Seychelles Brokerage License | Law&Trust International

Seychelles Brokerage License

The Securities Act of 2007 provides the legal basis for the provision of securities dealer services. Seychelles Securities Dealer License is a license that allows a company to trade securities either as a principal (at its own expense) or as an agent (on behalf of its customers). The regulatory authority that issues the permit for such a company is the Financial Services Authority (FSA).

The specialists of Law and Trust International provide comprehensive legal support at each stage of obtaining a license, and also collect and prepare documents for submission to the Financial Services Authority (FSA).

Seychelles benefits for Securities dealer license 

  1. Seychelles is one of the few jurisdictions where it is possible to obtain a financial license within 90 days.
  2. To obtain a license, it is enough to make 50 thousand US dollars of the authorized capital.
  3. A simple and relatively fast application review process is provided by the Financial Services Authority (FSA).
  4. There are loyal tax laws.
  5.  A high level of confidentiality for business owners is provided.

The license of a securities dealer is a full-fledged trading license and allows you to perform the following types of services:

“Securities” means:

Work in the securities market

Securities brokerage services

Securities transactions

Investment consulting

Portfolio management

Primary shares

Primary debt instruments

Derivatives (futures, options, forwards, contracts, CFDs, and swaps) on any of the following assets: stocks, bonds, metals, commodities, currencies, including cryptocurrency.

Conditions for obtaining a license for brokerage

  • 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.

Seychelles securities dealer license exemption

An application for exemption from the requirement to obtain a securities dealer license may be filed by a securities dealer licensed in accordance with the laws of recognized jurisdiction, which complies with Section 45 (1) (b).

An applicant may be exempted from obtaining a Seychelles securities dealer license if it:

  • is a member of a recognized foreign stock exchange and Seychelles stock exchange;
  • has a stable financial position and a valid license or other permit for operations with securities in accordance with the laws of the recognized jurisdiction.

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