In order to boost the economy and attract international interest The Seychelles has passed some new legislation that provides a base for the licensing and housing of online casino gambling companies out of the island nations.
It is not a secret that lots of internet gambling sites operate with very high revenues and profit. So, lower taxes on the revenue and profit, and possibility to operate out of the Seychelles will, for sure, attract some of them to the islands.
Though implementation of the regulations and the new policies has only recently been started, the Seichelles will soon start licensing and operating online casino gambling companies off of its islands. To note, only the companies that meet all the necessary requirements will be allowed to operate out of the Seychelles. The online casinos and companies will be subject to annual audits of all accounts and financial statements. Besides, companies’ software program andsome more things will have to be approved by the licensing authorities before implementation.
This new licensing of online casinos is expected to turn into huge success within very short period of time. The important thing in the licensing process for the company is the presence of a Seychelloisa acting as an agent. The agent should hold the license in his/her name, and only a citizen can do this.