Compliant Check for Seychelles IBC's

As advised earlier this year the amended IBC Act imposes certain records keeping requirements on each Seychelles IBC, namely:

1. To keep Registers of Directors and Shareholders at the Registered Office

2. To provide the address for keeping accounting records to the Registered Agent (by way of written consent/resolution)

In addition the amended IBC Act eliminated bearer shares provisions and as such all bearer shares should have been exchanged to registered by 16 June 2014, failing which the shares became void and nulled.

It was noticed, that your portfolio of companies includes IBCs which failed to provide us with either of the above-required information/documents. In order to avoid further non-compliance with the current legislation we advise you urgently to attend to the list of IBCs attached and send us relevant documents and information.

We remind you that failure to do so will trigger penalties on companies and its' directors for non-compliance with records keeping requirements under IBC Act.