The financial industry is very prolific in Seychelles and those who want to open companies here have several options when it comes to the subsectors they can operate in. No matter the choice, it is mandatory to obtain the necessary licenses in accordance with the activities they want to complete through these companies.
The payment service provider (PSP) license is one of the most sought types of business permits for financial companies in Seychelles and obtaining it is not very complicated. Below, our company formation agents in Seychelles explain the requirements one needs to meet in order to obtain a PSP license. We also invite you to get in touch with us if you are interested in setting up an offshore company in Seychelles and in obtaining a PSP license.
There are various types of services a financial company in Seychelles can offer. Among these, offering merchant and online payment solutions is one of the most sought as many businesses seek to integrate such services in their activities. In order to become a payment service provider in Seychelles, one must first register a company in this country. Then, the company must apply for a PSP license which enables it to process payments.
It is good to know that foreign investors who want to apply for PSP licenses in Seychelles have several choices when it comes to the types of structures they can use for registering the company. It should be noted that they cannot use a Seychelles offshore company for obtaining a PSP license.
Our company registration advisors in Seychelles can help you choose a business structure under which a PSP license can be obtained.
As mentioned above, a local or foreign entrepreneur must first register a company with the Companies Register in Seychelles before applying for a PSP license. The payment service provider permit will be issued by the Central Bank of Seychelles based on several criteria that have to be met by the company. Among these:
Apart from these, the managers or directors of the institutions must be of good character and have clear criminal records.
With respect to the registration of a company seeking to obtain a PSP license, our Seychelles company formation specialists can help you.
In order to obtain the Seychelles PSP license, the company must submit an application with the Central Bank. The application consists in a form which must be completed by the representative of the company and which must contain specific information, such as:
A questionnaire must also be answered and submitted upon applying for the Seychelles PSP license.
We are also at the disposal of foreign investors who want to set up offshore companies in Seychelles.
No matter the type of financial license a company wants to obtain, the Central Bank imposes specific fees. In the case of PSP licenses, the following need to be considered:
The Central Bank answers all PSP license applications within 21 days from the submission of the documents.
For assistance in obtaining a PSP license in Seychelles, please contact our specialists.