Seychelles is a 115-island country located in the Indian Ocean. The capital, Victoria, lies 932 miles east of mainland Southeast Africa.
A lengthy struggle between France and Great Britain for the islands ended in 1814, when they were ceded to the latter. Independence from the United Kingdom came in 1976 and the socialist rule was brought to a close with a new constitution and free elections in 1993.
Seychelles today is a well-regulated jurisdiction, leader in incorporation of straightforward offshore companies, competing with Belize on price and speed.
- Seychelles International Business Companies have no tax liabilities.
- There is no minimum share capital requirement.
- No nationality restrictions on directors or shareholders and 100% foreign ownership is permitted.
- Only one director and one shareholder is required and these can be the same person.
- Minimal reporting requirements. No audit or tax returns are required.
- Cost effective ongoing maintenance.
- No requirement for a company Secretary.
- No public register of shareholders or directors.
- No requirement for annual meeting to be held in the Seychelles.
- There are no foreign exchange controls and funds can be freely transferred in an out of the country.
Seychelles IBC, an International Business Company, is the most popular and versatile type of offshore corporation available in Seychelles. Similar to other classic offshore companies, a Seychelles IBC is designed to engage in international business. Being an IBC, it is subject to minimum red-tape. While being obliged to keep internal records and registries in good order, a Seychelles IBC does not have to submit any financial reports to public file. There is neither a mandatory audit requirement.
The formation, tax benefits and general structure of a Seychelles IBC is regulated by the Seychelles International Business Companies Act 1994.