Seychelles is committed to building an international financial center in Africa, focusing on offshore financial business, which is under the guidance and supervision of seychelles international business administration.It is characterized by a combination of tax and efficiency structure, close cooperation between regulatory authorities and the private sector, the establishment of international business companies within 24 hours, and the rapid processing of work and residence visas.The main types of business permitted by law include the following: the seychelles financial services authority (FSA), under the administration of the seychelles ministry of finance, formerly known as the international business authority (SIBA), which covers all non-bank financial business.As one of the most internationally regulated government bodies dealing with overseas companies, the FSA is responsible for the approval and supervision of the insurance, securities, finance leasing, gambling and offshore finance industries.
In seychelles, the regulatory authority is the financial services authority (fsa). The relevant type of licence is the securities trader, and the licensee can offer a variety of financial instruments (including stocks, bonds, swaps, option futures and contracts for difference).
Office location requirements are worth mentioning: to have physical office location, to have resident staff.A licensee must employ at least two natural persons as directors and at least one licensed securities consultant or one licensed investment consultant.All licensees are required to purchase professional liability insurance.Every manager in the company must meet the requirements of the appropriate people principle.
In terms of regulatory requirements, there are five minimum liquidity requirements (including cash or other types of assets), but companies must maintain a minimum capital of $50,000 or more.If there is a material change in the company (such as the appointment or dismissal of a director or officer), any disciplinary action, or any change that causes the licensee to cease to operate, the licensee must notify the financial services authority.The company must immediately deposit the customer's funds in a separate bank account after the customer makes the deposit.A licensee is required to maintain records of all payments made from a client's bank account.
The regulator has the power to restrict the nature and scope of a licensee's business, including the type of securities to be offered, to determine whether a licensee may hold client funds, and to require a licensee to obtain and maintain membership in a recognized overseas stock exchange.
Accounting and auditing requirements all licensees are required to maintain reasonable accounting records in accordance with ifrs.All licensees must appoint an auditor within 30 days of obtaining a licence.Foreign auditors must be authorised by the financial services authority.