Payment Service Providers License

Licenses are granted by the National Bank of Seychelles (“CBS”) under the provisions of the National Payment System (Licensing and Authorization) regulations of 2014.

Key features

A Payment Service Providers licence may be issued to an applicant who meets the following criteria:

    • is a company incorporated under the Companies Act
    • is financially sound
    • has in place a robust mechanism for safeguarding funds
    • has in place adequate governance arrangements for its proposed payment services business
    • has clear rules for handling of complaints arising out of or in connection with the proposed payment services
    • has safe and reliable Information Technology
    • has an adequate number of well-trained and competent staff and management
    • has directors of good character and relevant professional experience

Legal Requirements

General Requirements Corporate Details
  • Entity
Seychelles Limited Company
  • License Application Fee
SCR 25,000
  • License Renewal Fee
SCR 50,000
  • Local Office
Yes
  • Taxation
A corporate Tax of 1.5%
Directors  
  • Minimum Number
Two Natural persons
  • Corporate Directorship
No
Shareholders  
·         Minimum Number Two
·         Corporate Shareholder Yes
Accounts  
  • Requirement to prepare
Yes
  • Audit requirements
Yes
Share capital  
  • Minimum Capital
1,000,000 SCR
Service Providers Required  
  • Auditor
Yes