14 December 2018
Dear ,
Amendment to the Seychelles International Business Companies Act, 2016
The International Business Companies Act, 2016 has been amended with effect from 30 November 2018, by the International Business Companies (Amendment) Act, 2018 (the "Amendment Act").
The changes introduced by the Amendment Act are set out in our detailed note, which can be found here.
Please also refer here for the Press Release issued by the Financial Services Authority of Seychelles ("FSA") relating to the Amendment Act and here for the FSA Circular in respect of the Filing of the Register of Directors.
The key changes relate to the register of directors that must be kept by all Seychelles international business companies.
While there remains the requirement for a company to file its register of directors with the Registrar, such information will not be publicly available. It was originally intended that there would be public access from 1 December 2018. In addition, the fines for a failure to file the register of directors have been reduced.
The changes re-enforce the importance that the Government attaches to the progress of its international financial services sector, in a view to become a leading center of the region.
Should you have any questions on the International Business Companies (Amendment) Act, 2018, please do not hesitate to contact us or your usual Vistra representative.
Yours sincerely,
Vistra Administration Services Limited
