Regulatory Alerts2021-01-01
Limited Partnerships (Amendment) Act, 2021
Enacted by the President and National Assembly of Seychelles, this Act amends the Limited Partnerships Act (Cap 281) to strengthen regulatory oversight and operational requirements for limited partnerships. It mandates that every partnership maintain a Seychelles-based licensed registered agent and align its registered office with the principal place of business, while updating financial reporting obligations to include annual summaries and bi-annual accounting records. The legislation increases statutory penalty caps for non-compliance to ten thousand US dollars, requires registered agents to preserve partnership records for at least seven years, and grants a six-month transition period for full compliance.
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