Seychelles

• Openness. Seychelles are truly open to foreign investment. The government actively supports the attraction of foreign capital, and the legislation provides favorable conditions for doing business by foreign companies.
• Positive attitude to virtual assets. Despite the absence of official recognition of bitcoin as a means of payment, the country remains one of the centers of cryptocurrency and blockchain activity. Many international crypto exchanges and blockchain projects have chosen Seychelles as the main or backup jurisdiction for work.
• The launch of the project here is quite fast. Seychelles provide the opportunity for a relatively fast start for cryptocurrency and fintech companies. Company registration takes only a few days, and the process of applying for a cryptolicense potentially can take about 5-7 months.
• English is the official language. Also used French and Creole. However, in the business environment English is the main language, and all official documents, including licenses and regulatory requirements, are issued in English.

• Medium level of corruption. According to the Corruption Perceptions Index, Seychelles have a moderate level of transparency in international rankings, which sometimes causes concern in the business environment. However, the government takes measures to improve regulation and attract foreign investors.
• Regulation appeared just recently. As a result, Seychelles are only just beginning to test the cryptolicense system and learn to build relationships between the regulator and business, which can sometimes lead to unexpected delays. 
• At least one director must be a resident of Seychelles. Despite this barrier, we can help you overcome it.
• There is no special regulation in relation to DAO, and mining and crypto mixers are illegal. Unlike some other jurisdictions, there are no separate laws regulating decentralized autonomous organizations (DAO). However, mining and service mixers, which allow users to "mix" their cryptocurrency with the means of other, are prohibited.

The level of expenses for legalization in the jurisdiction is medium.

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• State fee for company creation: from USD 500 
• Share capital: from USD 25,000 to USD 100,000 depending on the type of activity
• State fee for considering the application for a license: USD 5,530
• Annual state fee for a license: from USD 5,530 to USD 27,650 depending on the type of activity

• Filling out the registration form with key information and preparing data for registration.
• Preparing and submitting the founding documents.
• Registration of the company in the commercial register.
• Receipt of registration documents.

• Preparing and submitting an application for a cryptolicense.
• Payment of state fees for considering the application.
• Consideration of the application by the regulator and possible additional requests.
• Final approval and receipt of the license.
• Post-license compliance with requirements (compliance, audit, reporting).