Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right crypto categories and leads the FSP file all the way to the compliant launch, including banking and payment rails.
Get a crypto license in South Africa.
South Africa is the market play, not the tax play. Since the FSCA declared crypto assets financial products in 2022, a Crypto Asset Service Provider needs an FSP licence under the FAIS Act - a real conduct regime with fit-and-proper and FICA obligations. What it buys is legitimacy in Africa's deepest, most active crypto market. We build the company and the licence end to end.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Crypto licenses obtainedlicenses obtained
Updated
South Africa in brief
A real licence for a real market.
South Africa took a clear path. Rather than write a bespoke crypto statute, the Financial Sector Conduct Authority declared crypto assets to be financial products under the FAIS Act - General Notice 1350 of 19 October 2022 - and folded crypto business into the country's existing financial-services regime. Since 1 June 2023, anyone providing advice or intermediary services in relation to crypto assets is a Crypto Asset Service Provider and must hold a Financial Services Provider licence from the FSCA. It is a conduct regime with teeth: applications have been declined for weak business plans and thin operational ability.
This is not a tax jurisdiction, and we will not pretend otherwise - the corporate rate is 27% and crypto is taxed normally. What South Africa offers instead is access and credibility: the deepest, most active crypto market on the continent, a respected conduct regulator, an English-language common-law system, and a licence that lets you serve local users lawfully. What you build is a South African company, the FSP licence for the crypto categories you carry on, fit-and-proper key individuals, and an AML programme under FICA. We build the licence and the structure together.
A real licence for a real market: since 2022 crypto is a financial product, so a CASP needs an FSP licence from the FSCA.
Not a tax play - 27% corporate tax. The value is Africa's deepest crypto market, served lawfully and credibly.
The CASP licence
An FSP licence for crypto categories.
There is no separate crypto statute - crypto is a financial product, so you licence as an FSP for the crypto-asset categories you provide advice or intermediary services in. We scope the categories to the real business.
Licence as an FSP for the crypto categories - intermediary, advice - scoped to the business.
01 - INTERMEDIARY SERVICES
Crypto intermediary FSP
Buying, selling or dealing in crypto assets for clients - exchange and brokerage activity licensed as intermediary services under the FAIS Act.
Buying, selling or dealing in crypto assets for clients - exchange and brokerage activity licensed as intermediary services under the FAIS Act.
- ✓Exchange and brokerage activity
- ✓Category I FSP licence
- ✓General Code of Conduct applies
02 - ADVICE
Crypto advice FSP
Advising clients on crypto assets - a licensed activity in its own right, with the FAIS suitability and disclosure duties that come with advice.
The FSCA declines thin files: fit-and-proper key individuals and operational ability are what pass.
- ✓Advice on crypto assets
- ✓Suitability and disclosure duties
- ✓Held alongside intermediary where needed
03 - THE FIT-AND-PROPER CORE
Key individuals and operations
The FSCA licenses the firm through its people and its operational ability - key individuals, representatives, a real business plan and financial soundness.
The FSCA licenses the firm through its people and its operational ability - key individuals, representatives, a real business plan and financial soundness.
- ✓Fit-and-proper key individuals
- ✓Operational ability and business plan
- ✓Financial soundness and good standing
The FSCA has declined applications mainly for failing fit-and-proper and operational-ability standards - a thin plan does not pass. Application and levy costs apply and are confirmed for your case before any work begins.
Why South Africa
Access and credibility, not a tax break.
This is the onshore market play - the price of admission is a real licence and normal tax, and what you get is Africa's biggest crypto market, served lawfully.
✓
Africa's deepest crypto market
South Africa has the continent's most active crypto user base and adoption. A local licence lets you serve that market directly, rather than reaching it grey-market from offshore.Serve local users lawfully.
✓
A respected conduct regulator
The FSCA is a serious financial-conduct authority. An FSP licence reads to banks and partners as a real, supervised authorisation - credibility that offshore registration cannot buy locally.FSCA - a real conduct authority.
✓
A familiar legal system
English-language, common-law, with a mature financial-services framework. The rules are legible and the professional infrastructure is deep.English, common-law, mature.
✓
One regime, no bespoke statute
Crypto sits inside the established FAIS regime rather than a brand-new law finding its feet - the standards are settled and well understood.FAIS, not a new statute.
✓
The honest trade-off
We say it plainly: 27% corporate tax and normal crypto taxation. You pay onshore tax for onshore access - the right call when the South African market is the point.27% tax for onshore access.
✓
The honest structure wins
The FSCA licenses on the people and the plan. We build the fit-and-proper file and the operational framework to the standard that actually passes review.Licensed on people and plan.
How it compares
How South Africa differs from other routes.
South Africa is an onshore, market-access licence - real tax for a real market. The honest comparison against the offshore routes is below.
South Africa vs offshore jurisdictions
| Feature |  South Africa | Offshore jurisdictions |
|---|---|---|
| What you get | Local market access + credibility | Tax efficiency, no local market |
| Corporate tax | 27% | 0% (offshore) |
| Regime | FSP licence under FAIS | VASP registration / licence |
| Setup | From ~4-6 months | ~4-6 months |
What you get
South AfricaLocal market access + credibility
Offshore jurisdictionsTax efficiency, no local market
Corporate tax
South Africa27%
Offshore jurisdictions0% (offshore)
Regime
South AfricaFSP licence under FAIS
Offshore jurisdictionsVASP registration / licence
Setup
South AfricaFrom ~4-6 months
Offshore jurisdictions~4-6 months
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| South Africa | CASP / FSP licence (FSCA) | 27% corporate | Fit-and-proper + operations, ~4-6 months |
 Seychelles | VASP Act - four activities (FSA) | 1.5% local · territorial | Resident director + office, ~6 months |
 UAE (Dubai) | VARA VASP by activity | 9% CIT · 0% personal | Substance-heavy, 3-9 months |
 BVI | VASP registration by category (FSC) | 0% corporate | Authorised representative, ~4-6 months |
South AfricaLicense typeCASP / FSP licence (FSCA)
Taxation27% corporate
RequirementsFit-and-proper + operations, ~4-6 months
SeychellesLicense typeVASP Act - four activities (FSA)
Taxation1.5% local · territorial
RequirementsResident director + office, ~6 months
UAE (Dubai)License typeVARA VASP by activity
Taxation9% CIT · 0% personal
RequirementsSubstance-heavy, 3-9 months
BVILicense typeVASP registration by category (FSC)
Taxation0% corporate
RequirementsAuthorised representative, ~4-6 months
Doing it properly
What the FSP licence file contains.What the FSP file contains.
The FSCA licenses on substance - the people and the operation. The checklist below is what we build and file to pass, not just to submit.
01
South African company - a Pty Ltd, incorporated with clean governance and ownership to the UBOs.
02
An FSP licence application to the FSCA for the crypto-asset categories carried on.
03
Fit-and-proper key individuals and representatives - competence, honesty and good standing.
04
Demonstrated operational ability - a real business plan, operational framework and systems.
05
Financial soundness appropriate to the activity.
06
Compliance with the FAIS General Code of Conduct - disclosure, advertising, conflicts of interest and, for advice, suitability.
07
An AML/CFT programme under FICA as an accountable institution, with a compliance officer and reporting.
08
The Travel Rule and transaction-monitoring controls for crypto transfers.
09
A compliance function, whether in-house or an approved compliance practice.
10
Ongoing FSCA reporting and supervision - the licence is a relationship, not a certificate.
01
South African Pty Ltd.
02
FSP licence for crypto categories.
03
Fit-and-proper key individuals.
04
Operational ability and business plan.
05
Financial soundness.
06
FAIS General Code of Conduct.
07
FICA AML programme + reporting.
08
Travel Rule and monitoring.
09
A compliance function.
10
Ongoing FSCA reporting.
Reflects the FAIS Act, General Notice 1350 of 2022 and the CASP regime live since 1 June 2023, plus FICA obligations, as of 2026.FAIS Act + GN 1350/2022 + FICA, as of 2026.
How it works
From first call to an FSP licence.
01
Strategy and categories
Which crypto categories you licence, the honest timeline and the operations plan - fixed in writing before anything incorporates.Which categories, timeline - in writing.
02
The South African company
A Pty Ltd, incorporated with clean governance and ownership transparent to the UBOs.A Pty Ltd, clean governance.
03
The FSP file
The licence application, the fit-and-proper key individuals, the operational framework and financial soundness.Application, key individuals, operations.
04
FICA and banking
The AML programme under FICA and the compliance function in place; accounts arranged on disclosure.AML programme; accounts.
05
Licence and run
The FSCA grants the FSP licence; ongoing conduct and reporting duties keep it clean.FSCA grants; conduct duties keep it clean.
Quick facts
RegulatorFSCA
BasisCrypto = financial product (FAIS)
LicenceCASP / FSP
Live since1 June 2023
VehiclePty Ltd
Corporate tax27%
AML basisFICA - accountable institution
SetupFrom ~4-6 months
This is onshore access, not tax arbitrage. The value is Africa's biggest crypto market, served with a real, respected licence.
On the ground for South Africa
Run from our European and Gulf offices.
Prifinance - South Africa desk
Run from our Dubai office
33 Level, Al Saqr Business Tower, Dubai, UAE
01
South African company
The Pty Ltd the licence sits on - incorporated clean, owned transparently to the UBOs.The Pty Ltd, built clean.
02
The FSP application
The crypto categories, the business plan and the operational framework, assembled the way the FSCA expects to read them.Categories, plan, operations.
03
Fit-and-proper and FICA
The key individuals, the compliance function and the AML programme under FICA - built to the standard that passes.Key individuals, AML.
04
Banking and rails
Local accounts or a payment provider, arranged on full disclosure with a real licence behind you.Arranged on full disclosure.
We also have offices in
Tallinn
Estonia
Roseni 13
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 crypto companies in South Africa.
A normal onshore tax position - we set it out plainly, because the reason to be here is the market, not the rate.
Corporate income tax: 27%
South African companies are taxed at 27% on profit. There is no crypto carve-out - the digital-asset business is taxed like any other.No crypto carve-out.
Crypto is taxed normally
SARS treats crypto gains as income or capital depending on the facts. There is no special exemption - the position is documented and planned, not avoided.Income or capital.
The trade-off is deliberate
You pay onshore tax for onshore access. When the South African market is the goal, that is the right trade - and we say so rather than dress it up.Onshore tax for onshore access.
VAT considerations
VAT applies to supplies in the ordinary way, with specific treatment for certain crypto transactions - planned into the model where relevant.Specific crypto treatment.
A mature tax system
South Africa has a developed, treaty-connected tax system - predictable rules and professional infrastructure, not a moving target.Predictable, treaty-connected.
Home-country tax still matters
Group and owner-level tax depends on where you sit. We model the full picture, including how a South African subsidiary fits a wider structure.Group position modelled.
Tax summary
Corporate income tax27%
Crypto gainsTaxed - income or capital
Crypto-specific reliefNone
VATApplies (specific crypto treatment)
Why hereMarket access, not tax
SystemMature, treaty-connected
*As of 2026. South Africa is an access play - we model the tax honestly against the value of the local market.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the FSP file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: the South African company, the FSP file, the fit-and-proper key-individual pack and the FICA AML programme. 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.
Follow Prifinance
Active across our channels.
South Africa · CASP / FSP
Launch your crypto project in South Africa with expert support.
Full-service setup - the company, the FSP licence and the FICA programme, assembled as one.
Get a consultation →Free legal opinion
Is South Africa the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which categories, jurisdiction or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The South Africa crypto licence, answered honestly.
Is there a crypto licence in South Africa?+
Yes, in effect. The FSCA declared crypto assets financial products in 2022, so a Crypto Asset Service Provider must hold a Financial Services Provider licence under the FAIS Act. The regime has been live since 1 June 2023.
Is it a bespoke crypto law?+
No - and that is a feature. Crypto sits inside the established FAIS conduct regime rather than a brand-new statute, so the standards are settled and well understood.
Why licence here rather than offshore?+
For the market. South Africa is the deepest crypto market on the continent, and a local licence lets you serve it lawfully and credibly. Offshore gives you tax, not local access.
How is it taxed?+
Normally - 27% corporate tax and crypto taxed as income or capital. There is no special relief. You pay onshore tax for onshore access, and we plan it properly rather than pretend it away.
Why do applications get declined?+
Mostly for weak fit-and-proper and operational ability - thin business plans and light operations. A serious plan, real key individuals and a proper compliance function are what pass, and that is what we build.
What about AML?+
Crypto providers are accountable institutions under FICA, with KYC, monitoring, reporting and the Travel Rule for transfers. We build the FICA programme alongside the licence.
How long does it take?+
Realistically a few months once the file is complete and credible. The quality of the fit-and-proper and operational file is what moves the FSCA review, not the calendar.
Why South Africa with you?+
Because the FSCA licenses on the people and the plan. We build FSP applications to the standard that actually passes review, which is what turns a submission into a usable licence.
A licence here?+
Yes - CASP needs an FSP licence (FSCA).
Bespoke law?+
No - crypto sits inside FAIS.
Why not offshore?+
For the local market, not tax.
Tax?+
27%; crypto taxed normally.
Why declined?+
Weak fit-and-proper and operations.
AML?+
FICA accountable institution + Travel Rule.
How long?+
A few months with a credible file.
Why with us?+
Files built to the standard that passes.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
“As a software development crew at FewMoreTaps OÜ, we've had the pleasure of working with Prifinance on some key financial moves.First of all, navigating the world of corporate banking and finance can be a maze, but Prifinance made it feel like a walk in the park. They helped us set up a corporate bank account without the hassle of jumping on a plane or drowning in paperwork. Everything was done remotely, smoothly…”
Google
“I had their assistance in company registration and I would recommend them. They were answering all my clarification during the process and offering all their supportThank you Daniel and Irinia”
Google
“We found PRIFINANCE COMPANYvia the Internet and asked for help in organizing the opening of their company in Estonia. PRIFINANCE COMPANY specialists helped us a lot with this. Their professional, competent approach and knowledge of their business left us with only the best impressions.”
Google
“I'm thrilled with my experience with PriFinance! They helped me obtain a crypto license in Estonia without any hassle. The team was super understanding and always available to answer my questions and assist. It was great to see how they put effort into preparing the documents to ensure everything went smoothly. I'm delighted with the outcome and highly recommend PriFinance to anyone looking to get a license…”
Google
“Opening an account with Prifinance in a Swiss bank was such an easy and quick process that I was shocked. It all started with the first call, where I received detailed guidance on the required documents and the entire procedure.One of the key highlights was their attention to detail. As someone who usually gets tangled up in paperwork, I was pleasantly surprised when they sent me all the documents and…”
Google
“I recently had the pleasure of working with Boris.. and I must say, it was a fantastic experience. Boris went above and beyond to assist me with my residency needs. His professionalism, knowledge, and dedication truly stood out. I highly recommend working with Boris and the team!”
Google
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One message away from your South Africa licence.
Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which categories, jurisdiction or route fits your business.Free legal opinion: which South Africa categories fit your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right categories, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
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 Sector Conduct Authority or the Government of South Africa. Licences are granted by, and obtained directly from, the competent authority.