Obtaining a crypto license in SVG

Obtaining a crypto license in SVG has several advantages:

• No taxes;
• Low running fees;
• No minimum authorized capital;
• No reporting;
• No anti-money laundering or compliance obligations.

Thus, if you want to avoid unnecessary taxation and too much scrutiny of your company’s work, the Crypto License in SVG is a good solution.

It is suitable for various crypto businesses, including marketplaces, crypto exchanges, DeFi projects, etc. Today, it does not matter what kind of crypto business you plan to open; you can quickly get a crypto license here.

Getting a permit in SVG is not difficult. Here you need to go through some critical steps:

• Make sure the SVG license is suitable for your business;
• Register your company in the chosen jurisdiction;
• Pay the fees;
• Create a well-thought-out business plan that will describe all the features of your company, what services you plan to provide, how much money you are willing to invest, and how quickly it will pay off;
• Prepare your AML/KYC policies;
• Open a local bank account;
• Structure the work of your company;
• Apply for a license.

Today in the world, there are a large number of jurisdictions where you can get a crypto license. We advise you to find the conditions in several countries in advance and only then decide.

Your company must have a legal address registered in SVG. It can be done remotely; registration of a legal address does not require a large package of documents and takes very little time.

When creating any business, you need to create a well-thought-out business plan, which will contain complete information about your organization, from the name to the financial aspects. The better you think through this document, the easier it will be for you to get a license and attract new investors.

If you want to work within the selected jurisdiction and with foreign partners, consider the AML / KYC policy. So, you must know your customers and take care of the security of their data.

You also need to open a local bank account, although there are no capital requirements. For the smooth functioning of an organization, it must have financial assets in a local bank.

When all documents are collected, you can apply for a license. In general, obtaining a permit takes about a week. Government agencies ask for a few days to review your documents and decide. It should be said right away that the percentage of failures here is minimal.

The SVG government is trying to simplify the requirements for crypto companies to obtain a license as much as possible. However, there are several essential requirements:

• The company must be registered in the chosen jurisdiction;
• You must have a sound business plan;
• You must identify the main functions that your company will perform in the first months (the list of services may be expanded in the future);
• No criminal record of the founder and all shareholders;
• High level of security for your online platform.

You must also have documents that describe local anti-money laundering laws’ internal risk management policy. There are no capital requirements here, but your company must have a local bank account.

As you can see, these requirements are much simpler than in other jurisdictions, so it will not be challenging to comply with them. In addition, you can apply for registration remotely, and you do not need to fly to this paradise island if you are not planning a vacation shortly.