Question 1

How do I register a company in the Seychelles?

Accepted Answer

Begin your company registration process in the Seychelles by organising the required documents of the members as well as information relating to the intended business. Documents of the members include certified true copies of passport and address proofs and a letter evidencing the professional experience, such as a CV or a LinkedIn profile.

Continue the process by checking if your preferred name is available to register with the registry and be sure to adhere to the naming guidelines.

Once you get the name search report, appoint a valid licensed registered agent who will act as a bridge between your company and the authorities. Identifying a valid registered address in the Seychelles is a mandatory step as well.

Now, it is time to complete the KYC due diligence of the members and proceed to filing the application forms for your company's official incorporation with the registry. If the registry requests additional clarification or documentation, be sure to fulfil them on time.

Once the registry has everything in hand, they will review the application and approve it for your company's incorporation, and you will receive the certificate of incorporation for your company in the Seychelles.

Question 2

How long will it take to incorporate a company in the Seychelles?

Accepted Answer

The KYC and due diligence processes of the members and the business usually take 2 to 4 business days once the documents of the members are submitted. During this timeframe, an application for your company's incorporation will be prepared and submitted to the registry. The registry in the Seychelles is usually quick with reviewing the applications and approves them in under 1 to 3 business days. If the registry requests additional documentation or clarification, this timeline might be extended. In summary, you can expect to incorporate your company in the Seychelles in 3 to 7 business days.

Question 3

What are the documents required to form a company?

Accepted Answer

Every member of the company, including directors, shareholders, and UBOs, must share their certified true copies of passports and address-proof documents such as a bank statement, utility bills, etc. Along with this, they are required to share a document that outlines their professional experience in the field of the business of their Seychelles company, and it can include a CV or a LinkedIn profile.

If the holding entity is a corporate entity, the following documents are required: a certificate of incorporation, a memorandum and articles of association or constitution, a register of directors, a register of shareholders or UBO, and an extract of the company’s details from the Registrar of Companies, which can include any of the following: Business Profile, Certificate of Incumbency or Certificate of Good Standing (valid for within 6 months, if any). All members of the corporation must provide identity and address proofs as mentioned above.

Question 4

How much does it cost to register a company in the Seychelles?

Accepted Answer

The total cost of a company's incorporation in the Seychelles is US$999 and this is inclusive of all government fees involved in the process of registration, registered agent service, registered address service, and the preparation of necessary forms, such as a memorandum and articles of association.

Question 5

What are the share capital requirements for Seychelles companies?

Accepted Answer

In the Seychelles, there are no minimum authorised share capital requirements. The share capital can be denominated in any currency. While the standard share capital size that companies typically go with is US$100, there is no maximum set limit for it. The minimum issued capital is only one share of par or no par value. The most common company structure for offshore companies in the Seychelles, the IBCs, can issue shares of no par value, registered shares, preference shares, redeemable shares, and shares with or without voting rights. Bearer shares are not allowed in the Seychelles.

Question 6

Do I need to obtain business or tax licenses in the Seychelles?

Accepted Answer

Yes, there are certain business activities in the Seychelles that need a license from the Financial Services Authority (FSA). These activities include things like banking, money services, insurance, trust services, managing companies, running investment funds, and dealing with securities. If your business falls into any of these categories, you'll need a license to operate legally.

Question 7

Do I need to appoint a local resident as a director or shareholder?

Accepted Answer

No, there are no local director or shareholder requirements for registering a company in the Seychelles. Foreign individuals or businesses can be the directors as well as hold 100% of their companies in the Seychelles. There must be at least one director and the director can be of any nationality, for an international business company (IBC), the most common company type in the Seychelles. There are no country of citizenship, birth, or residence requirements to be a member of a Seychelles company.

Question 8

How many directors and shareholders are required to setup a company?

Accepted Answer

Only one director is required to register a company in the Seychelles and a maximum of 20 directors can be appointed. The director can be of any nationality, irrespective of the country of citizenship, birth, or residence. The director(s) must be over 18 years old and should not have insolvency status. Corporate directors are allowed.

Question 9

Do I need to maintain a register of members?

Accepted Answer

Yes, you are required to prepare and file a register of directors, a register of shareholders, and a register of beneficial owners with the registry. There are no public directories available in the Seychelles that disclose the members of companies and hence the submissions will be kept private by the registry by virtue of strict privacy laws as prescribed in the Companies Act. When the members are added or removed, they must be informed to the registry by filing updated registers.

Question 10

Do Seychelles companies have to do accounting and auditing?

Accepted Answer

Accounting is a must for Seychelles companies and the company must keep its accounting records in the form of transactions, invoices and other documents to prove a transaction for at least 7 years. This must be kept at the registered address in the Seychelles, ready for inspection by the authorities if the requirement arises.

However, auditing the books of accounts is not mandatory for the companies in the Seychelles. But if you want to, you can get your financials audited in-house or externally.

Question 11

What are the annual filings for companies in the Seychelles?

Accepted Answer

The company's annual renewal filing is the only common requirement for Seychelles companies. As of now, there are no economic substance filing requirements in the country. The company must file an updated register of members if any changes happen from what was submitted to the registry in its previous filing.

Question 12

What are the ongoing compliance requirements for the companies?

Accepted Answer

In order to keep your company in the Seychelles compliant with laws and in good standing, you will need to adhere to the company maintenance requirements, such as maintaining an active appointment of a registered agent and registered address in the Seychelles, renewing your company annually by paying the government fee for such renewals, and finally maintaining accounting records of the company for at least 7 years. If these requirements are met, your Seychelles entity will be considered to be in good standing with the law.

Question 13

Do companies need to conduct annual general meetings (AGMs)?

Accepted Answer

No, it is not mandatory to conduct an annual general meeting (AGM) for a company in the Seychelles. Even though it is not a legal requirement, a company can conduct one based on its articles of association or the agreement of the board of directors.

Question 14

What is the cost of maintaining a Seychelles company?

Accepted Answer

The cost of renewing your company in the Seychelles is US$999 and it is inclusive of the government fee involved in the renewal process as well as the preparation and filing of the renewal forms with the registry. This is the minimum amount that a company in the Seychelles would spend annually to keep itself in good standing with the rules and regulations as laid down by the Companies Act.

Question 15

Is my identity made public by the registry in the Seychelles?

Accepted Answer

No, your identity will not be made public by the registry under any circumstances. In the Seychelles, there are no public directories available that disclose the details of the directors, shareholders, or beneficial owners of a company incorporated in the Seychelles. However, the company must disclose these details to the registry at the time of incorporation as well as upon changes.

Question 16

Do Seychelles companies have to pay any taxes?

Accepted Answer

Your International Business Company (IBC) in the Seychelles can benefit from the zero corporate income tax on foreign-sourced income policy. No taxes are levied on dividends, capital gains, or withholding taxes for IBCs in the Seychelles. That being said, if your income is generated within the Seychelles, then you might be liable to pay the taxes as the country follows the territorial tax regime.

Question 17

What are the requirements for registering a company in the Seychelles?

Accepted Answer

The following are the requirements to meet in order to incorporate a company in the Seychelles:
1. Have at least one director and shareholder. A single person or entity can act as both.
2. Appoint a licensed registered agent and maintain a registered address in the Seychelles.
3. Adhere to the naming guidelines and choose a name that is available to register.
4. Pay the government fee for the company's incorporation.

Question 18

What are the company types in the Seychelles?

Accepted Answer

The types of companies in the Seychelles are: International Business Company (IBC); Limited Partnership; Limited Liability Company (LLC); Protected Cell Company (PCC); and Special Licence Company (SLC).

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