Seychelles Non-Domestic Insurer Licenses

The Insurance (Non-domestic Insurance Business) Regulations, 2009 governs the conduct of non-domestic insurance business activities in Seychelles.

Key Features

A Non-domestic insurer in Seychelles is one who carries out foreign insurance business but is regulated from Seychelles.

Legal Requirements

Requirements	Description
General
Corporate  vehicle permitted	Seychelles Domestic Company, Protected Cell Company
·         License application fee	USD 1,000
·         Annual license fee	USD 1,500
Local physical office required	No
Share capital or equivalent
·         Minimum paid up capital	USD 100,000 (General and long term insurance) USD 50,000 (Solely reinsurance) USD 25,000 (Solely captive insurance)
Directors
Minimum number	No
Corporate directorship allowed	Yes
Local director required	No
Shareholders
Minimum number	No
Corporate shareholder allowed	Yes
Local shareholder required	No
Service Providers Required
Company secretary	Yes
Auditor	Yes
Legal adviser	Yes

 Tax Treatment

The Business Tax Act does not apply to a licensed Non-domestic Insurer.

Duration to Set Up

About 3 months

Distinctive Benefits of Licence

• Ease and speed of establishment
• Favourable compliance restrictions
• Friendly regulatory environment

The Valsen Advantage

• End to end comprehensive service
• Speedy and efficient service
• Expert advice on structuring options
• Dedicated ongoing compliance support
• Extensive network pool of service providers