Seychelles – Revision of Fees under IBC Acts
Starting on 1 April 2020 the Seychelles Financial Services Authorities will increase the incorporation and renewal fees in relation to Seychelles incorporated International Business Companies.
Seychelles offers attractive offshore formation opportunities through an International Business Company (IBC) to businesses seeking the benefits of a secure, confidential and tax efficient environment. Seychelles has been offering clients offshore formation packages since the passing of the International Business Companies Act in 1994, and has grown rapidly in the sector due to its flexible structure, exceptional protection regulations and enabling legislation, making it among the best jurisdictions for offshore company formations. Seychelles is a flourishing offshore financial center; its formation market has become one of the fastest growing company registries in the world due to its efficacy, innovation and its broad range of offshore services. Investors and businesses are flocking to Seychelles, taking advantage of its low cost, strict confidentiality laws and flexible incorporation regulations making the formation process simple and efficient.
If you are looking for a jurisdiction with firm privacy regulations and tax-free opportunities in a supportive offshore environment, Seychelles may be the perfect choice for your next offshore company formation. Our key services include IBC incorporation, bank account opening and application of regulated licenses in Seychelles.
Type of Company
International Business Company (“IBC”)
Time to Incorporate
1-2 working days
Disclosure of Director / Shareholder Information / Beneficial Owner
Disclosure of Director / Shareholder Information / Beneficial Owner Information of director(s), shareholder(s) and beneficial owner(s) is not accessible publicly, however a copy of the Register of Directors must be filed with the Registrar of Companies.
Taxation
A Seychelles IBC is now tax resident in Seychelles and no longer tax exempt. If an IBC carries on business in Seychelles it must pay Seychelles business tax. If an IBC only source foreign income, it is not liable for Seychelles tax on any of its income or profit. Seychelles has a territorial tax system such that a Seychelles tax resident is liable for Seychelles tax on Seychelles sourced income but not on foreign sourced income.
Minimum Director
At least 1 director who can be natural person or corporate body
Minimum Shareholder
At least 1 shareholder who can be natural person or corporate body
Audit Requirement
No audit requirement for accounts
Filing of Accounts
Required to prepare accounts / Accounts are not accessible publicly
Filing of Annual Return
Mandatory with Registered Agent
* Fees vary based on the actual costs charged by the government
The information in this article is of a general nature only. We have made every effort to ensure that the information included herein is up-to-date and accurate, we do not accept any responsibility for any inaccuracy, errors or omission. We strongly recommend that applicable professional advice be taken prior to purchasing any company.