Exhibit 21.1
Subsidiaries of the Registrant
The following are the subsidiaries of Elephant Talk Communications, Inc.:
| 1. | Elephant Talk Europe Holding B.V., a Netherlands entity (wholly-owned subsidiary of the Registrant). |
| 2. | Elephant Talk Global Holding B. V., a Netherlands entity (wholly-owned subsidiary of the Registrant). |
| 3. | Elephant Talk Limited, a Hong Kong entity (wholly-owned subsidiary of the Registrant). |
| 4. | Elephant Talk Communications France S.A.S., a French entity (wholly-owned subsidiary of the Registrant). |
| 5. | Elephant Talk Communications Holding AG, a Swiss entity (wholly-owned subsidiary of the Registrant). |
| 6. | Elephant Talk Communications PRS U.K. Limited, a British entity (majority-owned subsidiary of the Registrant). |
| 7. | Elephant Talk Communications Luxemburg SA, a Luxemburg entity (wholly-owned subsidiary of the Registrant). |
| 8. | Elephant Talk Business Services W. L.L.i.o. a Bahrainian entity (wholly-owned subsidiary of the Registrant). |
| 9. | Elephant Talk Communications SLU., a Spanish entity (wholly-owned subsidiary of the Registrant). |
| 10. | Elephant Talk Communication Austria GmbH, an Austrian entity (wholly-owned subsidiary of the Registrant). |
| 11. | Vocalis Austria GmbH, an Austrian entity (wholly-owned subsidiary of the Registrant). |
| 12. | ET-STREAM GmbH, a Swiss entity (wholly-owned subsidiary of the Registrant). |
| 13. | Elephant Talk Communications (Europe) GmbH, a Swiss entity (wholly-owned subsidiary of the Registrant). |
| 14. | Cardnet Clearing Services B.V., a Netherlands entity (wholly-owned subsidiary of the Registrant). |
| 15. | Elephant Talk Communications Premium Rate Services B.V., a Netherlands entity (majority-owned subsidiary of the Registrant). |
| 16. | Elephant Talk Communications Italy S.R.L. an Italian entity (wholly-owned subsidiary of the Registrant). |
| 17. | Elephant Talk Communications Carrier Services GmbH, a Swiss entity (wholly-owned subsidiary of the Registrant). |
| 18. | Elephant Talk Communications Carrier Schweiz GmbH, a Swiss entity (wholly-owned subsidiary of the Registrant). |
| 19. | Elephant Talk Communications Carrier Services GmbH Branch, a Swiss entity (wholly-owned subsidiary of the Registrant). |
| 20. | Elephant Talk Communications Carrier Schweiz GmbH Branch, a Belgium entity (wholly-owned subsidiary of the Registrant). |
| 21. | Elephant Talk Middle East & Africa (Holding) W.L.L., a Bahrainian entity (majority-owned subsidiary of the Registrant). |
| 22. | Elephant Talk Middle East & Africa (Holding) Jordan LLC., a Jordanian entity (wholly-owned subsidiary of the Registrant). |
| 23. | Elephant Talk Middle East & Africa W.L.L., a Bahrainian entity (majority-owned subsidiary of the Registrant). |
| 24. | Elephant Talk Middle East & Africa FZ-LLC,. a Dubhai entity (majority-owned subsidiary of the Registrant). |
| 25. | ET Stream Limited, a Hong Kong entity(wholly-owned subsidiary of the Registrant). |
| 26. | Full Mark Technology Limited, a British Virgin Islands entity (wholly-owned subsidiary of the Registrant). |
| 27. | Jinfuyi Technology Limited, a Chinese entity (wholly-owned subsidiary of the Registrant). |