Seychelles Insurance Representative License

The Insurance Act, 2008 governs the conduct of insurance related business activities in Seychelles.

Key Features

An insurance representative shall

1. keep such records, and
2. furnish to the Authority such statements and returns relating to the insurance representative’s business in such form and at such intervals, as may be prescribed
3. not collect and keep premiums on behalf of an insurer.

Legal Requirements

Requirements	Description
General
Corporate  vehicle permitted	Individual/Company
·         License application fee	USD 1,000
·         Annual license fee	USD 1,000
Local physical office required	No
Share capital or equivalent
·         Minimum paid up capital	None
Directors
Minimum number	No
Corporate directorship allowed	No
Local director required	No
Shareholders
Minimum number	No
Corporate shareholder allowed	No
Local shareholder required	No
Service Providers Required
Company secretary	No
Auditor	No
Legal adviser	No

 Tax Treatment

The Business Tax Act does not apply to a licensed Principal Insurance Representative.

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