Regulatory Alerts2019-06-05
Consolidated Financial Institutions (Bank Licence Fees) 2010-2014
The Central Bank of Seychelles, in consultation with the Minister of Finance, issued these regulations to establish a fixed application processing fee of R75,000 and a tiered annual banking licence fee structure based on total assets. The regulations mandate that applicants pay the processing fee upon submission and the annual fee upon licence grant, with amounts scaling from R250,000 for institutions under R300 million in assets to R1,000,000 for those exceeding R5 billion. Subsequent statutory instruments in 2012 and 2014 amended the fee schedules to reflect updated asset thresholds and corresponding annual charges.
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