Amendments to Limited Partnership Act 2023 are approved by the National Assembly
July 23, 2025
The National Assembly has also approved changes to the Limited Partnership Act, 2023 for disclosure of nominee partner in a Limited Partnership.
The changes which were approved, are the same as the newly approved revisions in the IBC Act 2016 in reference to nominees, such as appointment, the limited time period for them to disclose their nominee status, applied sanctions in case of noncompliance, amongst many other proposed changes.
Additionally, the changes will also allow for Limited Partnership registered in Seychelles to pay business tax and lift the restriction on the type of activities they could conduct locally, provided such activities are in line with all legal framework.
Vice President Ahmed Afif, the Minister for Finance, National Planning and Trade explained the changes are important to enable conformity to international standards imposed by FATF and OECD.
“The changes are meant to ensure our system is clear, transparent and responsible. By continuously strengthening our laws we will improve the credibility of our jurisdiction and retain the confidence of all partners involved in the sector.”