Regulatory Alerts2018-02-06
Central Bank of Seychelles Circular on Unimpaired Paid-Up Capital for Bureaux de Change
The Central Bank of Seychelles requires all Bureaux de Change to maintain minimum unimpaired paid-up or assigned capital of SCR500,000 for Class A and SCR50,000 for Class B entities. This circular clarifies the computation methodology by mandating that paid-up ordinary shares, non-cumulative perpetual preference shares, share premium, statutory reserves, and retained earnings be aggregated to determine impairment status. Capital is deemed unimpaired when this aggregate sum exceeds the nominal value, whereas any shortfall below that threshold constitutes impairment.
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