Seychelles VASP – Crypto Exchange Use Case
How to Get a Crypto Exchange License in Seychelles Under the VASP Regime
Seychelles has moved from a “light touch” offshore hub to a fully regulated virtual asset centre with the introduction of the Virtual Asset Service Providers Act, 2024 (VASP Act) and its supporting regulations. The regime covers exchanges, wallets, broking and investment services in or from Seychelles, and makes a Seychelles VASP license mandatory for any crypto business targeting this market or operating from the islands.
For exchange operators, Seychelles offers a clear authorisation framework, competitive capital requirements and a tax-neutral environment for international business. Typical authorisation timelines range from 3–6 months for a well-prepared application, making Seychelles one of the faster credible options for a regulated offshore crypto exchange.
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Pros
Why Seychelles for a Crypto Exchange License?
No Crypto License Required (Non-Custodial Model)
Operate a spot or OTC crypto platform legally as long as you do not custody user funds or settle transactions on behalf of clients.
Fast & Simple Company Setup
Seychelles IBCs can be incorporated within 24–48 hours with minimal documentation and no on-island presence.
Global Reputation for Offshore Technology Businesses
Seychelles is home to many well-known fintech and digital asset platforms due to its flexible corporate environment.
Cost-Efficient for Scaling
No licensing fees, no capital requirements, and low annual maintenance costs.
What “Crypto Exchange” Means Under Seychelles Regulatory Framework
Seychelles does not currently regulate spot crypto trading, meaning that a platform may operate legally as long as it does not engage in activities that fall under the Seychelles Securities Act—such as derivatives trading, leveraged products, custody, market-making, or handling fiat settlements. A Seychelles-registered crypto exchange must therefore operate on a non-custodial model, allowing users to trade digital assets while retaining control over their own wallets.
Centralised order-book exchanges (CEX) (non-custodial execution only)
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).
Structure
Seychelles Crypto Exchange Company: Typical Structure
Seychelles IBC (Exchange Operator)
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Operates the platform front-end and matching engine
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Contracts users under Seychelles corporate law
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No custody of client digital assets or fiat funds
Technology / IP Entity
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Owns the exchange software, engine, and IP
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Handles tech development, security, and engineering staff
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Usually located in EU, UAE, UK, or offshore tech hubs
Treasury / Liquidity & Support Entities
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Handles operational bank accounts and treasury
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Sets up EMI/PSP relationships for fiat processing
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Often placed in EMI-friendly jurisdictions
Requirements for Registering a Crypto Exchange Company in Seychelles
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Seychelles International Business Company (IBC)
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Minimum 1 director & 1 shareholder (any nationality)
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No paid-up capital requirement
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Registered agent and local registered office required
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Beneficial ownership must be declared privately (not public)
Corporate Requirements
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Non-custodial technical architecture
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KYC/AML policy recommended for global banking partners
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Transaction monitoring guidelines for high-risk clients
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Privacy policy, Terms of Use, and Risk Disclosures
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Data protection aligned with GDPR best practices
Compliance Requirements
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No minimum capital requirement
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No statutory deposit
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Secure, decentralised wallet architecture recommended
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Proper documentation of business model for EMIs/PSPs
Capital & Operational Requirements
Process
Our Process for SVG Crypto Exchange Licensing
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Step 1 – Exchange Model & Jurisdiction Fit
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Review your exchange features (custody, liquidity, order flow)
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Confirm non-custodial compliance to avoid licensing triggers
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Advise optimal multi-entity structuring
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Step 2 – Seychelles IBC & Group Structuring
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Incorporate IBC within 24–48 hours
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Prepare corporate resolutions, BO declarations, and agreements
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Connect IBC with technology and treasury entities
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Step 3 – Documentation Pack for a Crypto Exchange
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Prepare KYC/AML guidelines (recommended)
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Draft Terms of Use, Disclaimers, Risk Statements
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Prepare EMI/PSP onboarding documentation
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Step 4 – Banking, EMIs & Fiat On/Off-Ramps
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Introduce crypto-friendly EMIs (EU/UK/Lithuania)
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Structure fiat settlement flows
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Guide ongoing compliance and risk assessments
One-Time Setup Costs
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Seychelles IBC incorporation: $3,500
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Corporate documents + resolutions: $250–$400
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Non-custodial exchange documentation pack: $2,500 - $ 5,500
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Optional AML/KYC framework: upon request
Annual Recurring Costs
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Registered agent & government renewal: $800–$1,200
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Nominee director (optional): $1,500 - $ 2,500
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Annual compliance support (optional): $1,000–$2,000
Summary
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Estimated total setup cost: $4,500+
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Estimated annual operating cost: $1,800–$3,500+
FAQ
Frequently asked questions
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