Regulatory Alerts2021-01-01
International Business Companies and Related Laws (Amendment) Act 2021
The President and National Assembly of Seychelles issued this 2021 amendment to update the International Business Companies, Limited Partnerships, Foundations, and Trusts Acts. The legislation mandates that companies, foundations, limited partnerships, and trusts notify their registered agents of the physical location of original accounting records kept within Seychelles. A retroactive provision requires entities maintaining records abroad to lodge seven years of accounting documents at their Seychelles registered offices within six months, while also increasing statutory penalties and clarifying court enforcement powers.
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