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SVG VASP – Crypto Exchange Use Case

How to Get a Crypto Exchange License in SVG Under the VASP Regime

St. Vincent & the Grenadines (SVG) now requires crypto exchanges and other virtual asset businesses to obtain a VASP registration under the Virtual Asset Business Act.

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This page is specifically for founders who want to use SVG as the licensed base for a crypto exchange – order-book, OTC or brokerage model – and need a clear, realistic implementation plan. For the full overview of SVG’s VASP regime (all activities, costs and timelines), see our main SVG VASP License Guide

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What “Crypto Exchange” Means Under SVG VASP

Under SVG’s Virtual Asset Business framework, a crypto exchange generally falls under “operating a virtual asset exchange” or similar categories – i.e. providing a platform where clients can trade virtual assets against each other or against fiat, with the operator arranging or executing those trades.

1. Centralised order-book exchanges (CEX)

Spot trading, internal or external liquidity, with or without margin features.

2. OTC / RFQ desks

Handling larger block trades, quotes and negotiated deals for clients.

3. Brokerage or agency models

Taking client orders and routing them to external liquidity venues.

4. Hybrid or P2P platforms with custody

Where you still control key parts of the flow (wallets, escrow, order matching).

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Structure

SVG Crypto Exchange License: Typical Structure

SVG VASP Entity (Exchange Operator)

  • Incorporated under SVG law as an LLC or BC eligible for VASP registration.

  • Holds the VASP registration and contracts with clients.

  • Responsible for exchange operations, client onboarding, AML/KYC and custody (if you hold client assets).

Technology / IP Entity (Often in Another Jurisdiction)

  • Owns or licenses the matching engine, UI, APIs and IP.

  • Contracts with dev teams and infrastructure providers.

  • Can sit in a separate jurisdiction for talent, cost or tax reasons.

Treasury / Liquidity & Support Entities

  • Market-making / treasury entity where appropriate.

  • Optional regional marketing or support companies (e.g. UAE/GCC) that refer clients to the licensed SVG exchange.

  • Consultrio maps this structure so that SVG has enough substance to satisfy VABA and the FSA, while the group remains commercially efficient.

Process

Our Process for SVG Crypto Exchange Licensing

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Step 1 – Exchange Model & Jurisdiction Fit

  • Clarify your product scope: spot, margin, derivatives, staking, P2P, OTC.

  • Map whether SVG VASP alone is sufficient or should be combined with UAE or other licences.

  • Identify red flags (e.g. leverage, geo-focus, token types) early.

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Step 2 – SVG Entity & Group Structuring

  • Incorporate or adapt your SVG entity to be VASP-ready.

  • Position the SVG company within your broader group (tech, treasury, marketing).

  • Align structure with VABA, FSA expectations and future banking relationships.

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Step 3 – Licensing Pack for a Crypto Exchange

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  • Consultrio prepares enhanced AML/CFT, KYC/KYB, sanctions and market abuse policies.

  • Order-handling, best execution and conflict-of-interest procedures.

  • Business plan, financial projections and risk register built around order-book or OTC flows.

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Step 4 – Banking, EMIs & Fiat On/Off-Ramps

  • We shortlist banks and EMIs that are realistic for SVG-licensed VASPs and exchanges.

  • Design fiat–crypto flows and client money arrangements so that providers and regulators are comfortable.

  • Integrate this with your existing Consultrio crypto banking / high-risk banking strategy if you already engaged us on those services.

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Ready to start?

Kick off your crypto exchange in St. Vincent and Grenadines

Share a few details about your project and we’ll walk you through the next steps to structure your crypto exchange company in SVG.

Requirements for Obtaining a Crypto Exchange License in SVG

  • Eligible entity type: SVG Business Company (BC) incorporated under the Business Companies Act.

  • Shareholders & directors: Minimum 1 shareholder and 1 director, corporate or individual.

  • Registered office: Mandatory local registered office and licensed service provider.

  • Local presence: Physical presence not required, but a compliance representative is recommended.

  • Permitted activities: Virtual Asset Service Provider (VASP) activities under the AML/CFT Act — including operating a crypto exchange / OTC desk, providing virtual asset transfers, and facilitating client transactions.

  • Fit & Proper: All shareholders, UBOs, and directors must meet fit-and-proper requirements and must not appear on sanctions lists.

Corporate Requirements

  • AML/CFT Program: Full AML/CTF compliance framework aligned with the SVG FIU guidelines.

  • Policies & Manuals: AML/CTF Manual, Client Acceptance Policy, Transaction Monitoring Procedures, Risk Assessment, and Internal Controls.

  • Compliance Officer / MLRO: Appointment of a qualified AML Compliance Officer and MLRO (can be outsourced through approved providers).

  • KYC/EDD: Mandatory identification and verification for all clients, including enhanced due diligence for high-risk profiles.

  • Recordkeeping: Minimum 5-year retention of KYC files, transaction logs, and communication records.

  • Regulatory Reporting: Suspicious Activity Reports (SARs) filed with the SVG Financial Intelligence Unit (FIU).

Compliance Requirements

  • Minimum capital requirement: EC$300,000

  • Statutory deposit: EC$100,000 or 25% of total client financial obligations (whichever is greater), held with an approved institution

  • Ongoing paid-up capital: at least EC$50,000 maintained at all times

  • Security Standards: Exchange platform must implement multi-layered cybersecurity, wallet security, segregation of client assets, and access-control mechanisms.

  • Audit & Testing: Technology architecture and platform operations should align with industry best practices.

  • Local audit: Annual compliance and financial reporting may be requested depending on business model complexity.

Capital & Operational Requirements

FAQ

Frequently asked questions

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Costs of Obtaining a Crypto Exchange License in St. Vincent & the Grenadines

Use this cost breakdown to understand the government fees, incorporation expenses and annual obligations for an SVG-licensed crypto exchange.

One-Time Setup Costs

  • License Application fees: $1,500

  • Company incorporation (SVG BC): $4,500

  • Compliance documentation package: $15,000

  • AML / MLRO appointment (if outsourced): $3,000–$7,500 annually

  • Technology / platform readiness: Varies

Annual Recurring Costs

  • Annual license renewal: $4,500

  • Registered agent & office: $1,500

  • Principal representative fees: $6,000

  • AML / compliance upkeep: $2,500–$5,000

Summary

  • Estimated total setup cost: $20,000$+

  • Estimated annual operating cost: $8,000–$15,000+

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Pros

Why SVG for a Crypto Exchange License?

1. Dedicated VASP regime, not a legal vacuum

SVG moved from “unregulated crypto/forex” to a clear Virtual Asset Business framework – you now operate under an actual licence instead of opinion letters.

2. Exchange explicitly in scope

Running a digital asset exchange (order-book, market-making, brokerage) is a regulated VASP activity, giving you a defined legal basis to onboard users and partners.

3. Lower cost & lighter overhead than tier-1 hubs

Compared to UAE or EU regimes, SVG usually offers lower government fees, simpler processes and shorter timelines, while still being a recognised jurisdiction for crypto exchange companies.

4. Useful in multi-jurisdiction groups

Many projects use SVG as part of a group structure: SVG for exchange/VASP activities, other entities for tech, treasury or marketing.

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