SVG as an offshore hub for cryptocasino (Saint Vincent and the Grenadines)

1) Context: Why SVG

Saint Vincent and the Grenadines (SVG) is a mature offshore jurisdiction of the Caribbean region with a developed company registration infrastructure (VS/ex. IBC), international trusts and other corporate forms. This area is managed by the Financial Services Authority (FSA), which positions the entire "safe and sustainable financial center."

For crypto projects and related iGaming businesses (affiliates, payment providers, content hosting, B2B providers), SVG is attractive:

flexible corporate law (BC/IBC) and the availability of incorporation, which is actively promoted by corporate providers, experience as an international financial center since the 1970s, regulatory certainty for VASP: there is a registration regime for virtual-active businesses.

💡 Important: according to CFATF/FATF MER-2024, SVG is not formally considered a major regional/international financial center in terms of assets; the economy is based on agriculture and tourism. This sets a moderate "weight" for the jurisdiction, despite the developed corporate services.

2) Domestic online gambling: legal vacuum

Local online casinos/online bookmakers as separate licensed categories are not yet provided - the country has an offline lottery model (National Lotteries Authority) and a historical offline base, but there is no special regime for private online operators. Therefore, cryptocasinos focused on foreign markets use SVG primarily as the jurisdiction of registration of holdings/service companies, and not as an "online casino licensor."

3) Cryptoregulation: VASP mode (2022 → updates 2025)

Virtual assets: FSA confirms the possibility of licensing/registering virtual-active businesses; the legislative framework is laid down by the act on virtual assets (originally adopted in 2022, with subsequent updates and the launch of a full-fledged procedure in 2025).

Procedures 2025: For legal reviews and consultants, a modern VASP regime came into effect on May 31, 2025, including mandatory registration, XCD 100,000 statutory deposit, local representative requirement and professional liability insurance; established deadline for submitting applications in the summer of 2025

AML/CFT policy: a fresh CFATF mutual assessment (MER-2024) records SVG's progress in combating money laundering and terrorist financing, but emphasizes the need for improvements in the VASP sector. This sets the vector of enhanced supervision of crypto projects.

4) How cryptocasinos use SVG in practice

The structure of the "offshore center" here is corporate and payment, not a "gaming license":

1. Holding company (BC/IBC) in SVG - for IP/brand ownership, affiliate network, contracts with content providers.

2. VASP link - exchange/wallet/processing of cryptocurrencies if the project operates with VA payments; Log in to the FSA in Virtual Asset Business mode.

3. The operational link (B2C games, live studios, RNG hosting) is usually transferred to other jurisdictions/data centers with the appropriate iGaming licenses and technical certification. (This is critical for SVG: the country does not issue separate online gaming licenses.)

This split design minimizes regulatory conflicts and allows you to comply with the requirements of the markets targeted by the operator.

5) Advantages for cryptocasino and related iGaming projects

Rate of incorporation and costs: BC/IBC in SVG is one of the standards for cross-border structures.

Regulatory certainty for VA: there is an understandable VASP registration process (capital/deposit/local representative requirements).

Reputational enhancement through the AML framework: availability of up-to-date MER assessment and increased FIU/FSA oversight.

6) Key risks and limitations

Lack of a local online gaming license: unregulated "SVG-licensed online casinos" - incorrect wording; at best, the SVG project has a corporate registration/VASP, not a gambling license. This must be clearly communicated to partners and payment providers.

AML/CFT compliance: CFATF fixes zones for improvement (including the virtual asset sector). Operators will need full-fledged risk-based AML/KYC, transaction monitoring, sanctions lists, FIU reporting.

De-risking banks/payment systems: offshore jurisdiction increases the likelihood of additional verification of correspondent settlements and partners. (A strict VASP scheme and transparent source policies help here.)

Incorrect marketing: any hints of servicing prohibited markets is a risk of blocking/investigations.

7) Basic checklist for cryptocasino with structure in SVG

1. Legal entity BC/IBC + statutory documents, beneficiaries, corporate governance.

2. VASP registration (if you accept cryptocurrencies/hold wallets/change VA): application to the FSA, statutory deposit, local representative, insurance policies, internal policies.

3. AML/KYC package: risk policy, onboarding procedures, EDD triggers, transaction monitoring, SAR/STR in FIU.

4. Technical architecture: wallet segregation, private key management, event logs, reporting.

5. iGaming license in another jurisdiction for B2C activities (where required), RNG/live certification, provider contracts.

6. Marketing geography: geo-filters, self-exclusion, RG tools for the markets to which the product is really focused.

7. Tax/accounting: assessment of GGR/payment taxes in "target" countries + corporate and VASP fees in SVG.

8) Alternatives and combined models

Many cryptocasinos build a "hybrid": a corporate base in SVG + iGaming license in another country + payment/VASP nodes in different jurisdictions. This allows:

distribute legal risks, optimize taxation and payment channels, comply with the requirements of local regulators when the product becomes multinational. (SVG in this scheme is a reliable corporate anchor and hub for VA compliance.)

9) Forecast 2025-2028

Short horizon (2025-2026): consolidation of the VASP mode (registration of "waves" of projects, increasing inspections and reporting).

Middle horizon (2027-2028): increased requirements for risk management, possible clarifications of capital standards and travel management, expansion of international data exchange.

Online gaming: no dedicated local B2C online casino/bookmaker licence is expected yet; SVG will retain the role of corporate and VASP hub for projects focused on foreign markets.

Sources

FSA SVG: mission, international financial services (IFC), corporate forms.

BC/IBC and offshore incorporation into SVG - corporate reference materials.

Virtual Asset Businesses (VASP) in SVG: official section and FSA help.

Starting VASP mode 31. 05. 2025, key requirements (deposit, representative, insurance), deadline of applications.

CFATF/FATF MER-2024 by SVG: economy status, AML/CFT focus, improvement zones (including by VASP).

Lottery model and lack of a separate local online gaming license (NLA as a valid segment).