FSA Grade D

License Requires

Fintech

1. Providing, applying financial products
2. Arranging and issuing financial
3. Require details its corporate governance structure

Broker

1. Be incorporated in Seychelles;
2. Be licensed in accordance with the licensing requirements;
3. Meet the minimum net worth requirements (US $50,000) for a securities dealer license;
4. Have two directors (which may be non-residents);
5. Employs at least one individual who is licensed as a representative under the Securities Act 2007
6. The company must rent premises in Seychelles for keeping records or other documents.
7. The MLRO must be Seychelles resident
8. No restrictions on leverage, PAMM/MAM accounts, or IBs

Insurance

1. Minimum paid up 100,000$

Documents require

For Fintech

1. The application form completed in full;
2. The application fee as prescribed;
3. Business plan (if applicable);
4. Risk management (if applicable);
5. Corporate governance structure of the applicant (if applicable);
6. Organisation structure of the applicant (if applicable);
7. Certified true copy of current valid licence or other authorisation to conduct such business under the laws of a recognised 8.jurisdiction if the applicant is operating outside of Seychelles (if applicable);
8. Exit strategy / plan (if applicable).

For Brokers

1. Certified passport copy and Passport photos
2. Certified utility bill in English issued within the last month
3. Certified academic & professional certificates and CV
4. Police Criminal Certificate & Tax Compliance Certificate
5. Bank statement confirming US$ 50,000 deposit

For Insurance

1. A completed application form
2. Certified true copies of the Certificate of Incorporation
3. Certified true copies of the constitutional documents of the applicant
4. Personal Questionnaire
5. Questionnaire Forms for Shareholders and Beneficial Owners completed
6. The last audited/forecasted financial statements of the applicant and Annual Actuarial
7. Valuations
8. Proof of source of funds or wealth
9. Letter of appointment of the Company Secretary and/or Principal Insurance
10. Representative
11. Board Resolution in respect of the appointment of Company Secretary and/or Principal
12. Insurance Representative (as applicable)
13. A detailed Business Plan of the applicant’s proposed business and operations
14. A business plan or a feasibility study conducted
15. Evidence that the proposed Auditors/Actuary have agreed to the appointment
16. A copy of any agreement between the applicant and any proposed insurance
17. broker(s)/agent(s)/sub‐agent(s) or service companies
18. Any other agreements, manuals or policies required
19. Business Continuity Plan
20. The relevant application fee (refer to Paragraph 3.3) payable by; banker’s cheque and Swift Transfer

International trade zone

1. A cover letter1
2. A completed Application Form
3. The relevant processing fee2
4. Personal Questionnaire completed by each director
5. Questionnaire form for Shareholders and Beneficial Owners completed by each shareholder
6. and beneficial owner of the applicant
7. Contract of Employment
8. Localisation plan after the first year of operation
9. A detailed Business Plan

Hire Purchase and credit sale

In the case where the applicant is a company:

1. A certified copy of the Certificate of Incorporation
2. Memorandum and Articles of Association
3. Business License
4. Personal Questionnaire forms completed by all directors, managerial staff and beneficial
5. owners of the company
6. Procedure manual
7. Compliance manual
8. Complaint handling manual

In the case where the applicant is a partnership:

1. A copy of the Partnership Registration
2. Business License
3. Personal Questionnaire forms completed by all partners and beneficial owners of the
4. partnership.
5. Procedure manual
6. Compliance manual
7. Complaint handling manual

In the case where the applicant is a sole trader:

1. A copy of the Business License
2. The completed Personal Questionnaire form.
3. Procedure manual
4. Compliance manual
5. Complaint handling manual

Gambling

1. A certified copy of the Certificate of Incorporation
2. Memorandum and Articles of Association
3. Business License
4. Personal Questionnaire forms completed by all directors and beneficial
5. owners of the company