The Seychelles Securities Act, 2007 governs the conduct of securities business activities in the country and is responsible for the creation of a suitable regulatory environment for one of the world’s emerging offshore financial centres.
Key Features
A Securities Dealer as per the definition of the Securities Act, 2007 is:
- Who carries on the business of dealing in securities, or
- Who holds himself out as conducting such business described below:
- 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 affects 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 the margin, instalment or otherwise or any attempt to do any of the foregoing
- Participates as a securities dealer in any transaction in 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
The Authority may decide to grant a Restricted Securities Dealer Licence to an applicant setting certain conditions. An overseas securities dealer from a recognised jurisdiction may also be exempted from the licensing requirement if an applicant holds current membership to deal on a Seychelles Securities Exchange.
Key Features
Requirements | Description |
General | |
Corporate vehicle permitted | Seychelles Domestic Company |
License application fee | |
Representative application fee | |
Annual license fee | |
Representative license fee | |
Physical office in Seychelles | Yes |
Share capital or equivalent | |
Minimum paid up capital | |
Directors | |
Minimum number | 2 |
Corporate directorship allowed | Yes |
Local director required | No |
Shareholders | |
Minimum number | 2 |
Corporate shareholder allowed | Yes |
Local shareholder required | No |
Company secretary | |
Required | Yes |
Tax Treatment
The Business Tax Act does not apply to licensed and exempt funds unless the licensed fund is a company under the Companies (Special Licence) Act, 2003, in which case a tax rate of 1.5% will be applicable on the income of the fund.
No withholding tax is payable on dividends and/or interest payable.
Duration to Set Up
Around 3 months
Distinctive Benefits of Licence
- Ease and speed of establishment
- Flexible structuring of the entity
- Favourable compliance restrictions
- Friendly regulatory environment
- A mutual fund in Seychelles can be administered by a Seychelles Licensed fund administrator or an approved foreign administrator domiciled outside Seychelles.
Why AAA Management services
- End to end comprehensive service
- Speedy and efficient service
- Expert advice on structuring options
- Dedicated ongoing compliance support
- Extensive network pool of service providers