Obtaining a Gambling License in Seychelles
The Seychelles is not only a paradise on earth but also one of the largest gambling license areas. This activity is legal here, and the process of obtaining a license itself is relatively simple. Nevertheless, it requires a professional approach because if you do not know the peculiarities of the local legislation, you may face rejection. The Lawtter Solutions law firm offers its clients the services of obtaining a gambling license in Seychelles at a favorable price with guaranteed results.
Benefits
Benefits of Obtaining a Gambling License in Seychelles
Obtaining a gambling license in the Seychelles has several significant advantages. The main ones are as follows.
These advantages make the Seychelles one of the most attractive jurisdictions for gambling.
Regulation
Regulation of Gambling Activities in Seychelles
The Gambling Act regulates gambling companies in the Seychelles. The Seychelles Gaming Authority carries out licensing of the gambling business in Seychelles. This body is the only one authorized to issue the relevant permits.
There are three types of gambling licenses in the Seychelles. They are as follows:
- The operation of a land-based casino in the country;
- The operation of a venue providing slot machine services;
- Interactive gambling (online casinos).
Both residents and non-residents can obtain a gambling license in the jurisdiction. There are no residency requirements.
Requirements
What Are the Requirements to Obtain a Gambling License in Seychelles?
There are several requirements for a gambling license in the Seychelles. Knowing and complying with them is essential because otherwise, there is a risk of facing the denial of the permit. First of all, it concerns the registration of the company. It is mandatory to be registered in the Seychelles.
If the casino does not plan to work in Seychelles, opening an International Business Company (IBC) is best. This type of legal entity is designed for non-residents. IBCs are not entitled to provide services directly in Seychelles but can work in any country outside the islands.
An essential requirement concerns the authorized capital. The size differs depending on what kind of license the company wants to obtain. In particular:
- For casino activities – 50,000 EUR;
- For betting activities – 2,800 EUR;
- For land-based slot machines – 100 EUR per 1 machine.
Knowing about the no-tax requirement for casinos in the Seychelles is also critical. However, instead of taxes, there is a policy of annual fees. Every year, companies must pay a fixed amount to the state budget. For different categories of gambling companies, this amount is as follows:
- Land-based casino: 50,000 EUR + 175 EUR for each gambling table + 125 EUR for each slot machine.
- Virtual casino: 15,000 EUR.
- Land-based slot machines: 100 EUR for each machine.
If the company fails to pay these fees, the gambling license will be suspended and may be revoked in the future.
Documents
What Documents Are Required to Obtain a License in Seychelles?
Once the company is registered, you can proceed directly to obtaining a license. You must submit a document package to the Seychelles gaming regulator to accomplish the procedure. It includes the following information:
- Constituent documents of the legal entity – state registration certificate, Articles of Association, and data on the company’s bank account.
- Information on the founders and ultimate beneficiaries of the company.
- Documents on certification of used slot machines or software.
- Internal documents of the company. The organization must provide a document regulating the rules of the games.
- Data on financial aggregators.
- Information about bonus policy and loyalty programs.
- Data on the security of the software.
It is also necessary to provide information about renting an office in Seychelles. All documentation must be stored only in this country. In addition, there is a requirement for virtual casinos regarding the location of servers. They must also be located in the Seychelles.
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