Regulatory Alerts2010-04-21
Bank Licence Fees
The Central Bank of Seychelles enacted the Financial Institutions (Bank Licence Fees) Regulations, 2010, establishing fixed application processing fees and tiered annual licence charges for banking institutions. A clarifying circular specifies that annual fees, payable in Rupees, are calculated using total assets from audited financial statements dated two years prior to the payment year. Effective January 1, 2010, these regulations supersede previous directives and require payments ranging from R20,000 for standard banking licences to R1,000,000 annually based on asset size.
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