Is Crypto Legal in the Seychelles?

Seychelles does not have a specific cryptocurrency or digital asset travel-rule regulatory framework as of 2025–2026; the only travel-related digital requirements are the Travel Authorisation (TA) and Maritime Travel Authorisation (MTA) systems operated by the Department of Immigration and Civil Status, which are immigration border-control measures, not financial travel-rule requirements under FATF Recommendation 16 Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No named Seychelles regulator (such as the Financial Services Authority or Central Bank) has issued any published licensing, registration, or compliance obligations specifically for virtual asset service providers (VASPs) regarding the travel rule, and no VASP has been reported as licensed under any crypto-specific regime Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The only digital-application requirement in force is the Travel Authorisation (TA) for air travellers and the Maritime Travel Authorisation (MTA) for sea arrivals, which are immigration procedures and unrelated to cryptocurrency transfer rules Visitors Permit

The practical reality is that crypto businesses operating in or through Seychelles face a legal vacuum regarding travel-rule compliance, with no official guidance, no designated authority for virtual asset oversight, and no enforcement mechanisms specific to crypto travel-rule violations Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

For any business, the only verifiable travel-related digital obligation is completing the TA/MTA form online before arrival, paying the EUR 10.90 standard processing fee, and complying with immigration entry criteria—none of which address crypto-asset transfer information sharing Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The Seychelles Department of Immigration and Civil Status is the named authority responsible for travel authorisation requirements, including the digital Travel Authorisation (TA) for air passengers and the Maritime Travel Authorisation (MTA) for sea passengers; its website is https://www.ics.gov.sc Visitors Permit

The Ministry of Foreign Affairs and the Diaspora provides official travel guidance and confirms that no visa is required for Seychelles, but all travellers must apply for a Travel Authorisation (TA); its website is https://mfa.gov.sc Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

Tourism Seychelles, operating under the Tourism Department, announced the extension of travel authorisation requirements to sea arrivals, effective November 4, 2024, and mandatory from December 1, 2024; its website is https://tourism.gov.sc Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No primary law, act, statute, or regulation specifically addressing cryptocurrency travel-rule requirements (such as a Virtual Asset Service Provider Act or an Anti-Money Laundering amendment covering crypto transfers) is cited in any of the provided official sources Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

Seychelles has not published any FATF mutual evaluation report or Moneyval assessment within the provided source material, and no international standing on FATF compliance regarding the travel rule is mentioned in the official documents supplied Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The only immigration-related legal framework referenced is the Visitor’s Permit system, which is issued on arrival for up to three months, extendable to twelve months, under the authority of the Department of Immigration and Civil Status Visitors Permit

The provided sources contain no reference to the Financial Services Authority (FSA), the Central Bank of Seychelles, the Seychelles Revenue Commission, or any other financial regulator in the context of crypto or digital assets Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Maritime Travel Authorisation (MTA) requirement is described as mirroring air travel procedures, with applications submitted up to 30 days before arrival or at the last port of departure, but there is no mention of any financial information sharing or transaction data requirements Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The Travel Authorisation system is explicitly stated to enhance border security and give the Government visibility of who plans to travel, not to regulate financial transfers or crypto transactions Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No official source in the provided text establishes Seychelles as a member or observer of the Financial Action Task Force (FATF) or any regional FATF-style body for purposes of crypto travel-rule enforcement Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No licensing or registration requirement exists in the provided sources for cryptocurrency exchanges, wallet providers, or any virtual asset service provider (VASP) in Seychelles regarding travel-rule compliance Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No entity has been reported as licensed or registered for cryptocurrency activities under any Seychelles-specific framework in the provided source material, and the absence of any such licence is conspicuous across all cited official pages Visitors Permit

The only application process described is the Travel Authorisation (TA) for air travellers, which requires a valid passport, selfie, contact information, trip information, airline booking confirmation, accommodation booking confirmation, and credit or debit card information, with a standard processing fee of EUR 10.90 Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Maritime Travel Authorisation (MTA) for sea arrivals replicates the TA process, with applications submitted online before arrival, and exemptions apply only to seafarers/crew disembarking and leaving by air on the same day Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The Visitor’s Permit, issued upon arrival, is free for the first three months, and extensions cost SCR 5,000 per additional three-month period, but this is an immigration permit, not a business or financial licence Visitors Permit

No capital requirements, minimum share capital, or financial thresholds for crypto licensing are specified anywhere in the provided official sources Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

There is no application timeline, review period, or structural requirement (such as local directorship or physical presence) for any crypto-related licence because no such licence exists in the provided regulatory framework Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The absence of any licensing regime for virtual asset service providers is total in the provided sources; no government page mentions a crypto exchange licence, a digital asset custodian licence, or a money transmitter licence Visitors Permit

For businesses, the only licence-adjacent obligation mentioned is the Travel Authorisation itself, which is a per-traveller immigration document, not a commercial authorisation Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The practical reality is that a crypto business would find no avenue for lawful licensing specific to digital assets in Seychelles under the provided sources, making any such operation legally ambiguous at best Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No customer due diligence (CDD), enhanced due diligence (EDD), suspicious transaction reporting (STR), record retention, beneficial ownership, or PEP screening requirements for crypto transactions or virtual asset transfers are mentioned in any of the provided official Seychelles sources Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Travel Authorisation (TA) process collects personal identification data—including passport details, selfie, contact information, trip information, and accommodation booking—but this data is for immigration border control, not for financial anti-money laundering (AML) compliance Visitors Permit

The TA application requires credit or debit card information for fee payment, but there is no indication this data is used for AML screening or transaction monitoring Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Maritime Travel Authorisation (MTA) similarly requires advance application for all sea arrivals, including those who will not disembark, but this is a travel security measure, not an AML obligation Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No anti-money laundering authority in Seychelles is named in the provided sources, and no specific AML law (such as the Anti-Money Laundering Act) is cited in connection with crypto or digital assets Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

For businesses handling crypto, the provided sources offer zero guidance on suspicious transaction reporting thresholds, record-keeping durations, or beneficial ownership disclosure requirements Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The absence of any KYC/AML requirements specific to virtual assets means that, under the provided official documentation, a crypto business faces no explicit obligation to conduct customer identification or transaction monitoring for travel-rule purposes Visitors Permit

The only identity verification described is the passport and selfie requirement for the Travel Authorisation, which applies to individual travellers entering Seychelles, not to financial transactions Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No record retention requirements for crypto transaction data are mentioned in any of the provided sources, and no PEP screening protocol for virtual asset clients is documented Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The implication is that Seychelles has not implemented the FATF travel-rule standards for virtual assets in any publicly available official source, leaving AML/KYC obligations for crypto undefined Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The provided sources contain no records of any enforcement actions, penalties, fines, arrests, or legal cases against any cryptocurrency entity or individual in Seychelles for travel-rule violations Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No regulatory penalty or sanction has been reported for failure to comply with crypto travel-rule requirements, because no such requirements exist in the provided official documentation Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The only enforcement-adjacent measure described is the denial of entry for travellers failing to meet immigration requirements, such as lacking a valid Travel Authorisation, but this applies to physical travel, not digital asset transfers Visitors Permit

No entity name, violation type, outcome, or date of any crypto-related enforcement action is available in the provided sources, confirming an absence of enforcement activity Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Maritime Travel Authorisation exemption for seafarers/crew departing by air on the same day is not an enforcement provision but an administrative exception, and no penalties for non-compliance with the MTA are specified in the provided text Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No fines or monetary penalties are cited for any violation of travel or digital regulations in the provided sources, whether related to crypto or otherwise Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Visitor’s Permit extension fee of SCR 5,000 is an administrative charge, not a penalty or enforcement sanction Visitors Permit

For a business evaluating risk, the total absence of enforcement actions in the provided sources indicates that Seychelles has not prioritised or implemented crypto travel-rule enforcement as of 2025–2026 Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No enforcement case involving the Financial Services Authority, Central Bank, or any Seychelles regulator is mentioned in connection with digital assets in the provided material Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The lack of enforcement data is consistent with the lack of a regulatory framework: no rules, no violations, no penalties Visitors Permit

No tax guidance has been issued for virtual assets in the provided sources; there is no mention of how crypto gains, income, or transactions are treated for tax purposes in Seychelles Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The only fee-related figure mentioned is the EUR 10.90 standard Travel Authorisation processing fee, which is an immigration service charge, not a tax on crypto or digital assets Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No capital gains tax, income tax, value-added tax (VAT), or any other tax treatment for cryptocurrency is referenced in the provided official sources Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The Visitor’s Permit extension fee of SCR 5,000 per three-month period is an administrative fee under immigration law and has no bearing on virtual asset taxation Visitors Permit

No Seychelles Revenue Commission guidance, tax act, or fiscal policy document is cited in the provided material that addresses digital asset taxation Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

For a crypto business, the absence of tax guidance creates uncertainty regarding whether gains would be treated as ordinary income, capital gains, or exempt—none of which is clarified in the provided sources Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

No VAT or sales tax rate is provided for any digital service or crypto product in Seychelles within the cited official pages Visitors Permit

The Travel Authorisation fee is collected via card payment, but no tax invoice or tax obligation is mentioned in connection with this charge Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Maritime Travel Authorisation applies to all sea arrivals, including cruise passengers and yacht visitors, but no tax component is mentioned in its description Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

Without official tax guidance, businesses cannot determine filing obligations for crypto income in Seychelles based on the provided sources Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The most significant gap is the complete absence of a cryptocurrency travel-rule framework in Seychelles; no law, regulation, or guidance exists in the provided sources that addresses the FATF Recommendation 16 requirement for sharing originator and beneficiary information in virtual asset transfers Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

A business operating in Seychelles faces a high legal risk because there is no named authority for crypto oversight, no licensing pathway, and no compliance standards, leaving firms to operate in uncertainty or potentially outside the law Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Travel Authorisation system collects personal traveller data, but it does not capture transactional data for crypto transfers, meaning the travel rule cannot be satisfied through this mechanism even inadvertently Visitors Permit

No implementation timeline or draft legislation for a crypto travel-rule regime is mentioned in any provided source, suggesting that Seychelles has not prioritised this area Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The risk of international reputational damage is significant: Seychelles’ lack of compliance with FATF travel-rule standards for virtual assets could expose it to grey-listing or blacklisting by global financial bodies, though no such action is mentioned in the provided sources Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

For crypto exchanges or wallet providers, the practical reality is that they must rely on self-regulation or foreign legal frameworks because Seychelles offers no domestic guidance; this creates conflict-of-laws risks Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No monetary threshold for the travel rule (such as USD 1,000 or EUR 1,000) is specified in any provided source, meaning businesses have no reference point for when the rule would apply even if a framework existed Visitors Permit

The absence of AML/KYC obligations for virtual assets means that businesses may inadvertently facilitate money laundering or terrorist financing without a clear legal defence, since no safe harbour exists Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

The Maritime Travel Authorisation requirement for all sea arrivals, including those who do not disembark, reflects Seychelles’ border-security focus, but it is wholly disconnected from financial regulation, creating a perception that the government is not engaged with crypto issues Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The risk of regulatory change is high: as international pressure mounts, Seychelles may implement travel-rule requirements with retroactive effect, catching existing crypto businesses off guard Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

No official source addresses cross-border data sharing agreements for crypto transactions, which is a fundamental requirement for travel-rule compliance Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

The Visitor’s Permit system, with its SCR 5,000 extension fee, highlights that Seychelles has an immigration fee structure, but the absence of any analogous fee or registration for VASPs underscores the regulatory void Visitors Permit

For a busy practitioner, the key takeaway is that Seychelles is a high-risk, low-clarity jurisdiction for crypto travel-rule compliance, and businesses should proceed with extreme caution until official guidance emerges Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

Seychelles Extends Travel Authorisation Requirements to Travellers entering by Sea - Tourism Seychelles

Travelling to Seychelles - Ministry of Foreign Affairs and the Diaspora

Seychelles Travel Advisory | Travel.State.gov

Seychelles Travel Advice & Safety | Smartraveller

Individuals and Corporations (excluding real estate): Seychelles generally does not impose a capital gains tax on the sale of assets, including virtual assets, for individuals or most corporate entities (such as International Business Companies or IBCs) unless the gain arises from the sale of immovable property situated in Seychelles.

Therefore, profits derived from the appreciation and sale of cryptocurrencies are typically not subject to capital gains tax in Seychelles.

Passive Investment: If an individual buys and holds virtual assets as a passive investment, and profits are realized through their sale (as capital gains), these are generally not subject to income tax due to the absence of a general capital gains tax.

Professional Trading/Mining/Business Activity: If an individual engages in crypto activities (e.g., active day trading, extensive mining operations, providing crypto-related services) in a manner that constitutes a regular business or employment, the profits derived from these activities could be classified as business income or employment income. This income would then be subject to the standard personal income tax rates (Progressive tax rates apply to employment income; business income is subject to Business Tax). However, the definition of "business" for crypto activities by individuals can be nuanced.

International Business Companies (IBCs): Historically, IBCs were exempt from all taxes on income derived from outside Seychelles. However, due to international tax reforms (e.g., BEPS and EU requirements), this has changed.

As of January 1, 2019, IBCs are now subject to the Business Tax Act. If an IBC conducts business activities (including crypto-related activities) globally, its income is generally subject to a 1.5% business tax.

Important Nuance: There are still provisions for 0% tax for "international business" activities if certain conditions are met (e.g., no business conducted in Seychelles, no Seychelles-sourced income, no ownership of immovable property in Seychelles). A Virtual Asset Service Provider (VASP) operating an exchange or providing other crypto services primarily to non-Seychelles residents might aim for this 0% rate, but careful structuring and adherence to substance requirements are critical.

Domestic Companies (Companies incorporated under the Companies Act 2017, conducting business in Seychelles): These companies are subject to the standard corporate business tax rates, which can range from 0% (for the first SCR 1,000,000 of taxable income for local businesses) up to 33% for larger profits, depending on the business's taxable income and type. If a domestic company is engaged in crypto-related services within Seychelles, its profits would be taxed accordingly.

Virtual Assets as Financial Instruments: For VAT/GST purposes, virtual assets are generally treated as financial instruments or currencies by many tax authorities globally.

Supply of Virtual Assets: The mere "supply" or exchange of virtual assets (e.g., buying or selling crypto) is typically considered an exempt financial service and thus not subject to GST. This means no GST is levied on the value of the crypto itself during a transaction.

Services Related to Virtual Assets: However, services related to virtual assets (e.g., exchange fees charged by a VASP, custodial services, advisory services) provided by a GST-registered business in Seychelles would generally be subject to the standard GST rate of 15%.

Given the general absence of capital gains tax and the nuanced income tax treatment, there are no specific crypto-centric tax reporting requirements for individuals in Seychelles.

Businesses, including IBCs and domestic companies, are required to file annual tax returns with the Seychelles Revenue Commission, reporting all income and expenses. If crypto activities generate taxable income, they must be included in these returns.

Regulatory Reporting (Crucial for VASPs): While not strictly tax reporting, it is vital to understand that businesses dealing with virtual assets in Seychelles are subject to significant regulatory reporting requirements under Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) frameworks.

The Financial Services Authority (FSA) and the Financial Intelligence Unit (FIU) regulate Virtual Asset Service Providers (VASPs). VASPs are required to:

Register or obtain a license from the FSA (if required based on their activities).

Implement robust AML/CFT policies and procedures.

Conduct customer due diligence (CDD) and know-your-customer (KYC) checks.

Report suspicious transactions to the FIU.

Maintain comprehensive records of transactions and customer data.

These regulatory reporting obligations are extensive and are the primary reporting burden for businesses in the crypto space in Seychelles.

As of my last update, Seychelles does not have specific tax legislation dedicated solely to virtual assets or cryptocurrencies.

The approach has been to integrate virtual asset activities into existing tax laws (Business Tax Act, Income Tax Act, GST Act) where applicable, based on the nature of the activity.

However, Seychelles does have significant regulatory legislation for virtual assets:

Virtual Assets and Initial Token Offerings Act, 2021 (VAITO Act): This Act provides a regulatory framework for virtual assets and virtual asset service providers (VASPs) in Seychelles. It defines virtual assets, outlines licensing requirements for VASPs, and establishes regulations for Initial Token Offerings (ITOs). While regulatory, it sets the legal definitions and operational requirements that indirectly impact the tax treatment by defining what constitutes a "virtual asset business."

This is the primary tax authority responsible for the administration and collection of taxes in Seychelles. Their website provides information on the Business Tax Act, Goods and Services Tax Act, and other tax legislation.

The FSA is the integrated regulator for non-bank financial services in Seychelles. This includes regulating Virtual Asset Service Providers (VASPs) under the VAITO Act. While not a tax authority, their regulations define "virtual assets" and "VASPs," which are crucial for determining tax applicability.

Look for information on Virtual Assets or the VAITO Act under "Legislation" or "Publications."

The FIU is responsible for receiving, analyzing, and disseminating financial intelligence to combat money laundering and terrorist financing. VASPs are required to report suspicious activities to the FIU.

Information on AML/CFT guidelines and reporting obligations can be found here.

Seychelles is actively developing a regulatory framework for Virtual Asset Service Providers (VASPs), with the Ministry of Finance, National Planning and Trade having published a public consultation response in 2025 outlining the proposed framework Virtual Asset Service Providers Framework Industry Consultation Response

The Seychelles Licensing Authority (SLA) is the primary licensing body for business activities, operating under the Licensing Act, and processes all business license applications within 14 days Business License Application - Seychelles Licensing Authority

The Central Bank of Seychelles (CBS) is involved in payment system regulation, and the Securities Act, 2007 is being amended to address emerging risks in the securities sector Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

As of the information available, no specific VASP or cryptocurrency exchange licenses have been issued under a dedicated digital asset framework, as the framework is still in the consultation and development phase Virtual Asset Service Providers Framework Industry Consultation Response

The practical reality is that businesses must currently operate under general business licensing requirements while awaiting the finalization of the dedicated VASP framework Home - Seychelles Licensing Authority

The Ministry of Finance, National Planning and Trade is the lead government body developing the Virtual Asset Service Providers framework, having published a formal Response to Public Consultation document Virtual Asset Service Providers Framework Industry Consultation Response

The Seychelles Licensing Authority (SLA) is the main regulatory agency responsible for issuing business licenses, operating since 1984, with its official website at https://www.sla.gov.sc/ Home - Seychelles Licensing Authority

The Licensing Act governs the business licensing process, and under its provisions, the SLA must deal with a license application within 14 days Business License Application - Seychelles Licensing Authority

The Securities Act, 2007 is the primary legislation for securities regulation in Seychelles, and the Cabinet of Ministers has approved key reforms to this Act to enhance regulation and compliance in response to market developments and emerging risks Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The National Payment System (Licensing and Authorization) Regulations 2014 have been amended to introduce new criteria for licensing and authorization, including requirements that applications align with national interests and adhere to both the NPSR and Securities Act Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The Central Bank of Seychelles (CBS) is the authority responsible for the payment system and has been approved to initiate the phased sun-setting of cheques, with the National Payment System regulations being modernized to align with international standards Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The Cabinet of Ministers has approved the signing and adoption of the Multilateral Instrument (MLI) for the implementation of the Pillar Two Subject to Tax Rule (STTR) as developed by the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting (BEPS) Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The SLA maintains a list of Acts and Regulations that license holders must abide by, available at their Licences Act and Regulations page Licences Act and Regulations Archives - Seychelles Licensing Authority

The FSA (Financial Services Authority) has the power to exempt groups of licensees deemed as low risk from having to appoint compliance officers, indicating an existing securities licensing regime under FSA oversight News - Press Room - Ministry of Finance, National Planning and Trade

Any applicant must obtain a business license as a sole trader with a valid National Identity Number (NIN) or as a registered company or business with a valid Business Registration Number (BRN) Business License Application - Seychelles Licensing Authority

The business license application process includes: filling and submitting an application form, approval of application by the CEO or Deputy CEO of SLA, payment of license fee, and collection of the issued license Business License Application - Seychelles Licensing Authority

If the business license activity requires one or more premises, there is a process of inspection by inspectors and relevant consulting agencies including the Planning Authority, Public Health Department, Seychelles Tourism Board, Fire Safety & Rescue Agency, Department of Environment, Department of Information Communication Technology and Landscape & Waste Management Agency Business License Application - Seychelles Licensing Authority

Each application form contains the license fees, the relevant supporting documents needed, and any other specific requirements for the license Business License Application - Seychelles Licensing Authority

The SLA must deal with a license application within 14 days in accordance with the provisions of the Licensing Act Business License Application - Seychelles Licensing Authority

Foreigners applying for business licenses have a specific procedure outlined by the SLA Business license Procedure for foreigners - Seychelles Licensing Authority

The SLA provides specific licensing categories for professional services, including separate categories for Accountants and Auditors, indicating a sector-specific licensing approach Professional Services (Accountant) - Seychelles Licensing Authority

The Professional Services (Auditor) category has its own distinct licensing requirements under the SLA Professional Services (Auditor) - Seychelles Licensing Authority

The Financial Services Authority (FSA) has the authority to exempt groups of licensees deemed as low risk from having to appoint compliance officers, with a group of 5 licensees having been granted such exemption News - Press Room - Ministry of Finance, National Planning and Trade

As of the current information available, there are NO entities that have been licensed specifically as Virtual Asset Service Providers or cryptocurrency exchanges under a dedicated digital asset framework, as the VASP framework is still in the consultation and development phase Virtual Asset Service Providers Framework Industry Consultation Response

The amendments to the National Payment System (Licensing and Authorization) Regulations 2014 include enhanced measures for fraud prevention, data security, and business continuity for Payment Service Providers and Operators Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The Financial Services Authority (FSA) requires certain licensees to appoint compliance officers, though it has the power to exempt groups of licensees deemed as low risk from this requirement News - Press Room - Ministry of Finance, National Planning and Trade

The revised National Payment System regulations require applications for licensing and authorization to adhere to both the NPSR and Securities Act, which would encompass compliance obligations Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The proposed VASP framework as detailed in the Ministry of Finance consultation response addresses these obligations within the context of the overall regulatory approach Virtual Asset Service Providers Framework Industry Consultation Response

The Cabinet of Ministers approved the implementation of mandatory electronic cash registers and Point of Sale (PoS) systems across various economic sectors effective January 2025, which is a compliance enhancement measure rather than an enforcement action Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

No specific enforcement actions, fines, penalties, or arrests related to cryptocurrency or digital asset securities violations have been documented in the provided source materials

The regulatory reforms to the Securities Act, 2007 have been initiated to address emerging risks, suggesting that enforcement capabilities are being strengthened proactively Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

No tax guidance has been issued for virtual assets in the provided source materials

The Cabinet of Ministers has approved the adoption of the Multilateral Instrument (MLI) for the Pillar Two Subject to Tax Rule (STTR), which enables Seychelles to impose an additional tax on certain cross-border payments not subject to a minimum tax rate of 9% in the recipient's country Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The STTR MLI adoption supports international efforts to combat tax avoidance and aligns with global standards on tax transparency and fairness, which may have implications for digital asset transactions Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The VASP framework is still in the consultation response phase, meaning there is currently no finalized, operational licensing regime specifically for cryptocurrency businesses in Seychelles Virtual Asset Service Providers Framework Industry Consultation Response

Businesses engaging in cryptocurrency activities currently fall under the general business licensing regime of the SLA, which was not designed specifically for digital asset operations Business License Application - Seychelles Licensing Authority

The Securities Act, 2007 reforms have been approved but the implementation timeline and specific provisions for digital assets are not yet publicly detailed Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The National Payment System regulations have been amended, but the interaction between payment system regulation and VASP regulation for cryptocurrency businesses remains to be clarified Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

The Central Bank of Seychelles is modernizing the payment landscape, including the phasing out of cheques, but the role of CBS in overseeing cryptocurrency payment systems is not clearly defined in the available documentation Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

There is no publicly available information confirming whether any cryptocurrency exchange or VASP has been licensed, creating regulatory uncertainty for market entrants Home - Seychelles Licensing Authority

The FSA's exemption of certain licensees from compliance officer requirements suggests a risk-based approach, but the criteria for such exemptions in the context of digital assets is not publicly detailed News - Press Room - Ministry of Finance, National Planning and Trade

Businesses must navigate the SLA's 14-day processing timeline for license applications, which may not account for the complexity of digital asset business models Business License Application - Seychelles Licensing Authority

Virtual Asset Service Providers Framework Industry Consultation Response

Home - Seychelles Licensing Authority

Cabinet Business -Thursday 12th September 2024 - News - State House Seychelles | Office of the President

Business License Application - Seychelles Licensing Authority

Professional Services (Accountant) - Seychelles Licensing Authority

Licences Act and Regulations Archives - Seychelles Licensing Authority

News - Press Room - Ministry of Finance, National Planning and Trade

Business license Procedure for foreigners - Seychelles Licensing Authority

Professional Services (Auditor) - Seychelles Licensing Authority