Finjuris provides end-to-end legal and regulatory support for securing your Seychelles Securities Dealer Licence — a home to 190+ licensed dealers in 2026, offering FSA regulation and a tax-efficient structure without the capital and lead time of a Tier-1 onshore licence.
In the market it is called a “forex license,” but the correct legal instrument is the Securities Dealer Licence (SDL), issued by the Seychelles Financial Services Authority (FSA) under the Securities Act 2007. Forex (spot and rolling spot), CFDs, futures, options, other derivatives and equities all fall within the SDL’s securities-dealing perimeter — which is why a forex or CFD brokerage is licensed under this regime.
The FSA, established under the Financial Services Authority Act 2013, licenses and supervises all non-bank financial services in the jurisdiction, including securities dealers. It is an established statutory regulator; an SDL carries real standing with banks, liquidity providers and clients.
Seychelles has tightened its regime while keeping it commercially attractive. Applications prepared against the old rules are a frequent cause of delay and rejection.
Minimum paid-up capital for Securities Dealers rose from USD 50,000 to USD 100,000. The FSA may require USD 250,000+ for higher-risk business models. Applications still citing USD 50,000 are out of date.
Since January 2025 the annual one-year licence cycle is gone. Licences are now valid indefinitely unless suspended, revoked or surrendered, subject to the annual fee and Licence Renewal Compliance Certificate.
At least two full-time, fit-and-proper persons must be based in Seychelles. Existing licensees had until 30 June 2026 to comply. New applicants must meet this from the outset.
The FSA confirmed in February 2025 that crypto-CFDs are permitted under the SDL without a separate VASP licence. Dealing in the underlying crypto-assets themselves requires the separate VASP Act 2024 route.
Minimum capital of USD 100,000 is far below EU, UK or Australian equivalents, and the deposited capital remains with your company as working capital, not a regulatory fee.
The FSA is an established statutory regulator; an SDL carries real standing with banks, liquidity providers and institutional clients.
Forex, equities, CFDs, futures, options, OTC derivatives and crypto-CFDs all permitted under a single licence — no need for multiple authorisations.
The SDL remains valid indefinitely (since January 2025) unless suspended, revoked or surrendered, reducing the administrative burden of annual renewal cycles.
No Seychellois shareholder required; the company can be owned and ultimately controlled by non-residents.
A complete application is typically processed in months — not the year-plus often seen with CySEC, FCA or ASIC — while still carrying genuine regulatory standing.
Depending on the permissions granted, an SDL can support a broad range of regulated activities:
The FSA expects a properly constituted Seychelles company with real substance and a complete, well-evidenced application. The table below sets out the current core requirements under the 2024 amendments.
| Requirement | Specification | Why It Matters |
|---|---|---|
| Local Company | A Seychelles company (commonly an IBC) with a registered office and registered agent in Seychelles. | Only a licensed Seychelles entity may hold an SDL. |
| Minimum Paid-Up Capital | USD 100,000 (raised from USD 50,000 under the 2024 amendments). The FSA may require USD 250,000+ for higher-risk models. | Held in a qualifying bank account as the company’s working capital — not a fee paid to the regulator. |
| Resident Personnel | At least two full-time, fit-and-proper persons based in Seychelles (e.g. directors, compliance or managerial staff). | A 2024 requirement establishing genuine local presence and oversight. |
| Control Functions | A qualified Compliance Officer and an MLRO; a locally licensed auditor. | Mandatory for FSA supervision and AML/CFT compliance. |
| Fit-and-Proper Testing | Clean records, relevant experience and integrity for directors, dealer representatives, the compliance officer, shareholders and beneficial owners. | The FSA assesses every controller before licensing. |
| Professional Indemnity Insurance | Adequate PII cover appropriate to the business. | Investor-protection and conduct requirement. |
| Capital Adequacy (ICAAP) | Ongoing Internal Capital Adequacy Assessment Process and annual audited financial statements. | Demonstrates continued financial resilience post-licensing. |
| AML/CFT Framework | Full programme aligned with the AML/CFT Act 2020: CDD/EDD, transaction monitoring, sanctions screening, suspicious-activity reporting, record-keeping. | Non-negotiable for the FSA and for bank onboarding. |
| Business Documentation | Detailed business plan and financial projections, business continuity plan, operations manual, conflict-of-interest and complaints policies, client agreement. | Demonstrates commercial viability and operational readiness. |
| Due-Diligence Pack | Certified passports, proof of address, source-of-funds evidence, CVs and Personal Questionnaire Forms for all key persons and owners. | Identity and source-of-wealth verification. |
| Item | Indicative Amount | Notes |
|---|---|---|
| Minimum Paid-Up Capital | USD 100,000 | Retained as company working capital; higher for elevated-risk models (up to USD 250,000+). |
| Application / Processing Fee | ~USD 1,500 | Payable to the FSA on submission of the SDL application. |
| Annual Licence Fee | USD 6,000 | Due by 31 January each year with a signed Licence Renewal Compliance Certificate. |
| Annual Dealer Representative Fee | USD 750 | Payable for each licensed dealing representative. |
Fees and capital thresholds are set by the FSA and subject to change; figures should be confirmed against the current FSA schedule at the time of application. Finjuris will provide a precise, project-specific cost breakdown.
The FSA’s stated review target is 30 working days for a fully complete application, but realistic end-to-end timing — including incorporation, capital and substance — is typically three to six months, depending on complexity and FSA queries.
| Tax / Item | Rate | Notes |
|---|---|---|
| Business Tax (SDL holders) | 1.5% | Applied to worldwide taxable income for licensed Securities Dealers. Requires strict local substance. |
| Foreign-Source Income | 0% | Generally outside scope under the territorial system. Exemptions apply only if Economic Substance Act criteria are fully met. |
| Capital Gains Tax | 0% | No tax on the liquidation of corporate assets or transfer of company shares. |
| Withholding Tax (Dividends / Interest) | 0% | Zero tax on outward corporate distributions to non-resident shareholders. |
| Mandatory Substance | Required | Physical onshore office, local operational spend and resident staff (Compliance Officer and MLRO). |
| Annual Audit & Filing | Required | IFRS-compliant financial statements, audited by a local independent auditor within 4 months of year-end. |
The headline 1.5% business tax rate applies to licensed Securities Dealers — not to all Seychelles companies. It requires genuine local substance under the Economic Substance Act 2021. The older “Companies (Special Licence)” regime that some guides cite has been largely grandfathered and is not reliably available to new applicants. Finjuris structures your operation so the tax position is real and defensible.
This is general information, not tax advice. Outcomes depend on your specific facts and the rules in force at the time; obtain tailored advice before relying on any figure.
Legal structuring, incorporation, capital, licensing, substance, AML/CFT framework and banking delivered as one coordinated workstream.
We apply the regime as it stands today: USD 100,000 capital, perpetual licensing, resident-personnel requirements and the 2025 crypto-CFD confirmation.
We build operations that withstand scrutiny from regulators, banks and investors — including a tax position grounded in real substance, not assumed.
With experience across multiple jurisdictions, we help you choose the right base — not just Seychelles because it’s in front of you.
Tell us about your project and our regulatory team will assess the right licence, structure and timeline for your brokerage — with the current FSA framework correctly applied and a single point of contact from first call to launch.
