Seychelles Announces New Association Of Offshore Practitioners And Registered Agents

by Amanda Banks, Tax-news.com, London

20 April 2001

In September of last year, we reported on a conference for offshore practitioners hosted by the Seychelles. Entitled 'The Future of Offshore Centres in the Cyber Age', the event focused on the need for improved mutual understanding and support between the smaller specialised offshore centres and their markets, particularly with the opening up of e-commerce. Many papers were presented detailing the issues surrounding taxation, e-business, insurance, banking and legislation. Subjects covered were the impact of e-commerce on international companies, strategies of cross border e-businesses, captive insurance and offshore internet banking services. As well as representatives of the Seychelles business sector, attending the conference were around 100 delegates, many of whom were chief executives from international businesses.

So successful was the event that it spawned a new organisation - the Seychelles Association of Offshore Practitioners and Registered Agents (SAOPRA), which held its first annual general meeting last week to officially elect its first members of the committee.

The committee members include several high-profile offshore professionals headed by new chairman, Mr Peter Ward, of ACT-Offshore. Mr Ward said the aim of SAOPRA was to promote the reputation of the Seychelles as an offshore jurisdiction, involving the creation of a forum for developing the activities of the offshore practitioners and registered agents in the country. Currently the association is in the process of introducing a code of conduct for its members.

Mr Ward told the Seychelles press that SAOPRA's major concern was to promote and develop the interests of its members with regard to national and international regulatory authorities. In particular, the association will seek to establish a presence on government consultative committees and those of other regulatory bodies.

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