Step 1 – Company incorporation:

To obtain a license you must first have an incorporated Seychelles business compliant with the regulations of the Seychelles Companies Act. Here what you need to do:
• Select company type and name;
• Prepare documents;
• Submit application to the Registrar of Companies.

Step 2 – License application preparation:

Once you have successfully registered your company, you need to complete the required documents to apply for a Securities Dealer's License with the FSA:
• A cover letter signed by the applicant or the agent of the applicant;
• A completed application form;
• The relevant application fee;
• Certified true copies of the constitutional documents of the applicant;
• Personal questionnaire forms completed by each director, securities dealer representative applicants, compliance officer and key individuals of the application;
• Questionnaire form for shareholders and beneficial owners completed by each shareholder and beneficial owner that holds no management position in the proposed Securities Dealer;
• Audited financial statements of the applicant for the past 2 years except in the case of an applicant who was incorporated within the last 12 months;
• The last audited financial statements of the controlling owners of the applicant if the controlling owner is a non-individual;
• Proof of source of funds or wealth;
• Proof of Physical Place of Office;
• The Representative Licence application form;
• Notice of place at which the Register of Securities is to be kept;
• A written notification from the representative;
• A copy of the insurance quotation of the applicant;
• A detailed business plan;
• Internal operations manual;
• Client service agreement or terms of business;
• Conflict of interest policy;
• Compliance manual;
• Anti – money laundering manual;
• Complaints handling manual;
• Business continuity plan.

Step 3 – Opening a corporate account:

You must have a minimum issued and paid-up capital of $50,000 for the time of the application process for license.

Step 4 – Filling of the application with the FSA:

You must submit application and required documents to the FSA. It also should be accompanied by:

1. For directors, representative, compliance officer and key individuals:

• 1 certified true copy of passport(s);
• 1 recent passport-sized photograph signed at the back by the certifier;
• 1 certified proof of residential address that is not older than three months e.g. utility bill and/or bank statement and/or tenancy agreement;
• 1 original bank reference from each bank with which you are affiliated and/or a report from Credit Rating Agency from country of residence (if available);
• Certified copies of stated higher academic qualifications;
• Certified copies of stated professional qualifications;
• Certified copies of stated membership to professional bodies;
• Detailed job description of your proposed role or position;
• Latest employment references (if applicable);
• A list of directorships, partnerships, other business interests or affiliations (if applicable);
• Original police character reference/certificate not older than 3 months from the country in which the applicant resides or its equivalent;
• Tax clearance certificate from the country in which the applicant resides or its equivalent;
• Politically exposed person self-declaration form.

2. For shareholders and beneficial owners additionally:

• Proof of appointment as nominee e.g. Declaration of Trust, Deed of Indemnity or its equivalent;
• Evidence of source of fund/wealth.

Step 5 – Obtaining the license