AI-assisted research summary: This Act updates the Beneficial Ownership Act, 2020 by expanding and adjusting which outside-Seychelles partnerships and legal persons are covered, and by changing the definition of “resident agent” and the First Schedule.
[20th August 2 0 2 5 ] Bene ficial Ownership (Amendment) Act 328 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT BENEFICIAL OWNERSHIP (AMENDMENT) ACT, 2025 (Act 18 of 2025) ARRANGEMENT OF SECTIONS SECTIONS 1. Short title 2. Amendment of section 2 3. Amendment of section 3 4. Amendment of First Schedule [20th August 2 0 2 5 ] Bene ficial Ownership (Amendment) Act 329 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT BENEFICIAL OWNERSHIP (AMENDMENT) ACT, 2025 (Act 18 of 2025) I assent Wavel Ramkalawan President 8th August, 2025 AN ACT TO AMEND THE BENEFICIAL OWNERSHIP ACT, 2020. ENACTED BY THE PRESIDENT AND THE NATIONAL ASSEMBLY. Short title 1. This Act may be cited as the Beneficial Ownership (Amendment) Act, 2025. [20th August 2 0 2 5 ] Bene ficial Ownership (Amendment) Act 330 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT Amendment of section 2 2. Section 2 of the Beneficial Ownership Act, 2020 (hereinafter referred to as the “principal Act”) is amended as follows — (1) in subsection (1), by repeaing paragraph (a)(vi) and substituting therefor the following — “(vi) a partnership under the Civil Code of Seychelles Act (Cap.33), and any partnership formed, incorporated, or otherwise established outside Seychelles but conducting or carrying on business within Seychelles; and”; (2) in subsection (2), by repealing paragraph (b), and substituting therefor the following — “(b) (i) a legal person, not being a partnership, which is formed, incorporated or established outside Seychelles, unless such legal person is an overseas company registered under the Companies Act; or (ii) a partnership formed, incorporated or established outside Seychelles which is not conducting or carrying on business within Seychelles”. Amendment of section 3 3. Section 3 of the principal Act is amended in the definition of “resident agent” as follows — (1) by repealing the word “or” in paragraph (f); (2) by repealing the word “and” and substitutingtherefor the word “or” in paragraph (g) (3) by inserting immediately after paragraph (g), the following paragraph — [20th August 2 0 2 5 ] Bene ficial Ownership (Amendment) Act 331 REPUBLIC OF SEYCHELLES SUPPLEMENT TO OFFICIAL GAZETTE ACT “(h) a representative pursuant to paragraphs (c) and (h) of Section 38(1) of the Revenue Administration Act in relation to a partnership formed, incorporated or established outside Seychelles but conducting or carrying on business within Seychelles”. Amendment of First Schedule 4. The First Schedule to the principal Act is amended in Part A, by inserting immediately after item (c), the following new item — “(d) A partner of a partnership formed, incorporated, or otherwise established outside Seychelles but conducting or carrying on business within Seychelles”. I certify that this is a correct copy of the Bill which was passed by the National Assembly on Wednesday 6th August, 2025. Mrs. Tania Isaac Clerk to the National Assembly