A permission to practice securities is a document that grants permission to a firm that intends to engage in securities business-company, according to the demands of the country’s legislation.
In the event of acquiring a permission to conduct securities actions in the islands, the firm will have the authority to transact on securities in the market. The permission grants the business-company the authority to engage in actions associated with the purchase, sale, and exchange of securities, as well as carrying out other transactions involving securities in accordance with the rules and regulations established by law.
Ready made license on Seychelles
Our company can offer you a ready-made permit solution in Seychelles. We offer a full range of favors related to acquiring Seychelles SDL for sale, including document preparation, hiring a conformity specialist and applying to the Islands Financial Favors.
The Eternity Law team of experts provides our clients with high-quality service and understands that each client has unique needs. We work with attention to detail and provide an individual approach to each client.
If you are interested in acquiring a Securities Dealer License in Seychelles, please contact us. We will be happy to answer all your questions and provide professional assistance in solving any issues related to acquiring a permission.
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Demands for achieving
- In order to obtain a papers permission, a business-company must meet a series of demands imposed by the Seychelles Financial Services Body(FSA).
- Business-company Registration: Firms must be registered as an International Business Company (IBC) or a domestic firm.
- Minimum Fund: The business-company must have sufficient fund, which depends on the type of license the business-company intends to obtain.
- Fit and proper: The firm and its managers must be fit and proper, meaning they must have sufficient expertise and experience to conduct securities litigation and have no criminal convictions or other adverse records in their biography.
- Customer Support: A company must have a customer support mechanism in place to respond to customer inquiries in a timely manner.
Benefits of obtaining license
Acquiring a securities permission in the islands has several benefits:
- Low taxes: state has a fairly attractive tax system for securities companies. There is no income tax, no dividend tax, no inheritance tax and no gift tax in islands.
- Simple registration process: The Island Financial Services has a simple and efficient company registration process, which provides a quick and efficient way to obtain a securities permission.
- Low costs: Operating costs in islands are quite low compared to other countries. This allows firms to reduce the cost of doing business-company and increase their profitability.
- Image: Acquiring a securities permission in the islands can improve a company’s image, as these islands are known for their stability and attractiveness for business.
- Geographical location: Islands is in a strategic geographical location that provides convenient access to the markets of Asia, Africa and Europe.
Documents for acquiring
- Application for acquiring a permission.
- A copy of the charter of the securities business-company.
- A copy of the firm registration certificate.
- Copies of documents on ownership of the company’s assets.
- A plan of monetary operations, including information on the amount of capital, the company’s bank account, the volume of transactions with securities.
- The complete list of directors, sharers and other managers of the firm that carries out actions with securities.
- A detailed description of the company’s actions with securities, including a list of favors supplied and a description of risk administration methods.
- Papers confirming the financial stability of the firm, such as accounting reports, monetary statements and other documents.
Step-by-step instruction how to obtain a permit
Achieving a permission for securities dealing on the islands can be a somewhat complex process, but in general it involves the following steps:
- Check the demands for obtaining the permission
The first step is to check the demands for achieving a permission for securities dealing on the islands to ensure that your firm meets all the necessary demands.
- Prepare the documents
After checking the demands for achieving the permit, you need to prepare all the necessary papers for submitting an application for the permit.
- Submit the application
To obtain a permission for papers dealing on the islands, you need to submit an request to the Islands Financial Services Authority that contains detailed information about your company and its securities dealing actions, as well as a list of all the necessary documents.
- Pay the license fee
After submitting the permission request, you will need to pay the permission fee. The fee amount will depend on the type of permission you are applying for and other factors.
- Await the permission approval
Once the application and all necessary documents have been submitted and the permission fee has been paid, you will need to wait for the Seychelles Financial Services Force to review and approve your permit application.