OUR OFFICES: LONDON, UK Office | +44 20 3769 1690  –  CORK CITY, Ireland Office | +353 21 202 8069  –  Contact Monday to Friday: 9 am to 6 pm GMT time  –  Skype: CALL | CHAT

OUR OFFICES:
LONDON, UK Office | +44 20 3769 1690
CORK CITY, Ireland Office | +353 21 202 8069
Contact Monday to Friday: 9 am to 6 pm GMT time 
Skype: CALL | CHAT

SET UP YOUR BUSINESS IN
SEYCHELLES

We support all worldwide
Investors & Entrepreneurs
Setting up their Business overseas

Eurofinanzza Tax Legal Law Center
Corporate Tax & Legal Consultors
Since 1998

Seychelles
International Business Company

The Seychelles group of islands in the Indian Ocean comprises over one hundred named islands, most being situated between four- and five-degrees South of the equator. The largest island is Mahé.

The Seychelles economy is primarily tourism and fishing based. Industrial fishing is on the increase.

The rapidly expanding financial sector, linked to the establishment of the Seychelles International Business Authority and a suite of progressive laws facilitating the establishment of offshore structures and encouraging inward investment, is now a significant element of the economy.

An ever-increasing number of international banks and insurance companies have established either branches or subsidiaries whom, together with local management, accounting and legal firms provide clients with support.

The Port of Victoria is well equipped with modern cargo handling equipment and has more than 6,000 square meters of covered storage space.

The Seychelles International Airport is one of the finest in the Indian Ocean region. In addition to the national flag carrier, Air Seychelles, the airport is served by a number of other airlines.

Principal Corporate Legislation
IBC Act 2016 has been introduced, repealing and replacing (IBC Act 19949, adding major policy changes in the corporate law regime of the Republic of Seychelles.

This Act addressed the concerns of the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) and to be in line with the Financial Action Task Force (FATF) standards and to work towards a re-enforcement of the Anti-Money Laundering framework of the Republic of Seychelles. On the 30 November 2018 the Seychelles enacted the International Business Companies (Amendment) Act, 2018 (“Amendment Act”) which amends the International Business Companies Act,2016 (“IBC Act”).

The main amendments under this Amendment Act are as follows:

  • Removal of public access to filed Register of Directors;
  • Extension of the powers of the Registrar to restore struck-off companies;
  • Extension of time period to compliance with the filling of Register of Directors and obligations relating to Beneficial Owners;
  • Extension of time period for dissolution of company.
Legislative Changes in the Seychelles 2018

Since January 1, 2019, a number of important changes have occurred in the legislation of the Seychelles. They will deal with two important aspects – 1) regulation of the activity of companies with local companies and 2) preferential parameters for IBC companies.

Based on the International Business Company Act 2004 (the latest changes in which took place on November 26, 2018, and entered into force on January 1, 2019), an IBC type company now has no right:

  1. To attract to the acquisition of their own goods or services, the local target audience. The company can interact only with non-residents of the Seychelles from any regions.
  2. To acquire ownership of real estate or another business in the Seychelles. The concept of “real estate” includes land, buildings for industrial and residential purposes, garages, warehouses, etc.
  3. Cannot carry out banking or insurance activities; in order to advance in these areas, registration in another organizational and legal form is required, as well as additional licensing.

In other words, if the IBC conducts any financial activity in the Seychelles, this should be displayed in the tax return. It is also important to know that according to the rules of the local FSA regulator, the submission of tax documentation can be initiated by the FSA under the AML program.

Also, this Companies Act in the new edition abolishes the income tax benefit in the amount of 1,5% in full. This Act also removes the exemption from withholding tax. However, companies operating under a special license (CSLs type of license) registered before October 16, 2017, may still fulfil the tax benefits and are exempt from taxation until June 30, 2021.

As in Saint Vincent and the Grenadines, a system of territorial (local) taxation will be introduced on the territory of the Seychelles. However, as we have said, some companies will be exempted from its operation until 2021, but those companies that will be registered in 2019 fall under this principle from the second quarter of 2019.

For more information on changes regarding the change in the procedure for registering a company in the Seychelles, please contact our Team; one of our Business Development Managers will be happy to guide and assist you.

General Company Information

General
Type of entity – IBC
Type of Law – Hybrid
Shelf company availability – Yes
Our time to establish a new company – 2 days
Minimum government fees (excluding taxation) – US$150
Corporate taxation – Nil
Double taxation treaty access – No

Share Capital or Equivalent
Standard currency – US$
Permitted currencies – Any
Minimum paid up – US$1
Usual authorised – US$5,000

Directors
Minimum number – One
Local required – No
Publicly accessible records – No
Location of meetings – Anywhere

Shareholders
Minimum number – One
Publicly accessible records – No
Location of meetings – Anywhere

Company Secretary
Required – No
Local or qualified – No

Accounts
Requirement to prepare – Yes
Audit requirements – No
Requirement to file accounts – No
Publicly accessible accounts – No

Other
Requirement to file annual return – No
Change on domicile permitted – Yes

As to the company incorporated your International Business Company in Seychelles, costs will be:

Features and Benefits of Seychelles IBC’s
Seychelles IBC’s, (being based on the classic Bahamas and British Virgin Islands IBC Model), offer the most attractive privacy features currently on offer anywhere in the world. Unlike the historically popular Caribbean and Channel Islands IBC Centres (most of which, as British Colonial territories, are facing enormous pressure to bring their privacy features and tax rates into line with the rest of Europe) Seychelles is a politically stable and independent republic.
Services offered
  • Incorporation, management and administration of Seychelles IBC companies and Seychelles CSL companies (Zero tax IBCs incorporated within 24 hours).
  • Company secretarial services.
  • Provision of professional directors and nominee shareholders.
  • Registered office services.
  • Seychelles trust formation & trustee services.
  • Seychelles yacht and ship registration.
  • Introductions to Seychelles’ professional network of company secretarial and offshore planning experts.

Start your Business Project now!

Contact us Now!

One of our Business Development Managers will promptly answer your enquiry!

There is dedicated team in our Head Office available to deal with your enquiries regarding any of our five offices. We aim to respond to all enquiries within 24 hours.

Whether you are an existing client or interested in Eurofinanzza services, we would be happy to hear from you via any of our available communication networks: telephone, email, live chat, and enquiry form.

We look forward to hearing from you!

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