On 17th February 2026, the Council of the European Union (the Council) updated the EU list of non-cooperative jurisdictions for tax purposes, and removed Seychelles from Annex II of the list (the so-called greylist), recognizing Seychelles fulfilling its commitments related to tax transparency, particularly the Seychelles achieving a rating of Largely Compliant against the standards on Exchange of Information on Request (EOIR).
Seychelles welcomes and appreciates the EU’s recognition of the significant progress that the country has made in promoting tax transparency and in fulfillment of its commitments in this regard. The Government has maintained a continued commitment to high standards of financial integrity and cooperation with international partners, and has undertaken substantive reforms since April 2020 to reach this point.
Seychelles’ removal from the list altogether last week follows the Global Forum’s publication of the Peer Review Report on Transparency and Exchange of Information on Request for Seychelles in January 2026, finding Seychelles to be Largely Compliant with the EOIR standards. As a result of this improved rating, Seychelles has been able to demonstrate to the EU that it has fulfilled the tax transparency criteria.
Minister for Finance, Economic Planning, Trade and Investment, Mr. Pierre Laporte, stated:
“The Government greatly welcomes the Council’s decision to remove Seychelles from Annex II of the EU list. This determination provides an accurate reflection of the country’s progress and steadfast commitment to international best practices in tax transparency and exchange of information.
This milestone has been achieved through sustained legislative reform, institutional strengthening, and constructive engagement with the EU and international partners. We reaffirm our commitment to tax good governance principles and to maintaining Seychelles as a reputable, transparent, and cooperative financial jurisdiction. As we continue to demonstrate the country as a reputable financial jurisdiction, we remain focused on fostering an increasingly attractive environment for investment and continued economic growth.”