In relation to Fintech projects, to be eligible for the Regulatory Sandbox Licence, the applicant must demonstrate that:

• 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 product, service or solution has potential to:
  • improve accessibility, efficiency, security, reliability or effectiveness for existing financial products or services;
  • benefit consumers of financial services.
• 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;
• the applicant will deploy the product, service or solution on a commercial scale in Mauritius after exit from the Sandbox or to deploy the product, service or solution on a commercial scale for the international market through Mauritius (for instance, setting up of the company’s Headquarters in Mauritius);
• the applicant is proposing adequate safeguards, terms and conditions to mitigate foreseeable risks associated with the project;
• the application will include a suitable exit or transition strategy if the proposed activity is to be discontinued or in the event that the RSL is revoked; and
• any other criteria as the NRSL Committee may deem necessary.