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I blogged recently about the record keeping requirements of a company under the new Seychelles IBC legislation, the International Business Companies Act, 2016 (the "Act").

Seychelles' Financial Services Authority has issued Circular No. 5 of 2026, targeting International Business Companies operating in regulated financial sectors—particularly virtual asset services—without proper licensing. With the IBC Amendment Bill advancing through the National Assembly and a critical ESAAMLG evaluation approaching, the FSA is signaling that passive oversight has ended and formal enforcement against non-compliant entities is imminent.