimum capitalMUR 200 million to start as a restricted digital bank; MUR 400 million at the end of the restricted phase
TimelineNot published
AuthorityBank of Mauritius
MUR 200 million to start as a restricted digital bank; MUR 400 million at the end of the restricted phase
Law
Banking Act 2004, s. 7(7E) (inserted by Act 7 of 2020); Bank of Mauritius Guideline for Digital Banks (BOM/BSD 43, December 2021)
Passporting
No passport.
Key requirements
Banking business carried on exclusively through digital means or electronically
Principal place of business in Mauritius, at least ten qualified full-time officers including CEO and Deputy CEO, annual operating costs of at least MUR 25 million
At least one Mauritian citizen resident in Mauritius on the board
Mobilisation period limits: deposits only from shareholders, employees and related parties, assets up to MUR 1 billion, capital adequacy ratio of 15 per cent
Must apply to exit the restricted phase at least 90 days before the transitional period expires
Starts as a restricted digital bank: mobilisation period of up to 2 years, then a transitional period of up to 3 years
Non-refundable processing fee set out in Schedule I of the National Payment Systems Act 2018 (amount not verified)
Passporting
No passport.
Key requirements
Covers cash placement and withdrawal, execution of payment transactions, card issuing and merchant acquiring, money remittance, payment initiation, account information services, and other money transfer services including issuing electronic money
Fit and proper questionnaire for directors, shareholders and officers
Letters of comfort from significant shareholders to support capital
The VAITOS Act 2021 came into force on 7 February 2022. VAITOS also provides for registration of issuers of initial token offerings; banks and NPS licensees need Bank of Mauritius written approval before applying for any VASP licence. Where a VASP holds several classes, capital requirements are combined. The FSC website (fscmauritius.org) blocked automated access to its licensing criteria during this check, so the investment dealer capital figures, FSC application and annual fees, the payment intermediary services licence, and global business licence details could not be opened and are left out or null rather than estimated. Bank of Mauritius payment service provider capital and the Schedule I processing fee of the National Payment Systems Act 2018 were also not verified (the published Act copy is a scanned image). Remote gambling (Gambling Regulatory Authority) was not checked against an official source and is not covered here. Non-bank deposit taking institutions must hold stated capital of at least MUR 200 million under the Banking Act.
General information
About Mauritius
Natural Earth boundaries. Map is indicative.
Status
Sovereign state
Capital
Port Louis
Area
2,040 km²
Official languages
English, French, Mauritian Creole
Time zone
UTC+04:00
Main exports
Fish
Garments
Raw sugar
Fertilizers
Diamonds
Tourism and financial services
Main export partners
United States
France
Zimbabwe
South Africa
Zambia
Sources for the country information(10)
Country information checked 9 October 2026. Licensing data updated 7 October 2026. Information only, not legal advice; requirements change. Regulatory notice.
