Namibia
Nigeria
Rwanda
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Uganda
South AfricaNikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the compliant launch, including banking and payment rails.
Get an FSA VASP license in Seychelles.
A crypto license in Seychelles is an FSA licence under the Virtual Asset Service Providers Act 2024: four licence types, a Seychelles IBC or domestic company, a resident director and a manned office on the island, paid-up capital of USD 25,000-100,000 for each activity held, an application fee of SCR 75,000 and a concessionary 1.5% business tax on the licensee's assessable income. The FSA's service standard runs from 3 months to 2 years, depending on the complexity of the application; we build the company, the file and the substance.
30 yrs
of experienceof experience
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated · Reviewed by the Prifinance team
Seychelles in brief
Crypto license in Seychelles: a real licence under the VASP Act 2024.
For years Seychelles meant an offshore company and no dedicated oversight of crypto. That ended with the Virtual Asset Service Providers Act 2024: providers already operating had to apply by 31 December 2024 and may carry on only until the FSA decides on their application, while a new entrant needs an FSA licence before it offers virtual-asset services in or from Seychelles. And the trigger is blunt - being incorporated in Seychelles is enough, wherever your clients actually sit. Mining farms, mixers and tumblers are prohibited outright, so the Act is a real gate, not a rubber stamp.
What you build is a Seychelles company - an International Business Company under the IBC Act 2016, or a domestic company under the Companies Act 1972 - carrying one or more of four licence types, with substance the FSA genuinely inspects: a resident director living in Seychelles, a manned local office, a compliance officer and an alternate. The payoff is a licence banks and counterparties respect, and a business tax rate of just 1.5% on the licensee's assessable income since 1 January 2025. We assemble the company, the application and the substance as one file.
A real licence now: the VASP Act 2024, run by the FSA. Existing operators had to apply by 31 December 2024.
You build a Seychelles company, one of four licence types and genuine island substance - for a 1.5% business tax line on assessable income.
The four licence types
One base licence, plus the activities you actually run.
The VASP Act sets four permissible activities in its First Schedule. You hold the base licence and pay for each activity you take on - the FSA prices them separately, so you size the scope to the real business, not to a package.
Four activities under the First Schedule - base licence plus the activities you run, priced separately.
01 - VIRTUAL ASSET EXCHANGE
Exchange
Running a trading venue - fiat-to-crypto and crypto-to-crypto - with client order handling and settlement. The heaviest activity, and the one most projects need.
Running a trading venue - fiat-to-crypto and crypto-to-crypto - with client order handling and settlement. The heaviest activity, and the one most projects need.
- ✓Annual activity fee SCR 375,000 (~USD 26,400)
- ✓On top of the SCR 75,000 base
- ✓Order handling, matching, settlement
02 - WALLET PROVIDER
Wallet provider
Custodial and non-custodial wallets, private-key storage and cold-storage solutions - holding or safeguarding clients' virtual assets.
Base SCR 75,000; per activity from SCR 75,000 (investment) to SCR 375,000 (exchange). Capital USD 25,000-100,000 per activity.
- ✓Annual activity fee SCR 300,000 (~USD 21,100)
- ✓Custody, key management, cold storage
- ✓Insurance and safeguarding expected
03 - BROKING
Broking
Arranging and executing virtual-asset deals for clients on an agency basis - matching buyers and sellers without running the venue yourself.
Arranging and executing virtual-asset deals for clients on an agency basis - matching buyers and sellers without running the venue yourself.
- ✓Annual activity fee SCR 150,000 (~USD 10,600)
- ✓Agency dealing and order routing
- ✓Lighter footprint than an exchange
04 - INVESTMENT PROVIDER
Investment provider
Managing virtual-asset funds and investment services - the category the Act uses for crypto fund managers operating in or from Seychelles.
Managing virtual-asset funds and investment services - the category the Act uses for crypto fund managers operating in or from Seychelles.
- ✓Annual activity fee SCR 75,000 (~USD 5,300)
- ✓Fund and portfolio management
- ✓Pairs with a fund structure where needed
The licence application fee is SCR 75,000 (about USD 5,300); the annual licence is that base fee plus each activity above. Paid-up capital under the Capital and other Financial Requirements Regulations 2024 is set per activity and adds up - from USD 25,000 for an investment provider to USD 100,000 for an exchange - and from the third year of operation it is 2.5% of annual turnover. Costs and timelines are confirmed for your case before any work begins.
Why Seychelles
A current regime with a rare tax line.
Not a grey zone and not a paper licence - an actual FSA authorisation, with a business tax rate that treats licensed VASPs kindly.
✓
A real, current licence
The VASP Act 2024 gives an actual FSA authorisation, not the old «offshore company, no questions» arrangement. That is exactly why banks and payment partners now take a Seychelles VASP seriously.An actual FSA authorisation, not a grey zone.
✓
1.5% on assessable income
Since 1 January 2025, licensed VASPs pay a concessionary 1.5% business tax on their assessable income, a rate set for VASP Act licensees by S.I. 102 of 2024 - a line very few licensing jurisdictions can match.Concessionary VASP rate since 2025.
✓
Four scopes, priced separately
Exchange, wallet, broking, investment - you pay for the activities you actually run and leave the rest. The licence is sized to the model, not sold as a bundle.Pay for the activities you run.
✓
A vehicle banks already know
The Seychelles IBC has decades of international practice behind it. Wrapped in a live licence and real substance, it reads to a bank as legitimacy rather than opacity.The Seychelles IBC, now inside a live licence.
✓
A perpetual licence
There is no re-licensing. The authorisation runs indefinitely; a compliance form and the annual renewal fee by 1 January keep it in force.Annual form + fee keep it in force.
✓
Substance that travels
A resident director and a manned office on the island are real obligations - and they are the same facts that carry the tax position and satisfy correspondent banks. Built once, they work three ways.Director + office carry tax and banking too.
How it compares
How Seychelles differs from other routes.
Seychelles is the licensed-but-lean play: a genuine FSA authorisation, real island substance, and a tax line that is hard to beat. The honest comparison is below.
Seychelles vs other jurisdictions
| Feature |  Seychelles | Other jurisdictions |
|---|---|---|
| Licence today | FSA VASP licence | From no regime to heavy regimes |
| Tax on the activity | 1.5% of assessable income | Worldwide, 9-30% |
| Substance | Resident director + office | From none to full teams |
| Setup | 3 months to 2 years | Weeks to years |
Licence today
SeychellesFSA VASP licence
Other jurisdictionsFrom no regime to heavy regimes
Tax on the activity
Seychelles1.5% of assessable income
Other jurisdictionsWorldwide, 9-30%
Substance
SeychellesResident director + office
Other jurisdictionsFrom none to full teams
Setup
Seychelles3 months to 2 years
Other jurisdictionsWeeks to years
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Seychelles | VASP Act - four activities (FSA) | 1.5% of assessable income | Resident director + office, 3-24 months |
 St Lucia | VABA classes A-E (FSRA) | Territorial - 0% foreign | IBC vehicle, 4-5 months |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 4-9 months |
 El Salvador | DASP registration (CNAD) | 0% on digital-asset gains | Registration, 2-4 months |
SeychellesLicense typeVASP Act - four activities (FSA)
Taxation1.5% of assessable income
RequirementsResident director + office, 3-24 months
St LuciaLicense typeVABA classes A-E (FSRA)
TaxationTerritorial - 0% foreign
RequirementsIBC vehicle, 4-5 months
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 4-9 months
El SalvadorLicense typeDASP registration (CNAD)
Taxation0% on digital-asset gains
RequirementsRegistration, 2-4 months
Africa
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Doing it properly
Crypto license requirements in Seychelles: what the FSA file contains.Seychelles crypto license requirements.
The Act is specific about the company, the people and the money. The checklist below is what we build and file - nothing decorative, all of it inspected.
01
Seychelles company - an IBC under the IBC Act 2016 or a domestic company under the Companies Act 1972.
02
Licence application to the FSA with the full documentation pack and an Institutional Risk Assessment (IRA).
03
Resident director - identified at application and resident on the island within a reasonable period as a licence condition.
04
A fully manned local office in Seychelles - not a nameplate address.
05
A compliance officer and an alternate compliance officer, fit and proper to the FSA.
06
Paid-up capital under the Capital and other Financial Requirements Regulations 2024 - USD 25,000-100,000 for each activity held, added together, then 2.5% of annual turnover from year three.
07
An AML/CFT framework to the AML/CFT Act, including the Travel Rule, with FIU registration and reporting (STRs and threshold reports).
08
Professional indemnity insurance appropriate to the activity.
09
Local record-keeping, plus the annual compliance form and renewal fee by 1 January.
10
No prohibited activities - mining facilities, mixers and tumblers are out under the Act.
01
Seychelles IBC or domestic company.
02
FSA application with the IRA.
03
Resident director on the island.
04
A fully manned local office.
05
Compliance officer + alternate.
06
Capital USD 25,000-100,000 per activity, then 2.5% of turnover.
07
AML/CFT + Travel Rule; FIU reporting.
08
Professional indemnity insurance.
09
Annual compliance form + renewal by 1 Jan.
10
No mining, mixers or tumblers.
Reflects the VASP Act 2024, the VASP (Capital and other Financial Requirements) Regulations 2024 and FSA guidance as of 2026.VASP Act 2024 + Capital Regs 2024 (S.I. 72), as of 2026.
Verify it yourself
Official sources
Regulator pages, legal texts and public registers the figures on this page are based on.
- RegulatorFSA Seychelles - VASP: apply for a licencefsaseychelles.sc
- LawFSA Seychelles - VASP legal framework: Virtual Asset Service Providers Act 2024 and regulationsfsaseychelles.sc
- RegisterFSA Seychelles - Licensed VASPsfsaseychelles.sc
- GuidanceFSA Seychelles - Guidance Notes for Paid-up Capital under the VASP Act (version of 20 July 2026)fsaseychelles.sc
- GuidanceFSA Seychelles - Virtual Asset Service Providers Licence Application Guidelines (version of 5 June 2025)fsaseychelles.sc
- LawSeychelles Revenue Commission - Business Tax (Amendment of Seventh Schedule) Regulations, 2024 (S.I. 102 of 2024)src.gov.sc
How it works
From first call to a live FSA licence.
01
Strategy and scope
Which of the four activities you need, the honest timeline and the substance plan - fixed in writing before anything incorporates.Activities, timeline, substance - in writing.
02
The Seychelles company
An IBC or domestic company, incorporated with clean governance and ownership transparent to the UBOs.IBC or domestic, clean governance.
03
The FSA file
The application pack, the Institutional Risk Assessment, the AML/CFT manuals and the compliance officer and alternate.Pack, IRA, AML, compliance officer.
04
Substance and banking
Resident director, manned office and insurance put in place; accounts or a payment provider arranged on disclosure.Director, office, insurance, accounts.
05
Licence and run
The FSA grants the licence; the annual compliance form and renewal fee keep it perpetual from there.Grant, then annual form keeps it live.
Quick facts
RegulatorFSA Seychelles
LawVASP Act 2024
Licence typesFour
Base feeSCR 75,000
Exchange activitySCR 375,000/yr
CapitalUSD 25,000-100,000 per activity
VASP tax1.5% of assessable income
Setup3-24 months
The VASP Act is a genuine gate - a resident director and a manned office are real. The upside is a licence that actually opens banking, and a 1.5% tax line to run it on.
On the ground for Seychelles
Built on the island, run from our Dubai desk.
Prifinance - Seychelles desk
Run from our Dubai office
33 Level, Al Saqr Business Tower, Dubai, UAE
01
Seychelles incorporation
The IBC or domestic company, clean governance and ownership documented to the UBOs - the vehicle the licence sits on.The IBC the licence sits on.
02
The FSA application
The full pack, the Institutional Risk Assessment and the AML/CFT manuals, assembled the way the FSA expects to read them.Pack, IRA and AML manuals.
03
The substance build
Resident director, manned office, compliance officer and alternate - arranged on the island so the substance is real, not claimed.Director + office, arranged real.
04
Banking and rails
Accounts or a licensed payment provider, arranged on full disclosure with the licence and substance doing the persuading.Arranged on full disclosure.
We also have offices in
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of licensed VASPs in Seychelles.
Unusually light on the licensed activity: since 1 January 2025 a VASP Act licensee pays business tax at a concessionary 1.5% of its assessable income - and the rate comes with the licence, so substance is the condition.
VASP rate: 1.5%
Licensed VASPs are taxed at a concessionary 1.5% business tax on their assessable income under the Business Tax Act, from 1 January 2025 (S.I. 102 of 2024) - a rate almost no other licensing jurisdiction offers.On assessable income, from 2025.
Foreign-source: case by case
Seychelles has historically taxed on a territorial basis, but the 1.5% rule covers the licensee's assessable income with no local-source limit, and the FSA requires the business to be run from Seychelles. Foreign-client revenue is modelled for your structure, not assumed untaxed.Modelled case by case.
Substance is the condition
The 1.5% rate follows the licence, and the licence follows substance: the FSA requires a resident director, a manned office and core functions such as compliance and risk management in Seychelles.FSA substance rules.
Standard tax otherwise
Seychelles-source income outside the VASP concession follows the ordinary business tax - 15% on the first SCR 1,000,000 and 25% above it.Non-VASP local income.
No capital-gains tax
Seychelles levies no separate capital-gains tax - disposals follow the business-tax logic above, not a distinct CGT charge.No separate capital-gains tax.
The substance is the asset
The director, the office and the books that carry this tax position are the same facts the licence and the banks need. We build them once, for all three.Same facts for tax and banking.
Tax summary
VASP licensee's assessable income1.5%
Foreign-source incomeModelled for your structure
Standard business tax15% / 25%
Capital gains taxNone
VAT (domestic supplies)15%
Substance basisVASP Act + FSA substance guidance
*As of 2026; the 1.5% VASP rate applies from 1 January 2025 (S.I. 102 of 2024). We model your actual case, including revenue from foreign clients, rather than promising a headline.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: the Seychelles company, the FSA pack and Institutional Risk Assessment, the AML/KYC policy set and the substance plan. His document sets are the reason reviews finish cleanly.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a clean, licensed business.
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Seychelles · VASP Act 2024
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The Seychelles crypto licence, answered honestly.
Is there a real crypto licence in Seychelles now?+
Yes - the Virtual Asset Service Providers Act 2024, run by the FSA. The old «offshore company, no oversight» era is over: providers already operating had to apply by 31 December 2024 and may continue only until the FSA decides on their application, and a new entrant needs an actual licence before it offers virtual-asset services in or from Seychelles.
Who has to be licensed?+
Anyone offering virtual-asset services in or from Seychelles - and being incorporated in Seychelles is itself the trigger, wherever your clients are. A Seychelles company cannot quietly run crypto services abroad without dealing with the Act.
What are the four licence types?+
Exchange, Wallet Provider, Broking and Investment Provider. You hold the base licence and add the activities you actually run - the FSA prices each one separately.
What does it cost?+
The application fee is SCR 75,000 (about USD 5,300). The annual licence is that base plus each activity - Exchange SCR 375,000, Wallet SCR 300,000, Broking SCR 150,000, Investment SCR 75,000. Paid-up capital is set per activity and adds up - Exchange USD 100,000, Wallet USD 75,000, Broking USD 50,000, Investment USD 25,000 - and from the third year it is 2.5% of annual turnover.
Do I really need people on the island?+
Yes. The Act requires a resident director living in Seychelles, a fully manned local office, and a compliance officer with an alternate. The substance is genuinely inspected - and we arrange all of it.
How is a licensed VASP taxed?+
Since 1 January 2025, licensed VASPs pay a concessionary 1.5% business tax on their assessable income (S.I. 102 of 2024), and the rule does not limit it to Seychelles-source income; how revenue from foreign clients is treated is modelled for your case. It is one of the lightest lines in any licensed jurisdiction.
How long does a crypto license in Seychelles take?+
The FSA's service standard runs from 3 months to 2 years, depending on the complexity of the application. Once granted, the licence is perpetual: to keep it in force you lodge a compliance form and pay the renewal fee - the same as the original grant - on or before 1 January each year.
Is anything banned outright?+
Yes - mining facilities, mixers and tumblers are prohibited under the Act. If your model depends on those, Seychelles is not the jurisdiction, and we will tell you before you spend.
Seychelles, St Lucia or UAE?+
St Lucia and Seychelles are both offshore, licensed routes; the UAE is heavier substance and cost but a stronger brand. Seychelles stands out on the 1.5% tax line and a genuine, current statute. Model and market decide - we structure any of them.
Why Seychelles with you?+
Because the licence lives or dies on the file and the substance - the IRA, the AML manuals, the director and the office. We build Seychelles VASP files to the standard the FSA and the banks read, which is what makes the licence usable rather than just granted.
A real licence now?+
Yes - VASP Act 2024, run by the FSA.
Who needs it?+
Anyone in or from Seychelles - incorporation is the trigger.
The four types?+
Exchange, wallet, broking, investment.
Cost?+
Base SCR 75,000 + activity; capital USD 25,000-100,000 per activity.
People on the island?+
Yes - resident director + manned office.
Tax?+
1.5% of assessable income since 2025.
How long?+
FSA standard 3-24 months; then perpetual.
Banned?+
Mining, mixers and tumblers.
Vs St Lucia / UAE?+
1.5% tax and a current statute set it apart.
Why with us?+
File and substance built to FSA and bank standard.
Client notes
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Financial Services Authority of Seychelles or the Government of Seychelles. Licences are granted by, and obtained directly from, the competent authority.