Seychelles Gambling Licence: Nuances of its Acquisition and Cost
Seychelles is a little paradise associated with luxury hotels, expensive restaurants, and beach holidays. Entrepreneurship is well developed in this country. Operators can launch licensed gaming sites, receive privileges from the government, and attract solvent traffic.
There are several reasons why it will be a good decision to obtain a casino licence in Seychelles:
- All types of gambling are legal. Entrepreneurs have the right to open a gambling hall on the basis of tourist spots: hotels, entertainment centres, and restaurants. It is also possible to run a virtual casino, board games and bingo, as well as to organise lottery drawings.
- Good financial climate. Seychelles is an archipelago in the Indian Ocean that does not know wars, civil conflicts, and natural disasters. This country has a favourable political environment, which affects the capitalisation of local companies and the growth of investment.
- Loyal taxation. All legal entities that have non-resident status are exempt from all taxes and duties. Thus, for example, entrepreneurs do not have to pay sales taxes, as well as taxes on dividends, real estate, income, etc.
- Simple project launch. You can register a company and start an online platform ― personal attendance of the department of the gambling regulator is not required.
- International prestige. Seychelles casino licence is extremely popular with investors from all over the world. Users will definitely trust gaming sites with a permit obtained in this jurisdiction.
The execution of this document is regulated by the Interactive Gambling Act, dated 2003.
The Seychelles Gambling Commission has a monopoly on the issuance and revocation of licences and exercises control over the market.
To buy the Seychelles casino licence, you first need to register a legal entity.
The IBC (International Business Company) form is considered the most profitable when it comes to taxation. This is a company with non-resident status, which is not allowed to provide services to the local population but can work within the international legal framework.
Businessmen can also provide services to foreign tourists and citizens of other countries via the Internet.
The company name must contain one of the following abbreviations:
Even if entrepreneurs already own a corporation outside the country, they still will need to open a new legal entity in the chosen jurisdiction. Another option is to move the head office to the islands, for example, to the capital of the republic ―- the city of Victoria.
Seychelles casino licensing provides for the formation of start-up capital. The money is accumulated on a commercial account in a local bank.
The minimum amount of the initial capital
The organisation of online and offline gambling
50 thousand euros
Acceptance of bets on sports events via terminals
2,8 thousand euros per unit of equipment
Placement of stationary gambling equipment (slot machines with coins and lottery terminals)
100 euros for each device
It is essential that entrepreneurs provide the regulator with the following documents:
- certificate of registration, charter, a bank statement that confirms the opening of a commercial account and deposition of the initial capital;
- the list of software used by an operator, and its certificates issued by independent laboratories;
- rules of playing casino games on the website or in land-based locations;
- information on used financial aggregators, loyalty programs, security software, and other components;
- an office lease agreement, a certificate of the absence of outstanding utility bills;
- information on founders, the management team, and ultimate beneficiaries;
- confirmation of the location of the company's servers in Seychelles.
The application is processed within 3 months. Due to quarantine restrictions, all documents can be submitted online by filing a convenient administration form.
According to the local legislation, operators pay the state fee after they start working and not in advance. For this reason, business owners earn good money and the public treasury is being regularly replenished.
A gambling licence in Seychelles is issued for 5 years, and its registration does not require the payment of any state fees.
The cost depends on how the company operates ― online or offline:
- organisation of interactive games (slot machines, card entertainment, bingo, video poker, lotteries) ― 15 thousand euros;
- management of a land-based casino ― 50 thousand euros;
- placement of gambling equipment ― 175 euros for each card table, and 125 euros for each slot machine.
The acquisition of a gambling permit in Seychelles will cost about 75 thousand euros but all payments are divided into equal amounts and can be made within 5 years. This approach is very beneficial since entrepreneurs do not need to pay the entire sum at once. Operators have enough time to implement and promote their iGaming projects.
Seychelles gambling licences for IBC companies are exempt from taxes. However, entrepreneurs must transfer annual fees for the maintenance of a legal entity to the public treasury.
The size of such fees depends on the authorised capital:
- legal entities with the authorised capital of up to 5 thousand euros pay minimum contributions ― 100 euros;
- for non-residents with the start-up capital in the range of 5–50 thousand euros, the sum increases to 300 euros;
- operators with an authorised capital of more than 50 thousand euros must pay the fee of 1 thousand euros.
Online Casino Market offers its clients to purchase turnkey casinos with the Seychelles licence.
- certified software from the world’s leading vendors;
- a high-quality gambling platform with the ability to customise it the way you like it;
- connection to multicurrency payment modules;
- comprehensive technical and marketing support.
- The advantages of casino licensing in Seychelles include simple company registration, loyal taxation, and the availability of different types of gambling. The stable political and economic situation in the republic has a positive effect on the capitalisation of the business.
- To obtain a permit, entrepreneurs must register a company, open an account in a local bank, and form an authorised capital, the amount of which depends on the type of activity ― online or offline.
- Operators should pay for the maintenance of a licence for 5 years. The amount of the additional fee depends on the authorised capital and does not exceed 1 thousand euros.
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