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.
Set up an investment fund in Seychelles.
The cheapest supervised fund on the map, priced in public: the Financial Services Authority licenses private funds at US$750 to apply and US$1,000 a year, professional funds at US$1,000 and US$1,250, and public funds at US$1,500 and US$1,500 - with fund administrators from US$1,000 and every figure published in the Authority's own fee schedule.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Seychelles in brief
Three fund categories, all priced in four figures.
Seychelles runs a conventional three-tier fund regime under the Financial Services Authority, and it publishes exactly what each tier costs. A private fund - the closed, restricted vehicle - applies for US$750 and renews at US$1,000 a year. A professional fund, aimed at sophisticated investors, costs US$1,000 to apply and US$1,250 annually. A public fund, offered more widely with the fuller regime attached, is US$1,500 both to apply and to renew. The service layer is priced the same way: a fund administrator licence at US$1,500 and US$2,000, a restricted fund administrator at US$1,000 and US$1,500, an approved foreign administrator at US$2,000 and US$2,000, and investment adviser licences at US$1,250 to US$3,000 depending on whether the applicant is an individual or a company.
Those numbers are the jurisdiction's argument. For an emerging manager, a first fund or a family vehicle that does not need an institutional flag, Seychelles offers real supervision - a licensed vehicle on a regulator's register, with a licensed administrator behind it - at a total annual cost that Luxembourg spends on a single board meeting. The real limits go on the same page: no EU or US passport, a small service-provider bench compared with the fund capitals, and allocators who will ask why the fund is not in Cayman. Used for what it is - a supervised, affordable home for a global or regional book - it works. We select the tier, license it and build the administration around it.
Every tier priced in public: the FSA licenses private funds at US$750 to apply and US$1,000 annually, professional funds at US$1,000 and US$1,250, public funds at US$1,500 and US$1,500 - with administrators from US$1,000 and adviser licences alongside.
Real supervision at the lowest entry cost on the map. Real limits too: no passport, a small provider bench, and institutional allocators who will ask why not Cayman.
The three tiers
Private at US$750 - professional at US$1,000 - public at US$1,500.
The tier is decided by who the fund is offered to, and the Authority publishes the price of each. We match the tier to the investor base before filing.
The private and professional tiers - or the public fund.
01 - PRIVATE · PROFESSIONAL FUND
The restricted vehicles
The private fund at US$750 to apply and US$1,000 annually for closed investor groups, or the professional fund at US$1,000 and US$1,250 for sophisticated investors.
The private fund at US$750 to apply and US$1,000 annually for closed investor groups, or the professional fund at US$1,000 and US$1,250 for sophisticated investors.
- ✓Private fund - US$750 / US$1,000
- ✓Professional fund - US$1,000 / US$1,250
- ✓Closed or sophisticated investors
- ✓Licensed vehicle on the FSA register
- ✓Administrator appointed
- ✓Fit-and-proper principals
02 - PUBLIC FUND · ADMINISTRATION
The wider offering
The public fund at US$1,500 to apply and annually, with the fuller regime - plus the administration licences that support the structure, from US$1,000 for a restricted administrator.
The public fund at US$1,500 with the fuller regime, plus the administration licences supporting it. Restricted administrator from US$1,000.
- ✓Public fund - US$1,500 / US$1,500
- ✓Fuller disclosure regime
- ✓Fund administrator - US$1,500 / US$2,000
- ✓Restricted administrator - US$1,000 / US$1,500
- ✓Approved foreign administrator - US$2,000
- ✓Investment adviser licences alongside
Fees per the FSA's published Licensing and Registration Fees schedule as of 2026. The schedule is indicative and does not override the legislation. Conditions are confirmed at filing.
Why Seychelles
Six reasons managers use Seychelles.
✓
Published, four-figure fees
US$750 to US$1,500 to apply and US$1,000 to US$1,500 annually. The entry cost is on the regulator's own schedule.On the FSA's schedule.
✓
Real supervision
This is a licensed vehicle on a regulator's register with a licensed administrator behind it, not a registration dressed up as a fund.Licensed, on a register.
✓
Three clean tiers
Private, professional and public. The category follows who is actually offered the fund, and the price follows the category.Category follows investors.
✓
The administration layer
Fund administrator licences are priced and available locally, including a restricted category for smaller operations.Restricted route exists.
✓
Speed at this scale
A small regulator and a small file mean months rather than the year a European launch consumes.Small file, small regulator.
✓
Limits stated up front
No EU or US passport, a small provider bench, allocator questions to answer. We say all three before you commit.All three, up front.
How it compares
How Seychelles differs from other fund domiciles.
Side by side: the lowest supervised entry cost anywhere. In the smallest fund ecosystem on this list.
Seychelles vs other fund domiciles
| Feature |  Seychelles | Other domiciles |
|---|---|---|
| Application fee | US$750-US$1,500 | US$2,000-five figures |
| Annual fee | US$1,000-US$1,500 | CI$4,125 · EUR thousands |
| Tiers | Private · professional · public | Categories vary |
| Passport | None | AIFMD where EU |
Application fee
SeychellesUS$750-US$1,500
Other domicilesUS$2,000-five figures
Annual fee
SeychellesUS$1,000-US$1,500
Other domicilesCI$4,125 · EUR thousands
Tiers
SeychellesPrivate · professional · public
Other domicilesCategories vary
Passport
SeychellesNone
Other domicilesAIFMD where EU
Country by country
| Country | Vehicle | Regulator | Notes |
|---|---|---|---|
| Seychelles | Private · professional · public | FSA Seychelles | US$750-US$1,500 to apply |
 Bahamas | SMART · professional fund | SCB | Models published as Rules |
 Cayman Islands | Mutual and private funds | CIMA | CI$4,125 annual registration |
 Mauritius | Collective investment schemes | FSC Mauritius | Treaty network, 3% effective |
SeychellesVehiclePrivate · professional · public
RegulatorFSA Seychelles
NotesUS$750-US$1,500 to apply
BahamasVehicleSMART · professional fund
RegulatorSCB
NotesModels published as Rules
Cayman IslandsVehicleMutual and private funds
RegulatorCIMA
NotesCI$4,125 annual registration
MauritiusVehicleCollective investment schemes
RegulatorFSC Mauritius
NotesTreaty network, 3% effective
Before you launch
What a Seychelles fund actually requires.What a launch requires.
Low fees are not low obligations. The checklist below is what a compliant licence covers.
01
Tier choice. Private, professional or public, decided by who the fund is actually offered to.
02
Seychelles vehicle. The fund formed in the appropriate legal form for the tier.
03
Application and fees. US$750, US$1,000 or US$1,500 depending on tier, with the annual fee budgeted.
04
Fit-and-proper principals. Directors and owners vetted to ultimate-owner level.
05
Offering documentation. Drafted to the tier's requirements and the actual strategy.
06
Administrator. A licensed fund administrator appointed, or the restricted administrator route considered.
07
Auditor. Appointed, with the reporting obligations of the tier observed.
08
Investment adviser licensing. Where the manager or adviser also requires its own licence.
09
Local presence. Registered office and administration the Authority can reach.
10
AML/CFT programme. Seychelles framework with a named officer.
11
Scope, stated. EU, UK and US investor bases addressed through appropriately licensed entities.
01
Tier chosen on investors.
02
Seychelles vehicle formed.
03
Fees budgeted by tier.
04
Principals vetted to UBO.
05
Offering documents drafted.
06
Administrator appointed.
07
Auditor engaged.
08
Adviser licence if needed.
09
Local presence maintained.
10
AML officer named.
11
Regulated markets routed out.
Fees per the FSA's published schedule as of 2026; the schedule is indicative and the legislation governs. Conditions are confirmed at filing.FSA fee schedule + legislation, as of 2026.
How it works
From first call to a licensed Seychelles fund.
01
Tier and investors
Who subscribes and how widely it is offered. The question that sets both the category and the fee.Category and fee.
02
Vehicle and principals
The Seychelles fund formed and its directors and owners prepared for vetting.Formed and vetted.
03
Documents and providers
Offering documentation drafted; administrator and auditor engaged.Providers engaged.
04
Application
Filed with the applicable fee. US$750, US$1,000 or US$1,500 by tier.Fee by tier.
05
Launch
Licence issued, banking live, annual renewal calendared.Banking live.
Quick facts
RegulatorFSA Seychelles
Private fundUS$750 · US$1,000
Professional fundUS$1,000 · US$1,250
Public fundUS$1,500 · US$1,500
Fund administratorUS$1,500 · US$2,000
Restricted administratorUS$1,000 · US$1,500
Foreign administratorUS$2,000 · US$2,000
PassportNone
The Authority's schedule is indicative and does not override the legislation. Every condition is read from the Act at filing.
On the ground in Seychelles
Run from our Victoria office.
Prifinance - Seychelles
Victoria · Seychelles
Victoria, Mahé, Seychelles
01
Tier and investors
The category matched to who actually subscribes. Private, professional or public, decided up front.Decided up front.
02
The FSA file
Offering documents, principals and service providers assembled before the application is filed.Complete at filing.
03
Administration
A licensed administrator engaged - or the restricted administrator route where the scale suits it.Licensed or restricted.
04
Banking and launch
Accounts and custody arranged for an island-licensed fund, with the annual fee calendar set.Renewals calendared.
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 Seychelles funds.
Source-based taxation with substance rules. Territorial logic that rewards a clean structure.
Source-based system
Seychelles taxes income by source, so foreign-source fund income maps outside the charge when the structure is clean.Structure decides.
Substance rules
The territorial outcome depends on the operation being real, which the licensing requirements already push toward.Real operation needed.
No capital gains tax
Realisations sit outside the system. Fund economics stay whole.Economics whole.
Known fixed costs
Application and annual fees are published to the dollar, so the fiscal relationship is a line item.Published to the dollar.
Investor-level analysis
Subscribers are taxed where they live. The documentation is built with their residences in mind.Residence decides.
Reporting applies
Beneficial ownership and exchange-of-information obligations apply. The fund is built to report.Built to comply.
Tax summary
SystemSource-based · substance
Capital gains taxNone
Annual fund feeUS$1,000-US$1,500
Investor levelResidence-based
ReportingBeneficial ownership · exchange
*Position as of 2026 per the Seychelles Revenue Commission and the FSA schedule. Source and investor 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 vehicle, 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 fund.
Follow Prifinance
Active across our channels.
Seychelles · FSA
Launch your Seychelles fund with expert support.
Full-service assistance - from tier selection and documentation to FSA licensing, administration and banking - run through our Victoria office.
Get a consultation →Free legal opinion
Which fund tier fits your investors?
Our legal team will analyze your case at no cost and provide a written legal opinion: which vehicle, jurisdiction, or route fits your fund.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Seychelles fund: frequent questions.
What fund categories exist in Seychelles?+
Three: the private fund for closed investor groups, the professional fund for sophisticated investors, and the public fund offered more widely with the fuller regime attached.
What do they cost?+
Per the FSA's published schedule: private fund US$750 to apply and US$1,000 annually; professional fund US$1,000 and US$1,250; public fund US$1,500 and US$1,500.
What about the administrator?+
A fund administrator licence costs US$1,500 to apply and US$2,000 annually, a restricted fund administrator US$1,000 and US$1,500, and an approved foreign administrator US$2,000 and US$2,000.
Is an investment adviser licence separate?+
Yes, and it is priced separately: US$1,250 to apply and US$2,500 annually for an individual, US$1,500 and US$3,000 for a company. Whether the manager needs one is assessed against the actual role.
Are those fees the whole cost?+
No - they are the state's share. Legal, administration, audit and banking are the real budget, and the FSA notes its own schedule is indicative and does not override the legislation.
Does a Seychelles fund passport anywhere?+
No. There is no EU or US passport. The fund serves global and regional books, and investors in regulated markets are addressed through appropriately licensed entities.
How are Seychelles funds taxed?+
Under a source-based system with substance rules - foreign-source income maps outside the charge when the structure is genuine. There is no capital gains tax.
Will institutional allocators accept it?+
Some will not, and we say so. Seychelles suits emerging managers, family vehicles and regional books; a fund raising from large institutions will usually be pushed toward Cayman or Luxembourg.
How long does licensing take?+
Months rather than the year a European launch consumes - a small regulator and a small file, provided the documentation arrives complete.
Why Prifinance for Seychelles?+
The tier matched to the real investor base, the file complete at submission, and the frank conversation about which allocators will and will not accept the domicile - from our Victoria office.
Which categories?+
Private, professional, public.
Cost?+
US$750 / 1,000 / 1,500.
Administrator?+
US$1,500 · US$2,000.
Adviser licence?+
Separate, US$1,250-3,000.
All-in?+
No - state share only.
Passport?+
None.
Taxes?+
Source-based, no CGT.
Institutions?+
Some will refuse - said.
How long?+
Months, if complete.
Why you?+
Clear on allocators.
Client notes
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Get a free legal opinion on 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.Free legal opinion: which Seychelles tier fits your fund and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
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 FSA Seychelles or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.