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The Restrictions for IBC Companies in Seychelles

Updated on Tuesday 19th December 2017

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The-restrictions-for-IBC-companies-in-SeychellesForeign investors who come to the Seychelles islands are attracted by the types of companies they can set up here and by the taxation system which is very advantageous for some of them. The best combination between the type of business form and the tax it must pay is the offshore company in Seychelles. Also, known as the International Business Company, or IBC, the offshore company offers several benefits, among which shareholder protection to foreign enterprisers. However, Seychelles IBCs come with certain restrictions.

Our company formation consultants in Seychelles can help foreign entrepreneurs who want to open offshore companies here.

Restrictions imposed to offshore companies under the IBC Act in Seychelles

Before enumerating the restrictions imposed to offshore companies in Seychelles, it should be noted that this type of company is regulated by its own law – the IBC Act. The law provides for the following restrictions related to opening and managing an IBC company in Seychelles:

  • -          it may not perform any business activities in the Seychelles;
  • -          it may not own any property in Seychelles;
  • -          it may not operate in the insurance sector in the country;
  • -          it may not sell or purchase securities in Seychelles;
  • -          it may not engage in gambling activities in the country;
  • -          it may not be constituted as a mutual fund.

Our Seychelles company registration agents can offer full information on these restrictions imposed to offshore companies.

Restriction exceptions in the Seychelles

Even if the restrictions may seem many, foreign investors who want to open IBC companies in Seychelles must know that there are also a few exceptions to these impositions. Among them are:

  • -          even if the offshore company cannot undertake any activity in the country, it can engage in commercial activities with another IBC registered in the Seychelles;
  • -          the offshore company may open a bank account in the Seychelles;
  • -          it may own a vessel or aircraft registered in the Seychelles;
  • -          rent properties in the Seychelles.

The meeting of the shareholders and managers can also be held in Seychelles, even if the company is an IBC. Related to shareholders and managers, we remind you that we offer nominee manager and shareholder services.

For full information on the advantages of setting up an offshore company in the Seychelles, please contact us.

 

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