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The Beneficial Ownership Act, 2020 (the “Act”) (originally enacted on 28 August 2020), has been amended by the Beneficial Ownership (Amendment) Act, 2022 (the “Amendment Act”) with effect from 30 December 2022.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 details) to be uploaded onto the Seychelles Government Database.
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Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice. |
