Seychelles: Offshore Trusts Guide
Legal Framework and Formation Rules and Fees
The International Trusts Act 1994 established, for the first time, a regime for international trusts in the Seychelles; it does not provide for domestic trusts. The Act was drafted after a thorough study of current practice in a number of leading offshore jurisdictions. Under the Act, the Seychelles International Business Authority (SIBA) is appointed as the regulatory body for trusts, alongside the court.
The Seychelles is mostly a civil law jurisdiction to which the concept of the trust was unknown; thus the Trusts Act has to self-sufficient, and indeed it contains some basic definitions which include the admittance of charitable, trust, purpose trusts, constructive trusts, and trusts resulting from action by the Court.