Six financial services Bills being presented this week in the NAS

July 26, 2021

Six Bills are to be presented, debated and approved before the National Assembly this week.

All six bills will be presented by the Minister for Finance, Economic Planning and Trade, Naadir Hassan.

The bills are:

  •        Companies Special Licenses (Amendment) 2021
  •        Foundations (Amendment) 2021
  •        International Corporate Service Providers (Amendment) 2021
  •        International Business Companies (Amendment) 2021
  •        Limited Partnership (Amendment) 2021
  •        Trust Bill 2021

To note, while five of the six bills are amendments to be approved to the existing Act, the Trust Bill is a new one, to replace the International Trusts Act, 1994.

The six bills being presented are part of Seychelles’ ongoing effort to be removed on the OECD list of countries that are ‘non-cooperative’, for tax purposes.

Since the start of the year, several laws have been amended to ensure Seychelles honours its international obligations and meet the standards set by the Financial Action Task Force (FATF) and OECD.

Below are the links to the six Bills being presented this week in the National Assembly for approval.

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