amendments to seychelles legislation

8/10/2019 Amendments to Seychelles Legislation

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1. Register of Members

in Seychellesor

Action Required:Each IBC needs to ensure that it maintains its register of members in Seychelles. Wherean IBC does not currently maintain its register of members in Seychelles, it must resolveto maintain such register in Seychelles and ensure that such register is transferred toSeychelles.

2. Register of Directors & Officers

Action Required:

Each IBC needs to ensure that it provides its registered agent with the relevantinformation to allow a register of Directors and Officers containing the information setout above to be maintained.

3. Registered Offi ce

same

Action Required:

Each IBC should ensure that its registered address is the same address as that of itsregistered agent.

4. Accounting Records



true and fair view

Action Required:Each IBC should ensure that it maintains adequate accounting records and, where suchaccounting records are not maintained at the registered office of the IBC, inform itsregistered agent of the physical location as to where such accounting records are kept.

5.

Records of Minutes & Resolutions

Action Required:Each IBC should ensure that where the copies of minutes of meetings and resolutionsrelating to its affairs are kept at a place other than the registered office of the IBC, theIBC should inform its registered agent of the place at which such minutes and resolutionsare kept.

6. Official Search

Note:It will no longer be possible to obtain details of charges that have been registered againstthe assets of an IBC from the Seychelles International Business Authority. Only the

existence and number of such registered charges will be made available.




true and fair view

Action Required:

Each Limited Partnership must maintain adequate accounting records and ensure that itsGeneral Partner maintains a written record of the place where such accounting recordsare kept.



1. Appointment of Beneficiary

Note:Need to be aware of the requirement to include such information in the establishment ofany new foundations.


Action Required:Each Foundation must maintain adequate accounting records and ensure that itsRegistered Agent is kept informed of the place where such accounting records are kept.

3. Information to be contained in registers

Action required:Each Foundation must provide its registered agent with the relevant information to allowthe registers required by law to be maintained.



4.

Register of Beneficiaries

Action Required:

Each Foundation must ensure that its registered agent is provided with the relevantinformation to allow a register of beneficiaries to be maintained.

5.

Register of Founders

Action Required:Each Foundation must ensure that its registered agent is provided with the relevantinformation to allow a register of founders to be maintained.

6.

Compliance Inspection

Action Required:Each Foundation must ensure that its registered agent is provided with the relevantinformation to allow its registered agent to facilitate any compliance inspection and torespond to requests from the Registrar in relation to the foundation.

7. Direction from the Court

Note:Each Foundation should be aware of the new law allowing a councillor to seek directionsfrom the Supreme Court of Seychelles with respect to the manner the council is to act inrespect of a decision affecting the Foundation.



1. Trustee

Action RequiredEach International T rust must ensure that at least one of i ts trustees is a companylicensed under the International Corporate Service Providers Act to provide internationaltrustee services.


true and fair view

Action Required:

Each International Trust must maintain adequate accounting records and, where suchaccounting records are not maintained at the trustee’s principal place of business keep awritten record of such other place at its principal place of business in Seychelles.

3. Registers



Action Required:Each International Trust must ensure that its trustees are provided with the relevantinformation to allow a register of trustees, beneficiaries and settlors to be maintained.

4. Compliance Inspection

Action Required:Each International Trust must ensure that its trustees are provided with the relevantinformation to allow such trustees to facilitate any compliance inspection and to respondto requests from the Registrar in relation to the International Trust.

amendments to seychelles legislation

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