Seychelles
International Business Company

Benefits of Seychelles IBC Registration

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    1 Director, 1 Shareholder Required, No Locals

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    Incorporation in 3-5 days

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    Legal System Based on Common Law

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    No Filing of Financial Records, No Auditing

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    No Local Tax for Income outside Seychelles

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    No Public Record for Shareholders

The Seychelles IBC corporate personality

Under the International Business Act 2016 as it was amended, the Seychelles IBC is an independent legal personality and has unlimited powers to engage in any business provided that the activity is allowed by the Seychelles law, its memorandum and articles of association. A prime limitation imposed by the Seychelles law is that an IBC is restricted to pursue the business of banking, insurance and re-insurance without a special license and cannot carry out business or own real estate within the territory of Seychelles. The following business are permitted within the Seychelles’ jurisdiction: open accounts in local banks, receive the services of local service providers, maintain books and records, hold meetings of its directors, own shares, debt obligations or other securities or beneficial interest in another Seychelles IBC Company or local company.

Seychelles IBC formation is optimal for:

  1. Holding Company
  2. International Business
  3. Ownership of Vessels
  4. Technology and Web Business

IBC incorporation checklist

If you are considering the incorporation of a Seychelles IBC, you should take into consideration the following points:

Company’s name

The name of the company must be determined; it must not contain sensitive words which are prohibited by legislation. The following words are expressly prohibited by legislation: “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Cooperative”, “Imperial”, “Insurance”, “Municipal”, “Trust”, “Foundation” and any other words having similar meaning or any other word that the Registry deems to have similar meaning. There is also a prohibition for words implying patronage or any connection with Seychelles or any other country and the government of Seychelles or the government of any other country.

The company’s name must not be very similar to existing names on the registrar. It must end with a word or abbreviation signifying a corporate body or limited liability, for example such words are “Limited”, “LTD”, “Corporation”, “Corp”, “Incorporated”, “Inc.” etc. Non-English words are allowed too, but they must be accompanied with a French or English translation.

Registered office

A Seychelles IBC Company is required to have a registered office address in Seychelles which must be provided by an authorised registered agent in Seychelles.

Directors

One director is the minimum required, there is no requirement for them to be locals and there is no requirement regarding the place and frequency of the board meeting. Corporate entities or a natural person can be appointed as directors. The director and shareholder can be the same person. The directors’ details are registered on the public record and can be accessed by the public.

Shareholders

One shareholder is the minimum required, there is no requirement for them to be locals and corporate entities or a natural person can be appointed as shareholders. There is no requirement regarding the place and frequency of the shareholders’ meeting.

The director and shareholder can be the same person. The shareholders details are not registered on the public record and cannot be accessed by the public, those details are only held by the registered agent of the IBC Company.

Beneficial owners

The beneficial owner’s details are not registered on the public record and cannot be accessed by the public; those details are only held by the registered agent of the IBC Company.

Authorized share capital

The owners of an IBC Company are free to determine any amount as the authorised capital at incorporation and it can be denominated in any currency. The authorised capital is the maximum amount of capital that the company is authorised by its constitutional documents to draw from its shareholders to issue in exchange shares.

Only registered shares are admissible and the minimum number of shares that must be issued is one with or without par value. An IBC Company may issue shares with or without par value, shares with preferential treatment, redeemable shares and shares with or without voting rights. A Seychelles IBC Company may not issue bearer shares.

Paid up capital

No requirement is imposed on minimum paid up capital at incorporation; this means that the owners of an IBC Company are not required to set a deadline as to when such capital must be paid up by the shareholders.

Incorporation period

A Seychelles IBC Company is incorporated within 3-5 working days

Shelf companies

Ready-made but unused IBC Companies are available in Seychelles, in case  you are in need of a quicker incorporation process.

Economic substance

A Seychelles IBC Company is not required to have economic substance in the jurisdiction, this means that the management and control of the IBC Company can be conducted anywhere in the world. The IBC Company is not required to rent an office or premises nor have its directors and employees located in Seychelles.

Accounting records and annual returns

The IBC Company must keep accounting records at its registered office in Seychelles, about its assets and liabilities to reflect accurately its financial situation. The IBC Company is not required to file to the public record the accounting records, nor is required that those accounts be audited. However, it is mandatory that it provides its registered agent each year with an annual return including the following information: the location of the company’s accounting records, the minutes and resolutions. The company will provide its accounting records, minutes and resolutions if that is requested according to Seychelles law.

An IBC Company is not allowed to provide services and or business activities to Seychelles residents, unless the Registry has been notifies, and the company files annual audited accounts and tax returns and pay local taxes.

Taxation

There is an exemption in the jurisdiction of Seychelles from any tax or duty on income or profits and from any stamp duties on all transactions concerning the IBC Company business given that it does not carry out business and does not own real estate within the territory of Seychelles nor undertakes part in banking, insurance, re-insurance or any other activity not allowed by Seychelles law.

Disclaimer: Buy Now Companies and its affiliates do not provide tax, legal, or accounting advice. Materials provided by Buy Now Companies and [insert domain name] have been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, or accounting advice. You should consult your own tax, legal, or accounting advisor with regard to your own tax, legal, or accounting scenario. Nothing on this webpage shall be construed as a contractual commitment or as a warranty. Services conditions are governed by the applicable terms and conditions.

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