The most popular type of offshore company in Seychelles is the International Business Company (IBC). The flexibility of the legislation allows an IBC incorporated in the Seychelles to operate with the minimum of formalities. It provides for a minimum of disclosure, meetings need not take place in Seychelles and details of shareholders and directors do not appear on any public record.
Furthermore, there are no exchange controls on IBCs and a Seychelles IBC is exempt from all forms of taxation. MITCO Ltd in the Seychelles may assist you in setting up a Seychelles IBC.
There is a wide range of jurisdictions which offer the benefits of using offshore entities which could provide them with tax planning and asset protection shelter for their business, but Seychelles is today one of the most competitive and fasting developing offshore jurisdictions in the world. The Seychelles IBC has emerged as a good alternative to International Business Companies established in popular jurisdictions like the British Virgin Islands. Seychelles offshore corporate law is hybrid, based on English Common Law and French Civil Law. Most offshore jurisdictions have Common Law, eg Anguilla, Barbados, Belize, British Virgin Islands, Brunei, Cyprus, Dominica, Gibraltar, Guernsey, Hong Kong, Ireland, Isle of Man, Jersey, Labuan, The Marshall Islands, Nevis, Singapore, St Vincent.
Some of the main features of an IBC are summarised below:
A Seychelles IBC is exempt from all forms of taxation.
There are no exchange controls on IBCs.
There is no minimum share capital required and any currency may denominate the share capital.
Directors and Shareholders
One Director and one shareholder allowed and body corporate can act as Director or shareholder.
The directors may be elected at the first company board meeting.
Classes of shares
Par value, no par value shares and bearer shares are permissible. The details of bearer must be entered into the share register.
The flexibility of the legislation allows an IBC incorporated in the Seychelles to operate with the minimum of formalities. It provides for a minimum of disclosure, meetings need not take place on the Island and details of shareholders and directors do not appear on any public record. However, in order to enhance privacy, you may use the nominee director and shareholder services.
Books and records must be kept for all companies, but these do not have to be filed at the Registrar’s office.
There is no requirement to have a company secretary.
Registered Office & Registered Agent
Registration of an IBC is done through a locally registered agent.
An IBC should at all times have its Registered Office and its Registered Agent in the Seychelles.
Confidentiality of an IBC is guaranteed by law in the Seychelles.
There is no requirement to disclose the identity of the shareholders of an IBC without a court order.
Investment in Seychelles
An IBC may hold shares, debt obligations or other securities in a domestic company in Seychelles.
An IBC may also own or manage a vessel registered in the Seychelles
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