Key takeaways
- Company-only routes take days; Comoros licences weeks; regulated offshore licences months.
- Onshore regulators such as CySEC, the DFSA or an FSCA ODP can take a year or more.
- Incomplete fit-and-proper files are the most common cause of delay.
- Bank and PSP onboarding should run in parallel.
Indicative timelines
| Jurisdiction | Typical timeline |
|---|---|
| Saint Lucia, St Vincent, Marshall Islands (company only) | Days |
| Comoros – Mwali, Anjouan | Weeks |
| Seychelles, Vanuatu, Belize | 3–6 months |
| Mauritius, BVI, Labuan | 4–8 months |
| The Bahamas | 4–9 months |
| Cayman Islands, Cyprus | 6–12 months |
| UAE (DFSA, CMA, FSRA) | About 3–14 months by licence |
| South Africa (FSP / ODP) | 4–9 months / 9–18 months or more |
Timelines run from a complete application. See every profile in the comparison table.
What slows applications down
- Missing or uncertified personal documents.
- Unclear source of funds.
- Business plans that do not match the model.
- Officers without relevant experience.
- Changes of owners or directors during the review.