The financial services sector is reported to be the most rapidly growing sector of Seychelles’ economy, with the Seychelles seen internationally as an increasingly established and competitive jurisdiction for the domiciliation of International Business Companies.
Type of company: International Business Company (IBC)
Company law: International Business Companies (IBC) Act, 1994 (as amended).
Obligatory Requirements of Seychelles companies:
Offshore companies must have a Registered Office and Registered Agent in the Seychelles and cannot conduct its business activity on the territory of Seychelles.
Minumum capital of a Seychelles Company:
There is no requirement to the size of the authorized share capital. Usually the authorized share capital is 100,000 USD divided into 100,000 shares of 1,00 USD each. No paid-up capital is required.
Restrictions:
IBCs are not permitted to pursue activities within the banking sector, may not pursue insurance business activities, may not be active as funds or investment management companies. IBCs must pursue their business activities outside of the Seychelles. They are not allowed to own real estate in the country and may not offer their shares publicly.
Taxation: None (for offshore companies)
Double Taxation Treaties: None (for offshore companies)
Annual tax filing: No
Annual financial statement: Have to be made, however they are not checked nor do they have to be submitted.
Company secretary: Not compulsory
Directors of Seychelles Companies: The minimum number of directors of a Seychelles company is one, it can be both, either corporate entity or natural person. There is no requirement to nationality and residence.
Shareholders of Seychelles Companies: The minimum number of shareholders of a Seychelles company is one, it can be both, either corporate entity or natural person. There is no requirement to nationality and residence.
Disclosure of the ultimate beneficial owner: Confidentiality can be achieved through the appointment of trustees.
Directors publicly known: No.
Shareholders publicly known: No.
Shareholders/Directors Meetings: Meetings can be held anywhere in the world.
Bearer Shares: Not allowed.
Control of foreign currency: Not for IBC.
Name of a Seychelles Company: In English or French
Language of company documents: English or French
Keeping of Documents of the Company: The Register of Directors, Register of Members and Register of Beneficial Owners must be kept at the company’s registered office in Seychelles. The rest of the operational documents, such as Resolutions, Minutes can be kept outside of the territory of Seychelles.
Keeping of Accounting Records: Seychelles companies must maintain and keep proper bookkeeping and financial records which must reflect the real business activity of the company in a correct matter as per the recommendations of the law. There is no obligation to keep the bookkeeping records in Seychelles. Bookkeeping records can be kept anywhere in the world.
Filing of Annual Return: Annual Return must to be filed on annual basis with the Registered Agent.
Duration of incorporation: 2 working days
Re-domiciliation: It is possible to-domicile foreign offshore company to Seychelles and also to re-domicile Seychelles companies to other offshore jurisdiction.