Our specialists in company incorporation in Seychelles can provide you with the necessary information and details about Seychelles offshore company formation and the conditions in this matter. We can also offer specialized company formation services to foreigners looking to set up Seychelles offshore companies.
Known as a tax haven, Seychelles is a preferred business destination for investors who want to improve their businesses by making the tax planning more effective and protecting their assets by Seychelles offshore company formation. In this matter, an offshore company in Seychelles can be useful, and a suggested form of business for international entrepreneurs is setting an IBC (International Business Company) offshore in Seychelles.
As a general definition, the offshore company is a business created with the purpose of completing various types of activities outside the country it is registered in. Seychelles offshore company formation represents one of the important ways of protecting one’s personal assets. In order to be considered an offshore company, the founders must establish this in the Articles of Association.
Seychelles is known at a global level for its favorable regime available for foreign investors. This jurisdiction is also one of the most appreciated business destinations for offshore company formation, providing a set of tax advantages, such as tax exemptions foreign investors can benefit of.
When starting a business in a foreign country, such as Seychelles, it is recommended to request legal representation from specialists who are familiarized with the local commercial legislation, tax system and reporting requirements.
Types of companies
Offshore (International Business Company)
Special License Company
Limited Liability Company
Minimum share capital for IBC
Minimum number of shareholders for IBC
Time frame for the incorporation (approx.)
Corporate tax rate
0% for the IBC on income derived from outside Seychelles
Dividend tax rate
0% for the IBC
0% for the IBC
Number of double taxation treaties (approx.)
Do you supply a registered address?
Local director required
Annual meeting required
Is accounting/annual return required?
It must be prepared, but not filed with the Trade Register.
Any tax exemptions available?
0% for offshore companies and 1.5% for special license companies
Tax deductions are available for companies in tourism, agriculture and fishing.
How to open an IBC in Seychelles
The International Business Company or the IBC in Seychelles is the preferred type of offshore company because it has a rapid incorporation process and varied tax advantages. An IBC in Seychelles can be ready within two days and it is a business structure that addresses to persons interested in commencing activities on the internet, as counselors, as traders or for the custody of the real estate properties, but not limited to these. The following requirements are among the most important ones when it comes to setting up an offshore in Seychelles:
• prepare the Articles of Association and submit them to Registrar Companies in Seychelles;
• appoint the directors of the IBC in Seychelles;
• choose a business address;
• set up a bank account in Seychelles.
IBCs in Seychelles can perform the financial activities in the standard currency, the dollar, but they can also operate under varied types of coins. Likewise, there is no need for a minimum share capital for opening an offshore company in Seychelles, but all the details of this form of business can be obtained from our advisors in Seychelles.
Legislation related to Seychelles offshore company formation
The main law governing the establishment of offshore companies in Seychelles is the International Business Company Law which was last amended in 2016. The name of the law also offers the other name of the offshore company – that of the International Business Company, or IBC in Seychelles.
Another law which provides for the establishment of offshore companies is the Seychelles Commercial Code which presents the legal forms that can be registered as IBC companies. The anonymous company is an example when it comes to a business form which can be used by a foreigner looking to establish an offshore company in Seychelles.
Requirements for setting up a Seychelles offshore company
The IBC in Seychelles Act provides for the requirements which must be fulfilled in order to perform the procedures for Seychelles offshore company formation. These requirements imply having at least one shareholder and one director. There are no restrictions related to the nationality of any of the shareholders and directors. Moreover, the director does not need to be a Seychelles resident. Also, the company can have as many directors as the shareholders want. Corporate directors can also be used for ensuring the management of the offshore company. One of the shareholders can act as a company director. Compared to other types of companies, the Seychelles IBC company does not require a secretary.
The offshore company will need a trade name which can be in any language, however, as a useful tip, most of the times English is used for company names in Seychelles.
Another important requirement for setting up an offshore company is having a registered or legal address in Seychelles. This can be ensured through a virtual office.
Our Seychelles offshore company formation specialists can offer virtual office, as well as nominee services related to the shareholders and company directors. We can also assist with VAT registration in Seychelles.
Documents required to establish a Seychelles offshore company
Foreign enterprisers interested in Seychelles offshore company formation are required to prepare and submit the following documents with the Companies Registrar:
- personal information, such as passport copies which must be certified, in the case of natural persons;
- information about the company, such as the certificate of incorporation and articles of association, in the case of legal entities;
- proof of having a residential address in Seychelles, such as an utility bill no more than three months older;
- in certain cases, the Registrar could request references from a bank showing the good standing of the investor.
Restrictions imposed on IBC companies in Seychelles
Even if the requirements related to the registration of an offshore company are quite relaxed, there are also a few restrictions imposed on those who want to set up such an entity. Among these, the most important one is related to not being allowed to complete any commercial activity in Seychelles. It should be noted that such restriction is imposed no matter the country where the company is created.
The offshore company cannot buy any residential or commercial property in Seychelles and cannot operate in the financial sector. Offshore companies cannot be established with the purpose of completing gambling activities. For such activities, onshore companies must be registered with the Companies House in Seychelles.
Another important restriction that needs to be mentioned is that offshore companies cannot issue bearer shares.
Despite these restrictions, offshore companies in Seychelles are allowed to enter any type of activity and partnership with local companies.
We can help foreign investors who are interested in establishing other types of companies in Seychelles.
We invite you to watch our video on Seychelles offshore company formation:
The advantages of Seychelles offshore company formation
Benefits related to starting an offshore company in Seychelles
One of the first advantages offered by a Seychelles IBC structure is the reduced incorporation time: in a few days the company can be up and running. Also, the offshore company registration requirements are quite simple:
- there can be one shareholder;
- the company is required to have minimum one director;
- the shareholder can be the company director;
- there are no restrictions related to the nationality of the directors and shareholders;
- no company secretary is required;
- no share capital requirements.
The IBC in Seychelles can be used as an investment vehicle by those who want to set up investment funds in this country.
Company administration benefits in Seychelles
One of the greatest benefits related to opening an offshore company in Seychelles is the fact that the annual general meeting of the shareholders does not have to take place in the country, as new technology allows for video-conferences for this meeting.
When it comes to the tax benefits offered by a Seychelles offshore companies, we can mention:
- the lack of taxes on profits or any other type of income;
- the low maintenance and administration costs;
- the repatriation of profits to another country is not subject to any duty.
The characteristics of the Seychelles IBC
The International Business Company, or the IBC in Seychelles, is the most commonly used business form because, as previously highlighted by our agents, it is a versatile business structure. However, investors should be well aware that this type of company is required to comply with several important regulations. Some of the most important aspects to remember are the following:
•Limitations on operating in Seychelles: this company cannot engage in business in Seychelles and it cannot own real estate in Seychelles.
•Mandatory licenses: activities such as banking or insurance can only be performed with a special license.
•Prohibited activities: this company cannot carry out gambling, or securities businesses in Seychelles or operate as a mutual fund, unless it has a special license.
•Asset ownership: although it cannot own real estate, the IBC can have vessel or aircrafts registered in Seychelles.
Assistance in opening an offshore company in Seychelles
accounting services are also available at the request of our clients.
In order to register the company on our clients’ behalf, our Seychelles offshore company formation agents will need a power of attorney.
Hiring personnel for a Seychelles offshore company
Foreign investors who open offshore companies in Seychelles are allowed to hire local workers, however, they can also bring employees from their home country by obtaining work permits on their behalf. The employment procedure is not complicated and can be completed in maximum one month, no matter the residency status of the employees.
Our Seychelles offshore company formation agents can guide foreign investors through the whole procedure of setting up offshore companies. From the preparation of the documentation related to registering the company and nominee services, we can help them set up the company in the minimum period of time possible.
Costs related to starting an offshore company in Seychelles
In order to understand what generates the annual maintenance costs of an offshore company in Seychelles, it is important to first note the costs and fees associated with the registration of such a company.
As a foreign investor, you will need the following:
- to appoint a local registered agent to incorporate the company and represent it before the Seychelles authorities;
- to have the documents related to the incorporation prepared (these will not incur other costs unless they are amended);
- to have a registered/legal address in Seychelles (which will attract annual maintenance costs);
- the fee for obtaining the operating license which needs to be renewed on annual basis, therefore will generate annual costs;
- the nominee services (many foreign business owners request such services for an easier management of the company).
Another fee which will not generate annual maintenance costs is the company registration fee which will be paid upon the incorporation of the Seychelles offshore company.
Annual costs for a registered address in Seychelles
Having a legal address for a business in Seychelles is mandatory, according to the local legislation. When setting up an offshore company the registered address can take the form of a virtual office which can be rented for a few months and up to one year.
We offer virtual office services in Seychelles at very advantageous rates. You can get in touch with our local advisors for a personalized offer.
The maintenance cost of the business license of a Seychelles IBC
No matter the activities to be completed by an offshore company, it will need to obtain a business license which will imply a fee. Considering the license needs to be renewed on an annual basis, this is one of the most important maintenance costs of an offshore company in Seychelles.
The cost of the business license depends in many cases on the share capital of the company. Our consultants can offer more information on share capital and business licensing requirements of an offshore company.
Nominee services maintenance costs in Seychelles
Most offshore companies in Seychelles operate through nominee shareholders and directors. Even if these are not mandatory, they are often requested by foreign entrepreneurs as they have legal representatives who can sign on their behalf and represent them before the authorities.
The nominee services are usually contracted on a yearly basis, which is why they can be considered as annual maintenance costs of the Seychelles offshore company.
Foreign investors can benefit from nominee shareholder, director and account signatory services. We offer such services to all those interested in obtaining them when registering IBC companies in Seychelles.
FAQ on offshore company maintenance costs in Seychelles
Are there any mandatory annual maintenance costs for an offshore company?
Yes, the government imposes a few mandatory fees for the maintenance of an offshore company.
What happens if I don’t pay these annual maintenance fees?
In case you don’t pay the maintenance fees, the activities of the company will be shut down.
Are the maintenance costs of a Seychelles offshore expensive?
Is there a specific timeframe for paying the maintenance fees?
The mandatory fees need to be paid prior to the anniversary of the company’s registration date.
Why is Seychelles an attractive jurisdiction?
Seychelles archipelago is a preferredoffshore jurisdiction due to its attractive financial sector and business environment which suit the needs of numerous investors worldwide. Because there are no taxes foropening offshore companies in Seychellesand due to complete privacy and protection of the assets, more than 100,000 firms are registered in the country.
Offshore companies in Seychelles are also protected in cases of litigation. One should know that the company registration process of an offshore company in Seychelles is less time consuming and can be done in a few working days.
For those wondering how long it takes to perform the procedures for Seychelles offshore company formation, the answer is that it takes one or two days to be completed. However, the opening of the bank account can take longer.
If you have any questions related to the requirements to create an offshore company or if you simply need assistance in starting on, our agents in Seychelles are here to offer specialized assistance.
For complete information about how to set up an offshore company in Seychelles, we invite you to contact our representatives in company incorporation in Seychelles. If you want to start a business in other countries, such as Qatar, we can put you in touch with our local partners.
Options for foreign companies operating in Seychelles
Foreign companies can also operate in Seychelles through branch offices and subsidiaries. The most important difference between these two types of structures resides in the liability of the parent company on the satellite business in Seychelles. If in the case of the branch office, the foreign company will assume total responsibility for the branch office’s debts and obligations, in the case of the subsidiary, the Seychelles company will be an independent business entity.
Our company formation experts in Seychelles can help those interested in setting up branches or subsidiaries here.
Types of companies which can be set up by foreigners in Seychelles
Even if the general impression is that foreigners only set up offshore companies in Seychelles, the legislation also provides for other types of companies and structures which can be set up by local or foreign entrepreneurs. Among these are:
- special license companies (CSL) which are used for conducting onshore financial activities;
- anonymous companies which can be used for onshore trading activities in Seychelles;
- proprietary companies which are the equivalent of foreign limited liability companies;
- trusts which can take two forms and can be used for asset protection purposes;
Our company formation specialists in Seychelles can offer detailed information about all the types of companies foreign entrepreneurs can register here. In case you need company formation services in another offshore jurisdiction, such as the Isle of Man, we can put you in contact with our partners.
Taxation of foreigners owning companies in Seychelles
When it comes to the taxation of foreign individuals opening companies in Seychelles, they can be subject to taxes in their home countries, in accordance with the double tax treaties signed by their home countries with the insular state. This is because offshore companies are subject to a 0% corporate tax in Seychelles.
How can I open a bank account in Seychelles?
Foreign investors in Seychelles can easily open a bank account for a company in Seychelles if the requirements in terms of documents are respected. The company’s documents must be provided plus a letter of recommendation signed by another bank from the country of origin. It is good to know that a bank account in Seychelles is ready in a few working days, and in the case of an account for anoffshore company in Seychelles, the personal data is not available to public disclosure. Our team of advisors can offer in-depth information and assistance for opening a bank account in Seychelles.
Purchasing a shelf company in Seychelles
Entrepreneurs from abroad who are interested in a fast start of the business on the market should know that they have the possibility of buying a ready-made company in Seychelles. Also known as a shelf company, such type of firm is ready to activate on the market, as soon as the ownership transfer takes place. A shelf company in Seychelles can also be used as an offshore company and the main advantage is that there is no need to wait for the incorporation procedure, as all the aspects in this matter are settled. In other words, if you would like to set up a business in Seychelles in a fast manner, you can purchase a shelf company in Seychelles. In order to legally perform the activities in Seychelles, the ready-made company must be re-registered with the new owners with the Companies House in Seychelles. Investors looking to open a company in Seychelles might consider a shelf company as a proper option for their future operations. Our advisors are at your disposal with support for such kind of acquisition.
Features of anonymous and special licensed companies in Seychelles
One of the most employed types of companies in Seychelles is the anonymous company. This business form can be employed by all types of investors and its name is given by the fact that it guarantees complete privacy to its founders.
The anonymous company is the most suitable business entity for those interested in establishing offshore companies in Seychelles. It can also be used for trading purposes.
Opposed to the anonymous company is the special licensed company, shortly known as the CSL. This business form can only complete onshore activities and is also suitable for investment purposes. The incorporation requirements for a Seychelles CSL company are more extensive at it requires minimum two shareholders, two directors, and a secretary.
There are no strict visa requirements for those coming to the Seychelles for business reasons. However, investors are allowed to apply for residence permits, if they want.
3.What are the main types of companies in the Seychelles?
Just like in other jurisdictions, partnerships, limited liability and joint stock companies can be registered in the Seychelles. However, the offshore, or the IBC company is the most employed type of company here.
4.Can I open an offshore company in Seychelles?
The offshore company is known as the international business company (IBC) in the Seychelles and yes, it can be registered here. Our Seychelles company formation agents can help you set up such type of company.
5.What are the steps to set up a company in Seychelles?
The preparation of the incorporation documents, their filing with the Trade Register and the tax registration are the main steps related to opening any type of company in the Seychelles. In certain cease, special licenses may be required.
7.How long does the company registration process take in the Seychelles?
The company incorporation procedure is quite fast in Seychelles. We remind you that our local consultants can assist with the drafting and filing of the documents with the authorities in Seychelles.
8.What taxes does a company pay in Seychelles?
From a taxation point of view, the Seychelles is a very appealing destination. It provides for many tax incentives granted under the form of deductions or exemptions.
9.Why open a company in Seychelles?
The Seychelles is a very appealing financial center and offers many incentives to foreign investors. Also, foreign businessmen opening IBC companies in the Seychelles benefit from enhanced privacy and asset protection solutions.
The business environment in Seychelles
Seychelles is an independent state, part of the British Commonwealth, and has one of the fastest foreign company registration processesworldwide, through the IBC companies. With a prolific development in numerous industries, the government in Seychelles is open to all kinds of investments in the insular state. As it is known, Seychelles is an important transit point for trading purposes between Asia and Africa.
The entrepreneurial framework in the country made the government focus the attention on the overall regulatory productivity, eliminating several taxes and boosting transparency in the business background. Since 2015, Seychelles is known as a “high income” state, according to the World Bank classification. The easy ways of registering businesses in the archipelago state made numerous investors implement and develop their activities in a wide range of performant industries.
For a suitable understanding of how a foreigner can open an IBC company in Seychelles, you may address your questions to our team of company formation agents in Seychelles. Please contact us for details in this matter.
For any further information on Seychelles offshore, you can rely on our team of consultants, who can help you with all the registration formalities.
Our team can assist investors with advice on the capital requirements they must comply with, the taxes they must pay for their company, or the reporting requirements and management requirements imposed to offshore businesses. Contact us for more details about Seychelles company formation.
A Seychelles offshore company benefits from numerous tax exemptions. Tax deductions are also available as per the double tax treaties signed by the authorities of the country.
Tax agreements have been signed with countries such as Luxembourg, Malaysia, Sweden, Norway, Cyprus, Monaco, Indonesia, etc. Please mind that if you will hire employees, you will need to pay employment taxes.
Thus, if you will set up a Seychelles IBC that will need employees, the law states that the company must pay social security.
Social security in Seychelles is charged at a rate of 20% (this rate is imposed to employers), while the employees have to pay a social security tax of only 2.5% from their salaries.
As said above, companies can benefit from the provisions of double tax treaties, and currently, Seychelles has signed 28 such agreements.
Call us now at +230 5252 6703 to set up an appointment with our business consultants in Victoria, Seychelles. Alternatively you can incorporate your company without traveling to Seychelles.
As a our client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Seychelles.