# Virtual Asset Custodian (Class R) (Mauritius)

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

The Virtual Asset Custodian (Class R) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. The application fee is MUR 5,000,000 minimum capital requirement. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Virtual Asset Custodian (Class R) [1] |
| --- | --- |
| Also known as | VAITOS Class R licence · VASP Class R · Mauritius virtual asset custodian licence · FSC Mauritius Class R VASP licence · Mauritius crypto custody licence |
| 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 |
| Application fee | MUR 5,000,000 minimum capital requirement [2] |

## What it lets you do

| [Virtual asset safekeeping (FATF)](https://protegra.io/licensing/activities/vasp-custody/) | Safekeeping or administering virtual assets, or instruments enabling control over them, for another person. |
| --- | --- |

## Where it is valid

_Valid in Mauritius._

## Cost

_Regulatory costs from the official sources above. Professional fees, staff, office and audit come on top and depend on the business model._

## 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]

## VASP in other countries

| Country | Licence | Regulator | Min. capital | Application fee | Statutory time |
| --- | --- | --- | --- | --- | --- |
| [Abu Dhabi Global Market (ADGM)](https://protegra.io/licensing/licences/vasp/adgm/) | VASP licenceFinancial Services Permission with Virtual Asset Activities Endorsement | FSRA | USD 250,000 | USD 20,000 |: |
| [Australia](https://protegra.io/licensing/licences/vasp/australia/) | VASP licenceRegistration as a virtual asset service provider (VASP) on the AUSTRAC Virtual Asset Service Provider Register (formerly the Digital Currency Exchange Register) | AUSTRAC |: |: |: |
| [Bermuda](https://protegra.io/licensing/licences/vasp/bermuda-f/) | Digital Asset Business Class F (Full) Licence | BMA |: |: |: |
| [Bermuda](https://protegra.io/licensing/licences/vasp/bermuda-m/) | Digital Asset Business Class M (Modified) Licence | BMA |: |: |: |
| [Bermuda](https://protegra.io/licensing/licences/vasp/bermuda-t/) | Digital Asset Business Class T (Test) Licence | BMA |: |: |: |
| [British Virgin Islands](https://protegra.io/licensing/licences/vasp/bvi/) | Virtual Assets Service Provider Registration | BVI FSC |: |: |: |
| [Cayman Islands](https://protegra.io/licensing/licences/vasp/cayman-islands-licence/) | Virtual Asset Service Provider Licence | CIMA |: | KYD 5,000 |: |
| [Cayman Islands](https://protegra.io/licensing/licences/vasp/cayman-islands-registration/) | Virtual Asset Service Provider Registration | CIMA |: | KYD 1,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-advisory/) | Virtual Asset Advisory Services Licence | VARA | AED 100,000 | AED 40,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-broker-dealer/) | Virtual Asset Broker-Dealer Services Licence | VARA | AED 600,000 | AED 100,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-custody/) | Virtual Asset Custody Services Licence | VARA | AED 600,000 | AED 100,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-exchange/) | Virtual Asset Exchange Services Licence | VARA | AED 1,500,000 | AED 100,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-lending-borrowing/) | Virtual Asset Lending and Borrowing Services Licence | VARA | AED 500,000 | AED 100,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-management-investment/) | Virtual Asset Management and Investment Services Licence | VARA | AED 500,000 | AED 100,000 |: |
| [Dubai (VARA)](https://protegra.io/licensing/licences/vasp/dubai-transfer-settlement/) | Virtual Asset Transfer and Settlement Services Licence | VARA | AED 500,000 | AED 40,000 |: |
| [Dubai International Financial Centre (DIFC)](https://protegra.io/licensing/licences/vasp/difc/) | Financial Services Permission with Crypto Token Activities Endorsement | DFSA | USD 1,000,000 | USD 15,000 |: |
| [El Salvador](https://protegra.io/licensing/licences/vasp/el-salvador/) | Proveedor de Servicios de Activos Digitales (PSAD) registration | CNAD | USD 2,000 | USD 5,475 | ~0.9 mo |
| [Germany](https://protegra.io/licensing/licences/vasp/germany-custody/) | Qualified crypto custody licence | BaFin |: |: |: |
| [Ireland](https://protegra.io/licensing/licences/vasp/ireland/) | Virtual Asset Service Provider AML/CFT Registration | CBI |: |: |: |
| [Mauritius](https://protegra.io/licensing/licences/vasp/mauritius-class-i/) | Virtual Asset Advisory Services (Class I) | FSC |: |: |: |
| [Mauritius](https://protegra.io/licensing/licences/vasp/mauritius-class-m/) | Virtual Asset Broker-Dealer (Class M) | FSC |: | MUR 2,000,000 |: |
| [Mauritius](https://protegra.io/licensing/licences/vasp/mauritius-class-o/) | Virtual Asset Wallet Services (Class O) | FSC |: |: |: |
| Mauritius | Virtual Asset Custodian (Class R) | FSC |: | MUR 5,000,000 |: |
| [Mauritius](https://protegra.io/licensing/licences/vasp/mauritius-class-s/) | Virtual Asset Market Place (Class S) | FSC |: | MUR 6,500,000 |: |
| [Seychelles](https://protegra.io/licensing/licences/vasp/seychelles/) | Virtual Asset Service Provider Licence / RegistrationVirtual Asset Service Provider Licence / Registration (Wallet Provider, Exchange, Broking, Investment Provider) under the Virtual Asset Service Providers Act 2024 | FSA |: | SCR 75,000 |: |
| [South Africa](https://protegra.io/licensing/licences/vasp/south-africa/) | Crypto Asset Service Provider licenceCrypto Asset Service Provider licence (an FSP authorisation category under FAIS, not a MiCA-equivalent regime) | FSCA |: |: |: |
| [Switzerland](https://protegra.io/licensing/licences/vasp/switzerland/) | Financial intermediary / VASP SRO affiliation | FINMA | CHF 10,000,000 | CHF 1,600 |: |
| [United Kingdom](https://protegra.io/licensing/licences/vasp/united-kingdom/) | Cryptoasset Business Registration (MLRs 2017) | FCA |: | GBP 11,260 | ~3 mo |

Values come from each licence's page, where every figure has its source.

## 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. [salvusfunds.com: establishing a vasp under the vaitos act in mauritius in 202](https://salvusfunds.com/2026/03/18/establishing-a-vasp-under-the-vaitos-act-in-mauritius-in-2026/): retrieved 2026-09-24
3. [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.