Regulatory Alerts2021-01-01
Seychelles Trusts Act, 2021 (Consolidated to September 30, 2022)
The Financial Services Authority of Seychelles enacted this legislation to establish a comprehensive legal framework for creating, registering, and administering trusts. The Act mandates written trust formation, requires approved trustees to file appointment declarations with a central register, and defines the duties, powers, liabilities, and remuneration of trustees, protectors, and enforcers. It grants the Supreme Court broad jurisdiction to vary trust terms, set aside property transfers due to mistake, and relieve trustees from personal liability while ensuring indefinite duration, robust asset protection, and recognition of foreign trusts.
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