Saint Vincent and the Grenadines Compliance Report

Regulatory Overview

Regulatory Status

Dedicated crypto/VA legislation, licensing regime, active enforcement

Key Regulator(s)

Financial Services Authority, National Anti-Money Laundering Committee

Primary Legislation

The Proceeds of Crime Act, 2013 (as amended): This act criminalizes money launde, The Anti-Money Laundering and Combating the Financing of Terrorism Act, 2017 (as, The Financial Intelligence Unit Act, 2001 (as amended): This act establishes the, The Terrorism Prevention Act, 2002 (as amended): This act provides for measures, Seek independent legal counsel specializing in SVG financial and AML law to ensu, Virtual Asset Business Act, 2023: This is the primary legislation governing Virt, Proceeds of Crime and Money Laundering (Prevention) Act [Cap 182 Revised Edition, Anti-Terrorism Act [Cap 180A Revised Edition 2009] (as amended): This act specif, Financial Intelligence Unit Act [Cap 180C Revised Edition 2009] (as amended): Es, Obtain the necessary license under the Virtual Asset Business Act, 2023., Mandatorily screen against UN sanctions lists as implemented in SVG law., See Part III, Division 1, Section 31 onwards of the Securities Act, 2003, Saint Vincent and the Grenadines Securities Act 2003, Anti-Money Laundering and Combating the Financing of Terrorism Act, 2017 (as ame, Proceeds of Crime Act, 2017 (as amended), International Business Companies Act, 2007 (as amended), The Companies Act, established in 2003, governs company incorporation and regist, Invest SVG, established in 2003 under the Companies Act, facilitates domestic an, The Companies Act provides that one or more persons may incorporate a company by, The Trade Disputes (Arbitration and Inquiry) Act provides mechanisms for dispute, Land-Holding Regulation, The Fiscal Incentives Act confers income tax credits in the form of an export al, The Duties and Taxes (Exemption in the Public Interest) Act authorizes Cabinet t, The legal system's reliance on British common law and the absence of crypto-spec

Travel Rule

Not adopted

Tax Reporting

No Capital Gains Tax: SVG does not levy a general capital gains tax, which is a significant factor for crypto investors.. No Specific Crypto Income Tax: There is no specific tax legislation addressing income derived from cryptocurrency activities. General income tax principles apply if crypto is earned as business income or salary.. VAT/GST: SVG has a Value Added Tax (VAT). Cryptocurrency transactions themselves are generally not considered a supply of goods or services for VAT purposes, or may be treated as exempt financial services, though fees charged by Virtual Asset Service Providers (VASPs) would typically be subject to VAT.. Regulation vs. Taxation: While taxation is minimal, SVG has a regulatory framework for Virtual Asset Service Providers (VASPs) focused on Anti-Money Laundering (AML) and Counter-Financing of Terrorism (CFT) requirements, overseen by the Financial Services Authority (FSA).. No Crypto-Specific Tax Legislation: As of the latest information, SVG has not enacted specific tax laws targeting cryptocurrency.

Key Facts

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