# Virtual Asset Market Place (Class S) (Mauritius)

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

The Virtual Asset Market Place (Class S) is issued by Financial Services Commission (FSC) under Virtual Asset and Initial Token Offering Services Act 2021. The application fee is MUR 6,500,000 minimum capital requirement. Ownership changes need the regulator's approval before completion.

## At a glance

| Official name | Virtual Asset Market Place (Class S) [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 |
| Application fee | MUR 6,500,000 minimum capital requirement [2] |

## What it lets you do

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

- **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

_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]

## 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.