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Taxation of an IBC in Seychelles

Updated on Wednesday 24th January 2018

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Taxation-of-an-IBC-in-SeychellesAmong the types of companies preferred by foreign investors who start businesses in Seychelles is the international business company, simply known as the IBC. Compared to a special license company, the IBC offers several advantages related to confidentiality and accounting and reporting requirements with the Seychelles authorities.

There are also various tax advantages offered to those who open IBC companies in Seychelles. Our company formation consultants in Seychelles can explain how IBCs are taxed in this country.

Tax legislation applicable to IBCs in Seychelles

The legislation related to starting an IBC in Seychelles was amended in 2016, however when it comes to the taxation of such entity, it remains under the Business Tax Act which provides for tax exemptions. This is because the IBC is prohibited from engaging in any commercial activity in Seychelles.

Foreign investors who want to open offshore companies in Seychelles can register them here, however the activities of the company must be carried outside the country and this is how the taxation or better said the tax exemption applied to an IBC is explained. The exemption applies for a period of 20 years in the case of a Seychelles offshore company.

Our Seychelles company registration advisors can help you register an IBC here.

Are there any taxes paid by a Seychelles IBC?

It should be noted that a Seychelles IBC company is not subject to any taxes as long as the condition of not having business activities in the country is satisfied. However, foreign investors who want to set up an offshore company in Seychelles must consider the business start-up costs such as the licensing fees, the capital which must be deposited for incorporating the company, the fee of the registered agent.

Also, most foreign investors who set up IBCs in Seychelles require nominee and accounting services which enter the category of maintenance costs.

Foreign enterprisers must know that the IBC cannot benefit from the double taxation agreements signed by Seychelles.

If you are interested in starting an international business company in Seychelles and need assistance with the registration, do not hesitate to contact our local agents. We can also help you set up a CSL company if you want to trade locally.

 

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