Seychelles IBC Law amendment
  • admin
  • 4 February 2014
  • News

On 5th december 2013 an important amendment has been published regarding IBC Seychelles law. It’s very important because it changes some important aspects of the law governing IBC companies in Seychelles. It impacts on annual report and on emission of shares. In particular as follows:

  • the company has to keep company records and such records can be made available to registered agent;
  • the share register is at registered office and always complete and uptodate;
  • no more bearer shares. Company that has issued bearer shares in the past, must recall the shares and re issue new registered shares. Bearer shares not recalled are void;
  • since now on no more bearer shares are permitted and director cannot issue them anymore;

It seems that Seychelles in this act would like to align itself to the new anti money laundering scenarios that are arising also in the so called fiscal havens as Seychelles is. The removal of bearer shares is a very impacting measure that would change perhaps the feeling that people have regarding the ibc limited company formed under the laws of Seychelles. Also the need to keep company records is a known and safe place is a new measure very important and with large impact on existing companies. Director should contact their advisors to have a full vision of the changements, because the penalties are very important.

 

 

Google+