Seychelles trust and fiduciary regulation
The Seychelles Financial Services Authority pages identify the regulator for non-bank financial services and describe the trust service licence. They also show how fiduciary entities are listed and where the FSA publishes application instructions.
The regulator and its scope
The Seychelles Financial Services Authority, or FSA, regulates non-bank financial services in Seychelles. Its stated responsibilities include licensing and supervising people in that industry, as well as developing the industry. The FSA also registers trusts and other specified entity types.[1]
For fiduciary sector inquiries, the FSA publishes a dedicated supervision email address. The Fiduciary page is organized under the FSA's regulated entities material and groups entries under three abbreviations: ICSP, FSP and TSP.[1][2]
Trust and fiduciary service categories
The FSA's fiduciary information describes three licence types under the ICSP Act: International Corporate Services, International Trustee Services and Foundation Services. The trust-specific category is the International Trustee Services Licence. The separate Fiduciary page uses ICSP, FSP and TSP as labels for regulated entity listings.[1][2]
The FSA defines trustee services by activities carried out in or from Seychelles. They include work connected with forming, registering or administering a trust, and serving as a resident trustee. The definition also includes other services that may be prescribed.[1]
The corporate services category covers specified activities such as forming or administering a specified entity, or serving as its registered agent or director. Foundation services have their own licence category.
How the public register is presented
The FSA's Fiduciary page functions as a public listing of regulated entities, with category labels and entity contact details. Entries include names and addresses, as well as contact channels, while the top of the listing groups them under ICSP, FSP and TSP.
Applying for a licence
The FSA says licence application forms and guidelines for different licences are available on its website. Its instructions say applicants are to follow the relevant form and guideline, then complete the application in full. The FSA states that missing necessary information or documents can be grounds for rejecting an application.[1]
The FSA says an application may be submitted through a third person or by post. It also says it reviews applications for completeness and communicates with the applicant identified on the submitted application, copying a third party when one is involved. Applications are addressed to the Chief Executive Officer of the Financial Services Authority in Victoria, Mahé, Seychelles.[1]
The FSA directs applicants to materials on its website, including the relevant legislation and codes. It also directs them to the guidelines. The FSA notes that some consolidated laws are provided for reference and guidance, and that the official version published in the Official Gazette is the version to consult for interpreting and applying the law.[1]
In more detail
The FSA describes two roles on its general questions page: it licenses, supervises and develops non-bank financial services, and it registers several entity types, including trusts.[1]
Key points
An applicant seeking an International Trustee Services Licence can identify it among the three licence types listed under the ICSP Act. The FSA says the relevant application form and guideline are available on its website.[1]
The FSA says it communicates with the applicant identified on the application and copies the third party.[1]
Relevance for U.S. citizens
The FSA's rules set out what falls within trustee services and distinguish that licence category from corporate and foundation services. International trustee services include services connected with forming, registering or administering a trust and serving as its resident trustee in or from within Seychelles.[1]
Related reading
Seychelles trusts for U.S. citizens provides the broader Seychelles trust context. Seychelles information exchange and U.S. trust reporting covers information exchange and U.S. trust reporting. Seychelles trust taxation and U.S. reporting addresses trust taxation and U.S. reporting. Seychelles and U.S. tax treaty information covers treaty information.
Questions and answers
Which Seychelles authority regulates trust service providers?
The Seychelles Financial Services Authority regulates non-bank financial services. Its stated responsibilities include licensing and supervision, while the FSA also registers trusts.[1]
What licence is specific to trustee services?
The FSA lists an International Trustee Services Licence under the ICSP Act. It defines trustee services to include trust formation, registration or administration, and serving as a resident trustee.[1]
What does the FSA's fiduciary register show?
The Fiduciary page is located under regulated entities and grouped under ICSP, FSP and TSP labels. Its entries display entity information, including addresses and contact details.[2]
Where are licence application forms and guidelines?
The FSA says the forms and guidelines for different licences are available on its website. Its instructions say to complete the relevant application in full.[1]
Can an application be sent by post or through a representative?
The FSA says a licence application may be submitted by post or through a third person. It states that the FSA communicates with the applicant named on the application, with the third party copied.[1]
Related resources
Related glossary terms
- Intergovernmental agreement: An intergovernmental agreement appears in FATCA rules for foreign financial institutions. Form 8938 instructions also use the term for certain foreign accounts.
- Foreign entity: Form 8938 instructions treat interests in foreign corporations and partnerships, and in trusts and estates, as specified foreign financial assets in some cases.
Related articles and guides
- Nevis trust and fiduciary business regulation: Nevis licensing for trust and corporate service providers: the licence classes, application steps and the Commission's published list of licensed providers.
- Cyprus regulation of trust service providers: CySEC pages explain which administrative service providers are licensed in Cyprus and what published records show about trust management by those providers.
Related pages
- Seychelles: overview: Start page for this jurisdiction.
- Types of trusts
- Taxation of trusts
- Reporting and information exchange
Sources and data notes
- Seychelles Financial Services Authority, Financial Services Authority. https://fsaseychelles.sc/component/sppagebuilder/page/157. Retrieved .
- Seychelles Financial Services Authority, Fiduciary. https://fsaseychelles.sc/regulated-entities/fiduciary. Retrieved .
Dates in this block record when each source was read for this page.