Seychelles Fund Administrator License

Governed by the Mutual Fund and Hedge Fund Act, 2008.

Types of Fund Administrator’s License

  • Seychelles Fund Administrator’s license

A Seychelles Fund Administrator’s license allows its holder to administer an unlimited number of mutual funds.

  • Restricted Seychelles Fund Administrator’s license

A Restricted Seychelles Fund Administrator’s license permits its holder to administer only the mutual funds specified in its license.

Approved Foreign Administrator

In cases where the applicant is incorporated overseas and appropriately licensed in a Recognized Jurisdiction, the Act also makes provision for an exemption from the licensing requirement, referred to as “Approved Foreign Administrator”

Requirements

  1. An application for a Fund Administrator’s License may be submitted by a company incorporated under the Companies Ordinance, 1972, or a company which is not incorporated in Seychelles (in which case, the company is required to have an agent for service in Seychelles).
  2. Must comply with the Anti‐Money Laundering Act, 2006, required to have in place anti‐money laundering procedures.

Validity Period of a License

One year – following the date of first issuance of the license.

Audited accounts

Accounts must be audited annually according to the International Financial Reporting Standards. Must be submitted to the authority within 4 months of the end of each financial year.

Taxation

Business tax payable by a Fund Administrator is subject to whether the core income generating activities are undertaken in Seychelles.