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The Seychelles Financial Services Authority

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Requirements for Obtaining a License under the Seychelles Financial Services Authority (FSA)

To obtain a license from the Seychelles Financial Services Authority (FSA), applicants must adhere to a defined process, pay the applicable fees, and meet the regulatory requirements relevant to their desired license type. Below is a detailed breakdown of the requirements, fees, and steps for obtaining a license.

1. License Fees

A: Registry Services

  • International Business Company (IBC - Non-PCC): Registration fee is US$130, and the annual fee is US$140.
  • International Business Company (PCC): Application fee is US$200, registration fee is US$500, and the annual fee is US$500.
  • Foundation: Registration fee is US$200, with an annual fee of US$200.
  • Limited Partnership: Registration fee is US$200, with an annual fee of US$200.
  • Trust: Registration fee is US$100 with no annual fee.

B: Fiduciary Services

  • Protected Cell Companies (PCC - under the 1972 Ordinance): Application fee is US$200.
  • Companies with Special Licenses: Application fee is US$200.
  • Fully Fledged Licenses:
  • International Corporate Services: US$400.
  • Trustee Services: US$400.
  • Foundation Services: US$400.
  • All three licenses together: No additional fee.
  • Managed Service Providers:
  • International Corporate Services: US$400.
  • Foundation Services: US$400.
  • Both licenses together: No additional fee.

C: Capital Markets and Collective Investment Schemes

  • Securities Exchange: Application fee is US$3,000.
  • Securities Facility: Application fee is US$2,000.
  • Clearing Agency: Application fee is US$3,000.
  • Securities Dealer: Application fee is US$1,500.
  • Securities Dealer’s Representative: Application fee is US$500.
  • Investment Advisor (Individual): Application fee is US$1,250.
  • Investment Advisor (Company): Application fee is US$1,500.
  • Investment Advisor’s Representative: Application fee is US$500.
  • Fund Administrator: Application fee is US$1,500.
  • Private Fund, Public Fund: Each requires US$1,500.
  • Professional Fund: Application fee is US$1,000.
  • Exempt Fund: Application fee is US$2,000.
  • Restricted Fund Administrator: Application fee is US$1,000.
  • Approved Foreign Administrator: Application fee is US$2,000.

D: International Trade Zone Licenses

  • Redistribution License: No fee.
  • Light Assembly License: No fee.
  • Manufacturing License: Application fee is US$1,300.
  • Processing License: Application fee is US$1,300.
  • Export Services License: Application fee is US$500.

2. Application Process

  1. Prepare the Application:
  2. Applicants must complete the relevant application form, pay the application fee, and submit all required supporting documents. Application guidelines and forms can be accessed on the FSA’s website.
  3. Complete the Application Fully:
  4. Ensure all information is provided accurately. Incomplete applications or failure to disclose required details may lead to rejection.
  5. Submit the Application:
  6. All applications seeking FSA approval must be addressed to:
  7. The Chief Executive Officer
  8. Financial Services Authority
  9. P.O. Box 991
  10. Victoria, Mahé
  11. Republic of Seychelles
  12. Applications can be mailed or hand-delivered.

3. Key Notes for Applicants

  • All fees are non-refundable.
  • Annual fees must be paid to maintain the validity of the license.
  • The FSA may request additional information or clarification during the review process.

Conclusion

By following the outlined process and meeting the specified requirements, businesses and individuals can successfully obtain licenses to operate in Seychelles’ regulated non-bank financial services sector. Compliance with the FSA’s standards ensures transparency, accountability, and trust within the financial ecosystem.