Seychelles Crypto License: Full 2026 Guide (Requirements, Costs & Process)

Incorporation of a Seychelles-registered entity (IBC or other permitted corporate structure) as required under the Financial Services Authority (FSA) regulatory framework.

Appointment of at least 1–2 directors, with fit-and-proper assessments covering integrity, competence, experience, and financial soundness (in line with FSA expectations for Virtual Asset Service Providers).

Disclosure of UBOs, directors and senior officers, including due diligence documentation for all controlling parties.

Maintenance of a registered office and licensed local corporate service provider in Seychelles, as mandated for all entities regulated under the FSA.

A comprehensive AML/CFT framework compliant with FATF Recommendations, tailored to the business model of the crypto exchange, brokerage, OTC desk or custody provider.

Appointment of an MLRO and deputy MLRO with demonstrated AML expertise — outsourcing is permitted if aligned with FSA oversight expectations.

Documented KYC/EDD procedures, customer risk scoring, and ongoing transaction monitoring calibrated to your risk profile.

Robust risk assessment procedures, suspicious activity reporting workflows, and internal controls meeting FSA-aligned supervisory standard

Seychelles does not set a fixed statutory minimum, but the FSA expects adequate financial resources to support your crypto exchange, OTC, custody or brokerage model.

You must show adequate financial resources and liquidity buffers relative to your risk profile and business scale according to Virtual Asset Service Provider (Capital and other Financial Requirements) Regulations 2024

Applicants must demonstrate liquidity buffers, operational capability, and financial resilience proportionate to transaction volume, business scale, and overall risk exposure.

A clear operational plan is required, covering staffing, compliance oversight, internal controls and day-to-day processes.

The business must be operationally ready at the time of licensing, with procedures for onboarding, monitoring and safeguarding client assets.

Higher-risk models (especially custody and trading platforms) may be asked to maintain stronger capital buffers and enhanced controls.

According to Virtual Asset Service Provider (Cyber Security Requirements) Regulations 2024, you must operate on a secure, resilient IT infrastructure that can safely support crypto exchange, custody, brokerage or OTC crypto operations.

The FSA expects strong cybersecurity controls, including encryption, multi-factor authentication, secure key storage and continuous system monitoring.

Licensed entities must maintain clear IT and data protection policies, covering system access, change management, logging and incident response.

A secure wallet architecture (e.g. cold storage, segregated wallets, strict key management) is required to safeguard client assets.

You must have a documented business continuity and disaster recovery plan to ensure operations can continue in case of outages or cyberattacks.