What you need to know about the Seychelles’ Forex license
The only rightful body that can issue the Seychelles Securities Dealer License is the Seychelles Financial Services Authority, often shortened to the FSA. The FSA was established back in 2013 with the introduction of the fundamental legislation called the Financial Services Authority Act.

The Act gives the FSA the power to supervise, regulate, issue, and withdraw the licenses issued to financial service providers according to the Act itself and the financial services legislation of the Seychelles. In simple terms, any paperwork and monitoring, as well as reviewing the license applications and compliance with the country’s legal framework are the direct responsibility of the FSA.

The Seychelles License has a broad scope of financial services it covers, including currency trading, dealing in securities, mutual funds, and investment advisor’s licenses, to name a few. However, its flexibility is not the only reason future brokers pick Seychelles as their licensing authority.

Navigating and supporting its licensees at every step of the licensing process, Seychelles is a country that abides by the principles of the international organizations it is a part of, such as the United Nations, the Commonwealth of Nations, and the World Trade Organization. Hence the brilliant reputation of the Seychelles in terms of economic and social growth.

Seychelles Forex license: Process & Timeline
The FSA itself has sorted out the instructions for the licensing procedure in the Seychelles, including the application forms and checklists. However, it might be challenging to piece everything together without some professional legal assistance provided by Rengang.

Generally speaking, the process of obtaining a Forex license Seychelles consists of three main steps:

Company incorporation in the Seychelles (must have a local registered office)
Preparation and submission of an application form along with the payment of an application fee (proof of payment must be attached to the application)
Consideration and reviewing of the application form by the regulating authority
The duration of consideration of all completed applications by the FSA is thirty (30) working days. It is noteworthy that the licensing process does not always go through without delays, hence the standard is set only for those applications that are formed and submitted according to all the requirements and contain all the necessary information.

In case the application is considered incomplete by the Authority, it will be returned to the applicant with a resubmission period of 3 months. Since the regulation itself is not binding when it comes to the licensing duration, new applicants must understand that the final consideration period will depend solely on their particular company type and individual circumstances.

Main types of Forex licenses in the Seychelles
A Seychelles Forex license is suitable for different kinds of activities. Whether one wants to deal in securities, work as an intermediary in security exchange, or give investment advice, the Seychelles permit covers all these activities and more.

The main types of licenses issued by the FSA are classified by the Securities Act of 2007:

Securities Dealer License. The Seychelles SDL is the main and the most popular type of license one can get for a Forex business registered in the country. This permit includes buying and selling securities, as well as managing securities portfolios of clients.
Securities Exchange License. Slightly differs from the SDL in terms of requirements both in the application form and in the quarterly returns form. Any type of securities exchange is prohibited in the Seychelles unless conducted under this license. The license allows an applicant to operate a regulated exchange for buying and selling securities.
Investment Advisor License. The license is issued to Persons (individuals or companies) that consult others concerning investment in securities, provide analyses or reports on specific securities, or manage a securities portfolio for another individual or a company.
Fund Administrator License. Covers the permits to run Private and Public Funds, as well as Professional and Exempt Funds. In addition, includes Fund Administrator, Restricted Fund Administrator, and Approved Foreign Administrator licenses.