Seychelles Brokerage License

List

• Requirements for the director
  Licensees will need at least 2 individual directors from any jurisdiction who will convince the Financial Services Authority (FSA) that they have enough experience and competence to obtain a license.

• Requirements for shareholders
  The licensee will need at least 2 shareholders, legal entities-shareholders are possible.

• Minimum capital requirements
  The current established minimum required capital is $ 50,000.

• Representative office
  The Financial Services Authority (FSA) will not grant a license to a securities dealer until the applicant hires at least one individual who has a representative license in accordance with Section 52 of the Law. A securities dealer representative is an individual who works or acts on behalf of or in agreement with a securities dealer, who works with securities on behalf of this securities trader, regardless of whether he receives a salary, interest, commission, etc.

• Auditor's current liabilities
  A securities dealer must submit its accounts to the auditor every year. The auditor must be a member and have a good reputation as an accounting authority in accordance with Section 2 (1) (a) of the Law or as a member of any other accounting authority approved by the government.

  The Licensee must appoint an Auditor within 30 days after receiving the license in accordance with the Law, which is acceptable for the Securities Authority. The director, employee, shareholder or partner of the licensee, or the partner or employee of such a person is not eligible for appointment as an auditor.

• Annual reports
  A licensed securities dealer must review its accounts annually in accordance with International Financial Reporting Standards. Both the licensed securities dealer and the exempted securities dealer must submit their audited accounts to the Authority within 4 months after the end of each financial year or during the extended period authorized by the Authority.

• Tax liabilities and benefits
  Appendix 3 of the Law provides benefits and concessions as applicable to certain legislative acts.

Documents for obtaining a Seychelles securities dealer license

• A completed application form;
• Receipt of payment of the corresponding registration fee (1000 US dollars);
• Certified copies of the constituent documents of the applicant (Memorandum and Articles of Association, Certificate of Registration, Certificate of Good Condition);
• The audited financial statements of the applicant for the last 2 years, if the applicant has not been registered in the past 12 months;
• A personal questionnaire filled out by each director, senior official, individual shareholder and beneficial owner of the applicant (if the relevant party is listed on the stock exchange in recognized jurisdiction, personal profiles are not required);
• The latest audited financial statements of the controlling owners of the applicant, if the controlling owner is not an individual;
• Application form for a license representative;
• Notice of the place of storage of the Register of Securities in accordance with Section 80 (2) (a) of the Law “On Securities” of 2007 and Appendix 1, Form 6 of the Regulation “On Securities (Forms and Fees)” of 2008;
• Written notification of the representative in accordance with section 53 of the Securities Act 2007;
• A copy of the insurance policy (corresponding to the proposed nature and size of the business) of the applicant.