VASP licence under the Seychelles VASP Act 2024
Seychelles Crypto Licence
Since the VASP Act 2024, Seychelles requires a proper FSA licence (four types by activity, USD 25k–100k capital), and the regulator now expects genuine substance and live system walk-throughs. In return you hold a licence from a recognised offshore centre with no capital gains tax. Vantegris runs the FSA file and the substance.
What is the Seychelles crypto licence?
Seychelles was long a favourite offshore crypto base, and the Virtual Asset Service Providers Act 2024, in force since 1 September 2024, turned that into a proper, supervised regime. Operating virtual-asset services in or from Seychelles without an FSA licence is now a criminal offence carrying fines up to USD 350,000, so the days of an unlicensed Seychelles shell are over. What remains is a credible offshore credential from a recognised jurisdiction.
The regime is tiered by activity. Under the 2024 capital regulations a new Virtual Asset Exchange needs USD 100,000 paid-up capital, a Wallet provider USD 75,000, a Broking firm USD 50,000 and an Investment provider USD 25,000, and from the start of the third year of operation the requirement moves to 2.5% of annual turnover. The FSA charges SCR 75,000 to apply for a licence, then an annual fee of SCR 75,000 plus an activity fee that runs from SCR 75,000 (investment) to SCR 375,000 (exchange). The FSA now expects genuine operational substance (a local office, at least one resident director, regular local meetings and, notably, live system walk-throughs), and a new Code of Corporate Governance took effect in January 2026. There is no capital gains tax, and a Seychelles company pays business tax at 15% on the first SCR 1 million of taxable income and 25% above. It does not passport into the EU, but for globally-facing exchanges, brokers, OTC desks and custodians that want a legitimate offshore home, Seychelles is a strong choice. We build the file to the FSA's current, more demanding standard.
Why operators pick Seychelles
A recognised FSA licence carries more weight than an unregulated offshore setup.
No capital gains tax, and company business tax of 15% on the first SCR 1 million, 25% above.
License exactly the model you run — exchange, broker, investment or custody.
The FSA reviews efficiently, often within a few months of a complete file.
A base for worldwide operations outside the EU's capital-heavy regimes.
Seychelles vs. St. Vincent (VASP)
| Criteria | Seychelles | St. Vincent |
|---|---|---|
| Regulator | FSA (VASP Act 2024) | FSA SVG (VABA 2022) |
| Financial floor | Paid-up capital $25k–100k by type | EC$50k paid-up capital + statutory deposit + PII |
| Tax | No CGT; business tax 15% / 25% | Offshore-efficient |
| Substance | Office + resident director + walk-throughs | Local address + resident Principal Representative |
| EU passport | No | No |
| Best suited to | Established offshore centre | Newly-regulated, lean offshore |
Who the Seychelles crypto licence suits
Seychelles crypto licence requirements
How to get a Seychelles crypto licence
- Type & capital Select the licence type (exchange/broker/investment/wallet) and the matching capital. 1–2 weeks
- Company & substance Incorporate the Seychelles company, secure the office and resident director. 2–4 weeks
- Build the file Prepare AML/CFT, risk, IT and governance policies and ready the systems for walk-through. 4–8 weeks
- FSA application File with the FSA and manage the review, Q&A and live system walk-through. ~3–6 months
- Launch On licensing, operate under the VASP Act obligations and ongoing reporting. On approval
Not sure Seychelles is the right fit?
Tell us your product and target markets — we'll confirm whether Seychelles or another jurisdiction gets you live fastest, at the lowest all-in cost.
How much does a Seychelles crypto licence cost?
- Seychelles company incorporation
- VASP application (by type) to the FSA
- AML/CFT & governance policies
- Regulator liaison to licence
- Everything in Licence
- Office, resident director & substance
- Compliance officer & MLRO
- Paid-up capital arrangement
- Everything in Turnkey
- Crypto-friendly banking introductions
- System walk-through readiness
- Ongoing compliance & reporting support
Budget the type-based paid-up capital (USD 25k–100k), the FSA's SCR 75,000 application fee and its annual fee (SCR 75,000 base plus the activity fee), local office, resident director and the compliance build — plus readiness for the FSA's live system walk-through. Company business tax is 15% on the first SCR 1 million of taxable income and 25% above, and there is no EU passport. We model the full setup before you commit.
Compliance obligations in Seychelles
Technical & IT standards in Seychelles
After you go live in Seychelles
Which markets a Seychelles licence reaches
A Seychelles VASP licence supports global business but does not passport into the EU — to serve EU users you need an EU CASP licence. You still follow local rules in each market and geo-block the United States, sanctioned and FATF-listed territories.
Operators must use GEO-IP blocking for restricted countries and any FATF-blacklisted nation. Non-compliance can lead to licence suspension or revocation.
Seychelles crypto licence FAQ
Do I need a licence for crypto in Seychelles now?
Yes. Since the Virtual Asset Service Providers Act 2024 came into force on 1 September 2024, operating virtual-asset services in or from Seychelles without an FSA licence is a criminal offence carrying fines up to USD 350,000. The previous unregulated setup is no longer lawful.
What are the licence types and capital?
Four types by activity. A new entity needs paid-up capital of USD 100,000 for a Virtual Asset Exchange, USD 75,000 for a Wallet provider, USD 50,000 for Broking and USD 25,000 for an Investment provider, and 2.5% of annual turnover from the start of its third year (S.I. 72 of 2024). We match the type to your model.
How is crypto taxed in Seychelles?
Seychelles has no capital gains tax. A Seychelles company pays business tax at 15% on the first SCR 1 million of taxable income and 25% above, according to the Seychelles Revenue Commission. We confirm the position for your structure.
What does the FSA expect on substance?
Genuine operations (a local office, at least one resident director, regular meetings in Seychelles and a live system walk-through), plus adherence to the Code of Corporate Governance that took effect in January 2026.
Does a Seychelles VASP work in the EU?
No. It supports global business but does not passport into the EU. To serve EU users you would need an EU CASP licence — the two are often paired.
Reviewed by the Vantegris licensing team. Last updated September 2026. This page is general information, not legal advice. Licensing requirements vary by jurisdiction and change over time.
Start your Seychelles file.
Tell us your product and target markets and we will map the licence route. The consultation is free and confidential, and most enquiries get a reply within 24 hours.