Seychelles is an archipelago of 115 islands located in the Indian Ocean, northeast of Madagascar. Known for its breathtaking beaches, crystal clear waters, and diverse marine life, it's no wonder that this tropical paradise has become a popular destination for tourists and water sports enthusiasts alike. However, there's more to Seychelles than just its natural beauty, it is also known for its strong economy and political stability. 

Economically, Seychelles is a small but prosperous nation with a high GDP per capita. The country has a strong focus on tourism and fishing as the main sources of income, but it also has a growing financial sector. The Seychelles Financial Services Authority (FSA), an autonomous authority responsible for the financial services has been established to attract international business and investment to the country. 

A Seychelles Securities Dealer License is a license issued by the FSA that allows a company to engage in the business of dealing in securities, such as stocks, bonds, and other financial instruments. This includes activities such as buying and selling securities on behalf of clients, providing investment advice, acting as a market maker or underwriter and operating a securities exchange or trading platform. This license is required for anyone operating as a securities dealer in the Seychelles and is subject to ongoing regulatory oversight by the Regulator.

When processing an application for a securities dealer license, the Authority will not grant the license unless certain conditions are met by the applicant. These conditions include that the applicant must be a company incorporated under the Companies Act or under the laws of Seychelles, with at least two natural persons appointed as directors. Additionally, the applicant must employ at least one individual who is licensed as a representative and have a minimum paid-up capital of US$ 50,000. The applicant must also comply with any insurance requirements and be deemed a "fit and proper" person by the FSA. Furthermore, the applicant must demonstrate that it will be able to comply with any financial resources regulations that may apply to it and have specified premises that are suitable for keeping records or other documents. Moreover, a company should appoint a Compliance Officer who will be responsible for the maintenance of adequate systems and controls to ensure compliance with the law, regulations, codes, guidelines and directives issued by the FSA. It's important to note that the Securities Dealer Licence is valid for a period of one year and must be renewed annually.

The "fit and proper" test refers to the evaluation process that the Financial Services Authority uses to assess the suitability and appropriateness of an applicant for a certain role or position. The Authority will take into account the applicant's financial status, educational or professional qualifications and experience in relation to the nature of the application, competence, honesty, and fairness in performing the proposed function, reputation, character, financial integrity, and reliability, as well as successful completion of any examination requirements set by the Authority.