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VASP License in SVG: How to Get a Virtual Asset Service Provider License in St. Vincent & the Grenadines
In 2025, St. Vincent & the Grenadines (SVG) introduced a comprehensive regulatory framework for Virtual Asset Service Providers (VASPs). This new licensing regime provides clarity for crypto exchanges, wallet providers, and digital asset businesses operating within or from SVG.
If you plan to run a crypto-related service, obtaining a VASP license in SVG is now a legal requirement. Below, we explain the eligibility criteria, licensing process, fees, timeline, compliance duties, and strategic benefits of registering your VASP in this growing Caribbean jurisdiction.
How Consultrio Can assist from A to Z in VASP Application in SVG
We help incorporate your SVG company, secure name approval, and appoint a local representative — creating the legal foundation for your VASP license.
Our team drafts all required AML/CFT, cybersecurity, and risk policies aligned with the Virtual Assets Business Act, 2024 and FATF standards.
We handle your full VASP license filing with the Financial Services Authority (FSA), ensuring accuracy and faster approval turnaround.
After licensing, we assist with audits, AML reporting, and renewals — keeping your business fully compliant with SVG’s regulatory framework.
VASP Application Costs in SVG
Understanding the costs of a VASP license in St. Vincent & the Grenadines (SVG) helps you plan your setup efficiently.
SVG offers one of the most affordable regulated licensing regimes in the Caribbean — making it ideal for startups and fintechs seeking a reputable yet cost-effective jurisdiction.
1. VASP Government Application Fee
EC$ 4,000 (≈ USD 1,500)
2. VASP Annual License Fee
EC$ 12,000 (≈ USD 4,500)
3. Statutory Deposit / Capital Requirement
EC$ 100,000 (≈ USD 37,000)
4. Compliance Documents review and adaptation
USD 6,500
5. VASP License Application Submission and project management fees
USD 7,500
Post Licensing Requirements
Once your VASP license in SVG is approved, maintaining compliance with the Financial Services Authority (FSA) becomes a continuous obligation.
Licensed entities must adhere to ongoing reporting, auditing, and operational standards to remain in good standing.
Below are the key post-licensing requirements every SVG-licensed VASP must follow.
1. Ongoing AML/CFT Compliance
All VASPs must continually comply with the Proceeds of Crime Act and AML/CFT Regulations.
This includes implementing regular risk assessments, conducting KYC and customer monitoring, filing Suspicious Activity Reports (SARs) to the Financial Intelligence Unit (FIU), and keeping AML/CFT policies up to date with FATF standards.
2. Additional post licensing Documents
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Valid Professional Indemnity Insurance at a minimum of US$1M;
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Prospectus (must be submitted to the FSA for review 14 days before proposed date of
its publication) -
Contract between the VASP and the Promoter and All other contractual service agreements;
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Certified true copies of all certificates/licenses that are required by other jurisdictions in which the VASP is doing business.
3. Annual Audit & Financial Reporting
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Every licensed VASP is required to maintain accurate financial records and appoint an external auditor approved by the FSA.
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Audited financial statements must be submitted annually, demonstrating capital adequacy, transparency, and the proper safeguarding of client assets.
Types of VASP Structures in St. Vincent & the Grenadines
Choosing the right VASP structure is key when applying for a license in SVG.
Each option—like a crypto exchange, wallet provider, or token issuance business—has unique requirements, compliance obligations, and benefits.
Exchange VASP
A private limited company is the most common choice when you register a company in HK.
It offers limited liability, a separate legal identity, and strong international credibility.
Perfect for startups and small to mid-sized businesses planning for growth.
Wallet Service Provider
Perfect for fintechs offering digital wallets or custody solutions.
Lower capital requirements and easier compliance compared to exchange licenses, while still providing full regulatory legitimacy.
Token Issuer / ICO Operator
Best for blockchain projects launching tokens or running fundraising campaigns.
Allows you to issue tokens legally and meet AML/CFT obligations under a licensed structure.
Advisory or Broker VASP
Suited for businesses providing crypto-related consulting, brokerage, or investment advice.
What you'll need
Eligibility and Requirements to obtain VASP License in Saint Vincent and Grenadines
Testimonials
Proud to partner with amazing clients worldwide
Alex Romano
Director, BlueCap Holdings Ltd.
(Cayman Islands)
"I needed an international business structure for my investment firm and wasn’t sure where to start. Consultrio team offered a clear strategy, registered our IBC in Cayman Islands, and opened both business and personal accounts with a reliable global multi-currency bank."
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Dr. Natalia
Founder of Timoshenko Clinics (UAE)
Provided a great support at all stages of our project, thank you very much. Their knowledge of the local healthcare regulations was invaluable, and thanks to their support, we were able to launch on schedule without delays"
Jitedra Kumar
Nurpex Chemicals (UAE)
"Their attention to detail when it came to structuring our holding company saved us a lot of future headaches. They clearly explained the legal and tax implications and helped us register under the right jurisdiction. The support didn’t stop there—they followed through until our corporate bank account was fully operational."
Have Questions?
Book a complimentary call with our licensing expert
Choose a convenient time to chat with our licensing agents in Saint Vincent adn Grenadines and get the answers you need to take the next step.
Process
VASP Application process in SVG in 4 steps
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Incorporate Your SVG Company
(7 Days)
We start by incorporating your company in St. Vincent & the Grenadines — typically as a Business Company (BC). This provides your legal foundation and local presence required by the Financial Services Authority (FSA).
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Prepare Legal & Compliance Documents
(20 - 25 Days)
Our team drafts and compiles all mandatory documents — including the Business Plan, AML/CFT and Cybersecurity Policies (as per the Virtual Assets Business Act, 2024), fit-and-proper declarations, and supporting due diligence forms.
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Submit Application to the FSA
(5 Days)
Once documentation is ready, we file your full VASP license application with the SVG Financial Services Authority. The FSA reviews your submission, may request clarifications, and performs due diligence on shareholders and directors.
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Receive Approval & Launch Operations
(90 Days)
After regulatory approval, you receive your official VASP license and can begin operations. We assist with post-licensing steps — including opening your corporate bank account, insurance setup, and ongoing compliance registration with the FIU.
FAQ
Frequently asked questions
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Advantages
Why Choose SVG for Your VASP License
1. Regulated and Emerging Jurisdiction
SVG’s Virtual Asset Business Act, 2022 (VABA) introduces clear rules for the operation of crypto businesses. It aligns the country with international best practices and FATF standards.
2. Strategic Offshore Benefits
St. Vincent offers a favorable tax regime, business flexibility, and a cost-effective setup—ideal for startups and international digital asset companies.
3. Strong Oversight and Reputation
The SVG Financial Services Authority (FSA) oversees VASPs, ensuring compliance, transparency, and consumer protection. This enhances the jurisdiction’s reputation for serious and responsible crypto governance.
4. Cost-Effective Setup
SVG offers one of the most affordable VASP licensing options worldwide. While jurisdictions like the Cayman Islands, BVI, or Bermuda often exceed USD 60K–150K, a full VASP license in SVG — including setup, legal, and compliance costs — can typically be obtained for under USD 30,000. This makes SVG a cost-efficient, reputable choice for crypto and digital asset firms seeking regulated status without heavy capital requirements.