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Seychelles Banking License

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Seychelles Banking Licence: FSA Offshore and CBS Domestic Requirements

Banking in Seychelles operates under a dual regulatory framework. Domestic commercial banks are supervised by the Central Bank of Seychelles (CBS) under the Financial Institutions Act 2004. Offshore banking licences for international institutions are issued by the Seychelles Financial Services Authority (FSA) under the Banks and Trust Companies Act 2005.

The FSA offshore banking licence is designed for international financial institutions that do not wish to transact in Seychelles Rupees or accept deposits from Seychelles residents. It offers a faster licensing timeline and lower capital requirements than a full domestic banking licence, making it one of the more accessible offshore banking licence options available.

FSA Offshore Banking Licence Capital

Minimum paid-up capital of USD 1 million is required. The bank cannot deal in Seychelles Rupees or accept deposits from Seychelles residents under this licence category.

Directors and Fit and Proper

At least two directors are required, both subject to FSA fit and proper assessment. No requirement for Seychelles-resident directors under the offshore banking licence category.

Registered Agent Requirement

A licensed registered agent in Seychelles must be appointed. No physical office presence is required in Seychelles for offshore banking licence holders, reducing operational overhead significantly.

Annual Compliance

Annual audited accounts must be submitted to the FSA. An AML and KYC compliance programme that meets FSA requirements must be maintained and evidenced during annual returns.

CBS Domestic Banking Licence

Significantly higher capital requirements apply. Full physical presence in Seychelles and a locally based management team are required. Suitable for institutions targeting the domestic Seychelles market.

Tax Advantages of a Seychelles Banking Licence

Seychelles operates a territorial tax system. Income derived from activities outside Seychelles is generally exempt from local taxation for offshore banking licence holders. There is no withholding tax on dividends or interest paid to non-residents, and no capital gains tax applies.

Neptune Fiduciaries: Seychelles Banking Licence Support

Neptune Fiduciaries has direct operational experience in Seychelles and manages both FSA offshore and CBS domestic banking licence applications, covering registered agent appointments, application documentation, and ongoing compliance reporting through our Seychelles office.

Get in Touch

Contact Neptune Fiduciaries at info@neptunecorporate.com or sales@neptunecorporate.com or visit our Contact Us page.

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