Seychelles International Business Company (IBC)

Seychelles International Business Company (IBC), is a flexible entity that enables corporations and individuals conduct international business in an effective manner. IBC can be widely used for International Trade, as a Holding Company, Investment Company etc.

IBC is a non-resident company and can conduct business in any part of the world except Seychelles. It does not attract any kind of taxes on its total worldwide income and has benefits like fast turn-around time for set up.

Key Features Seychelles IBC


General
Legal System Common Law
Disclosure of Beneficial Owner to Registrar No
Change in Domicile Permitted
Non-English Language Names Allowed Yes
Tax on Worldwide Profits None
Double Taxation treaty access No
Trade Restriction Cannot trade in Seychelles
Cannot undertake banking, insurance, re-insurance or other activity restricted by authority
Corporate Requirements
Minimum Shareholders One
Minimum Directors One
Types of Shares allowed Registered shares
Corporate Directors Allowed Yes
Company Secretary Required No
Standard Authorized Share Capital USD 100,000
Minimum Paid Up Capital $1
Corporate Seal No
Local Requirements
Registered Office/Agent Yes
Local Secretary No
Local Directors No
Local Meetings No
Annual Requirements
Audited Accounts No
Annual Filing of Returns No
Annual Meeting No
Meeting Location Ifheld, can be from anywhere in the world
Incorporation Time 1-2 business days

Seychelles IBC Advantages

  • IBC can be incorporated within 1-2 days and start the business. The flexible structure allows the corporation to conduct international business in an efficient manner
  • Protection against confiscation or seizure
  • Shares may be issued for money or for other valuable consideration and can be issued in any currency
  • Directors and shareholders may be either a natural person or a corporate entity
  • IBC’s are tax exempt companies therefore increasing the profits which can be used to further business expansions

Seychelles  International Business Company- Our Advantage

Seychelles IBC is one of the most popular offerings from Abacus. We have years of experience in helping our clients understand the product and use it to benefit them in the short and the long term. Especially when your business or personal interests are being overshadowed with fiscal or regulatory complexities, a zero tax IBC is ideal. IBC also works out to be lot cheaper and simpler if you are an international business traveller with short-term projects.

Contact us to know under which conditions you could opt for an IBC.

Case Studies

Creating a Holding Company with diversified business interests

Mr. A has a portfolio of assets ; a company , some real estate, fixed deposits and a ship. He wants to transfer his assets to another company

Challenge: At an age when luxuries become necessities, sticking to a single business may prove to be a bad strategy. At the same time, entering a new business is risky because of varied reasons ranging from lack of experience to different dynamics of the new business. It is not prudent then, to have multiple businesses in multiple countries under the same book.

Abacus Seychelles Solution: An effective solution could be to create separate IBCs for each business, thus separating one from the losses of another and each can have a life of its own. A Seychelles IBC attracts no tax and hence all the savings of each IBC can be ploughed back into the business to grow it further.

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Benefits:

  • Assets are protected
  • No Tax liability in Seychelles
  • Funds collected can be reinvested and are subjected to exchange restrictions

FAQs

Can an IBC invest in Seychelles?

Yes, an IBC may hold shares, debt obligations or other securities in a domestic company in Seychelles. However if the domestic company owns land in Seychelles the IBC will have to obtain government sanction (approval) and pay a fee before it can invest in the domestic company.

An IBC may buy bonds or other securities issued by the Government of Seychelles. Also it may own or manage a vessel registered in the Seychelles under the Merchant Shipping Act, 1992

Can an IBC have its own offices in Seychelles?

Yes an IBC can have its own offices in Seychelles. It can lease its own offices but only for making or maintaining professional contact with counsel and attorneys, accountants, bookkeepers, trust companies, management companies, investment advisers or other similar persons carrying on business within Seychelles, or to prepare or maintain books and records of the company within Seychelles.

Must an IBC have an office in Seychelles?

No in fact an IBC can only lease its own offices in Seychelles for making or maintaining professional contact with counsel and attorneys, accountants, bookkeepers, trust companies, management companies, investment advisers or other similar persons carrying on business within Seychelles, or to prepare or maintain books and records of the company within Seychelles.

An IBC is expected to operate outside of Seychelles.

Does an IBC need to pay taxes?

No. An IBC is not subject to tax in Seychelles so there are NO taxes for an IBC to pay in Seychelles. Section 109 of the Seychelles International Business Companies Act (“Exemptions”) states that “A company incorporated under this Act or a shareholder thereof shall not be subject to any tax or duty on income or profits accruing to or deriving from such company or in connection with any transaction to which that company or shareholder, as the case may be, is a party.”

Depending on the specific activities of the IBC it may have to pay taxes in other countries. We do recommend that you consult a tax professional in the countries where the IBC will operate.

Does an IBC need to file accounts?

No there is no requirement to prepare or file your IBC’s accounts in Seychelles.

What information and documents will you need from us to register the IBC?

Basically we will need a name for your IBC, an amount and currency for the authorized share capital, the names and addresses of the directors (unless you want us to suggest some professional directors), the names, addresses, and number of shares for each shareholder, the specific proposed activities of the IBC (even if the IBC will have the most general objects in its Memorandum), the countries where the IBC will have some activity, and the source of funds to form the IBC and to make it work. We may also ask why you chose a Seychelles IBC for your venture.

Depending on the specific activities and other special requirements we may ask for more information to be sure that your proposed activities are legal in Seychelles and for us to know whether we will be able to serve you well.

How quickly can we have an IBC?

We can usually register a new IBC within 24 hours,

However please do note that there can be slow-downs at the Registry which would be beyond our control but luckily those are rare. Also if you require authentication of documents (notarization, apostille etc) it will take a little longer to have the documents back.

On receiving the certificate of incorporation and the registered Memorandum and Articles, we can scan and email high quality PDF documents back to you. Courier to most places thereafter takes 3 or 4 days.

Can an IBC have only 1 director and 1 shareholder?

Yes it can. And the director and shareholder can be the same person or corporate entity. You can be the sole director and the sole shareholder of your IBC.

Is there a minimum share capital requirement?

There is no minimum share capital requirement however in practice we set the minimum as 1 unit of any international currency. The typical minimum used by our clients is United States Dollar One and other commonly authorized and issued amounts are 5000 and 100,000 United States Dollars.

Note that any currency may denominate the share capital but we recommend that whatever currency is used, the minimum be at least the equivalent of one United States Dollar.

What kinds of shares are allowed?

Shares can be issued in registered form . In registered form, the share register must record all particulars of a shareholder (the name, the address).

Another category of shares, shares can be issued as share with a par value and/or shares without a par value. With par value shares, shares cannot be issued for less than par value. With no par value shares, the value is at the discretion of the directors.

Shares are normally issued as ordinary shares where each share has one vote and receives dividends. Other classes of shares can also be issued with different rights.

The Seychelles IBC can also issue shares limited by guarantee so that the shareholder does not immediately have to pay up for shares.

What are your annual renewal fees?

Please email, skype or call us to get our fees. Every agent charges differently but our prices are competitive.

What will happen if annual renewal fees are not paid?

If our annual renewal fees are not paid we will not be able to pay the annual government fees. If the annual government fees are not paid the IBC will not remain in good standing and will eventually be struck off the register, and later it will be deemed dissolved. Once struck off the assets held by the IBC may be deemed to be vested in the state i.e. of Seychelles. A more immediate consequence is that you would not able to get a certificate of good standing to give to your bankers and other business partners.

In Seychelles annual fees are due on the anniversary of incorporation of an IBC. If payment is made late, penalties will come into effect..

Can we get an online gaming or online gambling license for my IBC?

While Seychelles has legislation to license and regulate online gaming (and online gambling) this business is not allowed at present. This is because the Seychelles regulators do not have the expertise and capability to regulate such businesses.

You are not even allowed to get a license elsewhere for your Seychelles IBC because online gaming and gambling are licensable activities in Seychelles and an IBC is not permitted to operate such businesses without a Seychelles license