🇸🇨 Legislation18 Dec 2024
Seychelles requires nominators in the register of members and speeds up strike-off
Seychelles' International Business Companies (Amendment) Act 2024 (Act 19 of 2024), signed on 16 December 2024 and in force from 18 December, requires the details of anyone for whom a nominee holds shares to be entered in the register of members. Changes to registers must be filed within 30 days, former registered agents must hand over records within 30 days, and companies that do not pay annual fees are struck off after 180 days.
The amendment follows Seychelles' supplementary review against the international standard on exchange of information on request.
What changed
- Nominators: where a nominee holds shares for another person, the nominator's details go in the register of members: for an individual, name, address, date of birth and nationality; for a company, name, address and date and place of incorporation.
- Register changes: changes to the registers must be filed within 30 days.
- Inspection: a duly appointed attorney of a director or member can inspect the registers.
- Change of registered agent: the former agent must transfer company records to the new one within 30 days of the appointment.
- Strike-off: a company that does not pay its annual fees is struck off after 180 days, the Registrar publishes a notice, and a struck-off company is dissolved automatically. Restoration can be applied for within five years.
Who is affected
Seychelles international business companies and their registered agents.
What to do
Record nominator details for every nominee shareholding, and pay annual fees on time.