Get a Seychelles VASP Licence to Run a Crypto Exchange, Wallet, Brokerage or Investment Service
The Virtual Asset Service Providers Act 2024 made Seychelles a fully licensed jurisdiction for crypto businesses, regulated by the FSA. We handle the company formation and the full VASP application.
What is a Seychelles VASP licence?
A VASP (Virtual Asset Service Provider) licence is how a business legally provides virtual-asset services from Seychelles. It is issued by the Financial Services Authority (FSA) under the Virtual Asset Service Providers Act 2024, which came into force on 1 September 2024 and made Seychelles a fully licensed crypto jurisdiction for the first time. The Act covers four categories of activity: running a virtual-asset exchange, providing wallet or custody services, broking in virtual assets, and offering virtual-asset investment or advisory services. If your business actually deals in, exchanges or holds the underlying crypto for clients, this is the licence you need.
Why choose Seychelles for a crypto licence?
A dedicated, modern crypto law - the 2024 Act and its regulations give you a clear FSA framework rather than a grey-area registration, which matters for banking and counterparty relationships.
Lower capital than tier-1 hubs - minimum paid-up capital starts at US$25,000 for wallet/custody and runs to US$100,000 for investment providers, well below EU or Gulf thresholds.
Four categories under one regime - apply for one activity or stack several (many exchanges take both custody and exchange) under the same Act.
English common-law base - company and contract law most international founders already understand.
A respected mid-tier badge - a real FSA licence signals to banks and partners that you are regulated, not unregistered.
Who is it for?
Good fit:
crypto exchanges
custody and wallet providers
OTC desks and brokers dealing in virtual assets
token-investment and advisory firms
Web3 businesses that take custody of or trade the underlying assets for clients
Not a fit: anyone who only wants to offer CFDs on crypto prices (that is a Securities Dealer Licence - see the FAQ below), mining or mixer/tumbler operators (both are prohibited under the Act), or founders who can't meet the capital, local-substance and compliance load. If you're early-stage and testing an idea, an unlicensed IBC will not let you legally take client assets - the licence is mandatory for that, so talk to us before you commit.
What it actually costs
Most pages quote a single low number, or just blog about the topic without a real price. We won't. Our engagement fee - incorporation, application assembly, review and FSA liaison - starts at US$15,000. That is a small fraction of the real cost of getting and running a licensed VASP. You also need to budget for category-specific paid-up capital, the FSA's application and annual fees, a resident director, a full-time compliance officer and MLRO, a physically manned office in Seychelles, an auditor and ongoing AML/CFT compliance. A realistic all-in budget for a live, compliant VASP commonly runs from the mid-six figures into seven figures in the first year, depending on the category. If your budget is below that, the licence isn't the right step yet - and we'll tell you so.
What the FSA Requires
Category-specific minimum paid-up capital - commonly US$25,000 (wallet/custody), US$50,000 (exchange), US$50,000 (broking) and US$100,000 (investment provider). From year three, every licensee must hold capital of at least 2.5% of annual turnover. Exact figures are set in the Capital Regulations and confirmed at consultation.
A Seychelles company as the licensed entity, with a registered office
A resident director present in Seychelles for 183 days or more in a 12-month period
A full-time, resident compliance officer (appointed within 30 days of starting operations; cannot be outsourced) plus an alternate, and a Money Laundering Reporting Officer (MLRO)
A physically manned office in Seychelles - a registered address alone is not enough; you show a lease or letter of intent at application
At least two board meetings and four management meetings held in Seychelles each year
An auditor and annual audited financial statements
A full AML/CFT framework - customer due diligence, transaction monitoring, Travel Rule compliance and suspicious-transaction reporting to the Financial Intelligence Unit
Paid-up capital held with a bank that meets Basel II standards or higher (it does not have to be a Seychelles bank)
Fit-and-proper documents for each director, officer and beneficial owner: certified passport, CV, qualifications, police clearance, references and proof of source of funds
A detailed business plan, financial projections, cyber-security and client-asset-safekeeping policies
What's Included in Our Seychelles Crypto / VASP Licence Package
What our engagement fee covers:
Incorporation of the Seychelles company that will hold the licence
Registered office in Victoria
Company name reservation and constitutional documents
Help preparing the business plan and financial projections
AML/CFT, cyber-security and client-asset-safekeeping manual templates
Assembling and reviewing the full FSA VASP application pack
Submitting and liaising with the FSA through to a decision
Coordinating fit-and-proper documentation for directors, officers and shareholders
Introductions for the resident director, compliance officer, MLRO and auditor where needed
Guidance on the capital deposit and Basel II bank requirements
Not included
the paid-up capital itself · resident director, compliance officer and MLRO salaries · office lease and staffing · audit fees · the FSA's own application and annual fees · ongoing post-licence AML and compliance.
How It Works
01.
Scoping call
We confirm which VASP category (or categories) your model needs - exchange, wallet/custody, broking or investment - and whether a VASP licence is the right route or a Securities Dealer Licence fits better.
02.
Company formation
We incorporate your Seychelles company and put the registered office in place.
03.
Application build
We prepare the business plan, financial projections and AML/CFT, cyber-security and client-asset policies, and gather fit-and-proper documents for every director, officer and shareholder.
04.
Capital & substance
You deposit the category-specific capital in a Basel II bank and we help line up the resident director, compliance officer, MLRO and a manned office.
05.
FSA submission
We submit the complete application and respond to the regulator's questions on your behalf. The FSA only starts the clock once all documents and the application fee are in.
06.
Licence & launch
On approval (commonly six to eight months from formation for a well-prepared file), you appoint your auditor and compliance officer, hold your required Seychelles meetings, and begin operating; we stay on to handle your renewals and filings.
Seychelles Crypto / VASP Licence Pricing
Engagement fee
from
Incorporation, application assembly, review and FSA liaison.
You also budget for:
Category-specific paid-up capital (commonly US$25,000-US$100,000, more from year three at 2.5% of turnover)
FSA application fee and category-based annual licence fee
Resident director, full-time compliance officer & MLRO
Physically manned office in Seychelles
Auditor and ongoing AML/CFT compliance
Realistic first-year all-in: substantial - commonly mid-six to seven figures depending on the VASP category.
Pairs Well With
What Our Clients Say
Thinking about a Seychelles crypto licence?
Book a free scoping call. We'll tell you honestly whether you need a VASP licence or a Securities Dealer Licence, which category fits your model, and map the full cost and timeline before you commit a cent.