Regulatory Alerts2012-11-21
Added · Updated
Foreign Exchange (Amendment) Act, 2010
Issued by the President and National Assembly of Seychelles, this legislation amends the Foreign Exchange Act, 2009 to modernize cross-border currency regulations. The Act repeals specific transaction definitions, exempts licensed hotels from certain business restrictions when handling limited client transactions, and explicitly authorizes foreign currency bank accounts for international payments and transfers. Additionally, it updates invoicing terminology and requires that all currency conversions be calculated using exchange rates published by banks, subject to reasonable commissions.
Topics
fx
payments
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