Regulatory Alerts2003-01-01
Companies (Special Licences) Act, 2003
The Financial Services Authority of Seychelles issued this Act to establish a streamlined incorporation and continuation framework for international business companies and foreign entities under a Special Licence regime. It requires applicants to obtain Authority approval and appoint a resident secretary, prohibits bearer shares, and grants eligible companies ten-year exemptions from stamp duty, exchange control rules, trades tax, and social security contributions. The legislation further enforces strict confidentiality regarding shareholding records, defines specific grounds for licence revocation and court relief, and permits electronic meetings while preserving all pre-existing liabilities and legal proceedings.
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