Regulatory Alerts2012-11-21
Financial Institutions (Bank Licence Fees) Regulations, 2010
The Central Bank of Seychelles, in consultation with the Minister of Finance, has established fixed processing and annual fees for banking and offshore banking licence applicants under the Financial Institutions Act. Applicants must pay a R20,000 processing fee for standard banking licences and $2,000 or equivalent for offshore licences upon submission, alongside annual fees ranging from R250,000 to R1,000,000 based on total assets. These obligations apply before business commencement and continue annually, with the regulations formally taking effect on 1 January 2010.
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