Regulatory Alerts2025-01-01
Limited Partnerships (Amendment) Act, 2025
The President and National Assembly of Seychelles enacted the Limited Partnerships (Amendment) Act, 2025 to update registration requirements and strengthen nominee partner regulations under the principal Limited Partnerships Act. The legislation mandates that nominee partners submit status declarations and change notifications within twenty-one days, while granting limited partnerships the authority to restrict or cancel interests of non-compliant nominees and imposing fines up to US$10,000 or one year imprisonment for false filings. Existing nominee partners must comply with the new declaration framework by 15 July 2025, and partnerships are required to maintain all related records at their Seychelles registered office for a minimum of seven years.