Seychelles Updates – Please provide the Accounting Records in the 1st half of 2023

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Recap of Accounting Record Requirements

Frankly reminder of the amendments to the International Business Companies Act 2016 relating to the requirements of accounting records. In detail, please go to https://www.harmonybcs.com/2021/09/10/seychelles-updates-ibc-act-amendment-highlights-relating-to-requirements-of-accounting-records/

Required Actions

  1. Please send us the accounting records of the Seychelles companies for the 2nd half of the year (01.01.24 – 30.06.24) on or before 30 Sept 24.
  2. If companies have not yet complied with the requirement for existing accounting records for the past 7 years, please do the needful to provide us with the same.

Compliance inspections and penalties

An entity that contravenes section 175 of the International Business Companies Act 2016 (the “Section”) shall be liable to a penalty fee not exceeding US$10,000; a director who knowingly permits a contravention under the Section shall be liable to a penalty fee not exceeding US$10,000.

If any queries, please contact your Harmony representative. 

Thank you