Most forms of gambling activities have been conducted legally in the Seychelles for over two decades and the main regulatory authority is the Seychelles Gaming Authority or the Financial Services Authority. Learn more about licensed gambling sites here.
Founded in 2013, the Seychelles Financial Services Authority is the main gambling regulatory body in the country. Besides acting as the main gambling regulatory body, the Seychelles Financial Services Authority also deals with many other non-bank financial activities in the country. The Seychelles Gaming Authority was formed back in 2013 under the Financial Services Authority Act.
The Seychelles Gaming Authority is in charge of licensing, regulating, enforcing compliance and gambling regulatory requirements, monitoring, and supervising business operations or companies operating in the non-banking financial industry in the country. Capital markets, insurance, fiduciary services, and collective investment schemes, are among these industries overseen by the Seychelles Financial Services Authority.
The same regulatory body is also responsible for monitoring all the different Trade Zone activities, overseeing operations of the companies offering interactive gambling, slot machines, casino games, and other gambling and betting activities. Speaking of its main responsibilities, we also have to note that the Seychelles Financial Services Authority is also tasked with monitoring credit sales activities and the registration of companies.
According to the Financial Services Act, the regulatory authority also has the power to adopt new measures when necessary to protect players’ rights, educate residents on the growing gambling industry in the country, take actions against companies and businesses that offer unauthorized gambling activities, develop different supervisory and regulatory mechanisms to support the country’s economic growth, administer the nationwide registry legislation, and issue gambling and other forms of licenses according to the Financial Services Act.
When it comes to obtaining a license to run a gambling-related business, the Seychelles Gaming Authority issues three types of licenses, including a license to operate slot machines, a license to run an online casino, and a license to run a land-based casino. Companies that want to apply for licensing must be based in the country. According to the licensing requirements, applicants also need to have all of their servers located on the territory of the Seychelles and their gambling software must certified.
Each applicant also needs to provide required documentation which includes information on their funding and bank accounts, information on their authorized capital, information on all the different payment services they use, and more as listed on the official website.
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