Seychelles Company Formation Frequently asked questions (FAQs)

International Business Companies are the companies incorporated under International Companies Act 2016 (Seychelles). The type of companies coulbe Private Limited by Shares (Pte Ltd) or Limited Liability Company (LLC).

Accordingly, setting up an entity in Seychelles is a simple and highly regimented process under the Seychelles International Business Companies Act. Seychelles is attractive in terms of business setup since its nature of regulatory requirements and compliance procedures is straightforward. Here's a broad overview of how to set up a new company in Seychelles:.

Steps to Set Up a New Company in Seychelles

1. Company Name: The very first prerequisite is to select a unique name for the proposed company. The Seychelles Registrar of Companies requires that names not be identical or too similar to existing ones. It makes sense to check the availability of the name at the very outset to avoid any delay in incorporation.
2. Appoint Directors and Shareholders: Any Seychelles company must appoint at least one director and one shareholder. They can be individuals or corporate entities, and no residency requirement applies for them, therefore allowing flexibility in the structure of the company.
3. Filing of the Documents to be Obtained: The documents needed for incorporation shall be filed. A Memorandum and Articles of Association showing the company's activities and its rules and regulations are contained therein. All the necessary documents shall be prepared and filed with the Seychelles Registrar of Companies for approval.
4. Registration of Local Address: By law, it is mandatory for a company in Seychelles to have a registered local address, which would serve as an address for receiving all legal and official correspondences. This address should be available as long as the company exists.
5. Annual Compliance Obligations: Seychelles companies are obliged to fulfill all the obligations that arise annually once the companies are registered. Such includes filing an annual return and also obtaining proper records for the company to meet the requirements of the laws and regulations in that country.

Summary

To set up a Seychelles incorporation, there needs to be a name chosen for the company, followed by the appointment of at least one director and shareholder. Documents of necessity must then be filed, and there are various local requirements that need to be adhered to. It will be much easier and ensure that everything is done with the help of professional legal and company incorporation services, those well-versed in Seychelles laws.

A good business to start in Seychelles focuses on how to tap into the country's thriving tourism business, an emerging digital economy, and an enabling business environment. Seychelles is a land of beautiful islands and luxury resorts, thereby offering a number of ventures for entrepreneurs to engage in. Some of these ventures are:

• Eco-tourism activities

  Seychelles eco-tourism is one of the excellent businesses to start in Seychelles with a heavy emphasis on environmental sustainability. This could range from guided nature tours, diving excursions to eco-lodges explaining natural beauty about the island with minimal environmental damage. More tourists are increasingly seeking green travel; thus, an eco-tourism enterprise would therefore guarantee high demand and promote eco-friendly practice.

• Boutique Hotels or Guesthouses

  Seychelles attracts both high and low-budget travelers. Apart from five-star resorts, developing boutique hotels or low-budget guesthouses is an option. Distinctive, personalized experiences can attract travelers in pursuit of authentic stays that will contribute to improving the local economy and accommodate a range of budgets.

• Digital Marketing Services for Tourism and Hospitality

  With more and more local businesses looking to tap into the pool of global customers, a good business in the tourism and travel niche that can be done is offering tourism and hospitality digital marketing services. Social media management, creating good content, and SEO services will enable local hotels, tour companies, and restaurants to increase visibility for international tourists. This ideal for entrepreneurs with experience in digital marketing.

• Fishing Charters and Water Sports Rentals

  Seychelles is indeed a haven for water sports, and either fishing charters or the renting of water sports equipment are in demand at any time. It could be fishing trips, snorkeling trips, jet ski-outs for both tourists and locals, which add value to their island experience.

Starting a business in Seychelles, either within the tourism industry, which is booming, or the growing digital sector, is rewarding. Emphasizing sustainable and customer-driven experiences helps entrepreneurs establish a good business to start in Seychelles while further developing the island's economy.

The incorporation process takes only 1-2 days since we receive all required documents and payment from your side.

• Scan in Color of Passport
• Scan of Address Proof in English (Utility Bill, Bank Statement,...)

See more: How to start a business in Seychelles

The fee for the registration of an IBC having an authorized share capital up to US$1,000,000 is US$ 742 our professional service fee and Government fee plus US$ 500. Total US$ 1242.

See more:

• Seychelles Incorporation Fees
• Seychelles business register

Seychelles International Business Company (Seychelles Offshore - IBC) has totally exemption on taxes, according to the International Business Companies Act, 1994. No filing of accounts or submitting annual returns is required after the offshore has been incorporated. Seychelles is not a party in any double taxation treaty, which provides enhanced protection against fiscal inquiries. The law protects the confidentiality of the Shareholder, Director and the offshore company.

How to start a business in Seychelles?

Seychelles Offshore Company Formation, initially Our Relationship Managers team will ask you have to provide the detailed information of the Shareholder/Director's names and information. You can select level of services you need, normal with 2 working days or a working day in urgent case. Furthermore, give the proposal company names so that we can check the eligibility of company name in the Registrar of International Business Companies system.

• See more: Seychelles company register

You settle the payment for Our Service fee and official Seychelles Government Fee required. We accept payment by Credit/Debit Card     , Paypal  or Wire Transfer to our HSBC bank account  .

• See more: Payment Guidelines

After collecting full information from you, Offshore Company Corp will send you a digital version (Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles etc.) via email. Full Seychelles Offshore Company kit will courier to your resident address by express (TNT, DHL or UPS etc.).

You can open bank account for your company in European, Hong Kong, Singapore or other jurisdictions supported offshore bank accounts! You are freedom international money transfer under your Seychelles Offshore Company. 

Your Seychelles Company formation completed, ready to do international business!

Read more: 

• Seychelles offshore bank account
• Seychelles offshore company benefits

Are there any other taxes payable?

No. Bearer Shares are not allowed.. Corporate directors are allowed.

Yes.

No accounts need to be filed but accounting records must be maintained.

The information of Beneficial Owner of the IBC must be disclosed to The Registrar but it definitely not be published. There is no person can find your confidential information.

Yes. Absolutely!

Nowadays in the globalized world the exact location of a bank is less important than the choice of the bank itself. When choosing a bank, a number of questions should be considered.

• What are the services available at the particular bank? 
• What are the costs? 
• Will your company be able to maintain the minimum required balance or satisfy any other financial requirements for the account? 
• What are the client acceptance prerequisites at the bank? 
• Are there any requirements of the bank that may prevent your company from becoming its client? 
• Is the bank in Your time zone or the time zone of your clients to be able to contact it at the time you need? 
• Do they speak Your language? 
• What is the quality of work ethics in the particular bank or in the jurisdiction of the bank in general as this may result in good service, quick and accurate work or, on the contrary, delays, mistakes and poor attitude. 

All in all, there is no single answer as to the most appropriate location of an offshore bank account – it is always a compromise between your financial abilities, convenience and reliability.

Read more:

• Seychelles bank account
• Seychelles company registration
• How to start a business in Seychelles

The time actually starts ticking after the completed application file, which includes quite a lot of documents and information from the beneficial owner, has reached the bank. We can not really influence the time taken by the client to fill the forms and to obtain the few due diligence documents.

From the moment the file is with the bank, it can be from a couple of days to a couple of months until the bank comes up with a letter of acceptance – or, sometimes, rejection. In some cases the bankers would ask for some clarifications or additional documents from the new client. Then, obviously, the timer would stop until such information or document is furnished.

All in all, it is practically impossible to determine an exact timeframe. We would certainly share our previous experience with any particular bank, and sometimes this information gives something to go by

Read more:

• Company registration Seychelles
• Seychelles bank account

The relationship between the beneficial owner and the professional director is regulated by the standard Terms & Conditions of business and, if necessary, by a more specific client-manager agreement.

Such agreement could determine, in particular the method of passing any instructions and information from the client to the manager and the fact that the account signatory shall never act on his own accord without express consent by the beneficial owner.

As all the instructions to the Director come exclusively from you and the Director will stay passive in the absence of such instructions, you are actually the exclusive person controlling the account.

Read more:

• Seychelles company register
• Seychelles nominee shareholder

An example of international business is when a company conducts its commercial activities across national borders, involving the exchange of goods, services, or investments with entities in other countries. Here's an example:

Company X, headquartered in the United States, manufactures high-end smartphones and wants to expand its market globally. To do so, it engages in international business activities, such as:

1. Exporting: Company X ships its smartphones to retail partners in various countries, allowing customers around the world to purchase its products.
2. Importing: Company X may also source components or materials from different countries to manufacture its smartphones, taking advantage of cost-effective suppliers or specialized parts.
3. Foreign Direct Investment (FDI): To establish a more significant presence in international markets, Company X might set up manufacturing facilities or subsidiary companies in other countries. This can involve substantial capital investments and long-term commitments.
4. Licensing and Franchising: Company X may license its technology or brand to foreign companies or enter into franchising agreements, allowing local businesses in other countries to sell its products or services.
5. Joint Ventures: Company X might form partnerships with foreign firms to create a new entity, jointly investing in a business venture that benefits from both companies' expertise and resources.
6. International Marketing and Advertising: Company X tailors its marketing and advertising campaigns to suit the cultural preferences and language of specific international markets.
7. Currency Exchange and Risk Management: To mitigate currency exchange rate risks, Company X may engage in financial hedging strategies or set pricing policies based on local currencies.

In this example, Company X's activities in multiple countries illustrate international business operations, as they involve various aspects such as trade, investment, and adaptation to different markets, regulatory environments, and consumer behaviors.