Seychelles

• Openness. Seychelles is truly open to foreign investment. The government actively supports the attraction of foreign capital, and the legislation provides favorable conditions for foreign companies to do business.
• Positive attitude towards virtual assets. Despite the lack of official recognition of bitcoin as a means of payment, the country remains one of the centers of cryptocurrency and blockchain activity. Many international cryptocurrency exchanges and blockchain projects have chosen Seychelles as a primary or backup jurisdiction to operate in.
• The launch of a project here happens quite quickly. Seychelles provides an opportunity for a relatively quick start for cryptocurrency and fintech companies. Company registration takes only a few days, and the process of applying for a crypto license can potentially take about 5-7 months.
• English is the official language. French and Creole are also used. However, in the business environment, English is the primary 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 has a moderate level of transparency in international rankings, which is sometimes a concern for the business community. However, the government is taking measures to improve regulation and attract foreign investors.
• Regulation has only recently emerged. As a result, Seychelles is just beginning to test the crypto-licensing system and is learning how to build relationships between the regulator and the business, which can lead to unexpected overlaps. 
• At least one board member must be a resident of Seychelles. Despite such a barrier, we can help to deal with it.
• There is no specific regulation for DAOs, and mining and cryptomixers are outlawed. Unlike some other jurisdictions, Seychelles does not have separate laws regulating Decentralized Autonomous Organizations (DAOs). However, mining and mixer services that allow users to "mix" their cryptocurrency funds with the funds of others are prohibited.

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

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• Company formation fee: from USD 500
• Authorized capital: from USD 25,000 to USD 100,000 depending on the type of activity
• Application fee for license application: USD 5,530
• Annual state license fee: 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.
• Preparation and filing of incorporation documents.
• Registration of the company in the commercial registry.
• Receipt of registration documents.

• Preparing and submitting an application for a crypto license.
• Payment of government fees for processing the application.
• Review of the application by the regulator and possible additional requests.
• Final approval and licensure.
• Post-license compliance (compliance, auditing, reporting).