Regulatory Alerts2009-01-01
Foundations Act, 2009
Issued by the Seychelles International Business Authority, this Act establishes a comprehensive legal framework for creating and governing foundations with separate legal personality. It mandates the submission of a written charter detailing names, objects, initial assets (minimum US$1), and governance structures comprising councils, registered agents, and protectors. The legislation further regulates asset management, beneficiary rights, anti-forced heirship protections, and the statutory procedures for registration, continuation, consolidation, and dissolution.
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