Regulatory Alerts2019-01-01
Clarifications on Core Income Generating Activities
The Financial Services Authority of Seychelles issued this circular to clarify substantial activity requirements for licensed financial entities seeking preferential tax rates under the Securities and Mutual Fund and Hedge Fund Acts. Licensees must ensure their core income generating activities are performed in a physical Seychelles office, though front-office functions may be conducted abroad if middle and back-office operations remain local. Existing licensees approved by October 16, 2017, may defer compliance until June 30, 2021, excluding any newly introduced assets or activities.
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