International Business Companies (IBCs)
The Seychelles IBC is now one of the most popular tax-exempt offshore company entities in the world (based on comparative annual incorporation numbers). Seychelles IBCs are incorporated under the International Business Companies Act 1994.Attractive Seychelles IBC benefits include:
- Value for money – low annual Government licence fee of US$ 100, irrespective of the amount of the authorised share capital of the company
- Fast incorporations and name approvals – same day incorporations
- Nil Seychelles taxation – on foreign income and also exempt from Seychelles withholding tax and stamp duty
- Privacy and asset protection – including no requirement to file details of shareholders, beneficial owners or directors at any Seychelles Government Registry
- Ease of administration – no requirement to file financial accounts or annual company return in Seychelles
- Registered or Bearer shares permitted
- Acceptability to international banks – Seychelles is not on the OECD or FATF blacklists
- Seychelles is a stable and independent Country – not being a dependent overseas territory of a European state, Seychelles is not subject to ever-growing EU Directives.
- Minimum number of directors: 1
- Corporate directors permissible: Yes
- Seychelles director requirement: No
- Public filing of director details: No
- Public access to director details: No
- Minimum number of shareholders: 1
- Corporate shareholders permissible: yes
- Seychelles shareholder requirement: No
- Public filing of shareholder details: No
- Public access to shareholder details: No
- Requirement to file annual Accounts: no
- Audit requirement: no
- Publicly accessible Accounts: no
- Requirement to file annual company return: no
- An IBC is required to keep such accounts and records as the directors consider necessary to reflect the financial position of the company.
- An IBC is required by law to have a Registered Agent in Seychelles (which must hold a current licence to provide international corporate services from the Seychelles International Business Authority). All documents relating to the IBC must be filed with the Registry by its Registered Agent.
- An IBC is required by law to have a Registered Office in Seychelles
- Appointment of a Company Secretary is optional only
- An IBC cannot carry on business in Seychelles (limited statutory exceptions include maintaining records and a bank account in Seychelles, holding company meetings, and engaging local advisors, etc). An IBC is prohibited from carrying on the business of banking, insurance or reinsurance, and cannot provide registered office facilities in Seychelles for other companies. An IBC cannot own Seychelles real estate.
