Get a Forex Brokerage License in Seychelles 2023

Facts & Figures

The Seychelles are currently the go-to off-shore solution for businesses seeking to obtain a respected Forex brokerage license. With advanced regulations and proper control mechanisms in place, Seychelles is a top tier jurisdiction in the world of Forex as of 2023.

The process

The costs

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Book a free consultation with one of our experienced specialists to get your license application start or learn more about the Mauritius Forex License.

About the Seychelles Forex License

Table of Contents

Seychelles, an archipelago in the Indian Ocean, is arguably the most popular choice for offshore forex brokerage licenses in 2023 due to its regulatory framework and the benefits of obtaining this well-regarded license. In this comprehensive guide, we’ll delve into the process of getting a forex brokerage license in Seychelles, discussing the various steps, requirements, and potential difficulties, with expert insights from our specialists at

The Economy of Seychelles

Seychelles’ economy has been on a steady rise over the last decade and has reached an estimated gross domestic product (GDP) of $1.612 billion in 2020. It primarily relies on tourism, commercial fishing, and offshore financial services – which has been growing particularly over the past few years.

The government also hasn’t been sleeping over the past years. Authorities have implemented a series of economic reforms, including the liberalization of the foreign exchange market and the promotion of the offshore sector. As a result, Seychelles has experienced significant foreign direct investment, mainly from European countries and China. Additionally, Seychelles is a member of the Common Market for Eastern and Southern Africa (COMESA).

How Seychelles Regulates Financial Markets

Financial markets in Seychelles are regulated by the Seychelles Financial Services Authority (FSA). The FSA is responsible for the licensing, supervision, and regulation of non-bank financial services in the country, including forex brokerages, insurance companies, securities dealers, and collective investment schemes. 

In addition, the FSA sets and enforces standards for the conduct of financial services and monitors compliance with these standards.

Registering a Company in Seychelles 

1. Choose a Company Name

The first step in registering a company in Seychelles is to choose a name that is not already in use by another company – we recommend using the name under which you will be operating.

2. Prepare the Memorandum and Articles of Association

The Memorandum and Articles of Association are the documents that outline the rules and regulations of the company. These documents must be prepared and signed by all shareholders.

4. Register the Company and obtain business registration number

Your lawyer will then register the company with the Registrar of Companies. This involves submitting the Memorandum and Articles of Association and other relevant documents. Additionally, you will receive a business registration number from the Registrar of Companies. This number will be used to identify the company and is required for all official documents. This is also something that your lawyer or service provider will take care of.

5. Open a Corporate Bank Account

Once the company is registered, it is often essential to open a corporate bank account. Good service providers (including will always have relationships with the best local banks and can help you with this step.

6. Obtain Tax Identification and VAT numbers

Your lawyer will also request a tax identification number from the Seychelles Revenue Commission, as well as register the company and provide you with a VAT number.

Taxation in Seychelles 

Seychelles generally has a great and simple tax system that benefits individuals and companies – particularly from foreign owners. 

The tax rate for individuals ranges from 0% to 33%. For local companies, the base tax rate is 25% and 33% on any taxable income above SR 1,000,000.

However, international companies that only work with businesses and individuals outside of Seychelles are subject to a 0% tax rate – this of course also applies to Forex companies.

To obtain the 0% tax rates, companies may not sell to Seychelles residents or businesses.

Benefits of the Seychelles Forex License 

Seychelles has become a popular offshore hub for obtaining forex brokerage licenses due to its favorable regulatory environment, strong financial services sector, and numerous tax incentives. In detail, its benefits include:

1. Robust Regulatory Framework 

Seychelles features a well-regulated financial sector overseen by the Financial Services Authority (FSA). The FSA ensures that forex brokers adhere to strict guidelines and standards, promoting transparency and accountability. This robust regulatory framework helps build trust among investors and traders, making Seychelles a desirable location for forex brokers.

2. Cost-Effective Licensing Process 

Compared to other jurisdictions, the licensing process in Seychelles is relatively cost-effective. The initial and ongoing fees are lower, making it an attractive destination for forex brokers, especially those in the early stages of their business. The Seychelles forex license also has a faster approval process, which allows brokers to commence their operations sooner.

3. Favorable Tax Regime 

Seychelles offers a competitive tax regime that benefits forex brokers. The corporate tax rate for international companies is 0%, and there are several tax incentives and exemptions designed to encourage foreign investment. These include tax holidays, duty-free imports, and tax free repatriation of profits, making Seychelles an attractive jurisdiction for forex brokers looking to minimize their tax liabilities.

4. Reputation as a Legitimate Financial Center

Seychelles has established itself as a reputable international financial center, thanks to its robust regulatory framework, skilled workforce, and commitment to economic growth. Forex brokers who obtain a Seychelles forex license can leverage the country’s positive reputation to attract clients and investors who are confident in the quality of services offered.

5. Stable Political and Economic Environment 

Seychelles is recognized for its political stability and strong economic performance. The country has consistently implemented reforms that promote economic growth, attracting foreign direct investment and developing a strong financial services sector. Forex brokers operating in Seychelles can enjoy the benefits of a stable environment that supports the growth of their business.

7. Access to Regional Markets 

Seychelles is strategically located in the Indian Ocean, with easy access to the African, Asian, and Middle Eastern markets. As a member of the Southern African Development Community (SADC) and the Indian Ocean Commission (IOC), Seychelles offers forex brokers excellent opportunities to expand their business and clientele across these regions.

Who is eligible for a Seychelles Forex License? 

To be eligible for a Seychelles forex brokerage license, applicants will be checked for criminal records and connections to high-risk countries as defined by the Office of Foreign Assets Control (OFAC). For examples, sanctioned nations often include North Korea and Iran. Politically exposed persons may also face difficulties in obtaining a license. All checks must return negative in order to be eligible.

Applying for a New Forex Brokerage License: A Step-by-Step Guide 

Below is a list of steps you need to take while applying for a new Forex license in Seychelles.

1. Develop a comprehensive business plan

Include business strategy, financial projections, marketing plans, and KYC procedures for assessing client risk levels and complying with anti-money laundering regulations. Of course, we at have extensive knowledge about how to design business plans for various jurisdictions and are happy to assist you with this task.

2. Appoint investment dealers and local directors

Appoint at least two experienced investment dealers and two local directors to comply with regulations and ensure proper KYC procedures. Again, has many relationships with local directors and investment dealers to help our clients.

3. Obtain insurance quote and submit application

Get a quote from an insurance company for your business and submit your application to regulators along with the initial fees.

4. Open a local bank account

Once your application is accepted and pending, open a bank account in Seychelles. There are many different banks, and of course we can assist you with opening an account at the best available banks. However, you must wait for license approval before you can start operating.

5. Obtain license approval and start operating

Once your license is approved, you can begin operating your forex brokerage in Seychelles.

Comparing Seychelles to Other Jurisdictions 

Seychelles is considered one of the best global licenses for forex brokerages due to its advantages, such as ease of advertising, access to good bank accounts and payment service providers (PSPs), and a fast, efficient process when working with a professional consulting agency. However, with the rise of Mauritius as an off-shore Forex destination, Seychelles now as a serious competitor right next to it. 

Mauritius as a jurisdiction offers similar benefits with even lower ongoing operational costs and faster licensing processes.To learn more about whether Seychelles is the right jurisdiction for your Forex business, reach out to our specialists by pressing the button below and set up a complimentary consultation this week.

Key Benefits of a Seychelles Forex Broker License

  • Strong reputation
  • No exchange controls
  • Net effective tax rate of 3%
  • Free repatriation of records
  • No public records

Ready to Move Forward?

Book a free consultation with one of our experienced specialists to get your license application start or learn more about the Mauritius Forex License.