“We want to revise the beneficial ownership database, and we are being assisted by the U.K. to implement a new framework,” said Secretary of State Patrick Payet, according to the government-funded Seychelles News Agency.
The archipelago, comprising 115 islands in the Indian Ocean off East Africa, has long been an attractive tax haven for international business. Companies operating there are exempt from taxation on income generated outside the country, and the country’s confidentiality laws protect the privacy of business owners and their financial dealings.
This made Seychelles a magnet for wealthy individuals and corporations seeking to exploit its corporate secrecy and tax advantages.
In 2023, the country was placed on the EU’s blacklist of uncooperative tax havens but was moved to the gray list in February this year after it began cooperating.
Under Tuesday’s agreement, Seychellois financial institutions, including the Financial Investigations Unit, will collaborate with their British counterparts to strengthen their ability to analyze beneficial ownership information and counter illicit financial activities.
The U.K. will also support the Anti-Corruption Commission Seychelles and the national police in investigating corruption cases.
Press Release from Carey Olsen, Friday 19 September, 2025. Carey Olsen senior associate Kieran Ogilvie and associate Theo Hannah have been admitted as Advocates of the Royal Courts of Guernsey. Kieran
Today, the European Commission decided to refer Spain to the Court of Justice of the European Union for failure to ensure correct implementation of the Merger Directive on the common system of taxation
While Singapore still holds advantages in location, language proficiency, and financial services, rising costs are prompting Japanese and European companies to consider relocating specific functions,
he Internal Revenue Service (IRS) has announced it will crack down on ultra-rich earners who have not filed tax returns in recent years. Starting this week, the government agency will attempt to claw