Registering a trust in the Seychelles enables its founders to reliably protect their assets; it also helps them limit their liability regarding their business. Those seeking to register a trust in the Republic of Seychelles should remember that no less than of their trustees must reside in the Republic of Seychelles & have a corresponding license obtained as per the ICS Law. Trustees are also required to submit a PoA to the local financial regulator.
Setting a trust in the Republic of Seychelles requires its founder not to live in Seychelles for the duration of its operation.
Property held by trusts mustn’t include:
- immovable property located in the Republic of Seychelles;
- debentures, stakes or interests in any other entities excluding legal entities registered as per legislation of other countries.
Trustees of a Seychelle trust are eligible to:
- own property which is to be used for opening an office;
- undertake investments in securities;
- open an account with a bank in the Republic of Seychelles which will be used for making payments necessary for running a trust in the Republic of Seychelles.
Registration of a trust in the Republic of Seychelles can also be done through trustees or via submitting a special application form or affidavit (oath certificate). A certificate of registration along with a corresponding number is issued following creation of a trust in the Republic of Seychelles. Data related to registration is entered & kept in the International Trusts Register .
What’s It Take to Set Up a Trust in the Republic of Seychelles?
A confirmation will be necessary that:
- founders of a trust are non-residents;
- no immovable property is owned by a trust in the Republic of Seychelles;
- trusts held by trustees represent international trusts.
Please keep in mind that disclosing any data contained in a trust’s declaration is explicitly prohibited. In particular, it applies to:
- identities of founders;
- beneficiaries’ identities, unless they reside in the Republic of Seychelles or are Seychelle corporate residents.
Courts in the Republic of Seychelles courts have the exclusive prerogative to administer justice in all trust-related matters.
Considering setting up a trust in the Republic of Seychelles? Looking for professional advice on regulation of trust companies in the Republic of Seychelles? Why not reach out to IQ Decision UK?