The registration time is from 2 weeks depending on the structure and complexity of the Trust Deed.
Trusts registered under the Seychelles Trusts Act, 2021 are not subject to tax in Seychelles.
Seychelles legislation requires trusts to maintain a register of beneficial owners of the trust and keep it at the registered office of the trustee. The register is NOT public.
A trust must, within 6 months of the end of its financial year, prepare an annual financial summary*, which will be kept at the trustee’s registered office in the Seychelles.
Additionally, a trust is required to submit accounting records (bank statements, contracts, invoices and other documentation on the trust’s transactions) to its Seychelles trustee at least every six months. A trust must also be able to provide these documents to Seychelles government authorities upon request. A trust is required to keep books of accounts and retain accounting records for at least 7 years. Accounting books are NOT public.
*For more information on the requirement to keep accounting records and prepare financials, please contact your consultant.
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CRITERIA
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TRUST (SEYCHELLES)
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STATUTORY REQUIREMENTS
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Governed by
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the Trusts Act, 2021.
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Registered agent in the country of registration
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Yes.
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Type of licence
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Trust services in accordance with the International Corporate Service Providers Act, 2003.
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Objects. What goals achieves?
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Asset protection.
Estate planning. |
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What activity can carry on?
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- Managing and distributing assets to beneficiaries, or achieving a prescribed goal.
- May not carry on any business in Seychelles. |
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Constitutive documents
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- Trust Deed – a mandatory document.
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STRUCTURE OF A TRUST
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Settlor
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Number
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At least one.
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Residence
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No requirements.
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Individuals / legal entities permitted
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Yes.
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Whether can act in other capacity
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Can act as one of the beneficiaries (but not as sole beneficiary).
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Trustee
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Number
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At least one.
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Residence
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Seychelles resident (with ICSP licence)
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Individuals / legal entities permitted
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Yes.
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Protector
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Number
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One or more.
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Residence
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No requirements.
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Individuals / legal entities permitted
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Yes.
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Beneficiary
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Number
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At least one.
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Residence
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No requirements.
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Individuals / legal entities permitted
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Only individuals.
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Whether can act in other capacity
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Settlor can act as one of the beneficiaries (but not as sole beneficiary).
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Services
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Fee (USD)
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Establishing a Seychelles trust, including the drafting of the Trust Deed
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8 500
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Government fee
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200
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Trustee services for 1 year
Do not include: Charged based on time spent. |
from 7 500
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Deposit for keeping accounting documentation and preparing basic financials
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1 500
(preparation of financials is invoiced based on the time spent at rates USD 200 – USD 400 / hour) |
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Compliance fee
Payable in the cases of: - registration of a trust, - annual renewal of a trust, - liquidation of a trust, - transfer out of a trust, - change of protector, beneficiary. |
from 780
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For signing of documents by the trustee (per document)
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100
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[1] The fees are valid as of December 2023.