GUIDELINES FOR FINTECH PROJECTS
The Regulatory Sandbox License (RSL) offers the possibility for an investor to conduct a business activity for which there exists no legal framework, or adequate provisions under existing legislation in Mauritius.
The RSL is issued by the Economic Development Board (EDB) to eligible companies willing to invest in innovative projects according to an agreed set of terms and conditions for a defined period.
If you wish to consult the Guidelines to apply for a Regulatory Sandbox Licence for Fintech Projects, please click on ‘Learn More’.
In relation to fintech projects, to be eligible for the RSL, the applicant must demonstrate the following:
- the product, service or solution being developed is genuinely innovative, i.e. it is novel and not similar to those already available in the market;
- the use of emerging technology or the use of existing technology in an innovative manner in financial services;
- the project will contribute to the development of local skills and know-how;
- the provision of the new product, service or solution is either wholly or partly incompatible with the current regulatory requirements in Mauritius
- the applicant has conducted an assessment to demonstrate the usefulness and functionality of the product, service or solution and understands the associated risks;
- the applicant has the necessary resources to participate in Sandbox, mitigate and control potential risks and losses arising from the offering of such product, service or solution;
MODE OF APPLICATION
The Applicant should submit a formal application with a business plan and other relevant documents on email@example.com, and should the application be approved under the RSL Scheme, the Applicant should present the original documents to the EDB in order to obtain the RSL.
Disclaimer: The above list is provided for guidance and is not exhaustive. The EDB will assess the information provided on its own merits and may require additional information to determine the application.