An Essential Guide For Seychelles Company Formation

An Essential Guide For Seychelles Company Formation

The formation of an offshore company has tremendously boosted Seychelles because of its favorable tax regime and policies on privacy. Starting a company in Seychelles particularly an International Business Company (IBC) comes with several benefits such as; absolutely no taxation on any income earned from another territory, no requirement of a minimum capital subscription, and confidentiality of the shareholders and directors. The incorporation procedure is rather uncomplicated, and it can take as little as several days to complete the whole process. therefore doing business in Seychelles is quite easy and efficient. 

Company formation is an important aspect of the global market and it requires compliance with the legal provisions set in each country. Seychelles IBCs are governed by the Seychelles International Business Companies Act which is the legal framework of IBCs incorporation and operation. Another notion that prospective entrepreneurs ought to know is that when forming a company in Seychelles, you must register an agent and have a local registered address. For those willing to start a company in Seychelles, the process could be rather easy if they had proper managerial experience and complied with the legal requirements of the country.

Understanding Seychelles Company Formation

If you are planning company formation in Seychelles, you are contemplating an International Business Company which is indeed a flexible and tax-efficient structure.

Basics Of Seychelles IBC

Seychelles IBC means International Business Company which is a corporate legal structure for conducting various businesses. Here are the factors in defining the major characteristics:

  • Legal Framework: Seychelles IBCs are regulated by the IBC Act of Seychelles known as Seychelles International Business Companies Act.
  • Structure: The minimum number of shareholders and directors is one. It is also allowed that the founder of the company acts as a shareholder and a director so there will be no complications and outsider interference.
  • Privacy: There is no information about the directors of the business or shareholders.
  • Simplicity: The process is fast with a lot of emphasis on the reporting system.

Advantages Of Offshore Company Formation

The formation of an offshore company in Seychelles provides some of the following benefits.

  • Taxation: Seychelles IBCs are free from taxes on income dividends, interest, and royalties earned from outside the country.
  • Asset Protection: Seychelles has favorable IBC laws that allow you to set up the IBC and shield your assets in case there are threats of either claim or creditors.
  • Flexibility: There are no restrictions to the exchange controls hence permitting free capital flow for the business operations.

You can choose to form the company in Seychelles because it provides you with identity confidentiality, advantageous tax conditions, and flexible opportunities to control the business’s function based on the stable legal framework that is ready to support international business companies.

It is essential to understand the legal framework that controls company law when forming a company in Seychelles for the legal requirements and privacy of your company.

Company Law In Seychelles

Two main statutes are important under the Seychelles company law which are the Companies Act 1972 and the International Business Companies Act 2016. The latter is especially significant if you are going to start an International Business Company – IBC – which is undoubtedly preferred by international business owners because of its conditions. 

  • Articles of Association: One of the essential legal documents when creating a company is the document that outlines the objectives and the responsibilities of the directors when it was formed. 
  • Common Law Influence: The major sources of the Sychelles’ legal system are English common law and civil law, though the sources of the legal system are also used in regulations and corporate governance. 

Non-compliance with the provisions of these statutes will help you factor in your formation process to fit your company to the region’s legal benchmarks.

Regulatory Compliance And Confidentiality

  • Regulations: You need to ensure that you comply with all the local laws for instance, the anti-money laundering laws or the international tax compliance standards.
  • Restrictions: Seychelles does not put average strict controls within IBCs meaning the operations can be flexible. However, there is a condition that allows the company to adhere to international rules and regulations. 
  • Privacy: While selecting the jurisdiction and designing the company structure, you must remember that Seychelles provides strong confidentiality measures for the owners and shareholders of the companies, however, the compliance requirements must also be taken into account.
  • Confidentiality: According to the IBC Act, the details of the company directors and shareholders are not published making the information quite private. 

Seychelles maintains a very strict law about the confidentiality of the information of any company, however, your company will make sure that all the requirements or regulations that are required by the country will be complied with by your company. Observing these laws protects the image and business on the international platform. 

Incorporation And Registration Process

To incorporate and register a company in Seychelles, you need to follow the outlined steps below. The process is coordinated by the Seychelles Financial Authority (FSA) to be highly efficient for registering your company. 

Choosing A Company Name 

Your first step is to decide on a name for your Seychelles company, which must be unique. The name must not be a name that is already in use in the Seychelles and must be followed by an acceptable word such as ‘Limited’ or ‘Incorporated’ to show limited liability. Professional names, once chosen, will be reserved exclusively for your organization’s use by law.  

Appointing Directors And Shareholders

To incorporate in the Seychelles, at least one director and one shareholder are required. The directors and shareholders can be of any nationality and may even reside in any part of the world. In other words, directors can be appointed without having to own any stock in the company.

Registered Directors: 

  • Minimum required: One
  • Nationality restrictions: None


  • Minimum required: One
  • Corporate shareholders: Allowed

Key Functions Of A Registered Agent 

In Seychelles, a locally resident registered agent is required to be recruited for company formation. The registered agent is required to ensure local laws are being adhered and will correspond with the Seychelles government on your behalf.

Submitting Required Documents

When registering a company in Seychelles, you will be required to complete the registration form and accompanying documents, such as the IDs of directors and shareholders. The following tables illustrate the main documents;

Document TypeDescription
Application FormCompletely filled application form with details of directors and shareholders
Proof of IdentityCopy of passport or other government-issued identification
Proof of AddressRecent utility bill or bank statement

Documents must be in English or, if in some other language, copies of these documents must be notarized in English.

Certificate Of Incorporation

After filing all the mandatory documentation, the authorities of the Seychelles will issue a Certificate of Incorporation. This is official documentation that shows that your company exists and has the legal right to start conducting business in the Seychelles. This document will be supplied together with the company registration number and a copy of the register of directors and shareholders.

Corporate Structure And Management

Before starting a company in Seychelles, it is necessary to know the fundamental principles of the organization. The guidelines involved share capital and ownership plus roles of company secretaries and beneficial owners as well as the registered office setup. 

The Meaning of Share Capital And Ownership

This is the amount that you, as a shareholder, put into the business. This can be cash or assets. The minimum authorized share capital for an International Business Company (IBC) in Seychelles is USD 100; however, there is no maximum limit, and the preferred share capital can be in any currency acceptable.

  • Minimum Issued Capital: The number of shares par value shall be one or nothing.
  • Types of Shares: Some of these include registered shares, shares of no par value, preference shares, redeemable shares, and shares with or without voting rights.

Appointing The Company Secretary And The Beneficial Owners

As a component of corporate management in Seychelles: 

  • Company Secretary: While it is not mandatory, efficient corporate compliance should appoint this role. 
  • Beneficial Owners: Beneficial owners are not visible in public records; however, you have to file these details with the registered agent, who keeps them confidential. 

Directors And Shareholders

  • Minimum Number of Directors: This may be a person, or maybe corporate entities.
  • Minimum Number of Shareholders: One that may be the same entity as the director.

Establishing A Registered Office

Each Seychelles IBC is required to have a registered office located within the country. This office does not necessarily have to be the business address but acts as 

  • A coordination center for government communications.
  • The legal address for registration with legal departments.

Key Points

  • Location: Must be located in the Seychelles Islands.
  • Record Keeping: This is used to store official documents of the company or other important documents.

Financial Obligations And Reporting

Here is a brief overview of the Seychelles’ flexible laws regarding company formation, taxes, accounting and fiscal records, and annual returns.  This helps you run your business in line with domestic laws and regulations, as well as international norms and charters.

Taxes And Tax System

Seychelles operates with a territorial tax system, implying that tax is charged on income-generating factors within the country only. Your International Business Company (IBC) can enjoy the legally enshrined advantage of being exempted from paying corporate income tax on external revenues. There is no tax on any of the company’s income, whether through dividends, capital gains, or any form of withholding taxes for IBCs. It is equally important to know about any change in legislation that might affect your tax liabilities.

Accounting And Financial Records

You need to keep proper accounting records to capture the financial state of the company. The International Business Companies (Amendment) Act, 2021, requires that such records be retained for not less than seven years from the date that the related transaction is closed. This is necessary for the annual audit and to report all revenues traceable to the Seychelles accurately.

Annual Return And Renewal Fee

Among the compliance requirements of your company; you should file an annual return in addition to paying annual renewal fees to retain company status. The annual return should contain a list of the most important company activities and the balance sheet. Filing such returns on time helps the company to avoid penalties as well as to be in good legal standing within the country of the Seychelles and in other countries.

Banking And Financial Services

While incorporating your International Business Company (IBC) in the Seychelles, you will gain experience in banking and financial services, with a special focus on your business. These services give security to your deposits and enable you to handle different types of currency.

Bank Account For Your International Business Company

You will be required to submit due diligence documents such as a copy of your passport, a utility bill as proof of residence, and a reference letter from the bank to open a bank account for your Seychelles IBC. Bank account opening services are fast and on most occasions, do not require a face-to-face meeting. There is a need to choose a financial provider that appreciates the international context of your company and offers: 

  • Multi-currency accounts
  • Internet banking facilities
  • Competitive fees and charges

Remember that each bank has its requirements and time limits, but the account creation process could take several days or several weeks.

Insurance And Other Additional Financial Services

Insurance, as well as other additional financial services, can be used by your Seychelles IBC to mitigate risks and provide support for your business needs. Seychelles’ financial landscape includes

  • This insurance policy must be aligned with the various risks that your company can be exposed to.
  • Wealth management services
  • Some of the best advice can be obtained from professional investment advisors.

To determine what specific financial services will be most relevant in supporting and protecting your Seychelles IBC Company’s fiscal health, it is advisable to consult with a qualified financial advisor.

Business Operations

If you are going to form a business in the Seychelles, knowing how to effectively run your company in the areas of global business, trading, and e-commerce is essential to your business’s success.

Conducting International Business

When you seek to begin an international business and choose the Seychelles as your starting point, then IBC is likely to be your most flexible structure. Your IBC in the Seychelles enjoys no local tax on the income it derives from other countries, hence making it a perfect entity for global operations. However, it is important to note that tax transparency and compliance with international standards are compulsory to maintain credibility and also to validate the legal status of the IBC.

Import And Export Regulations

Seychelles acts as a conducive hub for import and export activities in the middle of the Indian Ocean especially in the fishing and tourism industries. To carry out these trades, you must obtain a business license, including licensing requirements that are designed to safeguard economic and environmental conditions.

With imports, regulations include: 

  • Permits for restricted goods
  • Protecting the safety and health of employees

With exports, it requires: 

  • Compliance with international trade agreements.
  • Accurate recording of inventory, especially for high-value goods like fish 

Online Business And E-Commerce

By operating the online market, your Seychelles-based company can venture into e-commerce to open up a wider market for itself. It is wise to limit the operating liability for personal assets and keep in mind that even though your business is going to operate digitally, it has to familiarize itself with and adhere to the Seychelles laws. 

  • To protect your assets, create a limited liability
  • For operational legality, comply with local e-commerce legislation.

In general, when a company is starting up its e-commerce business in the Seychelles or even Africa, it should be noted that there are several legal aspects to be considered, which include cross-border trade law and cybersecurity measures.

Types Of Companies In The Seychelles

Before going on what you need to know when forming a company in Seychelles, it is important to know about the types of entities and the regulations and benefits of each type of company.

Special License Company

A Special License Company (SLC) in Seychelles is a mix of both an offshore and an onshore company, though it is mainly referred to as an offshore company. It is restricted more than a mere IBC, but it does enjoy certain advantages of the double taxation avoidance treaties. According to the SLC formation requirements, your SLC should have a minimum of two directors, and perform an annual audit; it should also comply with the applicable laws.

Limited Liability Companies

Seychelles is known for its high level of confidentiality in financial structures. The LLC (Limited Liability Company) stands as an attractive company for investments because it offers the characteristics of a partnership with the account of a corporate body. An LLC protects its members from personal liabilities; therefore, the personal assets are separated from the entity’s debts and obligations. 

Partnerships and Trusts

This partnership in the Seychelles is made for anyone who engages more than one party to do business together. Therefore, both partners have a managerial responsibility as well as share errors and losses sustained by the business. Trust is important in such situations where an individual is planning for a specific property that is managed by a trustee. Some benefits include protection of personal property and tax issues.

Partnerships and trusts in the Seychelles run under specific legal structures since they are governed by legislation that is extensively documented. As for partnerships, Seychelles’ law provides general partnerships, limited partnerships, and limited life partnerships. It is very private and governed by the Seychelles Trusts Act making the trusts enjoy a high level of confidentiality.

Additional Considerations For Entrepreneurs

It is important to note that the formation of a company in the Seychelles involves more than meeting the formal requirements on procedures for registration. They include privacy policies, ownership policies that relate to the citizenship of the owners, and policies on the language and currency of the country.

Privacy And Confidentiality Measures

Legal protection of privacy and trade secrets remains strong for your business venture in the Seychelles. There are rules in the country that prohibit the disclosure of information about directors and shareholders. These restrictions might be advantageous to all entrepreneurs. Since Seychelles International Business Companies (IBC) do not have to disclose corporate records to the public, you can keep your corporate structure confidential.

Nationality And Foreign Ownership Restrictions And Limitations 

Currently, there are relatively few restrictions as to the nationality / foreign ownership required to establish an IBC in the Seychelles. Unlike other countries, an international entrepreneur can directly own the local company 100% without local partners. However, the corporation’s location and directors’ nationality are crucial when considering some tax benefits that the company can get.

Language And Currency Advantages 

The recognized languages in the Seychelles include English and French, and this makes communication in business easy, especially if you are familiar with the two languages. In addition, the official currency is the Seychellois rupee (SCR), which is not generally employed for IBC transactions in external markets. This means that business transactions may be made in major currencies, such as USD, which makes transactions smoother.

Post-Incorporation Processes

Once registered, it is advisable to legally conduct your business activities by applying for the appropriate business license as well as following the tax registration procedures to get possible incentives in the country. 

Obtaining A Business License 

Before engaging in any business activity in the Seychelles, you must obtain business permission in this country. It should be noted that the type of license that is needed depends on the type of business that is being carried out. This license can often be applied online through a government website by filling out the form and submitting it to the right department. 

  • Application: Return the application form, which might be different depending on the type of business activity.
  • Review: The authority will consider your application, which may include inspections or additional documents. 
  • Issuance: Once you get the approval, the business license will be issued to you, and you will be required to display it at your business location. 

Value Added Tax (VAT) And Other Taxes Registration 

Value Added Tax (VAT) is a type of consumption tax applied to goods and services in the Seychelles, which includes imports. The Seychellois government sets a threshold value for which your company does not need to register for VAT, but if your taxable turnover exceeds this threshold value, then your company has to register for VAT. Moreover, you should register for the rest of the appropriate taxes to meet the requirements of the local laws. 

  • VAT Registration: If needed, prepare and send the application for VAT registration through the client portal, as well as the appointment service of the relevant authority.
  • Tax Incentives: It is vital to know what incentives and exceptions apply to you in the form of taxes. 
  • Compliance: Inform the tax authorities and keep all necessary records to stay compliant at all times.

Supporting Services And Infrastructure

Seychelles offers support services and a favorable business environment for entrepreneurs. The following is the most suitable framework, leading to easier company formation and an active business environment. 

Seychelles For Your Gateway

When you utilize the Seychelles as a gateway, the advantages include the geographical position as well as the favorable business environment for global business. The Seychelles also has an IBC structure for foreigners, which is very flexible and does not require much public filing. The registration process for the IBC type of business is very simple. Since English is one of the official languages, it simplifies communication and other business procedures. 

  • Confidentiality: There is confidentiality of director and shareholder information. 
  • Communication: English makes it easier to interpret and understand legal documents.  
  • Business Environment: Seychelles appears to boast very efficient and flexible rules for company incorporation of an IBC, which may be useful if you plan on operating internationally. 

Network Of Professional Services 

It is important to keep in mind that the success of your company in the Seychelles relies on a fluent network of professional services. They will help you with the incorporation process and the power of attorney, as well as accompanying provisions depending on the type of company. 

  • Incorporation Services: Consultants are available to offer advice for the whole process of documentation & following laws & regulations. 
  • Support Systems: Different support services starting from accounting to providing legal services to meet your company’s requirements. 

Furthermore, these services are normally accompanied by dedicated client managers or relationship officers who will help you properly set up and manage your business entity.


If you are starting a Seychelles company formation, you are provided with free access to one of the most efficient and private jurisdictions. There is no explanation needed that the activities of an International Business Company (IBC) in Seychelles have certain significant features. 

  • Tax Benefits: Your IBC will be advantageous because it has zero taxation on its profit despite its geographical location. 
  • Privacy: Seychelles has one of the best laws protecting the identity of owners of companies. 

You can see the breakdown of the entities and their key attributes in the table below : 

Entity TypeKey Feature
International Business Company (IBC)Tax-exempt, high privacy
Special License Company (CSL)Allows for specific licenses and operations
Limited PartnershipPass-through taxation, ideal for joint ventures
Public CompanyAbility to issue shares to the public

If you incorporate your business in the Seychelles, you benefit 

  • No Residency Requirements: In this case, there are no restrictions on the location of your company’s operations. 
  • Single Ownership: The option of having only one person to operate and, at the same time, be the director and shareholder of the company. 

When choosing Seychelles company formation, you must be well acquainted with all the current regulations. If you find a consultant such as FastLane Group that specializes in the Seychelles IFC, you will receive a clear picture and professional advice on how to proceed to meet the regulations of that region. Our team of experts can act as a solid foundation for the successful creation of your offshore entity. Contact us for more details!

Frequently Answered Questions

This section provides simple answers to some most frequently asked questions about company formation in Seychelles that contain the basics of formation criteria, advantages, and process demands for future owners/ managers of the business.

To start the incorporation process of a company in the Seychelles, an application form must be filled out. You will then be required to make payment for the services of your choice by either cash, credit card, or any other accepted method of payment. When writing competitive and tender papers, it is helpful to note that you are often appointed a client manager who will help you with the submission of documents required in the process.

Yes, you can open a bank account for your Seychelles company. You may require some due diligence documents, and the process may be slightly different from one bank to another. Depending on the selected bank, you can be asked to attend in person, or the entire process can be done online.

Registering an offshore company in the Seychelles provides numerous advantages concerning taxation, as there is no corporate income tax, capital gains tax, or withholding tax on Internet business companies. Privacy and relatively fewer regulations also add to its advantage when it comes to investment jurisdiction.

The first step in forming the company in the Seychelles requires having the company’s name, the minimum number of directors and shareholders who can be the same person, as well as the submission of the required documentation. Furthermore, a Seychelles company must have a registered agent.

To perform a due diligence company search in Seychelles, you can either use the help of the registered agent or go directly to the Seychelles corporate register if it is open to the public to obtain the number of the company and check if it is in good standing.

Registered agents for Seychelles companies like FastLane offer numerous services, such as helping the company through the formation process, becoming the company’s official contact point, offering legal and compliance services, and occasionally offering nominee services for a more discreet business entity.