VASP registration under SVG's Virtual Asset Business Act 2022
St Vincent and the Grenadines Crypto Licence
Since 31 May 2025, every SVG business company or LLC providing virtual-asset services must register with the Financial Services Authority under the Virtual Asset Business Act 2022. Registration takes roughly 90 days on a complete file and needs EC$50,000 paid-up capital, a statutory deposit, professional indemnity cover and, for foreign owners, a resident Principal Representative. Vantegris runs the FSA file and the local set-up.
What is the St Vincent and the Grenadines crypto licence?
For years, St. Vincent and the Grenadines was the offshore address of choice precisely because it did not license crypto or forex — a reputation that made it popular but legally exposed. That changed on 31 May 2025. The Virtual Asset Business Act (VABA), enacted in 2022 and in force since 31 May 2025, requires every SVG business company or LLC providing virtual-asset services to register with the FSA, wherever the services are delivered from. Firms that were already operating had to apply as well, and the FSA says those still operating after the transition period without a complete application face enforcement, including strike-off and fines.
The upshot is that an SVG setup is now a genuine, supervised credential. The Act covers exchange between virtual assets and fiat or between virtual assets, transfers of virtual assets, custody and administration, and financial services tied to issuing or selling virtual assets, when done for or on behalf of another person. You need a locally incorporated company (LLC or business company) filed through an FSA-licensed registered agent, a local business address, and a compliance officer and Money Laundering Reporting Officer; foreign entities must appoint a Principal Representative who is resident in SVG. The FSA says a physical office is optional once those are in place. Financially, the company holds authorised capital of EC$300,000 with at least EC$50,000 paid up, maintains a statutory deposit of XCD 100,000 (or 25% of client obligations, whichever is greater) and carries professional indemnity insurance of at least EC$300,000. Fees are modest (around $1,500 to apply and $4,500 on registration), and a complete application typically takes about 90 days. It does not passport into the EU, but for a legitimate, cost-effective offshore base, the new SVG regime is a solid, credible option. We handle the file and the substance.
Why operators pick St Vincent and the Grenadines
A supervised FSA registration replaces the legal uncertainty of the old unregulated setup.
A ~90-day process with modest official fees compared with onshore regimes.
One regime for exchange, transfer, custody and issuance-related services.
Built to FATF standards, which supports banking and counterparty confidence.
A lean offshore structure for globally-facing operators.
St. Vincent vs. Seychelles (VASP)
| Criteria | St. Vincent | Seychelles |
|---|---|---|
| Regulator | FSA SVG (VABA 2022) | FSA Seychelles (VASP Act 2024) |
| Financial floor | EC$50k paid-up capital + statutory deposit + PII | Paid-up capital by type (USD 25k–150k) |
| Timeline | ~90 days | ~3–6 months |
| Substance | Local address + resident Principal Representative | Office + resident director |
| EU passport | No | No |
| Best suited to | Newly-regulated, lean offshore | Established offshore, low tax |
Who the St Vincent and the Grenadines crypto licence suits
St Vincent and the Grenadines crypto licence requirements
How to get a St Vincent and the Grenadines crypto licence
- Company & substance Incorporate the local company, fix the local business address and appoint the Principal Representative. 2–4 weeks
- Officers & policies Appoint the Compliance Officer and MLRO and build the AML/CFT and governance policies. 2–4 weeks
- Capital, deposit & insurance Pay in the capital and arrange the statutory deposit and professional-indemnity insurance. In parallel
- FSA application File the VASP registration with the FSA and manage its review. ~90 days
- Launch & renew On registration, operate under the VABA; the certificate runs to 31 Dec, renew by 31 Jan. On approval
Not sure St Vincent and the Grenadines is the right fit?
Tell us your product and target markets — we'll confirm whether St Vincent and the Grenadines or another jurisdiction gets you live fastest, at the lowest all-in cost.
How much does a St Vincent and the Grenadines crypto licence cost?
- Local company incorporation
- VASP application to the FSA
- AML/CFT & governance policies
- Regulator liaison to registration
- Everything in Licence
- Local address & Principal Representative
- Compliance Officer & MLRO
- Capital, statutory deposit & PII arrangement
- Everything in Turnkey
- Crypto-friendly banking introductions
- Ongoing compliance & renewals
- Reporting & change-of-control support
Budget the FSA fees (~$1,500 + ~$4,500), at least EC$50,000 of paid-up capital, the statutory deposit (XCD 100,000 or 25% of client obligations, whichever is greater), professional-indemnity cover of at least EC$300,000, the local presence and the compliance build. There is no EU passport. We model the full setup before you commit.
Compliance obligations in St Vincent and the Grenadines
Technical & IT standards in St Vincent and the Grenadines
After you go live in St Vincent and the Grenadines
Which markets a St Vincent and the Grenadines licence reaches
An SVG VASP registration 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.
St Vincent and the Grenadines crypto licence FAQ
Isn't St. Vincent unregulated for crypto?
Not any more. That was true for years, but the FSA's Virtual Asset Business Act came into force on 31 May 2025. Any business providing virtual-asset services in or from SVG must now register with the FSA — the old unlicensed status is gone, and a proper registration is now both required and available.
What does it cost?
Official fees are modest — around XCD 4,000 (~$1,500) to apply and XCD 12,000 (~$4,500) on registration, then XCD 12,000 each year to renew. On top, you maintain a statutory deposit of XCD 100,000 (or 25% of client obligations, whichever is greater) and professional-indemnity insurance of at least EC$300,000, and the company needs at least EC$50,000 of paid-up capital.
How long does it take?
A complete application typically takes about 90 days. The certificate is valid until 31 December of the year of issue and is renewed by 31 January.
Do I need local substance?
Yes, though less than many expect. You need an SVG LLC or business company, a local business address and a compliance officer and Money Laundering Reporting Officer; foreign entities must appoint a Principal Representative who is resident in SVG. The FSA's FAQ says a physical office is not required once those are in place.
Does an SVG registration 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 — many operators pair the two.
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.
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