In view of recent trends and the focus on transparency in financial services in America and Europe, more and more requirements are placed on corporations that are engaged in financial activities. However, not all beginner brokers can afford an expensive license with an impressive annual subscription fee. Therefore, the Seychelles are more and more popular nowadays.
The main advantages of a forex license in the Seychelles are the low costs of registering a company and maintaining an office.
The authorized capital is much more low in comparison to others. It is enough to have 50,000 US dollars in the company’s account. But the procedure is not complicated, and the amount of the extension is small.
The requirements for documents are simple and clear, the commission does not ask the client additional questions that increase the consideration period. The government is very loyal to foreign investors and startups, showing condescension towards applicants.
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What is a forex license in the Seychelles?
The license is basically a special permit for traders. The state regulator controls the activities of market operators based on the 2007 Securities Law. All the companies in the country for their work must have a certificate.
Also, the undeniable advantages of Seychelles forex license are:
- the ability to officially offer their services on their web resources;
- performing an operation with a bank to create your own Forex product;
- unlimited number of clients;
- use by clients of their IBAN and SWIFT;
- use of initial capital for your company (organization structuring, infrastructure development, etc.).
However, those organizations located on the territory of the islands, the actual management of which is carried out from another jurisdiction, may well do without the permission of the dealer. This paragraph also applies to those firms that do not work with residents of the islands.
Why are there so many forex licenses in the Seychelles?
The state has created attractive conditions for traders and brokers around the world. Paperwork is simple and fees are low. Therefore, many organizations choose a country to register a business and start their activities.
A stable socio-economic environment is a good basis for doing international business. The Seychelles are gaining momentum in popularity among forex brokers as the Seychelles brokerage license allows legal purchase, sale and trading of securities.
The activities of companies are protected by law. The Financial Supervision Authority processes license applications fairly quickly and flexibly exercises further supervision over the work of the permit holder company.
The process of obtaining a forex license in the Seychelles
For legal entities and individuals, the procedure for obtaining a permit will be different. Usually, all the necessary documents can be prepared in a month and a half.
- First, you need to register a local company.
- Fill in the application and make deposit of the authorized capital into a bank account.
- Also, simultaneously with the application, it is necessary to pay a one-time non-refundable state fee in the amount of 500 to 3000 US dollars.
- After that, the administration of financial services will check the entire package of documents and, if everything is in order, will issue a permit.
We draw your attention to the fact that when applying for licensing of brokerage activities, it is important:
- register a company in the Seychelles. At the same time, at least 2 shareholders and 2 managers are required.
- ensure the availability of authorized capital in the amount of 50,000 USD.
- apply to the Seychelles Financial Services Authority for a license.
- open a corporate bank account and deposit the authorized capital.
