Representatives from the Seychelles Financial Services Sector came together at the 7th China Offshore Shanghai Summit, from the 31st October to the 2nd November. The delegation which included members of the public and private sector was headed by the Minister for Industry, Entrepreneurship Development and Business Innovation, Wallace Cosgrow. It was Seychelles' 3rd participation in the offshore summit which took place at the Grand Kempinski Hotel, Shanghai.
The conference which regrouped mostly Chinese investors and financial services providers focused on immigration by investment, wealth management and corporate structuring.Several members of the Seychelles delegation that included, Minister Cosgrow, the Chairman of the Financial Services Authority (FSA), Mr. Suketu Patel, the Chairman of the Seychelles Investment Board (SIB), Mr. Gilbert Lebon, the Principal Secretary of the Department of Investment, Dr. Steve Fanny, the Chief Executive Officer of the Securities Exchange Trop-X, Mr. Bobby Brantley and the Director at the Department Investment, Mr. Kenny Roberts, also had the opportunity to make various presentation on the Seychelles jurisdiction.
Over the three days of the summit, the delegation welcomed numerous potential investors, all paying particular attention to immigration by investment programmes, the Seychelles tax regime, formation of corporate structures, trusts, foundations and the investment opportunities available to Chinese investors. As part of the summit, Seychelles also hosted a special VIP dinner to introduce the country as an investment hub for the Chinese financial sector.
The gathering served as a platform to attract High Net Worth Individuals (HNWI) to participate in the country’s efforts to diversify its economy. As the Minister for Industry, Entrepreneurship Development and Business Innovation, Wallace Cosgrow reiterated in his address at the summit, Seychelles role on the international stage is needed now more than ever if the country is to integrate its economy with that of the Chinese and as such, economically develop at par with its Asian counterparts. Seychelles 3rd participation in the China Offshore Summit was facilitated by the Seychelles Investment Board in partnership with other partners in the industry. The country is expected to take part in other international financial services forums in the coming year, to facilitate investor’s demands for the jurisdiction.