12.01.11
Posted in Business and Economy, Financial Services, Foreign investments, International relations, SIBA at 3:38 pm by Robert Klien
A Seychelles’ delegation has attended a 2-day conference. The event was held in Prague on November 10-11, 2011.
The event was organized by the SIC Corporation based in the Czech Republic with the support of the Seychelles Investment Board (SIB). The conference targeted mainly Russian investors interested in investing.
The delegation was led by Investment, Natural Resources and Industry Minister Peter Sinon. Also, there were members of the delegation from the SIB, the Central Bank of Seychelles, the Seychelles International Business Authority (SIBA), and several domestic private financial services sector companies.
This conference aimed to tell investors about various emerging opportunities and possibilities for investment in Seychelles. Also, the event was used as an occasion to formally nominate the partners of SIC Corporation as candidates for the Trade and Investment Representatives’ of Seychelles in Russia and the Commonwealth of Independent (CIS) countries.
In his opening speech, Sinon emphasized that Seychelles is a well-positioned jurisdiction and that there is an increase in trade and investment potentials between Africa and the growing emerging markets of the Far East. He stressed that the jurisdiction is a politically stable, open, welcoming, multi-cultural and idyllic destination in the middle of the Indian Ocean that is a potential powerful platform for offering financial solutions and related services.
Seychelles has maintained a good relationship with Russia and the CIS countries. Investment from this part of the world has significantly contributed to the figures for foreign direct investment (FDI) in Seychelles.
It should be noted that, in accordance with the data revealed by the UN Conference on Trade and Development (UNCTAD), the Russian Federation is the largest outward investing emerging economy surpassed only by Hong Kong. Russia stands ahead of Brazil, China and India. This is the motivation for trying to get to know specific and interested investors in what Seychelles has to offer.
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03.15.11
Posted in Business and Economy, Financial Services, SIBA at 1:24 pm by Robert Klien
This year, the financial system of the Seychelles, which currently is bank-based, is to get a boost as a stock exchange will be opened in the jurisdiction.
Chief executive officer of the Seychelles International Business Authority (SIBA), Steve Fanny, said that SIBA is responsible for setting up the stock exchange and the Seychelles Stock Exchange will start operating in 2011.
Many Seychelles’ companies as well as big hotels will qualify to be listed on the Exchange.
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03.22.10
Posted in Business and Economy, Foreign investments, International relations, Offshore Services, SIBA, Seychelles offshore jurisdiction at 11:50 am by Robert Klien
On March 10, a seminar on Seychelles’ offshore investment potential was held in Beijing. The theme of the seminar was: “Seychelles offshore planning for China companies in 2010 – how to maximize your company value through offshore practices”.
Around 120 Chinese professionals from the offshore sector along with several high-level officials were attracted by the event. Henry Liu, executive director of the Eastern Africa Investment Department, China-Africa Development Fund, was one of them.
The seminar was jointly organised by Seychelles’ embassy in China and the Seychelles International Business Authority (SIBA).
Conrad Benoiton, managing director of Appleby Corporate Services, chaired the meeting. Other speakers included Laurence Lipsher, a US expert on Chinese taxation; Jennifer Sullivan, head of financial services supervision and economist Hilda Palconit, both from the Central Bank of Seychelles; and Anuj Sharma, director of Abacus Seychelles. Barclays Bank was represented by its commercial director John Esther. Also, many Seychellois offshore services providers took part in the seminar.
With the help of a delegation from SIBA, headed by chief executive and managing director Steve Fanny, all the participants had a chance to meet representatives of Chinese companies showing interest in Seychelles’ offshore opportunities. As a result, all Seychellois and Chinese delegates were optimistic about the potential of the event to make Seychelles more distinctly noticeable as a very competitive offshore jurisdiction.
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10.16.09
Posted in Business and Economy, Double Taxation Agreements, International Organisations, International relations, Offshore Services, SIBA, Seychelles IBC, Seychelles government at 9:54 am by Robert Klien
Seychelles’ Minister of Finance Danny Faure has said that the jurisdiction’s presence at the meeting of the International Monetary Fund and the World Bank held last week in Istanbul, Turkey, was highly productive.
Having returned after leading a high-level delegation to the annua meetings, Faure said that the team met finance ministers and executive board directors of the 2 institutions. These were bilateral discussions where Seychelles was seeking the same 45% debt cancellation as it received from the Paris Club from other creditors including China, India, the UAE, Malaysia, Algeria, and Libya. The Minister confirmed that Malaysia has already approved a cancellation of 45% of the total debt of USD 12.1 million, so USD 5.5 million has been canceled.
According to Faure, the result of these meetings was very encouraging because Seychelles received much support and encouragement for its reforms.
Also, in Istanbul, Faure discussed the restructuring of Seychelles’ commercial debts with Dr Donald Kaberuka, African Development Bank president.
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10.07.09
Posted in Bilateral Treaties, International relations, SIBA at 11:22 am by Robert Klien
As a result of the negotiations, the governments of Seychelles and Monaco agreed to sign the treaty aimed to avoid double taxation and prevent fiscal evasion with respect to taxes on income.
These talks began on October 5 and completed with a draft agreement, which will be presented to the government in order to be further considered.
The talks were held by senior government officials from the ministries of Finance and Foreign Affairs, the Seychelles Revenue Commission and the Seychelles International Business Authority (SIBA) from the Seychelles and Pierre-Jean Douvier, technical consultant at the Department of Finance and Economy, represented the Principality of Monaco.
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07.02.09
Posted in Offshore Services, SIBA, Seychelles IBC, Seychelles companies at 5:12 am by Robert Klien
On June 1, 2009, a notice was issued by by the Seychelles International Business Authority.
In the notice, the SIBA drew attention of the public to the fact that a company entitled Nexins Inc that is registered and/or licensed by SIBA under the International Business Companies Act, 1994 is non-existent.
So, members of the public were strongly advised by the Authority to be extremely cautious when dealing with Nexins Inc.
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06.26.09
Posted in Offshore Services, SIBA, Seychelles offshore jurisdiction at 9:54 am by Robert Klien
This year, a notice was issued by the Seychelles International Business Authority.
In the notice, the SIBA drew attention to the website nastla .com as well as to the fact that what is being advertised on this website is not true. The Authority claimed that neither Nastla Investments nor Nastla Inc are licensed, authorised or registered by the SIBA.
Members of the public were strongly advised by the Authority to be extremely cautious when dealing with Nastla Investments and Nastla Inc.
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04.20.09
Posted in Financial Services, SIBA, Seychelles offshore jurisdiction at 7:16 pm by Robert Klien
Seychelles has been listed by the Organisation for Economic Cooperation and Development (OECD) among 40 countries on its “white list”. The white list includes such countries as the United Kingdom, the USA, Canada, Sweden, France, Germany and New Zealand. Accordingly, Seychelles has been listed among many developed countries
Steve Fanny, chief executive of the Seychelles International Business Authority, said that this fact means that Seychelles is not on the OECD’s black or grey list. Fanny said that Seychelles used to have substantially imposed internationally agreed tax standards in a transparent manner and that this offshore jurisdiction has made every effort to know its customers in order to avoid the risk of providing havens for criminals.
It is worth noting that since April 2 the international media have been reporting on the disappointment of countries placed on the OECD’s grey or black list despite years of striving to get into the white list.
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03.12.09
Posted in Offshore Services, SIBA, Seychelles offshore jurisdiction at 1:36 pm by Robert Klien
The Seychelles International Business Authority (SIBA) along with the China Economic Review have recently announced a forthcoming event in Shanghai, China. The half-day event will be held on March 26, 2009. It will follow the Bangkok AOA Conference that will take place on March 22-24, 2009.
The event arranged by the SIBA and the China Economic Review will take place in China as a result of the positive feedback received by the Seychelles International Business Authority after the Seychelles road show entitled “Seychelles – the Investment Gateway to China” held in Shanghai on September 25, 2008.
On March 26, speakers will talk on what is currently of great interest to Chinese offshore practitioners and in what Seychelles structures can efficiently be applied.
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09.30.08
Posted in Offshore Services, SIBA at 5:17 am by Robert Klien
On September 15, 2008, the Seychelles International Business Authority (SIBA) issued a notice to warn the public to a offshore service provider company called Shelf Holding.
In the notice, SIBA draws attention to the fact that there are no service providers known as Shelf Holding Ltd. and SHELF HOLDING that are licensed under the Seychelles International Corporate Service Providers Act 2003. So these offshore companies are not licensed to engage in any business in Seychelles that is connected with the establishment, management, or any other activities related to international corporate services or international trustee services.
SIBA states that any activity of the above-mentioned nature by Shelf Holding Ltd. or SHELF HOLDING would be unlawful and unauthorised. None of them may conduct these regulated activities.
To verify the status of any service provider that offers International Trustee Services and International Corporate Services, SIBA may be contacted.
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