The recent amendment to the Beneficial Ownership Act, 2020 imposes new requirements on Seychelles IBCs, which should be complied with by the end of 2023. One of the main changes brought about by the amendment is the requirement to provide the National Identification Number or equivalent (NIN, if any) and the Tax Identification Number or equivalent (TIN, if any) for the beneficial owner as well as the nominee (if any).
This amendment requires that all Seychelles IBCs re-file the new format of Register of Beneficial Owner with the Financial Intelligence Unit (FIU). Therefore, below you will find the new format of the Register of Beneficial Owner as well as the Declaration of Beneficial Ownership.
Please send us a copy of the completed documents no later than 30th November 2023 so as to ensure that we can attend to re-filings in time and avoid penalties. The information on the Register of Beneficial Owner remains private and it is not publicly available.
In view of the requirement for the NIN and TIN, we will require a copy of a valid national identification card or equivalent and a proof of tax residency document (if any), to ensure that correct and accurate information is uploaded at the FIU database platform.
Should you have any questions regarding this matter, please contact us at seychelles@icazalaw.com.
