Detailed overview
Seychelles at a glance
Seychelles is a multi-regulator jurisdiction. The Financial Services Authority (FSA) is the regulator for crypto under the Virtual Asset Service Providers Act 2024, for securities and investment advice under the Securities Act (as amended in 2024), and for casinos, slot machines and interactive gambling under the Seychelles Gambling Act 2014. The Central Bank of Seychelles licenses banks under the Financial Institutions Act 2004. Seychelles exited the FATF grey list in 2024.
Last verified: May 2026.
Use Seychelles for FSA-licensed VASPs, Securities Dealers and gambling operators, and for Central Bank offshore banking. Pick the category before filing.
Is there a crypto licence in Seychelles?
Yes. The Virtual Asset Service Providers Act 2024 is in force from 1 September 2024, with the FSA as sole regulator.
The Virtual Asset Service Providers Act 2024 (the VASP Act) was enacted on 30 August 2024 and came into force on 1 September 2024. The Act covers any person carrying on, or purporting to carry on, virtual asset services in or from Seychelles, and any person issuing initial coin offerings (ICOs) or non-fungible tokens (NFTs) where the asset can be traded on a public blockchain or exchange. The Financial Services Authority is the sole regulator.
Only domestic companies and International Business Companies (IBCs) are eligible to apply. Individuals are expressly ineligible. Licensing is required by the mere fact that the entity is registered or incorporated in Seychelles, regardless of where the virtual asset services are actually carried on. The Act expressly prohibits the operation of mining facilities, mixers and tumblers.
Persons providing virtual asset services before the Act came into force had to submit a complete application to the FSA by 31 December 2024 to continue operating. Operating after 31 December 2024 without a licence or registration is a breach of the Act and grounds for enforcement action, including IBC strike-off.
VASP Licence (FSA)
Best for exchanges, custody platforms, broking businesses and crypto investment providers.
What it is: Perpetual FSA licence under the VASP Act 2024 authorising one or more of the four permissible activity categories: Virtual Asset Wallet Provider, Virtual Asset Exchange, Virtual Asset Broking and Virtual Asset Investment Provider.
Who it suits: Exchanges, custodians, brokers and crypto investment platforms ready to incorporate a Seychelles entity, build local substance and operate to FATF Travel Rule standards.
Covers: Permissible activities under the First Schedule of the VASP Act. A single VASP licence can cover multiple activity categories; each adds its own annual fee on top of the base fee.
Operational requirement: Licensee must be a domestic company or International Business Company. At least one resident director required (physically in Seychelles 183 or more days per any 12-month period). A fully manned office in Seychelles with adequate qualified staff. Minimum two board meetings and four management meetings per year in Seychelles. Records kept for at least 7 years (30 years for AML/CFT records). Mandatory professional indemnity insurance. Outsourcing of the AML/CFT compliance function is not permitted; the compliance officer must be employed full-time. Capital must be held in a bank licensed under the Financial Institutions Act 2004 or in a financial institution meeting at minimum the Basel II standard; alternative money solutions are not acceptable.
Headline figures
- Application fee (licence): SCR 75,000 (about USD 5,000)
- Application fee (registration of ICO or NFT): SCR 22,500 (about USD 1,500)
- Annual base licence fee: SCR 75,000 (about USD 5,000)
- Annual activity fee, Virtual Asset Wallet Provider: SCR 300,000 (about USD 20,000)
- Annual activity fee, Virtual Asset Exchange: SCR 375,000 (about USD 25,000)
- Annual activity fee, Virtual Asset Broking: SCR 150,000 (about USD 10,000)
- Annual activity fee, Virtual Asset Investment Provider: SCR 75,000 (about USD 5,000)
- Paid-up capital: as prescribed in Schedule 1 of the VASP (Capital Adequacy and other Financial Requirements) Regulations 2024
- Licence term: perpetual unless suspended, revoked or surrendered (annual renewal fee plus compliance form by 1 January each year)
- Pro-rating: licences granted outside January to March are pro-rated by quarter
- Mandatory threshold report: all virtual asset transfers of SCR 50,000 or more reported to the FIU by midnight Seychelles time the same business day
ICO and NFT Registration (FSA)
Best for token issuers and NFT projects with public-blockchain exposure.
What it is: Registration under the VASP Act 2024 of any ICO or NFT offering promoted or issued in or from Seychelles, where the token can be purchased, traded or exchanged on a public blockchain or on an exchange. Closed-loop in-game currency without real-world applicability is out of scope.
Who it suits: Token issuers, NFT projects, and any business promoting digital tokens to investors from a Seychelles entity. Promoters must themselves be licensed VASPs or entities licensed under the Securities Act 2007.
Covers: Single offering registration. An offering cannot exceed 12 months but may be extended by up to 6 months. New registration required for each new offering and after the 18-month combined period elapses.
Operational requirement: White paper preparation and FSA submission before any promotion. NFTs issued as collector's items are still subject to registration; the white paper must state the collector-item purpose.
Headline figures
- Application fee: SCR 22,500 (about USD 1,500)
- Maximum offering period: 12 months, extendable by 6 months
Is there a financial services licence in Seychelles?
Yes. The FSA licenses non-bank financial services (Securities Dealers, Investment Advisors, Insurance, Fund Administration, Fund Management, Fiduciary), and the Central Bank of Seychelles licenses banking under the Financial Institutions Act 2004.
The Securities Act (Cap 208), updated by the Securities (Amendment) Act 2024 (passed 27 November 2024, in force 1 January 2025), is the main statute for capital-markets activity. Banking is governed by the Financial Institutions Act 2004 and the Financial Institutions (Capital Adequacy) Regulations 2010.
Securities Dealer Licence (FSA)
Best for forex brokers, CFD brokers and multi-asset dealers wanting crypto CFD authorisation.
What it is: FSA licence under the Securities Act authorising the holder to deal in securities. The definition of securities under Seychelles law includes shares, debt instruments, futures, options, contracts for differences (CFDs), swaps, commodities, currencies and cryptocurrency.
Who it suits: Forex and CFD brokers, multi-asset trading firms, and operators wanting a single licence covering forex, equities, CFDs, derivatives and crypto CFDs. FSA Circular No. 3 of 2025 confirmed that crypto CFDs are permissible under the Securities Act without a separate VASP licence, on the basis that no underlying virtual asset is held or transferred.
Covers: Dealing in securities as defined in the Act. Crypto CFDs included by FSA Circular No. 3 of 2025 (with mandatory suitability assessment for retail clients and prominent risk disclosures).
Operational requirement: From 1 January 2025, minimum two full-time fit and proper persons resident in Seychelles (directors, compliance officers or management). The FSA may impose higher capital based on risk profile. Existing licensees have until 30 June 2026 to comply with the 2024 amendments. Annual renewal fee and signed compliance certificate by 31 January each year. Licences are now perpetual (replacing the previous annual renewal cycle from January 2025).
Headline figures
- Minimum issued and paid-up capital: USD 100,000 (increased from USD 50,000 under the 2024 amendment)
- Annual licence fee: USD 6,000
- Securities Dealer Representative annual fee: USD 750
- Change of key position or significant role: prior FSA approval required, USD 500 fee, USD 5,000 per day penalty for non-compliance
- Capital must be held in: a Financial Institutions Act 2004-licensed bank or FSA-approved equivalent
Investment Advisor Licence (FSA)
Best for stand-alone advisory firms.
What it is: FSA licence under the Securities Act for the provision of investment advice.
Who it suits: Advisory businesses without dealing or principal-trading models. Available to both individuals and legal entities (fees vary).
Covers: Advisory services within the scope of the Securities Act.
Operational requirement: Same fit-and-proper and resident-personnel framework as Securities Dealer licensees under the 2024 amendments.
Headline figures
- Minimum issued and paid-up capital: USD 25,000
Offshore Banking Licence (Central Bank of Seychelles)
Best for non-resident-focused banks with USD 2 million in real capital.
What it is: Licence under the Financial Institutions Act 2004 to conduct offshore banking business, that is, banking business conducted exclusively with non-residents in currencies other than the Seychelles Rupee.
Who it suits: Established banking groups able to demonstrate a track record of growth and profitability of at least 5 years and willing to operate as a fully staffed bank in Seychelles (no shell structures).
Covers: Deposit-taking, lending, factoring, forfeiting, trade finance, and credit card issuance, exclusively for non-residents.
Operational requirement: Licence issued for an indefinite period, not transferable, sets out activities permitted and conditions. Real presence in Seychelles required. Capital adequacy ratio at least 12 per cent of risk-weighted assets (Core Capital Ratio at least 6 per cent). Reserve fund: at least 20 per cent of annual net profit transferred until the reserve fund equals paid-up capital. Capital changes require prior Central Bank approval.
Headline figures
- Minimum paid-up capital: USD 2 million (or equivalent in any freely convertible currency)
- Capital Adequacy Ratio: at least 12 per cent
- Core Capital Ratio: at least 6 per cent
- Tax position: offshore banking income exempt from corporate tax, withholding tax on dividends and interest, and customs duty on essential equipment
Domestic Banking Licence (Central Bank of Seychelles)
Best for retail and commercial banks operating in the Seychelles Rupee.
What it is: Licence under the Financial Institutions Act 2004 to conduct domestic banking business in Seychelles.
Who it suits: Banks intending to take Seychelles Rupee deposits and serve Seychelles residents.
Covers: Full domestic banking activities including deposit-taking, lending and payment services for resident clients.
Operational requirement: Monthly capital adequacy reporting to the Central Bank (Tier 1, Tier 2, capital base, risk-adjusted assets and capital ratios) within 15 days of month-end.
Headline figures
- Minimum unimpaired paid-up or assigned capital: SCR 20 million (about USD 1.34 million)
- Capital Adequacy Ratio: at least 12 per cent
- Core Capital Ratio: at least 6 per cent
Is there a gambling licence in Seychelles?
Yes, but with practical caveats. The FSA issues three licence types under the Seychelles Gambling Act 2014; interactive gambling is rarely active in practice.
The Seychelles Gambling Act 2014 is the primary statute. The FSA regulates three licence types: casino, slot machine and interactive gambling. Sports betting is not within the scope of the interactive gambling licence. The FSA has publicly noted that there are no active interactive gambling licensees, and any online gambling accessed from Seychelles via foreign sites is not FSA-regulated. The Cabinet of Ministers approved a new framework in November 2023 to clarify categories, fees and conditions specifically for interactive gambling under the FSA.
Casino Licence (FSA)
Best for land-based casino operators.
What it is: FSA licence under the Seychelles Gambling Act 2014 authorising a casino. The casino licence is broader than the slot machine licence: it permits both casino table games (poker, blackjack, roulette and similar) and slot machines.
Who it suits: Land-based casino operators integrated with hotels or tourism complexes in Seychelles.
Covers: Casino table games and slot machines. Annual fee depends on the extent of games and slot machines deployed; separate fees apply per employee appointment.
Operational requirement: AML/CFT compliance under the AML/CFT Act 2020 (gambling operators are reporting entities).
Slot Machine Licence (FSA)
Best for slot-only land-based operations.
What it is: FSA licence under the Seychelles Gambling Act 2014 authorising operation of slot machines only (no table games).
Who it suits: Operators of stand-alone slot venues.
Covers: Slot machines installed at the licensee's premises; the annual fee depends on the number of machines installed.
Interactive Gambling Licence (FSA)
Best for online casino operators considering a Seychelles authorisation, but note no active licensees exist.
What it is: FSA licence under the Seychelles Gambling Act 2014 for gambling conducted via computer or telecommunication devices.
Who it suits: Online gambling operators seeking a Seychelles licence. In practice, no interactive gambling licences are currently active under the 2014 framework.
Covers: Online casino-style activities including online slots and online table games. Sports betting is expressly excluded. Activities of slot machines and casino licences can also be offered through telecommunication devices under this licence.
Operational requirement: Subject to the new framework approved by Cabinet in November 2023, which clarifies categories, fees and conditions for interactive gambling under the FSA. Operators must comply with the AML/CFT Act 2020.
Costs and timelines at a glance
- VASP application fee: SCR 75,000 (about USD 5,000)
- VASP ICO or NFT registration fee: SCR 22,500 (about USD 1,500)
- VASP annual base fee: SCR 75,000 (about USD 5,000)
- VASP annual activity fee, Exchange: SCR 375,000 (about USD 25,000) (highest)
- VASP annual activity fee, Investment Provider: SCR 75,000 (about USD 5,000) (lowest)
- VASP licence term: perpetual, annual compliance form plus renewal fee due by 1 January
- VASP record-keeping: 7 years general; 30 years for AML/CFT records (digital)
- VASP threshold reporting: SCR 50,000 daily by midnight Seychelles time
- Securities Dealer minimum capital: USD 100,000
- Securities Dealer annual fee: USD 6,000
- Investment Advisor minimum capital: USD 25,000
- Offshore bank minimum capital: USD 2 million
- Bank Capital Adequacy Ratio floor: 12 per cent
- Domestic bank minimum capital: SCR 20 million (about USD 1.34 million)
- FSA Securities resident-personnel rule: at least two fit and proper persons resident in Seychelles
- VASP resident-director rule: 183 or more days in Seychelles per any 12-month period
Who Seychelles suits and who it does not
Suitable for
- Crypto exchanges, wallet providers, brokers and investment platforms ready to commit a Seychelles IBC or domestic company with full local substance
- Forex and CFD brokers, including crypto CFD operators, that can fund USD 100,000 capital and place two resident personnel in Seychelles
- Token issuers and NFT projects ready to publish a regulator-grade white paper and operate through licensed promoters
- Established banking groups with USD 2 million or more in paid-up capital and a real banking track record
- Land-based casino and slot operators integrated with tourism projects
Not suitable for
- Operators wanting to run mining facilities, mixers or tumblers (categorically prohibited under the VASP Act)
- Crypto operators looking to use Seychelles as a shell jurisdiction with no resident director, office or staff
- Online sports betting operators (the interactive gambling licence does not cover sports betting)
- VASPs intending to use payment service providers or alternative money solutions in place of bank accounts (excluded by the VASP capital rules)
- VASPs planning to apply simplified due diligence (not permitted under any circumstances)
- Operators seeking EU MiCA passporting rights (the FSA licence does not authorise servicing EU-resident clients under MiCA)