Seychelles offshore IBC

Seychelles International Business Company is the most popular and versatile type of offshore corporations available in Seychelles. Like most other classic offshore companies, Seychelles IBC is a tax-free corporation with no reporting and minimum record-keeping requirements and comprehensive confidentialilty features, designed for engagement into all forms of international business.

Seychelles IBC has many features similar to the BVI IBC, which is the most popular international business company.

Formation, tax benefits and general structure of a Seychelles IBC are regulated by the Seychelles International Business Companies Act 1994. This is very similar to most of the offshore legislation, however it has more flexibility than some jurisdictions which have recently become difficult to incorporate in; such are the British Dependant Territories which are being brought under EU legislation.

One of the most obvious competitive advantages of Seychelles offshore IBC is Government license fees and authorised capital. This is, first of all, an imressive ratio between the maximum available authorised capital (USD 100,000) and the minimum license fee (USD 100). In two of the other most popular offshore tax havens, the Bahamas and the British Virgin Islands, the minimum government annual fee is USD 350 (in Seychelles – USD 100). Authorised share capital for the minimum fee in these jurisdictions is only USD 50,000 (in Seychelles – USD 100,000).

For Seychelles offshore company formation there is no minimum or maximum authorized share capital; however, the statutory incorporation fees are USD 100 for capital up to USD 100,000 and USD 1,000 for capital in excess of USD 100,000. There is also an annual government fee which is the same as government fee at incorporation and depends on capital (up to USD 100,000 and above).

Fees are fixed for the life of the company, notwithstanding any changes which may occur in future regulations for new companies.

Other advantages and key features of Seychelles IBC are:

• No requirement for presenting books or audited reports to any authorities;

• Confidentiality: details of the company beneficial owners, directors and shareholders are not publicly available;

• The Seychelles is an independent sovereign nation, not affected by the UK/EU legislation that which impacts the British Dependent Territories and the Channel Islands;

• Excellent flexibility of corporate structure, minimum compliance work, confidentiality of directors and shareholders. Shareholders and directors may be the same person, of any nationality, and residents of any country. Each of them can be either corporation or physical person;

• The same working day as in Europe, Africa and Asia (times zone – GMT+4);

• Seychelles IBCs are not required to prepare or file any financial accounts, there is no financial reporting. Offshore IBCs may arrange their accounts in any way that fits for the company owners, so as to enable them to establish the financial position of the Company with reasonable accuracy;

• Provisions against confiscation. Where any foreign governmental authority takes or seizes any shares or other interest in a Seychelles offshore IBC, by way of nationalisation, expropriation, confiscation, force or duress, or by imposition of any confiscatory tax, assessment or other governmental charge, a Seychelles court decision may be obtained ordering the company to disregard the attempted seizure and continue to respect the rights of the shareholder of the Seychelles IBC.