There’s quite a few advantages to registering an IBC in Seychelles. So, let's take a quick look at some of them.
Seychellois IBCs only have to pay taxes on profits received in the Seychelles. IBCs aren’t required to pay stamp duties, either.
Qualifying for exemption from corporate tax requires:
- not doing business in Seychelles;
- not owning immovable property;
- not being involved in banking or insurance activities;
- not being involved in activities related to securities;
- not being involved in gambling activities;
- not being involved in any fund-related activities (unless they have a mutual or hedge fund license).
Failure to meet the above requirements will disqualify a company from tax exemption; however, it’ll still be able to engage in the following activities:
- opening bank accounts & make deposits;
- maintaining financial records;
- hiring lawyers & consultants;
- holding BoD meetings;
- owning shares or other securities;
- owning Seychelles-registered air- or watercraft.
Those seeking to register an IBC in Seychelles won’t be required to provide information about its actual beneficial owners. Information about BoD members & documentation (e.g. minutes) is also deemed confidential; however. information about BoD members must be provided to the authorities upon request. The only documentary information available to the general public is the MoA & AoA.
Setting up an IBC in Seychelles costs only one hundred dollars, with the identical amount being charged on an annual basis. The fee is the same for all IBCs, regardless of their size or capital amount.
There’s no requirement for the minimum contributed capital, nor the amount of authorized capital.
Establishing an IBC in Seychelles requires having only one director & shareholder (who can be the same individual). The former can be a legal or physical entity; they aren’t required to reside in the Seychelles. BoD meetings can be held whenever & wherever an IBC’s directors wish; they can be conducted by phone or other means of communication. BoD members or stakeholders can even vote by proxy.
Opening an IBC in Seychelles requires having a physical address & appointing a Seychelles-registered agent. The latter will be responsible for handling all matters related to IBC registration in Seychelles. IBCs don’t have to comply with any DTTs, especially if they’re structured properly. All documents must be submitted in English, which is also very handy
There’s no requirement for the minimum amount of paid-up or stock capital; hence, it can be independently determined by an IBC’s owners. There’s no deadline for contributing such capital, either.
Please note that IBCs are forbidden from issuing bearer shares (only registered ones). Shares can be redeemable, simple, numbered or privileged. They can provide their holders with different rights, such as having multiple votes or voting only on certain issues. Please note that being eligible to vote requires meeting certain requirements.
Establishing an IBC in Seychelles under an already taken, identical, misleading or offensive name is forbidden. Using words like "insurance", "fund", "bank" & the like isn’t permitted either. Using words implying the patronage of the Seychelles government or other countries is strictly forbidden.
Seychelles: IBC Registration
Launching a business in Seychelles requires submitting incorporation documents to the SIBA. If the documents are correctly drawn up & certified, the registration procedure won’t take more than a week.
Considering opening a company in Seychelles? Need advice on IBC regulation in Seychelles? Why not contact IQ Decision UK?