How to Get Forex License in Seychelles?

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 established 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, which you can also use 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.

Requirements for obtaining a forex broker license in Seychelles are as follows:

• Company Formation: Establish a company in Seychelles with a share capital of $50,000. You must have two directors and two shareholders, each proving professional suitability and ideal reputation.
• Local Office: Maintain a local office in Seychelles.
• Appoint Representatives: Appoint a Seychelles brokerage license representative, regulatory compliance officer, and legal advisor.
• Company Insurance: Obtain company insurance.
• Auditor Appointment: Appoint an auditor approved by the regulator within one month of licensing.
• Financial Reporting: Regularly submit financial reports and undergo auditing.
• State Fees: Timely pay state fees.

The process of obtaining a forex license in Seychelles involves several steps:

• Company Formation: Establish the company at the local Authority with a share capital of $50,000 and a leased local office.
• Corporate Account: Open a corporate account at a local bank for depositing the share capital and future operations.
• Documentation Preparation: Prepare necessary documents, including certified copies of directors' passports, articles of association, proof of office lease, and bank account opening documents.
• Application Form: Fill out the application form provided by the regulator, ensuring all required information is included.
• Submission: Submit the application along with a state fee of $6,300 to the Financial Services Authority (FSA).

If the requirements are not met, the license may be denied, and the state fee is non-refundable. Gofaizen & Sherle can assist in ensuring all requirements are met for a positive response.License Approval: Upon completing the steps correctly, the FSA will approve the license within approximately 3 months, subject to submission of a complete document package. Additional information may be requested by the regulator if necessary.

Documents Required for Forex License in Seychelles

To qualify for the forex brokerage license, the following documents are required for all Directors/Officers, Shareholders, and Beneficial Owners. These documents should not be older than 3 months:

1. Police Clearance Certificate: Ensures no criminal records exist.
2. Declaration of No Bankruptcy History: Affirms no history of bankruptcy.
3. Certified Passport Copy: A certified copy of the passport.
4. Bank Reference Letter: An original or certified copy of a bank reference letter.
5. Professional Reference Letters: Two certified copies of professional reference letters.
6. Utility Bills: An original or certified copy of utility bills.
7. Resume / CV: Outlines experience in Forex Brokerage Activities and qualifications for license issuance.
8. Target Audience and Market Information: Details about the target audience and market.

These documents should be certified and, in some cases, apostilled and translated into English if not originally in English. All documents should be dated within the last three months to ensure relevancy. Seek our professional on-the-ground guidance, contact us via mail at info@radiantbiz.com, WhatsApp us at ‪‪+971 521 322 895‬‬, or call us at ‪‪+971 55 234 7124‬‬!