Seychelles companies - you must keep transaction documents

[manager]

I was just informed that starting March 2012 you must keep all documents related to business transactions. (here is an article).

My questions:
1. how can I withdraw money for personal needs then? As far as I know this isn't a business transaction, and I can't get an invoice for this.
2. I am planning to move the company to Belize. Is it worth it? When do you think Belize will adopt the same rules?

[Admin]

The law does not prescribe the keeping of accounts, the preparation of balance sheets or audited balance sheets. The documents related to transactions must be kept for 7 years.

This would have been my main concern if at all! Looking at the requirement it seems pretty simple and less complicated to full fill the outlined requirements in the article you linked to.

Belize is OK, but they have a register of companies where records are kept.

[chuncker]

What I have to keep with company in Seychelles? and why?

[Admin]

Well, at the end of the day a bank statement will do it. I really don't see any complications with this new regulation.

[pontiacG8]

I got the same info, now here is the amendmend and the BIIIIG SCHOCK THAT MAY COME TO YOU

Nothing and I repeat, NOTHING has changed compared to the original regulations in the Seychelles. What has changes is that the SIBA finally executed and applied these regulations to the CSP's in the Seychelles. The GOOD NEWS , you just need to sign a document stating where these documents are, so they can be anywhere in this world. I say, this is not an issue for me and my companies at all

[drillbill]

I just signed this form, very simple and worth nothing