Case: Relocating a crypto business from SVG to Panama in 4 weeks
What was the client's request?
The client requested assistance in maintaining the legality of cryptocurrency activities. His company was registered in the jurisdiction of Saint Vincent and the Grenadines (SVG). In accordance with the Virtual Asset Business Act No. 9 of 2022, as amended, the process of applying for registration of a virtual asset business in Saint Vincent and the Grenadines officially began on 2 June 2025.
Organisations providing virtual asset services, as defined in the Virtual Asset Business Act (VABA), are required to register with the Financial Services Authority.
The client wanted to retain the ability to work with cryptocurrencies, but without the risk of having their business suspended.
Why did he not want to or could not implement the task himself?
Resolving the issue independently carried significant risks:
- The client had no experience interacting with the local regulator and was unfamiliar with the procedures for extending or transferring activities.
- Errors in the submission of documents could have led to registration being refused and operations being blocked.
- Due to changes in regulation, the deadlines were tight, and the process required a quick and accurate legal response.
- It was also difficult for the client to find a suitable alternative jurisdiction on their own, given the differences in requirements for crypto activities and compliance.
What solution did we propose and why?
After analysing the situation, we proposed registering a new company in Panama and transferring the client's activities there. Panama was chosen as a crypto-friendly jurisdiction with flexible regulations, a loyal tax system and the ability to legally provide services related to digital assets.
At the same time, a deferral was arranged for the existing company in SVG for the transition to new activities until the end of September, which allowed us to avoid penalties and maintain legal status until the re-registration was completed.
Were there any difficulties in resolving the request? If so, what were they?
The main difficulty was the tight deadlines set by the SVG regulator and the need to communicate in two jurisdictions at the same time. It was also necessary to correctly draw up the documents so that the new company in Panama could continue its activities without interrupting operations — while the old company was still functioning, we registered the new one and then closed the old one. All issues were resolved within the set deadline.
Case duration
The entire process, from analysing the situation to completing the registration and changing the business activity, took approximately four weeks.
What specialists were involved?
- Corporate lawyer specialising in international structures;
- Specialist in company registration in Panama;
- Expert in cryptocurrency regulation;
- AML/compliance consultant.
Result
- The client successfully transferred its activities from SVG to Panama, maintaining its legal status and continuity of operations.
- We managed to avoid blocking, fines and additional costs associated with the new regulations in SVG.
- The project was completed on time, the client received a ready-made working solution and remained in contact for further support.
