# Virtual Asset Wallet Services (Class O) (Mauritius)

Source page: https://protegra.io/licensing/licences/vasp/mauritius-class-o/

The Virtual Asset Wallet Services (Class O) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. It covers virtual asset transfer. It is valid in Mauritius only; each other market needs its own authorisation. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Virtual Asset Wallet Services (Class O) [1] |
| --- | --- |
| Issued by | [Financial Services Commission](https://protegra.io/licensing/regulators/fsc-mauritius/) |
| Jurisdiction | [Mauritius](https://protegra.io/licensing/jurisdictions/mauritius/) |
| Licence family | [Virtual asset service provider (non-MiCA)](https://protegra.io/licensing/licences/vasp/) |
| Legal basis | Virtual Asset and Initial Token Offering Services Act 2021 [1] |
| Passporting | Domestic only |

## What it lets you do

- [Virtual asset transfer (FATF)](https://protegra.io/licensing/activities/vasp-transfer/)

- **Virtual asset transfer (FATF).** Conducting transactions that move virtual assets between addresses or accounts on behalf of another person.

## Where it is valid

_Valid in Mauritius._

## 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. [2]

## Laws behind it

- [The Virtual Asset and Initial Token Offering Services Act 2021](https://protegra.io/licensing/laws/mu-vaitos-act-2021/): Act No. 21 of 2021

## Sources

1. [lawsofmauritius.govmu.org: web](https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=VmlydHVhbCBBc3NldCBhbmQgSW5pdGlhbCBUb2tlbiBPZmZlcmluZyBTZXJ2aWNlcyBBY3QgMjAyMQ==&docnumber=&doctype=act): retrieved 2026-09-24
2. [lawsofmauritius.govmu.org: web](https://lawsofmauritius.govmu.org/portal/viewlegislationdocument/web/?doctitle=RmluYW5jaWFsIFNlcnZpY2VzIEFjdA==&docnumber=&doctype=act): retrieved 2026-09-24

Last verified 2026-09-24 · Author: Danil Marmysh · Reviewed by Anastasia Sidorenkova · © Protegra. Data: CC BY 4.0, cite "Protegra Licensing Atlas". Not legal advice.