Seychelles is known as an advantageous offshore destination which is why many investors decide to open companies here. Even so, Seychelles has well-defined regulations and provides for specific requirements before and after registering a company. In order to avoid complications and to make sure they comply with the local laws, foreign businessmen usually request fiduciary services.
An interesting fact about Seychelles is that the Financial Services Authority has encompassed clear rules about fiduciary services in the International Corporate Service Providers Regulations which was last amended in 2014. Our company formation agents in Seychelles can offer information on these rules.
We also invite you to watch our video on fiduciary services in Seychelles:
What are fiduciary services under the Seychelles legal framework?
Fiduciary services are usually employed by companies operating in the financial industry, which is why they are regulated by the Financial Services Authority in Seychelles. These services are offered by companies or individuals who take on the role of acting in the best interest on behalf of a third party.
Offering fiduciary services in Seychelles often implies managing assets of a third party. These services are offered by financial advisors, accountants, and in the case of companies registered in Seychelles, the fiduciary role can be assigned to one of the managers or one of the management board members. Our Seychelles company formation consultants also offer fiduciary services.
What are the fiduciary services available in Seychelles?
Fiduciary services can also be offered by individuals or companies independent from the management of an entity in Seychelles. It is a common practice for the fiduciary services in Seychelles to include:
- nominee services;
- fiduciary management services;
- trustee services.
Nominee services are among the most employed fiduciary services in Seychelles and can refer to:
- nominee shareholder services;
- nominee director services;
- nominee secretary services.
Fiduciary services in Seychelles can apply for a variety of business structures, there are not necessary only for corporate entities. They can be established in a trust or in a foundation. They are established between a specialist, such as our consultants in company formation in Seychelles, and various clients, with the purpose of managing specific assets. Our team can also help you incorporate a Seychelles IBC.
What are nominee director services in Seychelles?
A part of the process of company formation in Seychelles is to appoint a director, who will be responsible for specific corporate tasks. The legislation in Seychelles allows investors to appoint a nominee director, whose primary task is to work on behalf of the beneficial owner of the company.
These procedures are considered fiduciary services in Seychelles, as a party develops specific work/business tasks in the benefit of another party (in this case, the owner of the company). The main tasks for a nominee director in Seychelles are:
- to act on behalf of the company in the relation with various parties, including institutions;
- to protect the identity of the company’s owner in the relation with other third parties (that are not governmental entities);
- to sign various agreements, contracts and other documents on behalf of the owner.
It must be noted that a nominee director can acquire these rights only with the written consent of the owner of the company, and this is done only through the power of attorney, which will specifically mention the ways in which the nominee director can act.
Otherwise, the nominee director doesn’t have any specific powers associated with the function. You can learn more about the tasks that a nominee director can have from our team of consultants in company formation in Seychelles. Our specialists can also present the basic requirements for Seychelles offshore company.
You should know that if you want to appoint a nominee director, our consultants, who can help you open a company in Seychelles, can also act as nominee directors. They also have the capability to provide other fiduciary services in Seychelles, in accordance with your needs. Fiduciary services are available for Seychelles offshore businesses as well.
How can our team help foreign clients?
Our fiduciary services in Seychelles are designed for a wide range of corporate needs (our team can set up companies and act on behalf of the clients after signing the power of attorney, the sole document that grants the right to legal representation). In the list below, you can discover some of our basic services:
- company formation in Seychelles;
- management services (including nominee director, secretary services, accounting);
- professional assistance in setting up securitization vehicles and investment funds;
- offshore incorporation;
- we can help you set up trusts and foundations;
- we can also assist in offering post-incorporation services, which include tax registration and tax compliance.
Please mind that the persons/companies that provide any type of fiduciary services in Seychelles can be brought in front of the court or face other types of consequences (such as financial) provided that they do not comply with the tasks that they have agreed to perform in the benefit of the owners.
Such stipulations are prescribed by various legislations, regulated by the Financial Services Authority of Seychelles. You can find out below some of these rules:
- rules on fiduciary are presented in the International Business Companies Act 2016;
- the local courts can issue a disqualification order based on the person’s faulty conduct if the person breached the fiduciary services that he or she was required to provide, as per the rules of the Section 266 (1);
- consequences of this nature can appear during the winding up of a company – Section 337(1)c;
- fiduciary services in Seychelles are also customarily for those who set up a trust – the Trust Act 2021 Section 14 (1).
We invite you to request additional information on other fiduciary services in Seychelles that our team can provide. We welcome foreign clients to address our team for information on other ways in which we can assist, including in business immigration matters.
All fiduciary services offered in Seychelles are bound by strict regulations imposed through contracts. If you need fiduciary services for your company in Seychelles, do not hesitate to contact us. Our local company registration agents can also help you with company incorporation in Seychelles.