Seychelles company formation.

A practical base for international trade.

Seychelles combines a modern companies statute with a territorial tax system, making it a popular choice for entrepreneurs who need a straightforward international company.

International business companies, or IBCs, are registered with the Financial Services Authority of Seychelles. Every IBC must retain a registered agent licensed in Seychelles, and its registered office is the agent’s address. The jurisdiction has strengthened its framework considerably in recent years, introducing economic substance tests and annual tax filings for IBCs.

AT Express is headquartered in Cyprus, with offices in the United Kingdom, Hong Kong, China, Vietnam and Singapore. We coordinate Seychelles formations with licensed registered agents and advise clients on whether Seychelles, another offshore jurisdiction or an onshore company fits their activity.

The international business company.

The IBC is a company limited by shares, used mainly for international trading, consultancy, investment holding and the ownership of intellectual property or assets outside Seychelles. Seychelles also offers limited partnerships, foundations and trusts for estate and asset-holding purposes, which require tailored advice.

What sets Seychelles apart.

• One director and one shareholder, either of whom may be an individual or a company.
• Registers of members and directors are kept at the registered office in Seychelles.
• No local director is required.
• A territorial tax system, under which tax applies mainly to income sourced in Seychelles.
• Competitive set-up and annual costs compared with many other international centres.

Territorial tax and substance.

The Seychelles Revenue Commission describes a territorial system. Since 16 September 2021, covered companies, including IBCs, receiving foreign-sourced passive income, such as dividends, interest or royalties, must meet an economic substance test in Seychelles for that income to remain exempt. Income that fails the test, and income sourced in Seychelles, is subject to business tax, which for companies is charged at 15% on the first one million rupees of taxable income and 25% on the remainder.

IBCs register with the Revenue Commission and file an annual tax return, due by 31 March following the year of income, and must keep their records for seven years. Owners remain taxable where they live.

A balanced view.

What you will need.

• A licensed Seychelles registered agent, whose address serves as the registered office.
• At least one director and one shareholder.
• A memorandum and articles of association.
• Due diligence documents for all directors, shareholders and beneficial owners, typically a certified passport, proof of address and evidence of the source of funds.
• A description of the business and the countries in which it will operate.

From first call to certificate.

The overall timetable depends on the registered agent and on how quickly due diligence is completed. We confirm a realistic timetable in our written proposal.

Keeping the company in good standing.

• Annual licence fee to the Financial Services Authority, paid through the registered agent.
• Annual tax return to the Seychelles Revenue Commission by 31 March.
• Accounting records kept for at least seven years, with financial information made available to the registered agent as required.
• Registers of members, directors and beneficial owners maintained at the registered office.
• Economic substance for foreign-sourced passive income, where relevant.

Banking for a Seychelles company.

Seychelles IBCs typically bank in international financial centres or with licensed electronic money institutions. Banks review each application on its merits, and some decline companies from certain jurisdictions as a matter of policy, so approval can never be assured. Preparation matters. See international bank account opening and our guide to banking for an offshore company.

Frequently asked questions.

Official sources.

1. Seychelles Revenue Commission, The Seychelles tax system — territorial basis, economic substance test and business tax rates.
2. Council of the European Union, EU list of non-cooperative jurisdictions for tax purposes.
3. OECD, International standards on tax transparency, including the Common Reporting Standard.
4. Internal Revenue Service, Foreign Account Tax Compliance Act (FATCA).

Hero image: “Anse Source d’Argent 2-La Digue” by Tobias Alt, Tobi 87, licensed under CC BY-SA 4.0.