In Seychelles all IBCs are exempted from tax, duty on income or profits, shareholders are also not subjected to tax on income derived from the IBCs in pursuant with the Seychelles IBC Act 2016.
In addition Seychelles IBC is exempted from any stamp duties on all transactions relating to its business. These include:
The only restriction is that the IBC should not undertake business activities within the Seychelles Territory, but it may enter into business with any other Seychelles IBC. The law makes provision for all exemptions of the Seychelles IBC to remain in force for a period of twenty years from the date of Incorporation of the IBC. Within the legal definitions of the IBC Act 2016, an IBC is a company that does not:
However, it is permissible within the Act for an IBC to:
Details of the beneficiary owners; directors and share holders are NOT made public. Documents held on public records of the Seychelles IBC are only the Memorandum and Article of Association, Certificate of Incorporation and Register of Directors.
Seychelles remains one of the fastest IBC registries where new incorporation is done within 24 hours. A Seychelles IBC attracts a government fee of US$ 100 upon registration and per annum thereafter. This fee applies to all IBC regardless of its authorised share capital. This implies that any share capital required, you will pay government fee of US$100 only. It is not a requirement to have a minimum paid capital for the business to start operations. Any amount of authorized capital can be stated in the IBC formation documents.
It is not a requirement for a Seychelles IBC to submit any financial accounts. The owners are free to prepare their accounts in any manner that would enable them to establish the financial position of the IBC with reasonable accuracy. These accounts have to be kept for 7 years.
A minimum of one shareholder, one director both of whom can be the same person is required for a Seychelles IBC. There is no need for local directors and local shareholders. It is also permissible for any corporate bodies or foreign individuals to be shareholders or directors of a Seychelles IBC. It is not a requirement for shareholders or directors to hold regular annual meeting and such meeting need not be held in Seychelles. Meeting can be held by telephone or other electronic means. Directors and shareholders have the option to vote by proxy should they chose to do so.
A Seychelles IBC may issue registered shares only.
The "restricted names" for a Seychelles IBC are those names that include the word "Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Trust, Foundation" or a word (s) conveying similar meaning, or any other word that, in the opinion of the Registrar, suggest or is interpreted to lead to the patronage of or any connection with Seychelles, or the Government of Seychelles, or with any other country or the Government of that country.
The Registrar may also refuse registration of a particular company name, if it is of the opinion that; such name is indecent, offensive, or otherwise objectionable or misleading.
The name of a Limited Company shall end with a word or abbreviation denoting a corporate body or limited liability. The most popular name endings include of words like "Limited, Corporation, Incorporated"; the words "Societe Anonyme, sociedad Animina" the abbreviation "Ltd, Corp, Inc, GmbH, AG, S.A." or several other word or words or abbreviation thereof.