France Included Seychelles in the Blacklist of Jurisdictions

Seychelles, along with the Antilles, the Bahamas, and the British Virgin Islands, are on the blacklist of French jurisdictions. This information was published by the state tax service. The official reason for including Seychelles on this list is the lack of information about some companies previously requested by tax inspectors.

French Ambassador to the Seychelles Dominic Mas noted that the jurisdictions included in the blacklist do not provide information quickly enough, which complicates tax investigations. Mas also emphasized that the information provided by the countries was insufficient. The ambassador expressed hope that this situation will be resolved soon.

In Seychelles, such a move by France was called "disappointing." The Minister of Finance of the Republic noted that this will undoubtedly affect relations between the countries and will have a negative impact on the economic situation. The Seychelles Ministry of Finance insisted that France received information on 55 organizations out of 76 requested. The Seychelles Minister of Finance also stated that the jurisdiction would soon pass a series of laws regarding the exchange of financial information.

If the situation between France and Seychelles has affected your business, Law&Trust offers its services. Our lawyers will advise you on the consequences of the situation and, if necessary, help transfer assets to another jurisdiction.