Seychelles International Business Minister Returns From Offshore Fact Finding Mission

by Amanda Banks, Tax-News.com, London

01 April 2002

The itinerary for Seychelles Industries and International Business Minister Jacquelin Dugasse's offshore fact finding visit to Europe was revealed last week, on his return from Europe.

The Minister, who also heads the Seychelles International Business Authority, paid a working visit to Cyprus, the United Kingdom, and France in order to gather intelligence for the government's drive to make the Seychelles' offshore sector into a well-regulated regional hub. M. Dugasse was instructed to look at the technical and legislative frameworks and infrastructural bases in place in succesful offshore jurisdictions.

The International Business Minister held discussions with key officials from the Cyprus government, as well as with the Governor of the Central Bank, and representatives from the Offshore Banking Unit of the Bank of Cyprus, and ways in which to develop investment, and financial services and trade links between the two countries were reportedly discussed.

In London, according to reports, the Minister met with senior personnel from the Financial Services Authority in order to discuss regulatory concerns and issues, and attended the 2002 Financial Services Conference.

During his visit to Monte Carlo, according to the Seychelles Nation newspaper, M. Dugasse attended an International Tax Planning Association meeting, and provided those attending with an overview of imminent legislation and other developments within the jurisdiction.

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