How to Register An IBC in Seychelles
Are you interested in setting up an international business company (IBC) in Seychelles? We have all the details into what makes this Indian Ocean archipelago a popular destination for registering offshore corporations. We’ll show you how to register an IBC in Seychelles and highlight the requirements your firm will have to satisfy to achieve offshore company status.
But first, what are Seychelles?
Seychelles is an archipelago in the Indian Ocean northeast of Madagascar. It’s the smallest country in Africa consisting of 155 islands, with 42 being granitic. Mahe is the largest island, and it’s home to Victoria, the country’s capital and 90% of the Seychelles population. Since gaining independence from the United Kingdom in 1976, its primary economic drivers are tourism and tuna fishing. Its offshore financial services sectors are some of the industries that the Seychelles government has been promoting in an effort to diversify its economy.
What are the requirements that a Seychelles IBC meet?
A Seychelles IBC has to keep a Register of Directors and Register of Shareholders at any address in Seychelles. The Registrar of Companies must know of its locations, but this information is not publicly disclosed. If you are looking for more confidentiality, many Seychelle-based offshore entities employ nominee services but note that this practice is not a requirement.
The Seychelles IBC must have a registered agent and office, and it may maintain a deposit and bank account that are based in Seychelles. A firm must also pay a $ US 100 government fee when you register your IBC and then every successive year in operation afterwards. Every IBC, regardless of the size and earnings, will pay this amount. In other offshore jurisdictions, you may pay more if your authorised capital exceeds a threshold.
How can I register an offshore IBC in Seychelles?
You need to submit a proposed name for your Seychelles IBC, along with the appropriate suffix. You must also have a translation to accompany those documents if your documents are not in English or French. The full registration process can take just take two days if you have all your documentation in time and you can be approved in only half an hour.
What are the advantages of a Seychelles IBC?
What makes a Seychelles IBC an advantageous offshore company setup? As long as your Seychelles IBC does not do business inside Seychelles, you do not have to pay taxes on your income. You can, however, do business with other Seychelle IBCs. Here are some of the other perks of having your offshore corporation with the Seychelles IBC structure:
- You do not have to provide accounting records, file account information or submit tax returns, as long as you conduct all of your business and generate your income outside of Seychelles.
- Full tax exemption on all transactions that you carry out beyond Seychelles territory.
- High level of corporate confidentiality.
- No minimum share value requirement.
While the only way your Seychelles IBC is not subject to paying tax is through conducting all business abroad, you are allowed certain powers. Along with maintaining bank and deposit accounts, your Seychelles IBC can:
- Maintain your records and books in Seychelles.
- Have professional relationships with accountants, trust and management firms, investment advisories, attorneys or other entities of this kind in Seychelles.
- Own a plan or boat that has its registration under the Seychelles flag.
- A Seychelles resident may be a shareholder in the Seychelles IBC.
- Host meetings for its directors in Seychelles territory
Are you ready to register your IBC in Seychelles?
If you’ve decided that Seychelles is the right fit to register your IBC, Europe Emirates Group has the expertise to make the process seamless. We’ll help you prepare all the necessary documents and ensure that you can enjoy all the perks that come with enjoying one of the top offshore company jurisdictions in the world. Contact us today.
Team Leader- International Corporate Services Division, Europe Emirates Group