Crypto license in the Seychelles
Exchange, paid-up
Капитал биржи
USD 100,000
100 000 USD
Application fee
Сбор за заявку
SCR 75,000
75 000 SCR
Exchange, per year
Биржа, в год
SCR 450,000
450 000 SCR
Decision window
Срок решения
3 months to 2 years
3 месяца – 2 года
When the Seychelles crypto licence applies to you
Your exchange takes money in
Swapping coins for currency, or one coin for another, on behalf of clients is the exchange licence: the largest capital requirement of the four and the largest annual fee.
You keep the keys for clients
Safekeeping, transferring or managing coins and the instruments that control them puts you in the wallet provider licence, whoever the client is.
You place orders for others
Broking sits in its own licence with its own capital floor, and the licence you hold has to match the activity written into your approved application.
You manage client portfolios
Investment providers carry the lightest capital floor of the four types, and the same office, board and reporting duties as everyone else on the islands.
You mine or run a mixer
Both are banned outright in or from the Seychelles, for licensees and anyone else, and the ban sits in the Act itself.
What you get
- A licence type matched to what you actually do
- A board and key people who pass fit and proper
- Presence on the islands that survives inspection
- Capital and insurance evidenced the way the rules ask
- The filing, the interview and the follow-up questions
What is required for a Seychelles crypto licence
What regulations apply to crypto companies in Seychelles
One Act, in force since 1 September 2024, and six sets of regulations under it: licensing, capital, safekeeping of client assets, cybersecurity, advertising and the registration of token and collectible issues.
Only two kinds of company may apply: a company under the Companies Act of 1972, other than an overseas company, or an international business company. An individual cannot hold the licence at all.
Presence the licence actually demands
- At least one director who lives on the islands and is there 183 days or more in any twelve months, on a board of at least two, all of them individuals.
- A fully manned office in the Seychelles, staffed by people qualified to run it.
- Records and documents kept available and accessible from that office.
- Complaints handled in the Seychelles, not forwarded elsewhere.
- Two board meetings and four management meetings a year, held on the islands.
Capital, reserves and cover
Paid-up capital is proved at application, in cash, bonds or another security the Authority approves, and held with a licensed bank or an institution meeting the Basel II standard. Run two activities and you hold the amount for each. From the start of the third year the figure becomes 2.5% of annual turnover.
Separately, reserve assets or money equal to the full amount owed to clients are kept in separate accounts, and professional indemnity insurance plus cover for client assets is held throughout.
Fees in rupees, capital in dollars
The Act sets fees in Seychelles rupees and the capital rules set thresholds in dollars. Converting either hides which currency the rule is written in, so both stay as published.
| Licence type | Paid-up capital, USD | Annual fee, SCR |
|---|---|---|
| Virtual asset exchange | 100,000 | 375,000 plus base |
| Virtual asset wallet provider | 75,000 | 300,000 plus base |
| Virtual asset broking | 50,000 | 150,000 plus base |
| Virtual asset investment provider | 25,000 | 75,000 plus base |
The base annual fee is SCR 75,000 for everyone and is added to the activity line above, so an exchange pays SCR 450,000 a year. Applying costs SCR 75,000, and a fit and proper assessment requested later costs SCR 15,000.
How long the Authority takes
The published service standard runs from three months to two years from a complete application, by complexity. Within 90 working days you are told whether the file is incomplete and therefore refused, and a refusal forfeits the application fee. A rejected applicant waits six months before filing again.
What the Authority says about weak files
In November 2025 the Authority set out what it keeps finding: generic or machine-written policies with nothing local in them, nominated directors without the standing to hold the role, and presence claimed on paper but absent in fact. It also stated plainly that it does not hold applicants' hands through the process.
Country context beyond this licence sits on our Seychelles page.
Sources: Virtual Asset Service Providers Act, 2024 (Act 12 of 2024), ss. 5, 6, 7, 13, 14, Second and Third Schedules; Commencement Notice SI 65 of 2024; Capital and other Financial Requirements Regulations SI 72 of 2024; Licensing and Ongoing Requirements Regulations SI 73 of 2024; FSA licence application guidelines, 28 April 2025; FSA Circular 14 of 2025.
Stages of work
Licence type and company form
We fix which of the four types your activity falls under, and whether the applicant is a domestic company or an international business company. The type decides the capital and the annual fee.
Board and key people
The resident director, the second director, the principal officer and the compliance officer are identified early, because every one of them goes through the fit and proper assessment before the licence exists.
Presence built before filing
Office, staff, records access, complaints handling and the meeting calendar have to be real at the moment you apply. The Authority treats presence promised for later as presence missing.
Capital and insurance evidenced
Paid-up capital goes into an acceptable bank or instrument and is documented, the client reserve is separated, and professional indemnity cover is placed with an insurer the Authority accepts.
Application and fee
The pack goes in through the Authority's portal with the SCR 75,000 fee. Nothing is reviewed until both arrive, and a woefully incomplete pack is rejected with the fee gone.
Interview and demonstrations
Applicants can be asked to sit an interview and to demonstrate the system itself. Requests for further information carry deadlines, and a missed deadline is read as withdrawal.
After the licence
An auditor is appointed within 30 days of licensing, audited accounts go in within six months of the year end, and the business risk assessment is refreshed every three years.
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