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 |
|
Seychelles Limited Company |
|
SCR 25,000 |
|
SCR 50,000 |
|
Yes |
|
A corporate Tax of 1.5% |
| Directors | |
|
Two Natural persons |
|
No |
| Shareholders | |
| · Minimum Number | Two |
| · Corporate Shareholder | Yes |
| Accounts | |
|
Yes |
|
Yes |
| Share capital | |
|
1,000,000 SCR |
| Service Providers Required | |
|
Yes |