{"id":18647,"date":"2018-12-20T20:53:43","date_gmt":"2018-12-20T19:53:43","guid":{"rendered":"https:\/\/offshore.sc\/?p=18647"},"modified":"2018-12-20T20:53:43","modified_gmt":"2018-12-20T19:53:43","slug":"international-business-companies-amendment-act-2018","status":"publish","type":"post","link":"https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/","title":{"rendered":"Amendments to the International Commercial Companies Act 2016"},"content":{"rendered":"<div id='av_section_1'  class='avia-section av-6g4m14-5e2376dba9c1abb9f0512caa38afe47b main_color avia-section-default avia-no-border-styling  avia-builder-el-0  avia-builder-el-no-sibling  avia-bg-style-scroll container_wrap fullsize'  ><div class='container av-section-cont-open' ><main  role=\"main\" itemprop=\"mainContentOfPage\"  class='template-page content  av-content-full alpha units'><div class='post-entry post-entry-type-page post-entry-18647'><div class='entry-content-wrapper clearfix'>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kgo16oke-9114f41a205a00addbaf41c2e10d98bf\">\n#top .av-special-heading.av-kgo16oke-9114f41a205a00addbaf41c2e10d98bf{\npadding-bottom:30px;\n}\nbody .av-special-heading.av-kgo16oke-9114f41a205a00addbaf41c2e10d98bf .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kgo16oke-9114f41a205a00addbaf41c2e10d98bf .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kgo16oke-9114f41a205a00addbaf41c2e10d98bf av-special-heading-h1 blockquote modern-quote modern-centered  avia-builder-el-1  el_before_av_icon_box  avia-builder-el-first  av-linked-heading'><h1 class='av-special-heading-tag'  itemprop=\"headline\"  >New adoption of the IBC ACT 2016<\/h1><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<article  class='iconbox iconbox_top av-jvmbu4li-d80bcf21a5e47113f31252af23a35f39  avia-builder-el-2  el_after_av_heading  el_before_av_heading  main_color'  itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class=\"iconbox_content\"><header class=\"entry-content-header\" aria-label=\"Icon: \"><div class='iconbox_icon heading-color avia-iconfont avia-font-entypo-fontello' data-av_icon='\ue81f' data-av_iconfont='entypo-fontello'  ><\/div><\/header><div class='iconbox_content_container'  itemprop=\"text\" ><h3>The publication of the directors of an offshore IBC company of the Seychelles was withdrawn<\/h3>\n<\/div><\/div><footer class=\"entry-footer\"><\/footer><\/article>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kgo13xax-237975282aa53d86edac3b0f7b31cc3f\">\n#top .av-special-heading.av-kgo13xax-237975282aa53d86edac3b0f7b31cc3f{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-kgo13xax-237975282aa53d86edac3b0f7b31cc3f .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kgo13xax-237975282aa53d86edac3b0f7b31cc3f .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kgo13xax-237975282aa53d86edac3b0f7b31cc3f av-special-heading-h4 blockquote modern-quote modern-centered  avia-builder-el-3  el_after_av_icon_box  el_before_av_hr  av-linked-heading'><h4 class='av-special-heading-tag'  itemprop=\"headline\"  ><a class=\"av-heading-link\" href=\"https:\/\/offshore.sc\/en_us\/blog\/\" target=\"_blank\"  rel=\"noopener noreferrer\" >The Offshore Blog of, 20.12.2018<\/a><\/h4><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div>\n<div  class='hr av-86748-9671f82ffb78029484e3251cb8789a8f hr-default  avia-builder-el-4  el_after_av_heading  el_before_av_one_half'><span class='hr-inner'><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-4aa6oo-499fd430a92ef8568528af148a51ffaf\">\n.flex_column.av-4aa6oo-499fd430a92ef8568528af148a51ffaf{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-4aa6oo-499fd430a92ef8568528af148a51ffaf av_one_half  avia-builder-el-5  el_after_av_hr  el_before_av_one_half  first flex_column_div av-zero-column-padding'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kgo17u9b-34a3e664be3512f5bf9118294e41ce83\">\n#top .av-special-heading.av-kgo17u9b-34a3e664be3512f5bf9118294e41ce83{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-kgo17u9b-34a3e664be3512f5bf9118294e41ce83 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kgo17u9b-34a3e664be3512f5bf9118294e41ce83 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kgo17u9b-34a3e664be3512f5bf9118294e41ce83 av-special-heading-h2  avia-builder-el-6  el_before_av_textblock  avia-builder-el-first'><h2 class='av-special-heading-tag'  itemprop=\"headline\"  >Renewal of the IBC Act 2016<\/h2><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-jvl2075a-6e4ae5340fe0a2148cb3c2be85fcda2e'   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div style=\"text-align: justify;\">\n<p>In a possible renewal and extension of the IBC Act 2016, a new subsection, of Section 152, required companies registered in Seychelles to file a list of directors. They had until 1 December 2018 to comply.  This list of directors would then be publicly available.<\/p>\n<p>In addition, another subsection of the, Section 152 also required a private register, for official use only, containing a list of the beneficial owner(s). However, this subsection was very controversial.<\/p>\n<\/div>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kgo1bdy9-a94ef13873847427e67fc3f5735fed9b\">\n#top .av-special-heading.av-kgo1bdy9-a94ef13873847427e67fc3f5735fed9b{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-kgo1bdy9-a94ef13873847427e67fc3f5735fed9b .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kgo1bdy9-a94ef13873847427e67fc3f5735fed9b .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kgo1bdy9-a94ef13873847427e67fc3f5735fed9b av-special-heading-h3  avia-builder-el-8  el_after_av_textblock  el_before_av_textblock'><h3 class='av-special-heading-tag'  itemprop=\"headline\"  >Pressure from start-up agencies in Seychelles<\/h3><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-kgo1b6wr-74ad474b7573186ff322fc6c46dacd7e'   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div style=\"text-align: justify;\">\n<p>The offshore sector protested against this subsection and the argument was made that many companies registered in Seychelles would simply move to other jurisdictions after the implementation of the subsections of Section 152. The Seychelles government was initially unimpressed by the rebuttals, pointing out that a public register of company ownership would quickly become a regulatory requirement in all jurisdictions worldwide. However, this remains not the case and only a limited number of jurisdictions have introduced this measure.<\/p>\n<p>In order for Seychelles to continue to have a strong, unrestricted offshore financial sector that all founders and beneficial owners can rely on, this amendment needed to be prevented. The Member of the National Assembly, Mr. Ahmed Afif recognized this and proposed to suspend the relevant subsections of Section 152 with immediate effect.<\/p>\n<\/div>\n<\/div><\/section><br \/>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kgo19gtq-5017da46937c58634cb3e898e06a3fd4\">\n#top .av-special-heading.av-kgo19gtq-5017da46937c58634cb3e898e06a3fd4{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-kgo19gtq-5017da46937c58634cb3e898e06a3fd4 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kgo19gtq-5017da46937c58634cb3e898e06a3fd4 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kgo19gtq-5017da46937c58634cb3e898e06a3fd4 av-special-heading-h3  avia-builder-el-10  el_after_av_textblock  el_before_av_textblock'><h3 class='av-special-heading-tag'  itemprop=\"headline\"  >Suspension authorised <\/h3><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-kgo19te8-6117ba29556b6e9f006a1746f184eaa2'   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div style=\"text-align: justify;\">\n<p>The recommendation went to the National Assembly. and an amendment was passed on November 30, 2018.<\/p>\n<\/div><\/section><\/p><\/div>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-2yy0dk-7d251adae7160a0209bd99905e37fab7\">\n.flex_column.av-2yy0dk-7d251adae7160a0209bd99905e37fab7{\nborder-radius:0px 0px 0px 0px;\npadding:0px 0px 0px 0px;\n}\n<\/style>\n<div  class='flex_column av-2yy0dk-7d251adae7160a0209bd99905e37fab7 av_one_half  avia-builder-el-12  el_after_av_one_half  avia-builder-el-last  flex_column_div av-zero-column-padding'     ><p>\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-kgo1cng1-ae41ae06a633ca880117c066aee7bd15\">\n#top .av-special-heading.av-kgo1cng1-ae41ae06a633ca880117c066aee7bd15{\npadding-bottom:10px;\n}\nbody .av-special-heading.av-kgo1cng1-ae41ae06a633ca880117c066aee7bd15 .av-special-heading-tag .heading-char{\nfont-size:25px;\n}\n.av-special-heading.av-kgo1cng1-ae41ae06a633ca880117c066aee7bd15 .av-subheading{\nfont-size:15px;\n}\n<\/style>\n<div  class='av-special-heading av-kgo1cng1-ae41ae06a633ca880117c066aee7bd15 av-special-heading-h3  avia-builder-el-13  el_before_av_textblock  avia-builder-el-first'><h3 class='av-special-heading-tag'  itemprop=\"headline\"  >Signature by the President<\/h3><div class=\"special-heading-border\"><div class=\"special-heading-inner-border\"><\/div><\/div><\/div><br \/>\n<section  class='av_textblock_section av-jvl1zla0-27e4f37cb59f95c930413a496bc46db7'   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div style=\"text-align: justify;\">\n<p>President Danny Faure then signed the amendment to the country's International Business Act 2016 on 19 December 2018. This was to continue to protect the confidentiality of offshore companies registered in Seychelles.<\/p>\n<p>However, international companies registered in Seychelles are still required by law to keep a register of their directors, but at the registered office while filing a copy with the Registry.<\/p>\n<p>The previous measure that details were available for public inspection, in the register of directors, has been removed.<\/p>\n<\/div>\n<\/div><\/section><\/p><\/div><section  class='av_textblock_section av-jvmdyzt9-f5d4e4c0369e7326785e701a0df0397a'   itemscope=\"itemscope\" itemtype=\"https:\/\/schema.org\/BlogPosting\" itemprop=\"blogPost\" ><div class='avia_textblock'  itemprop=\"text\" ><div style=\"text-align: justify;\">\n<h3 style=\"text-align: center;\">Do you have questions about offshore?<\/h3>\n<p style=\"text-align: center;\">For example, we are about <strong><a style=\"color: #333399;\" href=\"skype:rekafeht?chat\">Skype<\/a>, <a style=\"color: #333399;\" href=\"https:\/\/web.whatsapp.com\/send?phone=+2482753440&amp;text=\" target=\"_blank\" rel=\"noopener\">WhatsApp<\/a>, <a style=\"color: #333399;\" href=\"https:\/\/new.offshore.sc\/de\/kontakt\/\">Contact form<\/a><\/strong>and chat for your concerns <strong>reachable<\/strong>.<\/p>\n<\/div>\n<\/div><\/section><\/p>\n\n<style type=\"text\/css\" data-created_by=\"avia_inline_auto\" id=\"style-css-av-jvmewaf6-e88497feb09e27941c9faeee58fe3acf\">\n#top .hr.hr-invisible.av-jvmewaf6-e88497feb09e27941c9faeee58fe3acf{\nheight:50px;\n}\n<\/style>\n<div  class='hr av-jvmewaf6-e88497feb09e27941c9faeee58fe3acf hr-invisible'><span class='hr-inner'><span class=\"hr-inner-style\"><\/span><\/span><\/div>\n<div  class='av-social-sharing-box av-jvmcdqn9-00b1c842076b7c55b455655f6ff48f4e av-social-sharing-box-default av-social-sharing-box-fullwidth'><div class=\"av-share-box\"><h5 class='av-share-link-description av-no-toc'>Share Offshore Blog<\/h5><ul class=\"av-share-box-list noLightbox\"><li class='av-share-link av-social-link-facebook avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on Facebook\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/&#038;t=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016\" data-av_icon=\"\ue8f3\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on Facebook\"><span class='avia_hidden_link_text'>Share on Facebook<\/span><\/a><\/li><li class='av-share-link av-social-link-twitter avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on X\" href=\"https:\/\/twitter.com\/share?text=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016&#038;url=https:\/\/offshore.sc\/en_us\/?p=18647\" data-av_icon=\"\ue932\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on X\"><span class='avia_hidden_link_text'>Share on X<\/span><\/a><\/li><li class='av-share-link av-social-link-whatsapp avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on WhatsApp\" href=\"https:\/\/api.whatsapp.com\/send?text=https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/\" data-av_icon=\"\uf232\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on WhatsApp\"><span class='avia_hidden_link_text'>Share on WhatsApp<\/span><\/a><\/li><li class='av-share-link av-social-link-pinterest avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on Pinterest\" href=\"https:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Foffshore.sc%2Fen_us%2Fblog%2Finternational-business-companies-amendment-act-2018%2F&#038;description=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016&#038;media=https%3A%2F%2Foffshore.sc%2Fwp-content%2Fuploads%2F2018%2F12%2Famendment-ibc-act-2018-705x705.jpg\" data-av_icon=\"\ue8f8\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on Pinterest\"><span class='avia_hidden_link_text'>Share on Pinterest<\/span><\/a><\/li><li class='av-share-link av-social-link-linkedin avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on LinkedIn\" href=\"https:\/\/linkedin.com\/shareArticle?mini=true&#038;title=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016&#038;url=https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/\" data-av_icon=\"\ue8fc\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on LinkedIn\"><span class='avia_hidden_link_text'>Share on LinkedIn<\/span><\/a><\/li><li class='av-share-link av-social-link-tumblr avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on Tumblr\" href=\"https:\/\/www.tumblr.com\/share\/link?url=https%3A%2F%2Foffshore.sc%2Fen_us%2Fblog%2Finternational-business-companies-amendment-act-2018%2F&#038;name=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016&#038;description=\" data-av_icon=\"\ue8fa\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on Tumblr\"><span class='avia_hidden_link_text'>Share on Tumblr<\/span><\/a><\/li><li class='av-share-link av-social-link-vk avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on Vk\" href=\"https:\/\/vk.com\/share.php?url=https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/\" data-av_icon=\"\ue926\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on Vk\"><span class='avia_hidden_link_text'>Share on Vk<\/span><\/a><\/li><li class='av-share-link av-social-link-reddit avia_social_iconfont' ><a target=\"_blank\" aria-label=\"Share on Reddit\" href=\"https:\/\/reddit.com\/submit?url=https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/&#038;title=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016\" data-av_icon=\"\ue927\" data-av_iconfont=\"entypo-fontello\" title=\"\" data-avia-related-tooltip=\"Share on Reddit\"><span class='avia_hidden_link_text'>Share on Reddit<\/span><\/a><\/li><li class='av-share-link av-social-link-mail avia_social_iconfont' ><a  aria-label=\"Share by Mail\" href='mailto:?subject=%C3%84nderungen%20des%20Gesetzes%20%C3%BCber%20internationale%20Handelsgesellschaften%202016&#038;body=https:\/\/offshore.sc\/en_us\/blog\/international-business-companies-amendment-act-2018\/' data-av_icon='\ue805' data-av_iconfont='entypo-fontello'  title='' data-avia-related-tooltip='Share by Mail'><span class='avia_hidden_link_text'>Share by Mail<\/span><\/a><\/li><\/ul><\/div><\/div>","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":18656,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-18647","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog"],"_links":{"self":[{"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/posts\/18647","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/comments?post=18647"}],"version-history":[{"count":0,"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/posts\/18647\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/media\/18656"}],"wp:attachment":[{"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/media?parent=18647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/categories?post=18647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/offshore.sc\/en_us\/wp-json\/wp\/v2\/tags?post=18647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}