Key Changes to the Seychelles Beneficial Ownership Act

The Seychelles have enacted the Beneficial Ownership (Amendment) Act, 2022 with effect from 30 December 2022. This new legislation replaces the Beneficial Ownership Act, 2020 (originally enacted on 28 August 2020) for the purpose of ensuring Seychelles’ on-going compliance with international standards.

Below are some of the key changes under the new legislation:

  • New/additional information requirements on Register of Beneficial Owners
  • ­­Companies’ obligations and other legal arrangements
  • Listed companies’ new definition and requirements
  • Registrable Legal Persons
  • Extended notice periods for Beneficial Owners
  • Retention period

For full details on the above, please refer to the link here.

Reference materials: