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Company Formation Seychelles



Accounting Requirements for Companies in Seychelles

Updated on Wednesday 18th July 2018

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Offshore companies in Seychelles are registered anonymously and are not subject to the annual financial report as numerous companies are. Being an offshore jurisdiction, the taxation system is advantageous because there are no taxes on dividends, capital gains, royalties, interests, and rents. However, a company in Seychelles must keep its own accounting records in matters of transactions, invoices and many others. In compliance with the legislation in Seychelles, our specialists in company formation in Seychelles can offer accounting services for your company and can explain the requirements in this matter.

Company accounting and reporting requisites in Seychelles

In order to comply with the OECD’s recommendations, the Seychelles government amended the International Business Companies Law in 2011, when new accounting standards were enforced. These standards provide for:

  • -       Seychelles offshore companies to keep accounting records which show the accuracy of their transactions;
  • -       the accounting documents must be clear enough for the tax authorities to be able to verify them;
  • -       the tax authorities must also be able to determine the financial status of an IBC company based on its financial statements;
  • -       the amended law also provides for Seychelles IBC companies to be able to prepare accounts and other financial documents.
We also invite you to watch our video on the accounting requirements for Seychelles companies:

Accounting records in Seychelles

Establishing an IBC (International Business Company) in Seychelles comes with numerous advantages from which we mention the most important ones: complete privacy and tax exemptions. But the transactions made by an IBC in Seychelles must be recorded internally in a proper manner. The good part is that such a company is not obliged to prepare the audited annual records, but please remember that accounting records are necessary and also sufficient in such company. For example, an offshore IBC must keep accounting books in order to register the company’s assets, receipts, invoices, contracts, acquisitions, sales or other financial transactions. Such accounting records are kept in the company’s main office, or in other places if the director of the company considers so. We remind that the accounting records of an offshore in Seychelles is not subject to public disclosure, and furthermore, these documents must be kept for seven years.

When choosing Seychelles for protecting the assets, we suggest you address to our company incorporation agents in Seychelles for registration matters among many other related services.

Penalties for not keeping the records in Seychelles

Business persons worldwide choose Seychelles for creating offshores and protecting their money and assets. As it is known, there are no taxes levied on registering the company or on profits, which is why Seychelles became a preferred offshore jurisdiction. The main requirement in this matter as stipulated by the law in Seychelles is related to the accounting records which must be prepared and controlled inside the company without having to display it publicly for 7 years. One should know that if such accounting records are not considered, the owner of the offshore can be penalized for each day of non-compliance in this matter.

Other accounting requirements in Seychelles

Bookkeeping, payroll administration, preparation and maintenance of accounting records, preparation of statutory financial statements and audits, besides full tax compliance services can be solicited for your company in Seychelles. Our advisors can offer such accounting services in conformity with the legislation in the insular state.

Taxation in Seychelles

The Seychelles taxation system implies the following taxes:

  • -       the income tax which is levied on companies with activities in Seychelles at a rate of 25%;
  • -       the lack of capital gains, dividend, inheritance or property taxes in Seychelles;
  • -       withholding taxes are levied only on non-residents at rates varying between 15% and 33%;
  • -       Seychelles IBC companies are exempt from taxes for a period of 20 years.


If you want to know more details about the accounting requirements and the taxation of companies in Seychelles, we invite you to get in touch with our team of company incorporation agents in Seychelles.




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