International Business Company (Company limited by shares)
Seychelles is a popular offshore financial center and a growing international company formation market.
Companies incorporated under the International Business Companies Act, 1994, benefit from one of the quickest company formation worldwide and the lowest annual government fees, which can be as little as $100.
International Business Companies are not considered resident for tax purposes and therefore are exempt from all local taxes, including income tax and withholding tax on payments abroad.
Alternatively, a Seychelles company may request a Special License Company (SLC) and be subject to a 1.5% tax on its worldwide income. This allows access to more than 20 double taxation treaties concluded by Seychelles, and may reduce or waive withholding taxes on income remitted from a foreign entity to a Seychelles company.
To incorporate a Seychelles IBC, only one shareholder and one director is required, who can be either an individual or a corporation and may be non-resident. Seychelles Special License Companies are required to appoint two resident directors.
Members benefit from confidentiality as no details are available in the public registry. Bearer shares may be issued. However, its holders’ details must be stored in the registered office.
Annual reporting is non-existent. IBCs are not required to file annual return or financial statements, although the latter must be prepared and kept in the company registered office.
Seychelles has agreed to implement the OECD’s automatic exchange of information for tax purposes (AEoI) by 2018.
Seychelles offshore companies are commonly used for IP holding, estate planning, wealth management as well as a holding company and to conduct business as international trade and affiliate marketing.
Country code – SC
Legal Basis – Mixed (Civil and Common law)
Legal framework – International Business Companies Act, 2016
Company form – International Business Company (IBC) (Private company limited by shares)
Liability - The liability of the shareholders for the company is limited to the amount of their respective shareholdings.
Business restrictions – International Business Companies may do not carry out any economic activity related with financial services, and may not conduct any trade with residents or hold assets within Seychelles.
A Seychelles IBC may maintain Seychelles-based bank accounts and deposits, books and records within Seychelles, professional relationship in Seychelles with attorneys, accountants, trust and management companies, investment advisers or other similar persons, may hold meetings of its directors in Seychelles and it may hold shares, debt obligations or other securities in another Seychelles IBC or in a Seychelles domestic company. A Seychelles IBC may also own a vessel or and aircraft registered in Seychelles.
Share capital – There is no minimum subscribed and paid-up capital required and it may be denominated in any currency. The amount of the authorized capital can be freely determined at incorporation.
Shares may be issued as registered shares only, and any of these may be designated as voting shares, non-voting shares, shares having more or less than one vote per share, shares that may be voted only on certain matters or upon the occurrence of certain events, shares that may be voted only when held by persons who meet specified requirements, no par value shares, unnumbered shares, common shares, preferred shares, redeemable shares and shares that entitle participation only in certain assets.
A Seychelles IBC may not issue bearer shares.
Shareholders – An IBC may be formed by a minimum of one shareholder who can be either natural or legal persons, residents or non-residents, without restrictions. Details of shareholders are not publicly disclosed.
Directors – At least one director is required, who may be a natural person or a legal entity, resident or non-resident, and may be the sole shareholder. Details of directors are not available to the public.
Secretary – The appointment of officers such as a secretary is optional, and may be an individual or a corporation, resident or non-resident.
Registered Address – An IBC must have a registered office in Seychelles, provided by an authorized registered agent.
General Meeting – Annual general meeting of shareholders are not mandatory and can be held anywhere. Meetings can be held by telephone or other electronic means; alternatively, directors as well as shareholders may vote by proxy.
Electronic Signature – Permitted.
Re-domiciliation – A foreign entity can be re-domiciled as a Seychelles IBC, and vice versa..
Compliance – IBCs must keep accounting records, which may be kept anywhere and in any currency. Financial accounts are not required to be filed and there is no requirement to file annual or tax return.
IBCs must pay an annual government fee ($100).
- Shareholders not disclosed
- Directors not disclosed
- Corporate shareholders permitted
- Corporate directors permitted
- Local director required
- Secretary required
- Local secretary required
- Annual general meetings required
- Redomiciliation permitted
- Electronic signature
- Annual return
- Audited accounts
- Audited accounts exemption
- Exchange controls
- Mixed (Civil and Common) Legal basis
- 1 Minimum shareholders
- 1 Minimum directors
- USD 1 Minimum issued capital
- - Minimum paid up capital
- USDAny Capital currency
- Anywhere Location of annual general meeting
- 2017 AEOI
Corporate income tax – Companies incorporated under the International Business Companies Act are not subject to taxation. All trading income, investment income, capital gains, compensations, rents and royalties derived from outside of Seychelles are exempted from taxation.
Other taxes – In the Seychelles there is no capital gains tax, real property tax, inheritance tax or estate duty, capital transfer tax, gifts tax or wealth tax. The main tax on resident individuals is income tax on their income accrued in Seychelles at a maximum rate of 15%.
There is VAT at 15% levied on the supply of goods and provision of services.
- Offshore Income Tax Exemption
- Offshore capital gains tax exemption
- Offshore dividends tax exemption
- CFC Rules
- Thin Capitalisation Rules
- Patent Box
- Tax Incentives & Credits
- Property Tax
- Wealth tax
- Estate inheritance tax
- Transfer tax
- Capital duties
- 0% Offshore Income Tax Rate
- 0% Capital Gains Tax Rate
- 0% Dividends Withholding Tax Rate
- 0% Interests Withholding Tax Rate
- 0% Royalties Withholding Tax Rate
- 0 Losses carryback (years)
- 5 Losses carryforward (years)
- 0% Personal Income Tax Rate
- 15% VAT Rate
- 41 Tax Treaties
The Republic of the Seychelles is a country member of the Commonwealth, comprised by a group of 115 islands located in the Indian Ocean, to the northeast of Madagascar, with a total surface of 455 sq. km.
It is inhabited by about 100,000 people. Its capital is Victoria, the only city in the archipelago, located on the island of Mahe and inhabited by a third of the population. It has the only international port and airport of the country, which receives flights from the most important international airports worldwide.
Its official languages are English, French and Seychellois Creole, a French based creole. The Seychellois Rupee (SCR) is its official currency.
The president of Seychelles is the head of state and government. It is elected by universal suffrage for a term of five years.
The Seychelles parliament is unicameral and is called the National Assembly. It is made up of 34 deputies, 25 of whom are directly elected by popular vote in single-member constituencies, and the remaining nine are elected proportionally by the total number of votes to each party.
The main economic sectors are Tourism, with over 300,000 visitors in 2016, fishing and financial services. Other important industries include processing of coconuts and vanilla, coconut rope, construction of boats, printing, furniture and beverage. The public sector is considerably large employing two thirds of the labor force.
The financial services sector is the other pillar of its economy, offering offshore banking services, offshore companies registration, registration of investment funds and insurance companies, vessels registration, among others.
Tax treaties Map
Seychelles International Business Company (IBC) – US$1,600.00 (All Included)
We pride ourselves in providing the best possible professional service which includes our honest hassle free “No Hidden Fee” policy. Your incorporation package includes:
- Government incorporation and filling fee
- Bound set of Constitutional Documents
- Certified Copies of Constitutional Documents for bank account opening
- Registered Agent & Registered Office Fee
- Courier fees
Time to form: 2 weeks.
All our incorporation services include a yearly consulting session, a dedicated account manager and access to our global network of trusted business services, including introductions to accountants, financial, tax and legal advisors at no cost.
Bank Account Options
- Offshore Bank Account* (Remotely) – US$300.00
- Mauritius Bank Account (Remotely) – US$500.00
- Labuan (Malaysia) Bank Account (Remotely) – US$500.00
- Curaçao Bank Account (Remotely) – US$500.00
- Hong Kong Bank Account (In-person) – US$1,200.00
- Singapore Bank Account (In-person) – US$900.00
- Crypto-Friendly Bank Account (Remotely) – US$3,000.00
We include introductions to payment processors or merchant accounts with all of our incorporation services. Whether you just need standard credit card processing or specialized services for high risk processing, we are happy to help you with introductions that can empower your business.
*Offshore Bank Accounts: Belize, Puerto Rico, Nevis, Antigua, Saint Lucia. Other bank account options may be available depending on business profile and turnover.
Annual Fees (2nd year) – US$800.00
- Government fee
- Registered Agent & Registered Office fee
- Nominee Director(1 year) – US$350.00
- Nominee Shareholder(1 year) – US$350.00
Click here to incorporate your Seychelles IBC.