COUNTRIES & BUSINESS ROUTES

The right country.
For the business you want to build.

Company formation, crypto, fiat payments or a new operating base. Understand what a jurisdiction could solve, what it requires and how to take the next step through PAYMESE.

COMPANY SETUP

A software or service business abroad.

Compare Estonia, the UK and Cyprus around management, reinvestment and operating costs.

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CRYPTO & FIAT

A crypto business that also needs payments.

See how a Canadian MSB and EU crypto routes differ, and assess the fiat side separately.

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PAYMENT SERVICES

A new payment product in the right market.

Compare customer markets, payment permissions and partner dependencies before committing.

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A country guide explains possible routes. It does not mean a company or provider is currently available in that market.

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Comparison of Mauritius
What mattersMauritius
Why consider itStart by separating the activities customers will use. If your proposed business combines a wallet, fiat transfers and securities dealing, record which legal entity would provide each service. The Financial Services Commission, Mauritius (FSC) also licenses capital-markets intermediaries such as investment dealers. Check the exact dealer licence category and permitted activities rather than relying on the description in a sale proposal.
Crypto servicesThe FSC regulates and supervises virtual asset service providers and issuers of initial token offerings under the Virtual Asset and Initial Token Offering Services Act 2021 (VAITOS Act), in force since February 2022. The VASP classes are M (Virtual Asset Broker-Dealer), O (Virtual Asset Wallet Services), R (Virtual Asset Custodian), I (Virtual Asset Advisory Services) and S (Virtual Asset Market Place, or exchange). Verify the classes held by the target in the FSC register and match them to the proposed services. Holding one class does not authorise activities that require another.
PSP & fiat servicesThe Bank of Mauritius licenses payment service providers under the National Payment Systems Act 2018. Review the specific payment services and conditions covered by the licence. The Act does not allow a licence to be transferred unless the central bank specifies otherwise in writing. Ask advisers how the licence and its conditions apply to the proposed ownership change. Banks and licensees under that Act need prior written approval from the Bank of Mauritius before applying for VASP permissions. For Classes M, O and S, the application must be made through a separate subsidiary.
Company & operationsFSC guidance says a VASP applicant must be a Mauritian company carrying on business in or from Mauritius, directed and managed there, with a physical office there. Its controllers, beneficial owners and officers must meet the FSC’s fit-and-proper criteria. The FSC FAQ says prior approval is required for share transfers that change control or fall outside the notification-only thresholds. It also identifies appointments of controllers, beneficial owners and officers as requiring FSC approval. Confirm what the proposed transaction and appointments trigger before agreeing how to close.
Tax & total costGive your advisers the proposed ownership chart and explain where decisions, work and customer relationships will sit. Ask them to review the actual transaction structure and set out which tax and reporting matters belong to the company, its owners or another group entity.
Banking fitTrace a customer payment and a settlement from start to finish. Identify who provides the accounts and settlement services, which relationships the target relies on and what each partner would need to review after an ownership change. Check how the business handles failed settlements, unresolved balances and escalation to its partners.
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Start with the problem you need to solve.

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CHOOSING THE COMPANY OR PROVIDER

Compare what makes the offer work.

The country is one decision. The company, permissions, people and commercial terms are the next.

01What you actually receive
Company shares or assets, an application service, a partner contract or software. Ask for inclusions, exclusions and the party responsible for delivery.
02Permissions and operating history
For a regulated company or provider, confirm the current registry entry, exact services, restrictions, liabilities and any change-of-control conditions.
03The full cost to operate
Compare price, capital, local staff, compliance, accounting, software, banking fees and any reserves. Include the conditions and timing of any claimed tax benefit.
04Banking and technology continuity
Confirm account and partner acceptance, settlement terms, code and data ownership, service support and what must be re-approved after a transaction.

Questions that change the decision.

Should I choose a country just for a lower tax rate?

Compare the full outcome: company and owner tax residence, where decisions and work happen, dividends or reinvestment, accounting, staffing and any relief conditions. A company formed abroad may still create tax obligations where it is managed or operated. Ask for a written comparison of your current structure and the proposed one.

Compare tax and operating considerations
Can one company handle crypto, fiat payments and technology?

Sometimes a structure can combine them, but each activity needs to be mapped. Identify who holds assets, moves customer money, issues stored value and supplies software. The answer may involve several permissions or separate licensed partners. A software platform alone does not provide the right to perform regulated services.

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Should I buy an existing company, start a new one or use a partner?

Compare the same target product across all three routes. An acquisition may bring an existing operation but also liabilities and ownership approvals. A new application lets you define the model but needs preparation and resources. A partner route depends on the partner’s actual permissions, commercial terms and acceptance of your business.

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What if banks consider my business higher risk?

Prepare a clear explanation of customers, ownership, source of funds, transaction corridors, asset types, volumes and controls. Compare providers by their stated acceptance criteria and ability to assess that evidence. No jurisdiction or licence guarantees banking; the provider makes its own onboarding decision.

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What if the marketplace has no matching offer yet?

Submit a buying or service request with the capabilities, market and timing you need. PAYMESE can review the brief and potential matches. Your company and contact details remain private until the agreed introduction process is complete.

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General information to support an initial comparison. Legal, tax and regulatory conclusions require a review of your circumstances by appropriately qualified advisers.

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