Regulatory Alerts2022-07-15
Foundations Guidelines
The Financial Services Authority of Seychelles issued these guidelines to implement the Foundations Act 2009 and clarify compliance procedures for International Corporate Service Providers. The document mandates that foundations operate as separate legal entities with distinct assets, requiring a written charter, registered agent, and council to manage operations while ensuring anti-forced heirship protections. It further outlines mandatory registration processes, annual renewal fees of US$200, strict accounting record-keeping for seven years, and specific governance rules for protectors and beneficiaries.
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