Seychelles Company

The Beneficial Ownership Act, 2020 (the “Act”) (originally enacted on 28 August 2020), has been amended by the Beneficial Ownership (Amendment) Act, 2022 (the “Amendment Act”) with effect from 30 December 2022. The amendments will ensure that Seychelles remains in compliance with international standards especially with those under the Financial Action Task Force (FATF). Key changes under the new legislation: For the exempted Seychelles companies which are listed companies or wholly-owned subsidiaries of listed companies, the Act creates a framework for the collection of certain minimal beneficial ownership information (mostly relating to their statutory...

Seychelles company formation with bank account is one of the rising popular options among various foreign investors. The island is located off the eastern coast of Africa in the Indian Ocean and the jurisdiction of Seychelles is often associated and commonly known to be popular tourist destinations, with its main economic activities revolving around tourism and fishing. In an effort to transit itself into a financial services hub, Seychelles maintained a pro-business stance and passed the Seychelles Investment Act which makes foreign investors who wish to incorporate in Seychelles possible but restrictions are placed upon industries that are active with local businesses such as taxi or...

International Business Companies (Amendment) Act, 2021 in Seychelles requires all companies (IBCs) to produce their accounting records 2 times per year and be kept at the registered office in Seychelles. The accounting periods runs from 1st Jan to 30th June and from 1st July to 31st Dec. The accounts should be sent to the Seychelles agent by the 21st of either July or January. Late filing will incur penalties specified by the registered agent. It is essential that you keep up to date with your accounting records filings. If you want to know more or require assistance, please do not hesitate to contact us: Whatsapp : (852) 6499 4686 Phone : (852) 2186 6936 Email :...

Overview Seychelles International Business Companies are useful alternatives to offshore companies established in jurisdictions such as the British Virgin Islands. In December 1994 the Seychelles enacted legislation enabling the registration of International Business Companies, International Trusts and the licensing of International (free) Trade Zone Companies. More recent legislation covers the licensing of offshore banks, offshore Insurance, mutual funds activities and the regulating of a securities industry. The new laws were a result of intensive studies of long established offshore jurisdictions and world-wide trust legislation. Although not dissimilar to those of the...

Seychelles’s compliance assessment rating has dropped from “basic compliance” to “partial compliance” during OECD's 2020 review. In response to this, the Seychelles authority has promulgated the International Business Companies (Amendment) Act 2021 this August. We outline below some key highlights: 1. Clause 175 amendment stipulated that companies have to keep their financial records in Seychelles which allow inspection by Financial Services Authorities (FSA). 2. Clause 169 (a) requires companies to keep information about all transactions for at least seven years, even if the company has been dissolved or revoked. New accounting record...