Crypto License in Saint Vincent and the Grenadines
With the enforcement in 2025 of the Virtual Asset Business Act, the SVG crypto license has gathered a lot of interest, as it completely changes the rules for virtual asset services providers (VASPs) registered in this country. Below, we cover the totality of the changes and requirements to apply for a crypto license in SVG.
Quick facts: Saint Vincent and the Grenadines Crypto License
| License Type | Virtual Asset Service Provider (VASP) |
| Regulator | SVG Financial Services Authority |
| Timeframe | from 5 months |
| Government fees | 4,000 XCD (application, about 1,500 USD) + 12,000 XCD (registration, about 4,500 USD) |
| Minimal capital |
|
| Corporate tax | 0% |
| Key advantages | Very low economic substance requirements, zero taxes, enabling framework |
Discover the new 2025 crypto license in Saint Vincent and the Grenadines. LegalBison assists crypto businesses with the new Virtual Asset Business Regulations of 2025.
- Favorable tax regime: the SVG framework simply does not include any form of taxation on cryptocurrency businesses, whether it’s income tax, dividends or capital gains tax;
- Low economic substance requirement: except for the appointment of a Principal Representative and a Money Laundering Reporting Officer (both outsourceable), there are no economic substance requirements such as a physical office;
- Prestigious offshore jurisdiction: famous for its financial regulatory landscape and income tax exemption, Saint Vincent and the Grenadines is a long standing popular jurisdiction for all sorts of financial services providers;
- Low cost regulatory landscape for crypto: the SVG license for digital assets is one of the most attractive business environment in terms of costs. With about 6,000 USD of fees for obtaining the license and just 18,500 USD of share capital to deposit, cryptocurrency companies in SVG are among the cheapest offshore set-ups.
Does SVG sound like the ideal place to settle your crypto company? Let’s have a talk together. LegalBison offers a free consultation for all entrepreneurs willing to start a cryptocurrency business. We will provide concrete details on your opportunities in Saint Vincent and the Grenadines. For more information, read more.
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Regulatory Overview: Virtual Assets Services Providers license in Saint Vincent and the Grenadines
The crypto license in Saint Vincent and the Grenadines was created in response to the numerous crypto businesses that were willing to set up in this small Caribbean country. A popular jurisdiction for international business and offshore activities, “SVG” was famously tolerating crypto projects to operate unregulated until the issuance of its Virtual Asset Business Act in 2022 (enforced in 2025).
Cryptocurrency business has always been legal in Saint Vincent and the Grenadines. Until 2025, cryptocurrency related activities were accepted and unregulated, and any SVG company was free to offer virtual assets services.
Saint Vincent and the Grenadines was especially popular among many entrepreneurs due to the unregulated nature of Forex activities. This allowed for dual crypto/forex projects that did not require licensing. This era is over, as the Financial Services Authority no longer tolerates these activities without license. Contrary to popular belief, there is no Forex license in SVG. Any company willing to offer Forex brokerage or trading with a SVG company is required to hold a Forex license in another jurisdiction.
On the matter of crypto, a law was issued in 2022 and enforced 3 years later, the Virtual Asset Business Act (or VABA for short). This virtual asset regulation defines what is a virtual asset business, what it requires to be registered as one and who has the power to grant the registration (the FSA).
In other terms, 2025 was the enforcement of the crypto license in SVG. This new regulatory framework is actually a registration, under conditions, as a digital asset business. It requires answering to a certain set of requirements and applying for authorization to the SVGFSA.
The Saint Vincent and the Grenadines Financial Services Authority (SVGFSA) is the regulatory body behind the SVG crypto license. It is the institution responsible for managing the framework and enforcing its rules. It is accompanied in its mission by the Saint Vincent and the Grenadines Financial Intelligence Unit (SVGFIU), which tackles all the aspects pertaining to financial compliance and topics such as anti-money laundering.
The SVGFIU enforces, for all cryptocurrency businesses in Saint Vincent and the Grenadines, AML-CFT laws and KYC / due diligence rules that are entirely based on the FATF guidelines.
The cryptocurrency license SVG is, in exact legal terms, a registration to the SVGFSA as a virtual asset business. Obtaining the registration requires paying an application fee and a yearly registration fee. To carry on with application, a company must have a registered share capital of at least 300,000 East Caribbean Dollars (50,000 of which must be paid up) and make a refundable deposit of 100,000 East Caribbean Dollars.
There is a single type of license in Saint Vincent and the Grenadines: the Virtual Asset Business registration.
This license permits to conduct the following activities:
- Exchange between a virtual asset and fiat currency;
- Exchange between one or more forms of virtual assets;
- Transfer of a virtual asset whether or not for value;
- Safekeeping or administration of a virtual asset or instruments enabling control over a virtual asset;
- Participating in and provision of financial services related to an issue or sale of a virtual asset.
Other, more complex crypto activities, may be accepted upon special request to the SVGFSA and due explanation of the business model. This is a case per case scenario.
It is worth adding that to conduct a token sale, a licensed SVG cryptocurrency business must first produce an information prospectus and have it approved by the FSA. It is not legal to sell a token without having informed and received the green light from the SVGFSA.
What are the key advantages of obtaining a Crypto License in SVG
The SVG framework is one of the most interesting offshore digital asset regulation, benefitting from low costs, great liberty of activity and a favorable fiscal environment (no corporate, withholding and capital gains tax).
- Low costs offshore crypto license: as getting a virtual assets services providers license tends to be increasingly expensive, the SVG framework shines by being one of the most affordable. With standard compliance requirements and ;
- Zero tax liabilities: not all offshore jurisdictions offer this to cryptocurrency companies. In Saint Vincent and the Grenadines, all VASPs are free from all types of taxations. The only recurring administrative cost for a licensed company is the annual fee;
- No economic substance requirements: a crypto licensed company in SVG doesn’t need to relocate. There are a few requirements on-site (having a Principal Representative and an AML/CFT Compliance Officer) but these are easily outsourced, effectively meaning that the company can be operated in remote;
- Wide crypto activity coverage: the SVGFSA regulates a wide range of business models and has officially stated being open to supervising innovative activities. This gives SVG the perk of being very flexible for multiple types of virtual assets services;
- Prestigious offshore center: Saint Vincent and the Grenadines is a long-standing recognized offshore jurisdiction for business. Its favorable taxation regime and experience in regulating financial services companies such as Forex businesses is recognized worldwide, ensuring any business can go to its target market;
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The different types of crypto licenses in Saint Vincent and the Grenadines
There is a single type of license in Saint Vincent and the Grenadines: the Virtual Asset Business registration.
This license permits to conduct the following activities:
- Exchange between a virtual asset and fiat currency;
- Exchange between one or more forms of virtual assets;
- Transfer of a virtual asset whether or not for value;
- Safekeeping or administration of a virtual asset or instruments enabling control over a virtual asset;
- Participating in and provision of financial services related to an issue or sale of a virtual asset.
Other, more complex crypto activities, may be accepted upon special request to the SVGFSA and due explanation of the business model. This is a case per case scenario.
It is worth adding that to conduct a token sale, a licensed SVG company must first produce an information prospectus and have it approved by the FSA. It is not legal to sell a token without having informed and received the green light from the SVGFSA.
Hear it from them: first-person client feedback
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The team of LegalBison was very helpful and fast in supporting my company’s structural set up. They are undoubtedly top-level experts when it comes to licensing and registrations in the crypto and web3 industry. Highly recommend!
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As a result of the fruitful cooperation with LegalBison, Yellow Card obtained a VASP registration, fast and without any legal complications.
LegalBison excels at adapting to challenges and demonstrates a perfect understanding of our business needs.
LegalBison helped us navigate a space that’s often uncertain and complex, which gave us the confidence to move forward with our project.
What are the application requirements for a Crypto License in Saint Vincent and the Grenadines
To successfully receive a cryptocurrency license in Saint Vincent and the Grenadines, companies willing to engage in crypto activities in SVG shall acknowledge two sets of requirements.
The first batch of requirements is relative to the corporate set-up of the crypto company. Only a company registered in Saint Vincent and the Grenadines and fulfilling substance and residency requirements can apply for a crypto license. This implies the following:
- Registration of a LLC or BC (and not an IBC) in Saint Vincent and the Grenadines;
- Registration of a legal address in the jurisdiction;
- Accounting with books kept within SVG and available for consultation.
The second batch of requirements is proper to the crypto regulatory framework, namely the Virtual Asset Businesses. Those are the expectations laid out by the lawmaker to be met by every cryptocurrency businesses in SVG:
- AML/KYC policies and procedures in line with the FATF recommendations (in line with the domestic AML-CFT legislation);
- Risk assessment, systems, matrixes, business plan, etc;
- Appointment of a Money Laundering Compliance Officer;
- Appointment of a Money Laundering Reporting Officer;
- Fitness & property check of the participants.
Naturally the applicant shall be liable to describe its business model in detail to the supervisory authority. To carry on with the application for a license in Saint Vincent and the Grenadines, the crypto company should also disburse an application fee of 4,000 East Caribbean Dollars (about 1,500 USD) followed by a registration fee of 12,000 East Caribbean Dollars (about 4,500 USD).
The applicant shall also pay a deposit of 100,000 East Caribbean Dollars (about 37,000 USD) or 25% of the outstanding financial obligations to their clients to the SVGFSA, that will be given back after ceasing the activity entirely.
| Duration | from 5 months |
| Local office | No (only a local address) |
| Local director | No (but a Principal Representative who is a resident of SVG is required) |
| Accounting and auditing | Financial statements must be audited yearly |
| Economic substance | No |
| Government fee | 4,000 XCD (about 1,500 USD) for application
12,000 XCD (about 4,500 USD) for registration (and annual renewal) |
| Corporate income tax (CIT) | 0% |
| Withholding tax (WHT) | 0% |
The minimum requirements for a crypto license in Saint Vincent and the Grenadines with the 2025 Virtual Asset Business Act are:
- Registration of a Limited Liability Company or Business Company in SVG;
- Registration of a legal address in SVG;
- Appointment of a Principal Representative, who must be a resident of SVG;
- Appointment of a Money Laundering Compliance Officer, which must be approved by the FSA;
- Appointment of a Money Laundering Reporting Officer;
- AML/CFT and KYC policies and procedures in line with law and FATF guidelines;
- Risk assessment documentation for the activity, including a comprehensive operational risk management internal system, data protection policy, etc;
- Fit & proper check of all team members;
- Detailed business plan;
- Appointment of an external auditor for yearly audit of financial statements;
- Bookkeeping and issuance of financial statements within Saint Vincent and the Grenadines;
- Pay the application fee of 4,000 East Caribbean dollars (about 1,500 USD);
- Pay the registration fee of 12,000 East Caribbean Dollars (about 4,500 USD);
- Register the minimum capital requirement of 300,000 East Caribbean Dollars (about 111,000 USD), and pay up at least 50,000 East Caribbean Dollars (about 18,500 USD);
- Permanent deposit of 100,000 East Caribbean Dollars (about 37,000 USD) or an amount equal to twenty-five percent of the financial obligations to clients.
What is the step-by-step licensing application process in SVG?
To obtain a crypto license in Saint Vincent and the Grenadines, it is important to acknowledge the main steps and to have them done in the right order.
The process to crypto authorization in Saint Vincent and the Grenadines is mostly focused on the preparation part, as the requirements for applying alone are more numerous and long to set up than the requirements for the license itself.
FORMING A COMPANY IN SAINT VINCENT AND THE GRENADINES
It is very important to underline that only a Limited Liability Company or a Business Company can apply for a cryptocurrency license in Saint Vincent and the Grenadines. This company form differs from the International Business Company (IBC), which is famously used as an offshore company form.
Registering an LLC or a BC in Saint Vincent and the Grenadines is a standard process that requires providing documents about the beneficial owners and fulfilling a registration form directly to the register of companies in SVG.
- Incorporation of a LLC or a BC (no IBC);
- Registration of a legal address;
- Personal documents of beneficial owners;
- Bookkeeping and financial statements shall be issued and kept in SVG;
- No residency requirements for the shareholders and directors.
FULFILLING THE MANDATORY REQUIREMENTS OF THE SVG FINANCIAL SERVICES AUTHORITY
The licensing process simply requires carrying out a request for a crypto license to the SVGFSA. But to be successful, the application shall be emitted by a legal entity that has been properly set up in Saint Vincent and the Grenadines.
To carry on with the application, the ultimate beneficiaries must demonstrate their fitness and property by fulfilling an official questionnaire, providing due identity documents, a police certificate of non criminal record and a presentation of their professional background.
The project should comply with the AML-CFT laws by drafting policies and procedures, as well as risk assessment policies and matrixes. The project must also demonstrate its understanding and enforcement of the due diligence to be conducted with customers (“Know Your Customer”), which includes measures like collecting originator and beneficiary information for virtual asset transfers (the so-called “Travel Rule”).
Once the offshore company is set up, the project must comply with the FSA rules and the AML/KYC laws of Saint Vincent and the Grenadines to request a license.
- AML/KYC policies and procedures must be drafted and implement;
- Risk assessment of products/services and a comprehensive risk management system (policies and procedures) are required;
- Appointment of a Principal Representative (resident of SVG);
- Appointment of a suitably qualified AML/CFT Compliance Officer, who must be approved by the FSA;
- Appointment of a Money Laundering Compliance Officer (resident of SVG);
- Fit & proper check of the founders’ team members (questionnaire, ID documents, non criminal record, etc).
APPLICATION FOR A VIRTUAL ASSET BUSINESS LICENSE IN SVG
Finally, the application is carried out to the SVGFSA with the payment of the application fee and the mandatory deposit, that will be retained for all the duration of the crypto activity. The SVGFSA will then analyze the application. The regulatory body may eventually give feedback and ask to conduct interviews of the team members, before granting the SVG cryptocurrency license.
When all the requirements are OK, the crypto project can send its application for a crypto license to the SVGFSA in order to start its crypto business. The granting of the license will also allow the cryptocurrency company to open a corporate bank account.
- Application fee must be paid (4,000 East Caribbean Dollars);
- A permanent deposit of 100,000 East Caribbean Dollars or an amount equal to twenty-five percent of the financial obligations to clients (whichever is the highest);
- Detailed business plan;
- Detailed description of the AML/KYC systems or processes;
- Interviews conducted by the SVGFSA.
Costs and fees for a Saint Vincent and Grenadines Crypto License
There are three governmental fees to be aware of in regard to a SVG crypto company.
These are the primary fees associated with obtaining and maintaining the crypto license:
- Application Fee of 4,000 East Caribbean Dollars (XCD, about 1,500 USD), a one-time, non-refundable fee;
- Registration Fee of 12,000 XCD (about 4,500 USD) paid once the application is approved;
- Annual Renewal Fee of 12,000 XCD (about 4,500 USD) due by January 31st of each subsequent year).
Taxation for cryptocurrency companies in Saint Vincent and the Grenadines
LLCs and IBCs in Saint Vincent and the Grenadines are explicitly exempt from all corporate, income, and withholding taxes. These tax benefits equally apply to virtual assets services providers with an SVG cryptocurrency license.
Capital gains are not taxed in Saint Vincent and the Grenadines, including on cryptocurrency trading.
Compliance and maintenance requirements after securing a crypto license in SVG
Once the crypto project has established a company in Saint Vincent and the Grenadines and successfully secured the SVG crypto license, it is liable to respect a certain number of obligations. These obligations are set in the laws that compose the regulatory framework in Saint Vincent and the Grenadines: the Virtual Asset Business Act of 2025 and the numerous laws pertaining to Anti Money Laundering and Countering the Financing ot Terrorism. The SVG AML/CFT framework is aligned with the Recommendations of the Financial Action Task Force (FATF).
Compliance with these laws imply constant and correct communication to the regulatory authorities and to the public. This means having systems and procedures in place to ensure:
- Data protection systems for clients’ information;
- The protection of clients’ money and assets;
- Compliance at all times with the AML/KYC legislation.
Duties pertaining to AML-CFT and KYC shall be fulfilled by the mandatory Money Laundering Compliance Officer (MLCO) and Money Laundering Reporting Officer (MLRO). These individuals shall be approved by the SVGFSA beforehand. One individual can assume both roles. Their duty is to report any suspicious activity to the regulator. They are also liable to issue quarterly reports including the number and value of accounts served by the company.
On the corporate level, the company is required to practice adequate accounting practices, keeping records and financial statements available at all time in the company premises of Saint Vincent and the Grenadines. The FSA expects to have full access to the office and to the financial documents pertaining to the business activity of the company.
Every year, a crypto licensed company in SVG shall appoint an external auditor (a certified public accountant, a member of the Institute of Chartered Accountants of the Eastern Caribbean, or some other professionally qualified accountant satisfactory to the Authority) to conduct an audit of the operations.
ICOs and token sales (more broadly, participating in or providing financial services related to an issuer’s offer or sale of a virtual asset) are only permitted if a prospectus is submitted to, and a statement of no objection is received from, the FSA beforehand.
Finally, a crypto licensed company in SVG must pay the fee for registration of 12,000 East Caribbean Dollar every year (approximately 4.500 USD).
Common misconceptions about the SVG crypto companies
No, cryptocurrency activities are not unregulated anymore in Saint Vincent and the Grenadines. There is a full fledged cryptocurrency regulation in force, that oversees all activities relative to digital assets. Existing companies dealing with crypto in SVG had until June of 2025 to comply with the local laws after their operational launch.
No, crypto companies in SVG are not liable to pay the same taxes as a local company. A local entity doing business within Saint Vincent and the Grenadines responds to a different tax regime than VASPs.
No, existing companies are not void of the necessity to get a license. They are not allowed to operate without complying to local laws anymore. International Business Companies also need to re-register, as IBCs are excluded from the scope of the regulations.
No, a physical office is not required to get a crypto license in SVG. Unlike local companies doing business inside of Saint Vincent, VASPs aren’t considered local entities with such requirements.
What are the texts composing the legal framework of the Saint Vincent crypto license
The cryptocurrency regulation in Saint Vincent and the Grenadines is set in the amended Virtual Asset Business Act of 2022 for the major part. Enforced in May 2025 in the House of Assembly of SVG, this Act defines in straightforward terms what is a virtual asset business and what are the requirements to register as one.
Among other things, the Act requires crypto projects to comply with the AML-CFT legislation of Saint Vincent and the Grenadines. The AML-CFT framework of SVG may seem a bit tricky at first because it is composed of a set of texts and amendments, among which:
- Anti-Money Laundering and Terrorist Financing Regulations of 2014;
- Anti-Money Laundering and Terrorist Financing (Amendment) Regulations of 2017;
- Anti-Money Laundering and Terrorist Financing Code of 2017;
- Anti Terrorist Financing and Proliferation Amendment Act of 2017;
- Anti-Money Laundering and Terrorist Financing (Non Regulated Service Providers Regulations) 2022.
Note: the 2025 regulations is built upon the draft Virtual Asset Act of 2022.
These laws actually represent the gradual enforcement of the FATF guidelines and suggestions. They are to be seen as a bundle of rules building on each other, and are anyway best summed up in the AML-CFT Risk Assessment Guidelines issued by the SVGFSA in January 2023.
Costs and fees for a Saint Vincent and Grenadines Crypto License
There are three governmental fees to be aware of in regard to a SVG crypto company.
These are the primary fees associated with obtaining and maintaining the crypto license:
- Application Fee of 4,000 East Caribbean Dollars (XCD, about 1,500 USD), a one-time, non-refundable fee;
- Registration Fee of 12,000 XCD (about 4,500 USD) paid once the application is approved;
- Annual Renewal Fee of 12,000 XCD (about 4,500 USD) due by January 31st of each subsequent year).
Taxation for cryptocurrency companies in Saint Vincent and the Grenadines
LLCs and IBCs in Saint Vincent and the Grenadines are explicitly exempt from all corporate, income, and withholding taxes. These tax benefits equally apply to virtual assets services providers with an SVG cryptocurrency license.
Capital gains are not taxed in Saint Vincent and the Grenadines, including on cryptocurrency trading.
Compliance and maintenance requirements after securing a crypto license in SVG
Once the crypto project has established a company in Saint Vincent and the Grenadines and successfully secured the SVG crypto license, it is liable to respect a certain number of obligations. These obligations are set in the laws that compose the regulatory framework in Saint Vincent and the Grenadines: the Virtual Asset Business Act of 2025 and the numerous laws pertaining to Anti Money Laundering and Countering the Financing ot Terrorism. The SVG AML/CFT framework is aligned with the Recommendations of the Financial Action Task Force (FATF).
Compliance with these laws imply constant and correct communication to the regulatory authorities and to the public. This means having systems and procedures in place to ensure:
- Data protection systems for clients’ information;
- The protection of clients’ money and assets;
- Compliance at all times with the AML/KYC legislation.
Duties pertaining to AML-CFT and KYC shall be fulfilled by the mandatory Money Laundering Compliance Officer (MLCO) and Money Laundering Reporting Officer (MLRO). These individuals shall be approved by the SVGFSA beforehand. One individual can assume both roles. Their duty is to report any suspicious activity to the regulator. They are also liable to issue quarterly reports including the number and value of accounts served by the company.
On the corporate level, the company is required to practice adequate accounting practices, keeping records and financial statements available at all time in the company premises of Saint Vincent and the Grenadines. The FSA expects to have full access to the office and to the financial documents pertaining to the business activity of the company.
Every year, a crypto licensed company in SVG shall appoint an external auditor (a certified public accountant, a member of the Institute of Chartered Accountants of the Eastern Caribbean, or some other professionally qualified accountant satisfactory to the Authority) to conduct an audit of the operations.
ICOs and token sales (more broadly, participating in or providing financial services related to an issuer’s offer or sale of a virtual asset) are only permitted if a prospectus is submitted to, and a statement of no objection is received from, the FSA beforehand.
Finally, a crypto licensed company in SVG must pay the fee for registration of 12,000 East Caribbean Dollar every year (approximately 4.500 USD).
Common misconceptions about the SVG crypto companies
No, cryptocurrency activities are not unregulated anymore in Saint Vincent and the Grenadines. There is a full fledged cryptocurrency regulation in force, that oversees all activities relative to digital assets. Existing companies dealing with crypto in SVG had until June of 2025 to comply with the local laws after their operational launch.
No, crypto companies in SVG are not liable to pay the same taxes as a local company. A local entity doing business within Saint Vincent and the Grenadines responds to a different tax regime than VASPs.
No, existing companies are not void of the necessity to get a license. They are not allowed to operate without complying to local laws anymore. International Business Companies also need to re-register, as IBCs are excluded from the scope of the regulations.
No, a physical office is not required to get a crypto license in SVG. Unlike local companies doing business inside of Saint Vincent, VASPs aren’t considered local entities with such requirements.
What are the texts composing the legal framework of the Saint Vincent crypto license
The cryptocurrency regulation in Saint Vincent and the Grenadines is set in the amended Virtual Asset Business Act of 2022 for the major part. Enforced in May 2025 in the House of Assembly of SVG, this Act defines in straightforward terms what is a virtual asset business and what are the requirements to register as one.
Among other things, the Act requires crypto projects to comply with the AML-CFT legislation of Saint Vincent and the Grenadines. The AML-CFT framework of SVG may seem a bit tricky at first because it is composed of a set of texts and amendments, among which:
- Anti-Money Laundering and Terrorist Financing Regulations of 2014;
- Anti-Money Laundering and Terrorist Financing (Amendment) Regulations of 2017;
- Anti-Money Laundering and Terrorist Financing Code of 2017;
- Anti Terrorist Financing and Proliferation Amendment Act of 2017;
- Anti-Money Laundering and Terrorist Financing (Non Regulated Service Providers Regulations) 2022.
Note: the 2025 regulations is built upon the draft Virtual Asset Act of 2022.
These laws actually represent the gradual enforcement of the FATF guidelines and suggestions. They are to be seen as a bundle of rules building on each other, and are anyway best summed up in the AML-CFT Risk Assessment Guidelines issued by the SVGFSA in January 2023.
FAQ – SVG Cryptocurrency License
Only Limited Liability Companies and Business Companies registered in Saint Vincent and the Grenadines, who have received the SVG crypto license, can perform crypto activities.
Yes! We are able to design a business plan for any kind of business venture. We have experience dealing the granting authority and we know their expectations from applicants
No. All the process of registration, operation and reporting to the authorities can be conducted 100% remotely, including the licensing process for cryptocurrency companies.
Cryptocurrency companies operating from SVG are not liable to any form of taxation. Offshore local companies enjoy tax benefits, the SVG government having set an attractive tax regime and regulatory clarity to successfully attract virtual asset activities and incentivize licenses issuance in the country.
Yes, cryptocurrency activity is legal in Saint Vincent and the Grenadines. Until 2022, crypto business was unregulated in SVG, but the Virtual Asset Business Act that was passed in 2022 and enforced in 2025 has introduced the obligation to apply for a crypto license. LegalBison can assist you to ensure compliance and support you in the application process.
In Saint Vincent and the Grenadines, breaching the regulation laid out in the Virtual Asset Business Act is considered an offense. Among other things, it is strongly prohibited to do the following:
- Make a false/misleading declaration or omit to disclose material for the purpose of gaining/retaining customers;
- Declaring false information during the application process for the crypto license in SVG;
- Disrespecting the ongoing compliance requirements to prevent money laundering and counter terrorist financing;
- Operating before getting the crypto license, or operating without a license at all.
The individuals responsible for the offense can be liable to a fine of 10,000 ECD and 2 years of imprisonment.
Though a registry of SVG companies can be found on the SVGFSA website, it does not indicate the business activity of these companies. Therefore, we cannot speak of a virtual cryptocurrency registry in Saint Vincent and the Grenadines, as the registrar does not permit to list companies engaged in cryptocurrency activities. A Saint Vincent and the Grenadines company formation will add a company into the register, no matter which activity it performs.
The registry only lists companies by name, with their registration number, date and type of legal entity (International Business Company or Limited Liability Company). Due to the substance and residency requirements of the SVG crypto license, only Limited Liability Companies (LLC) and Business Companies (BC) can apply for registration as a virtual asset business.
The government of Saint Vincent and the Grenadines, a Caribbean state that is part of the Commonwealth, has not issued statements on crypto. Traditionally a liberal country and a so-called offshore jurisdiction, SVG was not regulating crypto activities until the enforcement of the Virtual Asset Business Act in 2025.
The regulatory authorities responsible for supervising and regulating the sphere of crypto in SVG, the Financial Services Authority (FSA) and Financial Intelligence Unit (FIU) have also been little talkative, as their communication is mainly aimed at companies and partners.
The issuance of a crypto law and the creation of a crypto framework can be seen as a statement by itself: a bet by the country of Saint Vincent and the Grenadines on crypto, as well as a desire to become a trustful jurisdiction with high compliance requirements.
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Legal experts in designing solutions for crypto licensing worldwide.
Certified ACAMS consultant with 5+ years experience in compliance and FinTech regulations.