BVI vs Panama for a Crypto License: Which Should You Choose?
Should you license in BVI or Panama? The right answer depends entirely on who your customers are. Here is the decision framework we use with clients. CRYPTO LICENSE GUIDE · 2026 BVI vs Panama crypto license Crypto licensing across 15+ jurisdictions CONSULTING24.CO The Core Trade-off BVI works through registration under the BVI VASP Act 2022 (the BVI Financial Services Commission), costs about $25,000–$60,000, and takes 8–16 weeks. Panama uses a Sociedad Anónima with no dedicated VASP regime, costs $15,000–$45,000, and takes 6–12 weeks. In short: BVI typically buys you regulatory standing in the Caribbean offshore market; Panama buys you speed, low cost and 0% tax on foreign-source income. The 4 stages of getting licensed 1 Choose jurisdiction match your customers 2 Incorporate set up the entity 3 AML / KYC program the banking key 4 Open banking fiat on/off-ramps When BVI Wins Pick BVI if your priority is offshore operators who want more legal certainty than a pure-of...