Obtaining a financial license in the Seychelles

• Acceptance of monetary deposits (in the form of demand deposits, term deposits, and others) or other financial funds payable upon request;
• Granting of loans, including but not limited to consumer loans, secured loans, factoring with or without recourse, forfaiting, financing of commercial transactions, and issuance of credit cards;
• Financial leasing;
• Purchase of financial instruments for the institution's own needs and on behalf of clients (including, among others, checks, bills of exchange, certificates of deposit), futures and options related to debt securities or interest rates; currency and interest rate swap instruments; provision of money transfer services; purchase and sale of foreign currency, including futures contracts;
• Issuance and management of payment instruments, including payment cards, checks, and drafts;
• Brokerage services;
• Custody and management of assets, including securities;
• Provision of portfolio management services;
• Creditworthiness assessment and reporting services;
• Other activities related to the performance of the aforementioned functions.

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  1. Certified corporate documents of the company;
  2. Confirmation of the authorized and issued share capital of the company, including paid-up or assigned capital, if it is a branch of a foreign financial institution;
  3. Details of each director, including name, nationality, residency, business, or profession. A detailed description of the director’s qualifications and professional experience must be provided, along with a minimum of three reference letters. Due Diligence documentation must be submitted in accordance with international standards (Footnote 1);
  4. Details of each individual holding a significant interest in the company’s share capital, including name, nationality, residency, business, or profession. At least two references confirming the individual’s financial standing must be provided, along with Due Diligence documentation in accordance with international standards (Footnote 1). If the shareholder is a legal entity, audited financial statements for the last three years and a profit and loss statement must be submitted where applicable;
  5. A list of all shareholders and beneficial owners, specifying their names, addresses, shareholding percentages, and Due Diligence documentation in accordance with international standards (Footnote 1);
  6. A notarized affidavit for directors and shareholders, stating that the individual has no criminal record and is not bankrupt. In the case of a legal entity, the affidavit must confirm that the company is not bankrupt and is not subject to legal proceedings related to insolvency;
  7. A three-year financial projection, if the company is newly established;
  8. A comprehensive business plan;
  9. A contract with auditors, confirming their readiness to provide services to the bank;
  10. A list of companies (if any) in which the applicant is a shareholder, specifying shareholding percentages in those companies;
  11. The location of the principal and other offices, both in Seychelles and abroad, where business activities will be conducted. The location of any mobile offices must also be specified if applicable.
  12. In case the applicant is a foreign financial institution it is required to submit:
      1. Certificate of Appointment indicating the name, nationality, residency, business or profession of the managing agent who may be appointed as a director, manager or whoever to carry on business in Seychelles.
      2. A statement from the Foreign Regulatory Authority which regulates the Applicant in the country of incorporation that it is notified that the Applicant is establishing a branch office in Seychelles and confirm that appropriate controls have been exercised in this regard.
  13. If the applicant is a foreign bank establishing a branch in Seychelles, an additional written commitment must be provided, accompanied by written guarantees and a resolution from the board of directors, confirming that the bank is prepared, upon request from the Central Bank of Seychelles, to provide funds in the currency specified in the request to cover any obligations that may arise in the course of the bank’s operations.
  14. Proof of payment of the government fee for application processing.
  15. Any other information as requested by the Central Bank of Seychelles.

Legal validity and legality of documentation. It is preferable that assurances and references are not older than 3 months according to international standards.