Saint Vincent and the Grenadines Compliance Report

Regulatory Overview

Regulatory Status

Regulators have not addressed crypto; legal status ambiguous

Key Regulator(s)

Financial Services Authority

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)

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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