Trusts

A comprehensive, clear and codified trust regime is contained in the International Trust Act 1994, as amended in 2000. This provides for the establishment in Seychelles of private trusts which have the best features of modern trust law. The charges are highly competitive and the appointment of licensed trustees in Seychelles ensures these will remain competitive.

Statutory secrecy provisions to prevent disclosure of trust matters including settlor and beneficiaries:

• No creditor claims against trustee after 2 years from transfer of assets into trust
• No forced heirship
• 100 years perpetuity period
• Wide charitable trust definition
• Purpose trusts allowed
• Any property except Seychelles property may be settled
• Settlor or trustee may be beneficiary (not sole)
• Settlor cannot be Seychelles resident
• Minimum 1 trustee
• There must be 1 Seychelles resident Trustee which is licensed to provide international trustee services under the International Corporate Service Providers Act 2003
• Non-resident co-trustees may be appointed
• Trust property must not be situated in Seychelles
• Duty of care and to keep accounts on trustee