Seychelles removed from France’s blacklist of non-cooperative jurisdictions for tax purposes |12 May 2025
Seychelles removed from France’s blacklist of non-cooperative jurisdictions for tax purposes
The government of Seychelles has announced that the country has been officially removed from France’s list of non-cooperative states and jurisdictions for tax purposes (the French “blacklist”).
In a press release issued on Saturday, the Ministry of Finance, National Planning and Trade said this significant update follows the Decree of April 18, 2025 from the French authorities, which was published on May 7, 2025. “The development underscores Seychelles’ commitment to transparency, compliance and cooperation in international tax matters,” read the communique.
“The removal from the French blacklist, reflects the successful implementation of reforms and adherence to international standards established by the Organisation for Economic Co-operation and Development (OECD).”
The decision, which comes after collaboration between the governments of Seychelles and France, reflects Seychelles’ ongoing efforts to enhance its regulatory framework and align with global standards for tax transparency and information exchange. The removal from the French blacklist is a testament to the country’s dedication to fostering a fair and equitable tax environment while promoting economic growth and investment, it added.
Vice-President Ahmed Afif who is in charge of the ministry’s portfolio, stated, “We are thrilled to receive this recognition from France. It demonstrates our commitment to maintaining high standards of financial integrity and cooperation with international partners. This removal will not only enhance Seychelles’ reputation as a reputable financial jurisdiction but also encourage foreign investment and economic development.”
The National AML/CFT Committee has worked diligently to implement necessary reforms and ensure compliance with international standards set by the Organisation for Economic Co-operation and Development (OECD) and other global entities. These efforts include the establishment of robust regulatory frameworks, promoting transparency in financial transactions, and enhancing information-sharing. The government said it remains committed to fostering a conducive environment for growth while ensuring that it adheres to international best practices in tax governance.
Seychelles’ government also expressed its gratitude to the French authorities and other stakeholders for their collaboration and support throughout this process. Moving forward, Seychelles will continue to engage with international partners to uphold its commitments to transparency and cooperation in tax matters, added the press release.
Seychelles is currently on Annex II of the European Union (EU) list of non-cooperative jurisdictions for tax purposes (the so-called EU greylist). The in-depth review for Seychelles against the standard of transparency and exchange of information on request (EOIR) was launched in March 2025, and the Seychelles in-depth review report is expected to be discussed during the Peer Review and Monitoring Group (PRMG) meeting in December 2025. The EU council of ministers will make their determination as to whether to remove Seychelles completely from the Annex II in February/March of 2026, following the publication of the in-depth review report.
Seychelles’ government has reaffirmed its commitment to being a key player in promoting tax transparency, and serving as an effective partner for the Exchange of Information on Request (EOIR).
Contributed