Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSA decision, including banking and payment rails.
Get a forex license in the Seychelles.
The offshore market's default forex licence: the Securities Dealer Licence from the Seychelles FSA under the Securities Act 2007 - US$50,000 issued and paid-up capital, US$1,500 application and US$3,000 annual fees, and a permission global retail brokers have built on for a decade. Real requirements, priced without padding.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Seychelles in brief
The workhorse licence of global retail FX.
The Seychelles licenses forex brokerage through the Securities Dealer Licence - the Financial Services Authority's permission under the Securities Act 2007 to deal in securities, which the Act defines to include derivatives and the instruments a retail FX and CFD broker actually offers. The entry maths is the draw: US$50,000 minimum issued and paid-up capital, a US$1,500 application fee and US$3,000 annual licence fee, with dealer representatives licensed alongside at US$500 and US$750. What the maths no longer buys is a brass-plate: the FSA has tightened steadily - fit-and-proper directors, a real business plan, compliance arrangements and local presence expectations are all part of a passing file, and the register is policed.
Where it fits: the SDL is the default licence of the global-retail tier - brokers serving Asia, Africa, LatAm and the Middle East on flexible leverage, with the EU, UK and other ring-fenced retail markets served by sister entities licensed onshore. Payment rails and liquidity relationships for Seychelles dealers are established practice, and the one-jurisdiction-two-licence group (an SDL plus a MiFID or ASIC entity) is the industry's standard architecture. We build the Seychelles end completely - company, capital, file, FSA rounds, and structure the group cleanly around what an SDL can and cannot carry.
FSA Securities Dealer Licence under the Securities Act 2007: US$50,000 paid-up capital, US$1,500 application / US$3,000 annual, licensed representatives (US$500/US$750), fit-and-proper directors and real compliance - the global-retail default licence.
No EU/UK retail - the SDL carries the global book, usually beside an onshore licence. We build both ends.
The two routes
The securities dealer - and the group around it.
One licence, two builds: the standalone SDL for the global book, or the SDL as the offshore engine inside a multi-licence group. We fix the architecture first, then build once.
The standalone SDL - or the offshore engine in a two-licence group.
01 - SECURITIES DEALER LICENCE
The standalone dealer
The full FSA permission: dealing in securities and derivatives for a global client book. US$50,000 capital, licensed representatives, compliance arrangements and the FSA's file rounds handled end to end.
The full FSA permission: dealing in securities and derivatives for a global client book. US$50,000 capital, licensed representatives, compliance arrangements and the FSA's file rounds handled end to end.
- ✓Dealing in securities and derivatives
- ✓US$50,000 issued and paid-up capital
- ✓US$1,500 application · US$3,000 annual
- ✓Licensed dealer representatives
- ✓Fit-and-proper directors, real business plan
- ✓The global-retail default licence
02 - THE GROUP ARCHITECTURE
SDL + onshore licenceThe two-licence group
The industry-standard structure: a Seychelles SDL carrying the global book beside a MiFID, FCA or ASIC entity for ring-fenced markets. Flow routed cleanly, banking and liquidity shared, one brand.
SDL for the global book beside a MiFID/FCA/ASIC entity; clean routing, shared liquidity, group banking. Both ends built by us.
- ✓SDL for the global-retail book
- ✓Onshore licence for regulated retail
- ✓Clean client routing between entities
- ✓Shared liquidity and technology
- ✓Group banking architecture
- ✓We build and sequence both ends
Costs and timelines are confirmed for your case before any work begins. FSA fees follow its published schedule; capital, representatives and substance costs are itemised in your quote.
Why the Seychelles
Priced for entry, proven at scale.
The SDL survives because it balances cost against credibility better than any licence in its tier.
✓
US$50,000 entry capital
The minimum capital is working capital, not a wall. The licence prices entry where a serious startup actually is.Capital, not a wall.
✓
Published, modest fees
US$1,500 to apply, US$3,000 a year. The FSA's schedule is public, flat and predictable across the licence's life.US$1.5k + US$3k/year.
✓
A decade of market proof
Global retail brokers have operated on Seychelles licences for years. PSPs, liquidity desks and tech vendors price the SDL as known territory.A decade of brokers.
✓
Flexible product terms
Leverage and product scope for the global book are set by the dealer's own risk framework, not a statutory retail cap. With conduct duties still real.Risk-framework leverage.
✓
An FSA that answers
The regulator publishes forms, fees and service standards, and processes files on a known rhythm. Offshore does not mean opaque.Published, predictable.
✓
Group-ready by design
The SDL slots into multi-licence groups cleanly. The standard offshore engine beside MiFID, FCA or ASIC entities.The standard engine.
How it compares
How the Seychelles differs from other routes.
The comparison, side by side: the strongest price-to-proof ratio in the offshore tier. With no ring-fenced-market access.
Seychelles vs other jurisdictions
| Feature |  Seychelles | Other jurisdictions |
|---|---|---|
| Regime | Securities Act 2007 - FSA SDL | MiFID desks or offshore |
| Capital | US$50,000 | US$0-2M spread |
| EU/UK retail | No - global book only | Yes on onshore licences |
| Timeline | 3-6 months | 6-15 months onshore |
Regime
SeychellesSecurities Act 2007 - FSA SDL
Other jurisdictionsMiFID desks or offshore
Capital
SeychellesUS$50,000
Other jurisdictionsUS$0-2M spread
EU/UK retail
SeychellesNo - global book only
Other jurisdictionsYes on onshore licences
Timeline
Seychelles3-6 months
Other jurisdictions6-15 months onshore
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Seychelles | FSA Securities Dealer | 15%/25% · source-based | US$50k capital, fit-and-proper |
 Mauritius | FSC Investment Dealer | 15% · 3% effective | MUR 1M, 2 local officers |
 Vanuatu | VFSC Financial Dealer | No corporate income tax | VT 5M deposit, ~3-week processing |
 Belize | FSC licence | Territorial | Capital + substance rules |
SeychellesLicense typeFSA Securities Dealer
Taxation15%/25% · source-based
RequirementsUS$50k capital, fit-and-proper
MauritiusLicense typeFSC Investment Dealer
Taxation15% · 3% effective
RequirementsMUR 1M, 2 local officers
VanuatuLicense typeVFSC Financial Dealer
TaxationNo corporate income tax
RequirementsVT 5M deposit, ~3-week processing
BelizeLicense typeFSC licence
TaxationTerritorial
RequirementsCapital + substance rules
Before you apply
Requirements for the Seychelles SDL.Requirements for the SDL.
The FSA licenses prepared applicants and polices its register. The checklist below is what a passing file contains.
01
Seychelles company. Incorporated for securities dealing with the FSA's approval of its structure.
02
Minimum capital. US$50,000 issued and paid up, evidenced at licensing.
03
Fit-and-proper directors and shareholders. Clean records, CVs and references, disclosed to UBO level.
04
Licensed representatives. The individuals who deal, each licensed by the FSA (US$500 application, US$750 annual).
05
Business plan. The dealing model, target markets and three-year financials the FSA can interrogate.
06
Compliance arrangements. A compliance function, manuals and monitoring proportionate to the model.
07
Client money handling. Segregation arrangements and the banking architecture documented before launch.
08
Risk disclosure and conduct. Client agreements, risk warnings and complaint handling in place.
09
AML/CFT framework. KYC, screening and reporting under Seychelles AML law, with a named officer.
10
Local presence. Registered office and the operational footprint the FSA's current practice expects.
01
Seychelles company, approved.
02
US$50,000 paid-up capital.
03
Fit-and-proper to UBO.
04
Licensed representatives.
05
Interrogable business plan.
06
Compliance arrangements.
07
Client money architecture.
08
Conduct and disclosure set.
09
AML with named officer.
10
Real local footprint.
Reflects the Securities Act 2007 and FSA practice as of 2026. Fees per the FSA's published schedule.Securities Act 2007 + FSA practice, as of 2026.
How it works
From first call to the FSA register.
01
Architecture and strategy
Standalone SDL or group build, target markets and banking plan. Fixed in writing before any drafting.SDL alone or group - fixed.
02
Company and capital
Seychelles incorporation, US$50,000 capital evidenced and the directors' fit-and-proper file assembled.US$50k evidenced, people filed.
03
The application file
Business plan, compliance arrangements, representative applications. Complete at filing with the US$1,500 fee.Complete, with US$1,500 fee.
04
FSA review
Question rounds answered on the FSA's service rhythm - 3-6 months realistic end to end.3-6 months realistic.
05
Licence and launch
Register entry, US$3,000 annual fee on calendar, banking and liquidity live. The global book opens.Banking on, book opens.
Quick facts
RegulatorFSA Seychelles
FrameworkSecurities Act 2007
Minimum capitalUS$50,000
Application feeUS$1,500
Annual feeUS$3,000
Representative feesUS$500 / US$750
Realistic timeline3-6 months
EU/UK retailNot covered
The FSA licenses prepared files and polices its register. Arriving complete is the schedule strategy, and our job.
On the ground in the Seychelles
Run from our Victoria office.
Prifinance - Seychelles
Victoria · Seychelles
Victoria, Mahé, Seychelles
01
Seychelles company formation
Incorporation, capital structuring and the corporate layer the FSA expects. Built for the licence from day one.Built for the licence.
02
The FSA file
Business plan, compliance manuals, representative applications and the full dossier. Drafted end to end and defended through the rounds.Drafted and defended.
03
Representatives and people
Dealer representatives prepared and licensed alongside the company. The people file run as its own workstream.Licensed in parallel.
04
Banking and PSP rails
Introductions to the banks, PSPs and liquidity providers that work with Seychelles dealers daily. Sequenced with the licence.Known-territory rails.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
Dubai
UAE
33 Level, Al Saqr Business Tower
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of forex brokers in the Seychelles.
Source-based business tax with modest domestic rates, and post-2021 substance rules planned properly from day one.
Business tax 15% / 25%
Seychelles-source taxable income is charged at 15% on the first SCR 1,000,000 and 25% above. The domestic schedule, flat and published.Domestic schedule.
Source-based system
The regime taxes Seychelles-source income; the 2021 reforms added substance tests for foreign passive income of covered companies. The structure is planned around them, not against them.2021 substance planned in.
No capital gains tax
Seychelles levies no separate capital gains tax. Disposals and restructurings stay clean.Clean exits.
VAT 15%
The standard VAT rate applies to domestic supplies. The dealing book of an international broker sits largely outside it.Domestic supplies only.
Predictable licence costs
The US$3,000 annual fee and published schedule make the licence's running cost a line item, not a variable.US$3,000/year.
Substance as strategy
Real presence in Victoria satisfies both the FSA and the post-2021 tax tests. One investment serving two masters.One spend, two masters.
Tax summary
Business tax15% / 25%
SystemSource-based · substance rules
Capital gains taxNone
VAT15% domestic
Annual licence feeUS$3,000
*Figures as of 2026 per the Seychelles Revenue Commission and FSA. Group and founder-level outcomes are modelled per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Seychelles company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed dealer.
Follow Prifinance
Active across our channels.
Seychelles · FSA
Launch your forex project in the Seychelles with expert support.
Full-service assistance - from incorporation to the Securities Dealer Licence, representatives, banking and ongoing compliance - run through our Victoria office.
Get a consultation →Free legal opinion
Is the Seychelles the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Seychelles forex licence - what clients ask.
What licence does a forex broker need in the Seychelles?+
The Securities Dealer Licence from the Financial Services Authority under the Securities Act 2007 - the Act's definition of securities covers the derivatives and instruments a retail FX/CFD broker offers, and dealing individuals are licensed as securities dealer representatives.
What capital is required?+
US$50,000 minimum issued and paid-up capital - evidenced at licensing and maintained. It is working capital for the business, not a locked deposit.
What does the licence cost?+
Per the FSA's published schedule: US$1,500 application fee and US$3,000 annual licence fee for the dealer, plus US$500 application and US$750 annual per licensed representative.
How long does licensing take?+
Realistically 3-6 months end to end including company formation, the fit-and-proper file and the FSA's question rounds - arriving complete is the main speed lever.
Can an SDL serve EU, UK or US retail clients?+
No - ring-fenced retail markets require their own licences. The SDL carries the global book (Asia, Africa, LatAm, Middle East); groups serve regulated markets through sister entities, and we structure that split cleanly.
What leverage can an SDL broker offer?+
Product terms for the global book are set by the dealer's own risk framework rather than a statutory retail cap - with conduct, disclosure and client-money duties still applying. Responsible terms are also what banking and PSP partners expect to see.
How are Seychelles dealers taxed?+
The business tax is source-based: Seychelles-source taxable income at 15% on the first SCR 1M and 25% above, no capital gains tax, VAT at 15% domestically - with the post-2021 substance rules for foreign passive income planned into the structure from the start.
What substance does the FSA expect?+
More than a brass plate: fit-and-proper directors, a real business plan, compliance arrangements, licensed representatives and a registered office with an operational footprint matching current FSA practice. The tightening is real, and it is why the licence still converts with banks.
Seychelles or Vanuatu for a fast offshore licence?+
Vanuatu is faster (about three weeks' processing from a final file) and lighter; the Seychelles carries more market proof - a decade of retail brokers, deeper PSP recognition and steadier fees. Many groups start where their banking relationships point; we model both.
Why Prifinance for the Seychelles?+
A Victoria office, complete FSA files, representative licensing run in parallel and the group architecture - SDL plus onshore licences - built under one roof, with 400+ licences of pattern recognition behind it.
What licence?+
FSA Securities Dealer Licence.
Capital?+
US$50,000 paid up.
Cost?+
US$1,500 + US$3,000/year.
How long?+
3-6 months realistic.
EU retail?+
No - global book only.
Leverage?+
Own risk framework.
Taxes?+
15%/25% source-based.
Substance?+
Real, and tightening.
Or Vanuatu?+
Speed vs proof - we model.
Why you?+
Both ends, one roof.
Client notes
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Founders who wanted it done right.
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Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Financial Services Authority of Seychelles (FSA) or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.