08.24.14

TIEA between Seychelles and Switzerland to enter into force

Posted in International relations at 6:36 pm by Robert Klien

The Swiss Federal Council has adopted a dispatch on tax information exchange agreement (TIEA) with the Seychelles. The dispatch will now be submitted to parliament for its approval.

Switzerland signed a TIEA with the Seychelles on May 26, 2014. The document must be approved by parliament before it can enter into force, and may be subject to an optional referendum.

In accordance with the Federal Council, during the hearing procedures that followed the completion of negotiations, the cantons and stakeholders expressed their support. The TIEA complies with the international standard.

08.04.14

SIBA becomes the Regulator of Insurance

Posted in SIBA at 11:44 am by Robert Klien

The Commonwealth Secretariat, based in London, United Kingdom, engaged an insurance regulation expert, Mr. Stephen Rossiter, to assist SIBA in assuming the role of regulating and supervising the insurance industry in the Seychelles.

This appointment coincided with the realisation of the decision of the government of the Seychelles to transfer this responsibility from the Central Bank of Seychelles, effective on July 1, 2013.