Due Diligence or KYC
Due Diligence or KYC
Why do you need our passports and other documents and information?
Licensed business service providers, consultants, incorporation companies and trustees in Seychelles are bound by certain laws and regulations. These regulations require that we screen our clients through a process called. due diligence or KYC (Know your customer).
This process requires that we require certain documents to verify the identities and addresses of the individuals we deal with in the formation and administration of offshore companies, trusts, foundations and other entities. All reputable agents and service providers in all reputable jurisdictions have the same requirement.
We will also need to ask for other information about you and your intended activities in order to build a profile to ensure that you are acting in accordance with Seychelles laws and regulations. This profile may also help us to identify unauthorised activities, such as gambling, i.e. activities that you have not authorised in the event that a third party, such as a foreign intermediary or other connected person does not follow the instructions you have set.
Please note that all this information is stored privately in our records only. The documents and information are not filed publicly or online and the Seychelles Constitution requires absolute confidentiality. We are also required to keep the documents and information confidential. Only the courts of Seychelles are allowed to make the documents and information publicly available. We have a Criminal Investigation Unit (FIU) with the power to request documents during a criminal investigation (prior to a court case) but they too are bound by law to maintain confidentiality.
You can find more and further information in our Lexicon/Glossary or in the IBC Act.
