Seychelles IBC (International Business Company)
Procedures to incorporate
Seychelles is a small island nation located in the Indian Ocean northeast of Madagascar and about 5,000 miles (1,600 km) east of Kenya. Other nearby island countries and territories include Zanzibar to the west, Mauritius and Réunion to the south, Comoros and Mayotte to the southwest. Seychelles is known at a global level for its favorable regime available for foreign investors. This jurisdiction is also one of the most appreciated business destinations for offshore company formation, providing a set of tax advantages, offered in the form of various tax exemptions foreign investors can enjoy.
Most relevant advantages
No minimum capital requirement.
Only one shareholder or director is mandatory.
An IBC may own or manage a Seychelles-registered vessel or aircraft.
A growing matrix of tax treaties used for investment into other countries.
An international trade zone.
No corporate tax.
Not required to file accounts.
Records are not publicly accessible.
Names of company directors and shareholders are not placed in the public registry.
Residence permit and work permit are available for foreign investors.
Annual requirements
- Annual Return – Only required to be filed with local Registered Agent
- Preparing accounts – Yes
- Submit Accounts – No
Recurring Government costs
- Minimum Annual Tax/License Fee – US$ 150
- Annual Return Filing Fee – N/A
General information
Type of law
Based on English Common Law and French Civil Law.
Exchange control
There is no exchange control.
Currency
Seychelles Rupee.
Language
The official languages are English, French and Creole. Creole is spoken widely. English is the main language of business.
Principal corporate legislation
The International Business Companies (Amendment) Act 2021.
Company information
Type of company for international trade and investment
International Business Companies.
Procedure to incorporate
Filing of Memorandum of Incorporation at the Registry. The Articles of Association can be filed either at the same time or within 30 days of incorporation.
Restrictions on trading
Cannot trade within the Seychelles or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management (other than the company’s own assets) or any other activity that would suggest an association with the banking and insurance industries. A Seychelles IBC cannot provide registered office facilities in the Seychelles or sell its shares to the public.
Powers of company
A Seychelles incorporated Company has the same powers as a natural person.
Language of legislation and corporate documents
English or French. If any other language is used it must be accompanied by a translation in either English or French.
Registered office required
Yes, must be maintained in the Seychelles at the office of a licensed management company.
Shelf companies available
Yes.
Time to incorporate
Same day but allow five days for delivery of documentation.
Name restrictions
Anything identical or similar to a company already incorporated. Anything that implies patronage of the Seychelles, or any other government, insurance, royal, imperial or any other name that may imply that a company intends to undertake a licensable or undesirable activity.
Language of name
The name can be in any language but must be accompanied by a translation in English or French. The documentation will either be in English, or it is possible to have bilingual documentation in English and Chinese or any other language accompanied by a translation in English or French.
Suffixes to denote Limited Liability
Limited, Corporation, Incorporated, Société Anonyme or their abbreviations. Other suffixes such as BV, GmbH, and SARL may also be used.
Publicly accessible records
No.
Disclosure of beneficial ownership to authorities
No.
Compliance
Authorised and issued share capital
Seychelles IBCs are normally incorporated with a standard authorised share capital of US$50,000. No minimum paid–up capital requirements. The authorised share capital may be expressed in any currency. The minimum issued capital is either one share of no-par value or one share of par value.
Classes of shares permitted
Registered shares, shares of no-par value, preference shares, redeemable shares and shares with or without voting rights.
Bearer shares
Not permitted.
Taxation
An International Company is exempted from local taxation.
Tax treaties
Access to Double Taxation Treaties – No.
Financial statements required
There is no requirement to file financial statements, but a company must keep records to reflect its financial position.
Directors
The minimum number of directors is one, who may be a natural person or a body corporate. They may be of any nationality and need not be resident in the Seychelles.
Company secretary
A Seychelles IBC need not appoint a company secretary, although it is customary to do so. The secretary may be a natural person or body corporate, be of any nationality and need not be resident in the Seychelles.
Shareholders
The minimum number of shareholders is one.
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.