Our provisional best offshore crypto licenses for 2025

Certainly, if you landed on this page, you may have heard about such or such offshore jurisdictions, that would be accepting and even incentivizing crypto companies. Our experience shows that these grounds move swiftly and that a lot of talented entrepreneurs are getting misled by the news or by mouth of word. To help you assess practical, proven solutions, we have put out this short top 5 of jurisdictions that we deem valuable choices for crypto projects in 2025. Next year, the ranking may be different, as the landscape changes often.

Anjouan

At the top of the list is Anjouan: an island of the Comoros in Eastern Africa, which is a haven for crypto-related and other financial activities. One of the strongest points of the Anjouan license is that it is recognized by banking institutions, which makes its reputation stand out compared to other offshore jurisdictions. The Offshore Finance Authority (OFA), which is responsible for granting licenses in Anjouan, does not impose any mandatory AML-CFT compliance requirements, which considerably speeds up the authorization process for startups.

Overall, the entire licensing procedure in Anjouan with a trusted legal partner takes around 2 weeks, and the obtained permit allows for such activities as crypto-to-fiat and crypto-to-crypto exchanges, custody, ICO, ITO, crypto mining, liquidity provision, CFDs, and trading. The process involves registering a company in Anjouan, preparing a set of legal documents (identity information of the shareholders and directors and corporate legal documents), and submitting the licensing application.

Georgia (VASP and FIZ)

In addition to its strategic location in Eurasia, Georgia offers surprisingly lenient licensing requirements for crypto startups, thus fostering innovation in the sector. There are two types of legal permits you can obtain there: a mainland VASP license and a Tbilisi Free Industrial Zone (FIZ) license. The Georgia VASP license is granted by the National Bank of Georgia after the candidate fulfills certain requirements, such as company incorporation with a local office and director, preparation of legal paperwork, such as ID documents of participants, director’s CV, description of the company’s activities, and AML-CFT policies, and the payment of a licensing fee of 5.000 GEL (around 1.750 EUR).

The Georgia FIZ license is a simpler alternative to the VASP permit. It is granted by the Tbilisi Free Zone and is different from the mainland license: both the corporate income tax and VAT are at 0%, the requirements are lighter, with only company formation and a set of basic documentation along with Power of Attorney, and obtainment of a legal address in Georgia. At the same time, the FIZ license allows for an extensive set of activities: crypto-to-crypto and crypto-to-fiat exchanges, custodial services, ITO, ICO, and crypto mining. Once the license is obtained, the company will have to renew it, along with its legal address, after a year of operation: this is done extremely quickly by simply paying the renewal fee to the regulator.

El Salvador

Among all offshore jurisdictions licensing crypto businesses, El Salvador is perhaps the most exciting one to open a company in. This Central American state has the reputation of being the “Bitcoin country” due to the fact that it qualifies Bitcoin as legal tender. Consequently, El Salvador’s entire regulatory framework for cryptocurrencies, the Digital Asset Services Providers (DASP), stems from its Bitcoin Act.

The 2023 DASP Regulation made the licensing process in El Salvador extremely clear and straightforward. To obtain a DASP license in the country, a startup must have at least 2 shareholders and appoint such key personnel as a compliance officer, a computer security officer, and a local director (or a legal representative) in El Salvador.

There is also a share capital requirement of 2,000 USD, with 100 USD paid up, which is considerably lower compared to the country’s onshore counterparts. It is important to remember that, by licensing a company in El Salvador, an entrepreneur falls under the duty to pay a 30% corporate income tax on net profits, as well as a monthly tax of 1.75% on gross income.

Costa Rica

Costa Rica has been actively establishing a reputation as the best country for Web3 and other complex crypto-related projects. This is no surprise given its progressive stance towards innovation in the crypto sphere. Consequently, the crypto license in Costa Rica is also one of the easiest and fastest to obtain: it takes from one to six business weeks, involves no economic substance requirements, and no taxes imposed on the income generated outside Costa Rica.

In order to obtain a crypto license in Costa Rica, one must conduct a legal preparation of the crypto activity, which includes drafting compliance policies according to the FATF recommendations, customer complaint handling forms, Terms of Service, a risk disclosure statement, and a privacy policy. Right after, one forms a Limited Liability Company in Costa Rica and submits a licensing application with a set of required legal documents attached.

Mauritius

Not considered a tax haven anymore, Mauritius has been improving its crypto regulatory framework to comply with international standards. Still, the country offers comparatively beneficial taxation policies to this day, meaning that now is probably the best time to seize the opportunities provided by Mauritius to crypto startups. The local crypto license aligns well with the Investment Dealer License, allowing entrepreneurs to provide a variety of services at once while staying legally compliant. In addition, the Mauritius license is recognized by the banks, which for startups means an easier process of opening corporate bank accounts.

To license a crypto company in Mauritius, one will have to compile a set of legal documents, including a certificate of incorporation, business and management plans, AML-CFT policies, KYC and customer due diligence, and written authorization of the directors. There is also a minimum capital requirement, licensing fee, and an annual fee, which all depend on the license class: Virtual Asset Broker-Dealer, Virtual Asset Wallet Services, Virtual Asset Custodian, Virtual Asset Advisory Services, Virtual Asset Marketplace, and ITO.

Seize the best opportunities with an offshore crypto license

Offshore crypto licenses have become rightful alternatives to MiCA licenses due to their significantly lighter requirements and fast registration processes. Despite all the benefits that an offshore license can bring to your crypto project, it is still important to retain caution when opting for one. A certified legal advisor like LegalBison can help you choose the right jurisdiction for your startup and curate the entire licensing procedure for you to rid you of any possible regulatory risks. Has any of the offshore crypto licenses caught your attention? Do you want to know more details about it? LegalBison is one call away.