Forex License in Seychelles
The Seychelles Securities Act 2007 provides the legal framework for the provision of securities dealer services. A Seychelles Forex License allows your company to trade securities as a principal (for your own account) or as an agent (on behalf of clients).
The regulatory authority is the Financial Services Authority of Seychelles - FSA.
This license is particularly beneficial to companies around the world who deal and/or trade in the area of securities.
The license covers the following activities:
- Issuing your own Managed Account Products;
- Carry out trading on behalf of others etc;
- Collecting Deposit of third parties;
- Offering to trade (self-trading or managed) in Forex or CFD;
- Creation of your own price and fee schemes (managed account fees, profit shares, spreads, mark-ups etc).
The time of approval is 14-18 weeks after successfully submitting all documents to FSA.
In order to apply for a Seychelles Forex License company will have to meet the following requirements:
- Have a local company in Seychelles with a registered capital of $50,000.
- A company must have minimum of 2 directors with relevant experience in securities.
- Have an operating office in Seychelles.
- Hire a local compliance officer.
The advantages of a Seychelles license are the following:
- SDL can provide banking services, such as creating its own FX or CFD-related products and accepting deposits from clients;
- SDL in Seychelles has no limit on the number of clients;
- Low capital requirement / no blocked capital. The required capital to obtain a license is only $50,000. This amount must be kept in a bank account in Seychelles (e.g. with local lawyers) and can be withdrawn as soon as the license is issued. It can also be used for company formation, infrastructure activities, etc;
- The company is allowed to publicly offer its FX services on its website, etc.
The process of obtaining a license are the following:
- Due Diligence and KYC checks;
- Checking of the name in the registry;
- Questionnaire preparation for the company;
- Company registration;
- Once the application is ready, we will submit it to the Seychelles FSA;
- Communication with FSA.