Seychelles Company Setup

About Seychelles

Seychelles is in the Indian Ocean 1000 miles east of mainland Africa and to the northeast of Madagascar. The legal system in Seychelles is based on English Common Law, the civil law and its Constitution. Civil law is based on the French Napoleonic code and referred to as the Civil Code of Seychelles. Company law is derived from English Common Law. 

Since the introduction of the Seychelles International Business Companies Act in 1994, over a quarter million Seychelles companies have been established. The number of new registrations per month is more than 1000. Since 2015, Seychelles has been classified as a “high income” state, according to the World Bank classification. The country is often ranked as one of the best places to do business in Africa.

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The Basics

An IBC (International Business Company) is the most popular type of offshore company offered by Seychelles. A Seychelles Offshore Company (IBC) is a tax-free company designed for all forms of international business, with no reporting requirements.

TYPES OF LICENSES:

A Seychelles company can operate under these types of licenses:

Professional License

Encompassing professional services;

Rules on Company Names

The company name must end with a word, phrase or abbreviation that indicates limited liability such as Corporation (Corp), Limited (LTD), Limita (LTDA), Sociedad Limitada (SL). etc

The following names or their derivatives: assurance, bank, building society, Chamber of Commerce, chartered, co-operative, government, imperial, insurance, municipal, royal, state or trust are not permitted.

Registration Through a Local Agent

All company registrations and subsequent renewals must be processed by a registered agent licensed by the Seychelles International Business Authority (SIBA). A local agent can also offer you a registered office located in Seychelles for regulatory purposes.

Shareholders, Directors and Officers

A minimum of one director and one shareholder is required, however, they can be corporate bodies. Nominee Director and Shareholders are also permitted in a Seychelles company registration.

Company Authorized Capital

The standard currency for a Seychelles company formation is USD with an authorised capital of $100,000. The minimum paid up share is $1.

Public Registry

Currently no disclosure of shareholders/directors on the public register or to any authority are required. We cannot guarantee that this will be the case in the future.

Taxes and Annual Fees

Seychelles IBCs do not pay taxes in the Seychelles. There are also no other taxes levied when shares in a Seychelles IBC are transferred. However, business activities carried out in the Seychelles itself are subject to tax.

Government fees must be paid annually, although these remain some of the lowest in the world when it comes to IBCs.

Documents required to Start a Company in Seychelles

  • Notarised copy of the passport of the company directors, officers, and shareholders.
  • An original proof of residence showing the name and address of the company directors, officers, and shareholders. This document must be current and have been issued in the last 90 days.
  • An original letter of introduction is required. This letter must be from a bank on the bank letterhead.
  • If the shareholder or director is another company, then notarised / attested versions of those documents will be required.

Timeframe for Seychelles Company License

Incorporation of Seychelle IBC companies takes around 1 to 2 days. The time required for reception of the registration documents from the Seychelle Register of Companies and legalization of the documents with apostille is one week.

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