Seychelles and UK Authorities conduct six month review of UK-Seychelles Economic Security Agreement
May 16, 2025
The British High Commission and the Ministry of Finance, National Planning and Trade met yesterday for the first official review of the UK-Seychelles Economic Security Partnership.
The review was co-chaired by British High Commissioner, Jeff Glekin and Secretary of State for Finance, National Planning and Trade, Mr. Patrick Payet, and brought together key stakeholders including representatives from His Majesty’s Revenue and Customs (HMRC), Mr. Joe Daly and Mr. Tom Gardiner, as well as senior officials from the Anti-Corruption Commission Seychelles (ACCS), Financial Intelligence Unit (FIU), Financial Services Authority (FSA), and the Seychelles Police Force.
The UK confirmed additional funding to increase corporate transparency in Seychelles and to develop digital forensic capability. Both are key components of making Seychelles safer and more prosperous. The security partnership will oversee a project to establish a more accessible Beneficial Ownership Register Information Technology System in Seychelles to enhance financial transparency and accountability, aligning Seychelles with international best practices.
Both countries welcomed the significant progress achieved since the agreement was signed in October last year during the visit of Lord Collins of Highbury, the British Minister for Africa. The partnership includes commitments to work together on Transparency, Anti-Corruption, Virtual Assets and Policing with the aim of reducing vulnerabilities, tackling financial crime and ultimately making Seychelles and the UK safer and more secure places to do business.
British High Commissioner, Jeff Glekin, said “This partnership reflects the UK’s commitment to supporting Seychelles in building a secure, transparent, and resilient economy. The progress made in just six months is really encouraging, and I look forward to deepening our cooperation in the months ahead.”
SS Patrick Payet noted “the government is committed to ensuring that the partnership is impactful and that is why since its signing last October, a lot of groundwork has taken place to ensure its operationalisation. It provides a general framework to enhance collaboration in areas most needed by Seychelles, such as the fight against corruption, increasing transparency and improving the quality of information. We look forward to solidifying this collaboration.”
Both parties reaffirmed their commitment to continue the long-standing partnership through the International Anti-Corruption Coordination Centre (IACCC) and explore opportunities for a bilateral asset return agreement. This would ensure that illicitly acquired assets are recovered and returned to the people of Seychelles.
Deepening the existing bilateral partnership on virtual assets, the UK and Seychelles discussed how their respective tax authorities could collaborate in taking forward operational matters.
To conclude the meeting, British High Commissioner, Jeff Glekin, alongside Mr. Daly and Mr. Gardiner from HMRC, presented a commemorative plaque to SS Payet. Both sides are keen to meet again at the one-year review point towards the end of the year.