The Collateral Database Registry (CDR) was launched in Seychelles on 3 May 2021. It will be recalled that the CDR was initiated by the Central Bank of Seychelles, in collaboration with the Office of Registrar General and the assistance of the World Bank back in 2013. The Collateral Database Registry is also in line with the coming into force of the Secured Transactions Act, 2015, which governs the system.

A Collateral Database Registry acts as a centralised, electronic database – accessible to the public and to secured parties – and allows the registration of security interests in movable assets in a faster and more convenient way.

A fee of SR500 is applicable for the filing of notice of security interest, amendment, continuation and termination. However, the general public can conduct searches and file objections on the CDR free of charge.