Seychelles Government Examines Offshore Sector
Representatives from the
Seychelles Government and the jurisdiction's financial services industry met
last week to discuss the future of the offshore centre in the face of growing
international pressure and rife competition from other low tax regions. The conference was hosted
by the Ministry of Industries and International Business (MIIB), and was also
attended by delegates from the Seychelles International Business Authority (SIBA),
and the Seychelles Association of Offshore Practitioners of Registered Agents
(SAOPRA). MIIB Principal Secretary,
Joseph Nourrice told local newspaper, Seychelles Nation, that the aim of the
meeting was to reflect on ways in which to improve the performance of the offshore
sector. He revealed that in light of recent events, there are several pieces
of regulatory legislation governing the financial services industry which need
to be amended. According to Mr Nourrice,
the MIIB briefed SAOPRA on the Government's vision for the future of the offshore
sector, and stressed the need to broaden and improve the range of financial
services offered. .
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