General Questions

What is the role of the Financial Services Authority?

The Seychelles Financial Services Authority (“FSA”) is the regulator for non-bank financial services in the Seychelles. Established under the Financial Services Authority Act, 2013 (“FSA Act”), the FSA is responsible for the licensing, supervision of persons in and development of the non-bank financial services industry of the Seychelles. The FSA is also responsible for the registration of International Business Companies, Foundations, Limited Partnerships, and International Trusts in the Seychelles.

Registry

What are the types of licences issued under the ICSP Act?

The following licenses are issued under the ICSP Act:

  • International Corporate Services Licence
  • International Trustee Services Licence
  • Foundation Services Licence

Insurance Sector

For a general insurance plus a long term insurance licence, what should be the minimum paid up capital?

US$100,000 or its equivalent in a currency that is fully convertible to other internationally accepted currency.

Gambling

Which sectors of the gambling industry does the FSA supervise?

The FSA is mandated to administer the Seychelles Gambling Act, 2014 (SGA), through which it licences, regulates and supervises casinos, slot machines and interactive gambling activities in the Seychelles. The other aspects of the gambling industry such as lottery and games of chance remain under the purview of the Seychelles Licensing Authority.

Capital Markets and Collective Investment Schemes

Does the FSA issue spot forex?

The FSA does not supervise or regulate the foreign exchange market. This falls under the purview of the Central Bank of Seychelles.