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    Information Sheet: Seychelles Companies (Ibcs)

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    kalinovskaya
    An International Business Company (IBC) incorporated in Seychelles can be set up within 24 hours. IBCs have no residency requirements for shareholders or directors. Directors have full powers to manage the company and their meetings may be held electronically. IBCs must maintain accounting records but are not required to file accounts, have an audit, or maintain a physical presence in Seychelles. The minimum annual costs include a US$100 licence fee and 7.5% government tax.

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    Information Sheet: Seychelles Companies (Ibcs)

    Uploaded by

    kalinovskaya
    25 views2 pages
    An International Business Company (IBC) incorporated in Seychelles can be set up within 24 hours. IBCs have no residency requirements for shareholders or directors. Directors have full powers to manage the company and their meetings may be held electronically. IBCs must maintain accounting records but are not required to file accounts, have an audit, or maintain a physical presence in Seychelles. The minimum annual costs include a US$100 licence fee and 7.5% government tax.

    Original Description:

    Corporate law short guide.

    Original Title

    Seychelles Companies information

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    An International Business Company (IBC) incorporated in Seychelles can be set up within 24 hours. IBCs have no residency requirements for shareholders or directors. Directors have full powers to manage the company and their meetings may be held electronically. IBCs must maintain accounting records but are not required to file accounts, have an audit, or maintain a physical presence in Seychelles. The minimum annual costs include a US$100 licence fee and 7.5% government tax.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    25 views2 pages

    Information Sheet: Seychelles Companies (Ibcs)

    Uploaded by

    kalinovskaya
    An International Business Company (IBC) incorporated in Seychelles can be set up within 24 hours. IBCs have no residency requirements for shareholders or directors. Directors have full powers to manage the company and their meetings may be held electronically. IBCs must maintain accounting records but are not required to file accounts, have an audit, or maintain a physical presence in Seychelles. The minimum annual costs include a US$100 licence fee and 7.5% government tax.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    Seychelles Companies (IBCs)

    Information Sheet

    Statutory description of private limited company Residency requirement on shareholders or shareholders


    International Business Company (IBC) meetings
    None.
    Governing corporate legislation
    International Business Companies Act 1994, as amended Minimum and maximum number of directors
    Sole directors are permissible. There is no statutory
    Time-scale for incorporation maximum, although the articles may impose a limit.
    Companies may be incorporated within 24 hours, following
    completion of due diligence checking. There is a time Are corporate directors permitted?
    difference of +4 hours to GMT. Yes.

    Availability of ready-made companies Nationality and residency requirements of directors


    Available. None.

    The regulations governing availability of names Nature of the powers of directors


    It is mandatory to have a suffix which denotes limited The directors have all the powers of the company that are
    liability e.g. “Limited”, “Corporation”, “Incorporated”, not reserved to the members under the Act or in the
    “Société Anonyme”, “Berhad”, “Namloze Vennootschap” and memorandum and articles.
    their abbreviations. A full list of permitted suffixes is
    available on request. If the name is not in English or French Directors’ meetings
    the application for name approval must be accompanied Directors’ meetings can take place in any location and may
    by an approved translation and transliteration in English or be held electronically.
    French. It is prohibited to use a name already in use or any
    names deemed by the Registrar to be indecent, offensive Information published relating to directors
    or misleading. Words such as “Bank”, “Building Society”, There is no public register of directors.
    “Trust”, “Cooperative”, “Insurance” or “Foundation” are also
    prohibited. Country names are permitted, provided accom- Annual Declarations
    panied by confirmation that the company has no links with All IBCs are required to prepare and submit to their
    Government of that specific country. Registered Agent an Annual Declaration stating that the
    company is keeping accounting records in accordance
    Minimum and maximum number of shareholders with the Act and that such records can be made available
    Sole shareholders are permitted. There is no maximum through its registered agent, and that the share register
    number of shareholders provided by the Act. located at the registered office is complete and updated.

    Standard authorised capital Deadline for the IBC to submit this declaration to the
    Companies are normally incorporated with a share capital of Registered Agent is 31 December of each year.
    US$100,000.
    Must accounts be prepared by the directors?
    Statutory minimum paid-up capital requirements In order to comply with section 65(1) of the International
    None. However, all issued shares shall be paid for in money Business Companies Act, 1994 (as amended), the company
    or other valuable consideration. must keep or cause to be kept proper accounting records:

    Denomination of share capital (i) that are sufficient to show and correctly explain the
    Share capital may be denominated in any recognised company’s transactions;
    currency.

    www.jordanstrustcompany.com
    (ii) to enable the financial position of the company to be Annual licence fee
    determined with reasonable accuracy at any time; and For all companies irrespective of the share capital US$100
    (iii) to enable for accounts of the company to be prepared Annual Licence fee is payable, plus Government tax of 7.5%.

    In addition, the directors are required to advise the Payable by the anniversary of the company’s registration.
    Registered Agent of the location of the company accounting
    records

    Must such accounts be filed with the financial authorities?


    No.

    Must such accounts be audited, and if so by whom?


    There is no compulsory audit requirement.

    Must the company have a registered presence in the


    territory of incorporation?
    Yes. An IBC must at all times have a registered office and
    registered agent within Seychelles.

    What records must be maintained in the territory and are


    they available for public inspection?
    Although not mandatory, we recommend that an imprint of
    the common seal be kept at the registered office. A copy of
    the share register and the register of directors and
    officers must be in Seychelles, and they are usually kept at
    the registered office. Other records such as minutes of
    meetings of directors, members and copies of all
    resolutions may be kept at such places as the directors
    determine. These are not available for public inspection.

    Can the company make secured loans?


    Yes, subject to compliance with the law concerning banking,
    consumer credit and investment intermediaries.

    Can the company make unsecured loans?


    Yes.

    What are the limits placed on the company’s borrowing


    powers?
    None imposed by the Act.

    Is there a register of company charges?


    A company may maintain at its registered office or such
    other place as the directors may determine a register of
    mortgages, charges and other encumbrances. This is not
    mandatory. An application to register a mortgage or charge
    with the Registrar may be made.

    Company seal
    The company may have a common seal.

    Re-domiciliation provisions
    A company incorporated under the laws of a foreign
    jurisdiction may continue its existence in Seychelles.
    Similarly, IBCs may transfer their domicile to foreign
    territories that permit such procedures.

    Seychelles Company (IBCs)


    Information Sheet www.jordanstrustcompany.com

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