A quick look at the Seychelles Forex License

Seychelles is one of the world’s most sought after jurisdictions among brokers for obtaining a Forex license. Holders of the license can offer their clients FX, CFDs, Futures, and Managed Accounts while defining their own profit shares, spread mark-ups, and commissions. The Seychelles Forex License, also known as the Seychelles Securities Dealer License, is a wise decision for almost any startup Forex business.

Seychelles Forex License Services

The Seychelles Securities Act 2007 created a legal framework where Securities Dealer Services can be offered from the country. The Securities Dealer License allows a company to either trade in securities as a principal, or as an agent on behalf of clients. The regulatory authority that oversees the licensing process and grants authorization to entities is the Financial Services Authority.

The Securities Dealer license is great for international companies that do or want to deal in securities, investments and Forex. Possession of a license is an important tool in order to attract more clients and increase credibility.

How long does it take?

It takes two to four weeks to prepare, collate, and submit the documents for the license application. Once this has been filed, the FSA will process the application and either approve or decline the license in eight to twelve weeks, depending on the FSA’s workload. The set-up of a domestic company takes less than one week and bank accounts can be opened in three to six weeks, depending on various factors.

This quick turn-around is great for startups or those that want to change to a new licensing jurisdiction with minimal interruption to business activities. Also, you don’t have to be physically present in Seychelles to undertake any of these tasks, Fast Offshore can take care of it all.

Benefits of a Seychelles Forex License

Other benefits of the Seychelles Forex License include being able to provide bank-like activities such as creating unique FX or CFD products and taking deposits from clients. There are also no restrictions on the number of clients that can be accepted. 

The minimum required capitalization to open a Seychelles bank account at the time of application is only $50,000. The funds must remain in the account blocked as a security for the FSA until the license is surrendered and the business wound down.

An entity in possession of the Seychelles Securities Dealer License can carry out the following activities:

  • Advise other persons concerning investments in securities
  • Issue, analyze or prepare reports concerning specific securities
  • Manage a portfolio of securities for another person

A Securities Dealer License is allowed to trade in Forex and/or securities either as a Nostro Account or as an agent. The A Securities Dealer may deal in shares, warrants, debentures, loan stock, bonds, certificates of deposits, futures, contract for difference and options.

Fast Offshore

Fast Offshore can execute the whole process for you. We offer tailor-made turn-key packages that relieve the administrative burden. We will provide you with the following services: due diligence and KYC checks, name check at the Registrar of Companies, preparation of application forms, drafting and compiling documentation, review of the application, filing the application with the Seychelles FSA, follow up with the FSA and attend to any queries until the outcome of the application is given by the FSA. Fast Offshore can also provide ongoing maintenance and support, as and when you need it.