Forex license in Seychelles
Seychelles jurisdiction is becoming more and more popular for brokers and investors from all over the world due to the soft regulation, transparent corporate policy, loyal taxation, and relatively low costs. If you would like to obtain a Seychelles Forex license – Gofaizen & Sherle will assist you with every step of the way with a guaranteed turnkey solution
Forex license in Seychelles, issued by the FSA (Seychelles Financial Services Authority) allows brokers to perform financial operations, trade securities themselves, or act as an agent.
The special authorization for securities services is controlled by the state regulator based on the Securities Act 2007. Companies registered in the country need to have this certificate for legal activities: to provide services on the web, to work in the field of securities (sale, purchase, exchange) and perform transactions, to provide brokerage services, portfolio management, and to provide advisory services.
Obtaining a Seychelles brokerage license does not cause any special difficulties and is one of the most advantageous investments in comparison with other jurisdictions. The amount of the state fee is $6,300. The minimum authorized capital requirement is $50,000. You can use it for the benefit of your company, for example for infrastructure development.
In addition, the process of obtaining a Seychelles forex license only takes up to 90 days.
Advantages of a forex license in Seychelles
- Transparent regulation and loyal attitude to foreign companies and investors;
- Flexible application policy and no unnecessary requirements that affect the Seychelles forex license issuance period;
- Corporate tax in Seychelles is only 1.5% of the total income of licensed companies;
- There are no other tax obligations;
- Licensed companies receive enhanced privacy guarantees;
- Access to personal IBAN and SWIFT of the company for clients;
- No limit on the number of clients;
- Low financial costs compared to other jurisdictions;
- Share capital requirement – $50,000, state fee up to $6,300;
- Relatively fast application processing time – up to 3 months.
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Packages of services for forex license in Seychelles
Full set up of FX Broker with all the necessary infrastructure, connection to KYC providers, local substance, and accounting services
- All services from Extended Package
- Filing of Business Tax Return
- Filing of Annual Returns
- KYC/KYT Platform
FX Broker registration with drafting all necessary legal documentation and corporate account opening
- All services from Basic Package
- Corporate Secretary for 1 year
- Public Officer for 1 year
- Bank account opening assistance
- Procedural Documents for license application
- Compliance Officer and AML Officer search and employment
- Local office search and appointment
- Bank account opening assistance
FX Broker registration under the minimum regulatory requirements
- Dedicated consultant with the fully provided individual approach
- Full turnkey company formation assistance
- Basic Corporate documents
- Basic AML/KYC Policy
- Professional Indemnity Insurance
- FOREX Broker license application
Requirements for obtaining a forex broker license in Seychelles
- It is necessary to register a company in the Seychelles with a share capital of $ 50,000;
- Appointment of 2 directors and 2 shareholders. Each of them must prove professional suitability and provide proof of ideal reputation;
- Presence of a local office;
- Compulsory appointment of a Seychelles brokerage license representative, a regulatory compliance officer, and a legal advisor;
- Availability of company insurance;
- Appointment of an auditor approved by the regulator no later than one calendar month after the licensing;
- Regular financial reporting and auditing of the company;
- Timely payment of state fees.
Process of Getting a Forex license in Seychelles
REGISTER THE COMPANY
You need to register your company at the local Registry and pay $50,000 in authorized capital. At the time of incorporation, you must have a leased local office
Gofaizen & Sherle will help you gather the documents and enter the company in the Registry with a positive result.
OPENING A CORPORATE ACCOUNT
Along with the registration, you will need a company account at a local bank. This account will be used for the depositing of the share capital during the licensing process, as well as for the further operation of the brokerage company.
You need to fill out an application form and submit it together with a package of documents, which include certified copies of the directors’ passports, the company’s articles of association, proof of office lease and opening of a bank account, and documents on the shareholders and directors.
It is recommended to contact Gofaizen & Sherle to ensure that the correct documents are prepared on time.
FILLING OUT THE APPLICATION FORM
You need to read the sample licensing application form on the regulator’s website and make sure you have all the information you need to fill it out.
SUBMITTING THE APPLICATION
Along with submitting your application to the FSA, you need to pay a state fee of $6,300.
You may be denied a Seychelles Forex brokerage license if:
- you have not deposited equity in a bank account at the time of application
- you did not pay the state fee
- you have not met the requirements of the regulator
If you are denied a license, the state fee is non-refundable.
Gofaizen & Sherle will help you to fill out the application with all the requirements of the jurisdiction for a positive response.
OBTAINING A SEYCHELLES FOREX LICENSE
If all of the above steps are completed correctly, the FSA will approve the license. The application takes up to 3 months to be processed. If you have not submitted a complete package of documents, the regulator may ask for additional information.
Overview of Forex license in Seychelles
|6 300 USD
|Minimum capital requirement
|50 000 USD
|Corporate income tax
Find out more about the Forex license in Seychelles
Types of Seychelles forex broker licenses
Seychelles provides a variety of licenses to operate in the forex and related financial fields. These licenses are issued by the Seychelles Financial Services Authority (FSA), which allows companies to conduct their business while complying with established regulatory standards.
The nature of your business will determine your choice of forex license in Seychelles, the volume of transactions, and the resources available:
- A dealer license allows companies to buy and sell financial instruments, including foreign exchange contracts, for the benefit of clients. This Seychelles forex license covers trading, brokerage, and market making.
- An investment advisor license allows companies to offer investment advice to clients, such as forex advice, strategic currency trading, and investment advice.
- A Specially Licensed Company License (CSL) suits various activities, including forex trading.
- Companies that trade forex use the commercial company license (IBC), providing a flexible model for various international business initiatives.
How to Start a Forex Company in Seychelles
IBC is a standard business form in Seychelles, which many foreign investors choose. Data on owners, managers, and shareholders of Seychelles IBC remain secret and unavailable to the general public. At the time of IBC registration, disclosing information about the real owners is not required. Only a licensed agent associated with the company knows this information. The only publicly available documents are the Memorandum and Articles of Association. This structure is chosen by those who seek privacy and data protection.
Requirements for IBC companies:
A minimum of one shareholder is required and may not be resident in Seychelles.
At least one director (not obligatory a Seychelles resident and may also act as a shareholder).
The company must have an official local office to receive letters and handle administrative and legal matters.
IBCs, for the most part, cannot operate within the jurisdiction as they are focused on international business outside the territory.
Annual payments are necessary to maintain the status and image of the company.
Duty to keep records of finances, meetings, and other corporate documents.
The process of establishing an IBC in Seychelles:
Step 1: Name Selection
Considering local regulations and restrictions, decide on a unique name for your future company.
Step 2: Establish a local registered office
Choose and indicate a legal address in the application form as the Seychelles correspondence address.
Step 3: Document preparation
Compile all the necessary documents that will be required for the registration process.
Certified Memorandum of Association of the company.
Notarized Articles of Association of the company.
Copies of passports of the participants and managers, certified by a notary.
Documents proving the residential address of the managing directors.
Statement of compliance with the local laws of Seychelles.
Confirmation of the director’s willingness to fulfill his duties.
The shareholders passed a formal resolution.
Details of the sources of funding.
Shareholders’ rights statements confirming shareholding in the company.
If necessary, a power of attorney for a representative acting on behalf of the company on incorporation.
Step 4: Technical Setup
Provide your business with the appropriate forex equipment and programs.
Step 5: Pay registration fees
Specify and pay all the state registration fees associated with setting up your company.
Step 6: Register your company
Submit all the prepared documents to register your company with the relevant authority officially.
Step 7: License Application
Apply to the FSA for a Seychelles Forex Brokerage License to operate in the forex market.
Step 8: Bank Account
Once the license is in hand, open a corporate account with one of the local banks.
Obtaining a Seychelles forex license entitles you to:
Participate in transactions with shares on the stock market;
Function as an intermediary in securities transactions based on purchase and sale orders;
Administer investment assets on behalf of the customer;
Enter into contracts for stocks, futures, and other financial assets.
The Seychelles Forex brokerage authorization allows your business enterprise to advise on allocating funds in securities, generate, analyze, or create reviews on specific financial instruments, and administer investment resources.
Documents for obtaining a Forex license in Seychelles
Documentation required to obtain a securities dealer’s license in Seychelles includes:
- License Application Form;
- Completed personal questionnaires by the directors of the company;
- Copies of documents of all directors and shareholders which prove their identity;
- A receipt, which confirms the payment of the state fee of $6,300;
- Copies of corporate documents: articles of incorporation, memorandum, certificate of the Registry;
- Notification of the place of custody of the Register of Securities and written notification of the representative as required by law;
- Copy of the insurance of the company;
- Certificates confirming the absence of criminal records of the founders and shareholders of the company;
- 2 copies of professional references certified by the notary;
- Utility bill (certified copy or the original);
- Bank statement confirming the existence of a corporate account;
- A professional resume confirming work experience in the financial sector.
All documents must be not older than 90 days, certified and, in some cases, may require an apostille and translation.
Regulation of Forex license in Seychelles
Seychelles`’ autonomous regulatory body, the Financial Services Authority (FSA), is responsible for the licensing and supervision of non-bank financial services. Established under the Financial Services Authority Act 2013, the FSA regulates various activities including insurance, investments, fiduciary services, international trade, and gambling. It is also responsible for the registration of international business companies in the Seychelles.
The FSA replaced the Seychelles International Business Administration Act of 1994 (SIBA) in 2014 to provide greater transparency and regulation of financial services. The body works to maintain investor confidence by updating the regulatory framework and improving its reputation.
The FSA has the power to regulate and supervise licensees, as well as to develop appropriate mechanisms for the effective management of financial services in the Seychelles.
The Securities Act 2007 sets out the regulatory framework for brokerage and other forms of securities trading in Seychelles. It obliges all brokerage firms to obtain the relevant license from the Financial Services Authority (FSA).
The Act also defines the norms and standards to which brokers must adhere, including capital requirements, reporting, company operations, as well as client protection regulations. This ensures transparency of operations, market integrity, and protection of investor interests.
In addition, the law provides for a system of supervision and control of compliance with the rules and regulations, which includes possible inspections of brokers for compliance with the law.
The Anti-Money Laundering Act 2006 provides a mechanism to counter money laundering and support for terrorism. It imposes duties on financial providers, such as forex brokers, about anti-money laundering (AML/CFT) procedures, customer due diligence, and suspicious activity reporting. Forex agents must maintain transfer records, including customer data, transfer history, correspondence, and documents. This information must be ready for inspection. When dealing with high-profile individuals, additional legal analysis is conducted due to the risk of abuse.
The Seychelles Special Licenses for Seychellois Companies Act 2003 regulates the licensing of financial providers such as forex brokers through the FSA. It sets out conditions for financial institutions to obtain a license, including capital criteria, provision of audits, and compliance with regulations.
FAQs About a Seychelles Forex License
Is forex trading Legal in Seychelles?
Yes, trading Forex in Seychelles is legal if you have the appropriate license.
What is the share capital for registering a company in Seychelles to get a Forex license?
The minimum share capital for registering a company in Seychelles for obtaining a Seychelles forex license is $50,000.
How long does it take to obtain a Forex License in Seychelles?
The process of obtaining a Seychelles brokerage license takes less time than in other jurisdictions and may be up to 90 days.
Why is Seychelles the Best Place to Get a Forex License?
Jurisdiction is attractive for obtaining a forex license in Seychelles, due to its transparent regulation and open policy towards foreign companies. The flexible application system minimizes red tape, low corporate tax of only 1.5% and low financial costs make the market very competitive.
How much does a Forex license cost in Seychelles?
The price for a Seychelles Forex license with our support is individually tailored to your request and can be about 46,300 USD, including all government fees and professional services.
What is a forex license in Seychelles Islands?
Seychelles Forex Brokerage License is an official authorization from the Seychelles regulator FSA to provide forex services legally.
Do forex traders need a license?
Individual traders trading on their accounts do not need a license. For brokerage companies, obtaining a forex license in Seychelles is mandatory.
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