Requirements for the Application of a Hire Purchase Licence

Cover Letter addressed to the Chief Executive Officer of the FSA

Application Form (no blank spaces should be left unanswered)

Certified true copies of the constitutional documents (Memorandum and Articles of Association, Certificate of Incorporation, Certificate of Good Standing- if applicable) of the applicant

The audited financial statements of the applicant for the last 2 years, if the applicant was not incorporated within the last 12 months

Personal Questionnaire Form completed by each director, senior officer, individual shareholder and beneficial owner

List of Due Diligence documents that are required to be submitted together with the Personal Questionnaires:-  Certified true copy of passport  1 recent passport photograph  Certified proof of residential address (dated not older than 3 months)  Original Bank reference letter (dated not older than 3 months)  Past Employer references (where applicable)  Up-to-date Curriculum Vitae  Certified copies of stated academic qualifications  Certified copies of stated professional qualifications  Certified copies of stated membership to professional bodies  List of directorships (if applicable)  Police Character Reference/ certificate (original) not older than three (3) months from the Country in which the applicant last resides  Tax Clearance Certificate  Politically Exposed Person Self-Declaration Form

Certified true copies of constitutional documents and audited financial statements for the past 2 years of each shareholder which is a non-individual

A copy of the policy of insurance (appropriate to the proposed nature and size of the business) of the applicant

The template of the hire purchase/credit sale agreement that the company intends to use;

Details on the place where the company carries on or proposes to carry on the hire purchase business;

Detailed Business Plan  Company background  Objectives of the company  the nature of goods that the company is to hire out/credit sale;  Targeted Market details  Logistical Requirement in setting up operations  Detailed 3 year cash flow forecast including a breakdown of:  Utilities, Communications (Telephones, Facsimile, Internet)  Administrative Costs, Salaries and Wages  Finance Charges, Insurance, Training Costs, Consultancy, General Overheads, etc.

Procedures Manual  The procedures manual should be a detailed a step-by-step guide as to how the operational processes of the business will be carried out. Details of the relevant checks to be performed have to be included in the procedures with mention of the persons who will be responsible for each specific task. A procedure manual should be simple to read and easy to use. It should be designed in order to assist others in completing a certain task, to serve as guidance and also to maintain continuity in an organization.

Compliance Manual  The Compliance manual should contain the policies on how the organization foresees to comply with the applicable laws, regulations and guidelines. The document should also contain details of the risk management and conflict of interest policies that the business will adhere to. The ways in which the policies will be implemented should be clearly explained.

Anti-Money Laundering Manual  The Anti-Money Laundering manual should contain the procedures on how the business foresees compliance with the Seychelles Anti-Money Laundering Act, 2006.

the tax identification number and the date of registration of the company; 

any other information that is relevant to the application.