Virtual Asset Broker-Dealer (Class M) (Mauritius)
The Virtual Asset Broker-Dealer (Class M) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. The legal decision period is No fixed statutory deadline; Section 17C(2)(b) of the Financial Services Act 2007 explicitly exempts applications for licences under the Second Schedule to the VAITOS Act 2021 from the 10-working-day determination requirement in Section 17B. The application fee is MUR 2,000,000 minimum capital requirement.
At a glance
| Official name | Virtual Asset Broker-Dealer (Class M)1 |
|---|---|
| Issued by | Financial Services Commission |
| Jurisdiction | Mauritius |
| Licence family | Virtual asset service provider (non-MiCA) |
| Legal basis | Virtual Asset and Initial Token Offering Services Act 20211 |
| Passporting | Domestic only |
| Application fee | MUR 2,000,000 minimum capital requirement2 |
| Statutory decision time | No fixed statutory deadline; Section 17C(2)(b) of the Financial Services Act 2007 explicitly exempts applications for licences under the Second Schedule to the VAITOS Act 2021 from the 10-working-day determination requirement in Section 17B3 |
What it lets you do
- Virtual asset exchange (FATF). Exchanging virtual assets for fiat currency or for other virtual assets as a business, as defined in the FATF glossary.
Where it is valid
Cost
Buying a company that already holds it
Prior approval required. Under Section 23 of the Financial Services Act 2007 and Section 16 of the VAITOS Act 2021, any issue or transfer of shares or legal or beneficial interest in a licensee requires the prior approval of the FSC, and any unauthorized transfer is void. Prior approval is not required for transfers under 5% (unless resulting in an individual holding over 20% or a change of control) or transfers to existing shareholders that do not alter control, both of which require written notification to the Commission. A controller is defined as any person holding or controlling not less than 20% of shares or voting power, or able to exercise significant influence, or holding board appointment/removal powers. Controllers and beneficial owners are subject to fit and proper vetting.3
Laws behind it
- The Virtual Asset and Initial Token Offering Services Act 2021: Act No. 21 of 2021
Sources
- lawsofmauritius.govmu.org: web · retrieved 2026-09-24
- salvusfunds.com: establishing a vasp under the vaitos act in mauritius in 202 · secondary · retrieved 2026-09-24
- lawsofmauritius.govmu.org: web · retrieved 2026-09-24
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