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Know Your Customer Regulations in Seychelles: A Guide for Residents and Non-Residents

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In a bid to enhance financial stability, curb money laundering and terrorist financing, and ensure transparency in transactions, the Seychelles Licensing Authority (SLA) has implemented robust Know Your Customer (KYC) regulations. These regulations apply to both residents and non-residents conducting business in Seychelles.

Understanding KYC Regulations

The SLA requires all individuals and entities to provide accurate and up-to-date identification details when opening a bank account, applying for a loan, or engaging in any other financial transaction. This information includes:

  • Name
  • Date of birth
  • Address
  • Occupation
  • Proof of identity

Calculating Road Fund License Fees

Private vehicles are charged SCR 2.50 per cc, with a minimum fee of SCR 1000.

Commercial motor vehicles weighing up to 5 tons are charged SCR 2.00 per cc, also with a minimum fee of SCR 1000.

Reserving Vehicle Numbers

Individuals seeking to reserve a vehicle number must submit a letter addressed to the CEO of Seychelles Licensing Authority requesting approval.

Feedback Mechanism

The SLA values customer feedback and encourages residents and non-residents to provide their input on its services. The authority has established a feedback mechanism to gather suggestions and complaints, which can be submitted through various channels.

For quick access to frequently asked questions, vacancies, acts and regulations, enquiry, downloads, online services, and more, visit the SLA website: [insert website URL]

Stay Informed

The SLA regularly posts announcements on its website. Stay up-to-date with the latest news by visiting the “Announcement” section: [insert website URL]