Incorporation of a company in Seychelles with a Securities Dealer Licence. Service offer

A Securities Dealer Licence (SDL) must be obtained in Seychelles if a person:

• makes or offers to make an agreement with another person to enter into or offer to enter into an agreement, for or with a view to acquiring, disposing of, subscribing for or underwriting securities or in any way effects or causes to effect a securities transaction;
• causes any sale or disposition of or other dealing or any solicitation in respect of securities for valuable consideration, whether the terms of payment be on margin, instalment or otherwise or any attempt to do any of the foregoing, participates as a securities dealer in any transaction in a security occurring upon a securities exchange;
• receives as a securities dealer an order to buy or sell a security which is executed;
• manages a portfolio of securities for another person on terms under which the first mentioned person may hold property of the other person.

This licenсe does not give the right to make spot forex transactions as they are subject to regulation by the Central Bank of Seychelles.

By default the licensing procedure implies the issue of two types of licenсes:

1. principal licenсe (Securities Dealer Licenсe) in the name of the company;
2. licenсe in the name of the company’s representative (Securities Dealer Representative Licenсe).

A Representative may be the company’s director, shareholder or manager, including those not shown in its corporate documents. Normally the company’s director is appointed for this purpose. The company must have a person appointed to be responsible for the KYC and AML procedures.

A company applying for a licence must meet the following requirements:

• the company must have at least 2 directors (only individuals having proper qualifications and experience in finance or investments);
• one of the directors must be a local resident person who is employed on a full-time basis;
• the company must have at least 2 shareholders (individuals or legal entities);
• the company must have a secretary;
• the company must have an office in Seychelles and local employees, including a person responsible for the AML / KYC procedures;
• the company’s minimum share capital must be USD 100 000 maintained at all times in a local Seychelles bank or in a jurisdiction recognized and approved by the Financial Services Authority (FSA).

A Representative (this may be one of the directors or the shareholder) must meet the following requirements:

Minimum academic/professional qualification:

• a bachelor’s or higher degree in Economics, Accounting, or Business related subjects; or
• a recognized professional qualification from an accredited institution (e.g. a Diploma in Investment Operations from the Chartered Institute for Securities and Investment, or a Diploma in Capital Markets from the Chartered Institute for Securities and Investment).

Minimum work experience:

• a minimum of 2 years of experience working in the securities industry as a representative; or
• a minimum of 2 years of experience working in the securities industry.

For each director and shareholder:

• passport (original or notarized copy);
• document confirming residential address (utility bill or bank statement, not older than 3 months);
• resume;
• documents confirming director’s qualifications (diplomas, certificates, etc.);
• special Personal Questionnaire Form containing director’s / shareholder’s data.

For the representative (additionally):

• passport copy must be notarized;
• police certificate / no criminal record certificate.

After the company has been incorporated, the FSA is provided with copies of the company’s founding documents and:

• Completed licence application forms for the company and its representative;
• Personal Questionnaire Form containing directors and shareholders’ data;
• Copy of the applicant’s liability insurance policy*;
• Letters from an auditor, law firm and bank confirming that they are ready to provide the applicant with their services after the issue of a licence;
• Information on the location of the applicant’s local office;
• Proof of payment of the licence application fee (the amount of the fee is USD 1 250).

*The cost of obtaining an insurance policy needs to be additionally explored considering estimated annual turnover of the company.

The FSA is also provided with documents confirming qualifications of the company’s directors and the fit and proper status in respect of each director and shareholder.

The licence application fees are:

• USD 3 000 – Securities Dealer Licence; subsequently the licence renewal fee will be USD 6 000 per year.
• USD 500 – Securities Dealer Representative Licence; subsequently the licence renewal fee will be USD 750 per year.

*The fees are regularly reviewed and increased.

A company that has obtained a Securities Dealer Licence must annually prepare and file audited accounts with the FSA.

As a company with a licence must have an office and employees in Seychelles, the tax status of such company should be considered separately. It may require advice of our specialists in international taxation.

The minimum salary in Seychelles is SCR 5 250* per month (~ USD 360), and both the employer and the employee must monthly transfer 3% of the salary to the social security fund. The employer must also withhold and transfer to the budget the personal income tax on the salary at the following rates:

*The average rate is 0.074 USD per 1 SCR.

In order to pay fees and taxes, a tax number must be obtained for a Seychellois company. The cost of obtaining a tax number is USD 275.

The cost of services for filing a statement in respect of payroll taxes and fees is USD 175 per month for 1 employee.

We can also provide services for finding an employee with certain qualifications. The cost of services for staff recruitment and employment of a worker by a Seychellois company (searching for employee, providing resumes of candidates to choose from and holding 3 interviews at most, preparation of employment contract) is:

• for ordinary employees – one monthly salary;
• for managers – two monthly salaries.

Telephone line services include:

• installation of a telephone line with an individual telephone number – USD 550;
• annual payment – USD 1 500;
• paid separately: per minute billing, call forwarding to other countries (minute tariff, paid once a month); it is possible to make a payment for a quarter or a year by transferring a deposit payment – the minimum amount of such a payment is USD 250.

Our assistance for office selection services is from USD 2 500 / month.

Renting a small office on average is from USD 1 000 to USD 1 700 per month.

*The fees are valid as of February 2025.