Seychelles, Regulated by FSA
The Seychelles is an attractive jurisdiction option for those who are starting a Brokerage Firm and who need a cost effective Forex Regulation solution. The Seychelles Licence application turnaround is fast and efficient and has a very attractive tax rate. Seychelles now offers a Special License Company (CSL), which is a relatively new introduction by the Seychelles Companies (Special Licenses) Act 2003. It is a more complex and more expensive procedure than starting an International Business Company, but it has more advantages, especially when it comes to Licensing from the FSA.
A CSL – Special License Company has special tax and other features prescribed by the Seychelles Companies (Special Licenses) Act 2003. It is formed under the “domestic” Seychelles Companies Act 1972. Unlike an IBC, which is a zero-tax company, a CSL is essentially a low-tax company, liable to 1.5% tax on its worldwide income. With access to double tax treaties which have been concluded by the Seychelles, unlike an IBC. A CSL is considered a tax-resident in the Seychelles, so is conducive to less scrutiny and greater ease of conducting business abroad.
There are various international Double Taxation Avoidance Treaties benefits which a CSL qualifies for. The Seychelles is also not subject to the EU Savings Tax Directive.
For more information, contact our license specialist.