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Seychelles International Business Company - Incorporation

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Q:
What documents should be submitted for incorporating a Seychelles International Business Company (“IBC”)?
A:
In general, to incorporate an IBC in Seychelles, the following must be submitted for due diligence checking:

1.
Details of the proposed business activities;
2. Source of fund of the proposed company;
3. Source of wealth of the shareholders and beneficial owners;
4. Certified passport copies of all the directors, shareholders and beneficial owners; and
5. Certified residential address proof copies of all the directors, shareholders and beneficial owners.

The passports and address proofs of the directors, shareholders, beneficial owners must be certified by a staff of Kaizen or by a CPA, lawyer or attesting officer.

Q:
How long does it takes to incorporate an IBC in Seychelles?
A:
Generally, it will take around 6 working days to proceed the incorporation of IBC upon all required documents received.

Q:
Is there any restriction on the registration of company name of IBC in Seychelles?
A:
The name of the IBC must be ended with “Limited”, “Corporation”, or “Incorporated”, or abbreviation “Ltd”, “Corp” or “Inc”. It must not contain the restricted words such as “Assurance”, “Bank”, “Trust”, “Building Society”, “Cooperative”, “Chamber of Commerce”, “Chartered”, “Insurance”, “Imperial”, “Municipal” or “Foundation” or which suggests the patronage of any Government.

The following words are prohibited as IBC names unless evidence of the appropriate license or permission is provided: “Casino”, “Fund”, “Securities” and “University”.

It is also prohibited to use the name which is already in use or any names deemed by the Registrar to be indecent, offensive or misleading.

Q:
Are there any restriction on business activities for an IBC in Seychelles?
A:
Referring to the amendments of International Business Companies Act come into force on 1 January 2019, restrictions related to carrying on business in Seychelles and owning/leasing of immovable property in Seychelles have been abolished. However, the IBCs are still prohibited to carry on business in Seychelles includes the following:

1.
Carrying on banking business;
2. Carrying on insurance business;
3. Carrying on international corporate services;
4. Carrying on business as a mutual fund;
5. Carrying on securities business; and
6. Carrying on gambling business.

Q:
Is the Seychelles IBC information available for inspection by public?
A:
The identities and personal details of the beneficial owners, directors and shareholders of a Seychelles IBC are not valid for inspection by pubic. The statutory record of Seychelles IBC is only known to the licensed Registered Agent of the company and will be kept on internal file and remains strictly confidential.

Q:
Can the registered office of IBC be situated outside Seychelles?
A:
No. Seychelles IBC must have a local registered office in Seychelles.

Q:
Is there any requirement on the minimum amount of registered capital of an IBC in Seychelles?
A:
The minimum share capital of an IBC in Seychelles is USD1.

Kaizen handling the registration of an IBC with standard authorized capital of USD50,000 in the Seychelles. On the contrary, if the Company with a capital of more than USD50,000 will be subject to higher official filing fee; extra service fees will be charged for tailor-made Memorandum and Articles of Association.

Q:
Can Seychelles IBC have only one shareholder? Any restriction on the shareholder’s nationality and is it allowed to be held by corporate shareholder?
A:
Yes. IBC should have at least one shareholder. There are no restrictions on shareholder’s nationality and corporate shareholder is allowed.

Q:
Can Seychelles IBC have only one director? Any restriction on the director’s nationality and is it allowed to appoint another corporation to be the director of the company?
A:
Yes. IBC must appoint at least one director. There are no restrictions on the director’s nationality and corporate director is allowed.

Q:
Is it mandatory for the IBC to have the bank account in Seychelles?
A:
No. There are no such requirements which regulate the IBC to have a bank account in Seychelles for operations.

See also:
Seychelles IBC Incorporation Procedures and Fees

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