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Seychelles: International Business Companies Act, 2016

The International Business Companies Act, 2016 came into force on 1 December 2016 and is now the legislation governing Seychelles international business companies. This replaced the International Business Companies Act, 1994.

There are some significant changes to the regime and our detailed note on the new Act can be found here. The more important changes include:

  • the requirement to keep and maintain an internal register of beneficial owners. This register need not be filed with the Registrar; and
  • the obligation to file the company's register of directors with the Registrar.

In both cases, companies in existence on 1 December 2016 will have 12 months in which to comply with these requirements.

We will release further blogs in the coming weeks in respect of particular aspects of the new Act.

We believe that the new Act is an important development for the Seychelles enabling it to meet FATF standards and bringing it into closer line with other comparable jurisdictions.

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 Philip Jacques

Philip Jacques

Senior Legal Advisor 
T: +44 (0)117 918 1381

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