Seychelles now anti crypto?

[dedicator]

Today I have received this email from my current agency.

"Unfortunately, Bitcoin and other cryptocurrencies are now classified as high-risk in the Seychelles.

Recently we received many complaints and requests from authorities for companies engaged in cryptocurrency trading or other related activities (tokens, platforms,s etc.)

At the same time, these companies declare that they are dormant.

Thus, we will be resigning as RA for companies with software development and similar activity unless we receive accounting records.

According to the above warning, cryptocurrencies, including Bitcoin, are prohibited, and software/technology are high-risk areas. Therefore, you may want to consider changing the nature of your business to an unrelated field."

Is that true? Seychelles was always some great place for a crypto company

 

[JohnnyDoe]

Not a big deal. You can’t do any serious business in that country.

 

[dedicator]

It's a big deal if I have to look for another jurisdiction for my company

 

[JohnnyDoe]

It's a big deal if I have to look for another jurisdiction for my company

Good occasion to move it to a better place.

 

[dedicator]

There is not really a much better alternative for my company. I mean I can register a company in Belize or Nevis. Thats it

 

[JohnnyDoe]

There is not really a much better alternative for my company. I mean I can register a company in Belize or Nevis. Thats it

Bahamas, Bermuda, Caymans, El Salvador, Panama, Puerto Rico…

 

[daniels27]

It's a big deal if I have to look for another jurisdiction for my company

How about you start doing consulting and marketing instead of software? They will leave you alone if I read properly

 

[JackAlabama]

Today I have received this email from my current agency.

"Unfortunately, Bitcoin and other cryptocurrencies are now classified as high-risk in the Seychelles.

Recently we received many complaints and requests from authorities for companies engaged in cryptocurrency trading or other related activities (tokens, platforms,s etc.)

At the same time, these companies declare that they are dormant.

Thus, we will be resigning as RA for companies with software development and similar activity unless we receive accounting records.

According to the above warning, cryptocurrencies, including Bitcoin, are prohibited, and software/technology are high-risk areas. Therefore, you may want to consider changing the nature of your business to an unrelated field."

Is that true? Seychelles was always some great place for a crypto company

just some banana republic things.
Id bet Ursula had a nice talk with them recently about democracy and shared values.

Jokes aside, they gave you already the answer what you have to do.

 

[JackAlabama]

Bahamas, Bermuda, Caymans, El Salvador, Panama, Puerto Rico…

do you have agents to recommend for Bahamas?

 

[JohnnyDoe]

do you have agents to recommend for Bahamas?

Yes, contact me in private.

 

[EliasIT]

There is not really a much better alternative for my company. I mean I can register a company in Belize or Nevis. Thats it

are you on a low budget since Seychelles is the only destination you consider for your business?

 

[dedicator]

are you on a low budget since Seychelles is the only destination you consider for your business?

No. I'm checking Marshal Island and some others right nowm

 

[wellington]

"Unfortunately, Bitcoin and other cryptocurrencies are now classified as high-risk in the Seychelles.

Yes, they stated in 2023 naming crypto companies that didn't have VASP licenses (which they introduced in 2024) they were naming companies that hadn't even operated in 5 yrs lol

 

[dedicator]

I don't run a company which needs a VASP license. My company just accept cryptos as payment method

 

[Clearsky Network]

Today I have received this email from my current agency.

"Unfortunately, Bitcoin and other cryptocurrencies are now classified as high-risk in the Seychelles.

Recently we received many complaints and requests from authorities for companies engaged in cryptocurrency trading or other related activities (tokens, platforms,s etc.)

At the same time, these companies declare that they are dormant.

Thus, we will be resigning as RA for companies with software development and similar activity unless we receive accounting records.

According to the above warning, cryptocurrencies, including Bitcoin, are prohibited, and software/technology are high-risk areas. Therefore, you may want to consider changing the nature of your business to an unrelated field."

Is that true? Seychelles was always some great place for a crypto company

Are you providing crypto trading platform and getting paid in crypto from your clients?

 

[dedicator]

No, I don't providing a crypto trading platform, no custodial services, no investment services. We run a total different business, we just accept cryptos as payment method.

 

[redeye]

Not a big deal. You can’t do any serious business in that country.

I agree, after it got difficult to get a bank account for a Seychelles company it's worth nothing to have a company there if purpose is only to do anonymous business.

 

[JohnnyDoe]

I agree, after it got difficult to get a bank account for a Seychelles company it's worth nothing to have a company there if purpose is only to do anonymous business.

Not only, but if you go there in person, visit local government offices and businesses you will realize that it’s a shithole, only good for tourism (in the hands of foreign corporations bribing local politicians).

 

[redeye]

Not only, but if you go there in person, visit local government offices and businesses you will realize that it’s a shithole, only good for tourism (in the hands of foreign corporations bribing local politicians).

yeah, 5 - 7 years ago someone on OCT even wrote about kidnapping business people there if they have high amounts of money in their bank account!

I stay off the island anyway...