In a move that signals Seychelles’ intent to clean up its offshore image, the National Assembly has unanimously passed the International Business Companies (Amendment) Bill, 2025—a piece of legislation designed to put tighter reins on the offshore sector and bring the island nation in line with global expectations on tax transparency and financial oversight.
For years, Seychelles’ offshore industry has drawn both international business and global scrutiny, walking a fine line between legitimate investment opportunities and shady financial loopholes. But with the passage of this new amendment, lawmakers are sending a clear message: the days of easy anonymity and soft regulation are numbered.
The updated law strengthens disclosure requirements, enhances the powers of regulators, and shores up compliance protocols to avoid being labelled a tax haven by watchdog bodies like the OECD and EU. It’s a necessary step, say some insiders, to keep Seychelles from slipping further down the ranks of financial credibility.
“The bill is about more than just ticking international boxes—it’s about ensuring our financial reputation remains intact,” one MNA said during the debate. “We can no longer afford to be seen as a safe harbour for secrecy.”
The vote passed without a single objection—a rare feat in today’s politically polarised climate—showing just how serious Seychelles is about aligning with the new world order of financial accountability.
Still, not everyone is clinking glasses. Quiet murmurs in the business community raise concerns that over-regulation might drive away legitimate investors looking for flexible jurisdictions. But the Assembly made its stance clear: reform now or face bigger consequences later.
Whether this will usher in a new era of offshore transparency or merely push shady dealings further underground remains to be seen. But one thing is certain—Seychelles is no longer willing to play the villain in someone else’s financial thriller.
