- Who it is forHolding, trading, IT and crypto structures that want an offshore-style company with a registered agent in Seychelles
- FormationOnly through a licensed corporate service provider, which files with the Financial Services Authority
- DirectorsAt least one director and one member, and either may be an individual or a company
An international business company (IBC) is incorporated under the International Business Companies Act 2016. Only the company’s registered agent, a corporate service provider licensed in Seychelles, can file the application. We choose the company form, prepare the memorandum and articles, work with the registered agent on the filing and get you ready for the beneficial owner register, the accounting records and the bank account.
What clients come to us for
- You need a holding, trading or IT company with a registered office and a registered agent in Seychelles
- You are building a crypto, Web3 or fintech structure and want to see where the virtual asset licensing regime and the restricted activities apply
- You want to know the beneficial owner, accounting and annual fee rules before you register
- You already have a company elsewhere and consider continuing it into Seychelles, since the Act covers companies incorporated, continued or converted under it
- You want to understand the bank account requirements before you start
How registration works
Choose the company form and the name
The Act allows a company limited by shares, by guarantee, or by shares and guarantee (IBC Act §6), and it can also be a protected cell company or a limited life company. The name must end with “Limited”, “Corporation”, “Limited Liability Company”, “Company” or “Incorporated”, or an approved abbreviation such as Ltd, Corp, LLC, Co or Inc (§25(1)). A name is refused if it is identical or confusingly similar to another one or contains restricted words (§26). A licensed provider can ask the Registrar to reserve a name for 30 days (§29).
Prepare the memorandum and articles
The memorandum states the address of the registered office in Seychelles and the name and address of the registered agent (§14). Shares may have a par value or no par value, but not both in one company (§46). Bearer shares are prohibited (§48).
Appoint the registered agent and decide the officers
A company must always have a registered agent in Seychelles, and that agent must be licensed to provide international corporate services (§164). The company must have at least one director (§130) and at least one member (§99). A director may be an individual or a body corporate (§133).
File the application
Only the proposed registered agent may file the incorporation application, together with the memorandum and articles, the signed application and the fee (§9). The FSA confirms that a person who wants an IBC approaches a licensed corporate service provider, which then liaises with the FSA to register the company.
Set up the records after registration
The company keeps accounting records that explain its transactions and allow financial statements to be prepared (§174), keeps a register of beneficial owners, and pays the annual fee through its registered agent.
What to check before you register
Beneficial owners
Seychelles requires companies to keep a register of beneficial owners. According to the FSA, a natural person who owns or controls 10% or more of a legal person is a beneficial owner under Regulation 3(2)(a) of the Beneficial Ownership Regulations 2020. A beneficial owner must notify the company of a relevant change within 14 days (Beneficial Ownership Act §10(3)). We prepare the ownership chart before the filing.
Accounting records and annual fee
A company that fails to keep accounting records faces a penalty of up to US$10,000, and so does a director who knowingly permits it (§174). A holding company that is not a large company and keeps its records outside Seychelles must lodge them at the registered office in Seychelles at least twice a year (§175). The annual fee is due on or before each anniversary of incorporation, paid through the registered agent, and a late payment adds a 10% penalty within 90 days and 50% after that (§12). The amount is in the Second Schedule and the FSA Prescribed Fees.
Income derived in Seychelles
A company that derives assessable income in Seychelles must notify the Registrar within one month of the first such income, and file an annual return within one year (§361). Tax treatment itself sits in the tax legislation, so we confirm the position for your model with the Seychelles Revenue Commission rules before we recommend the structure.
Restricted activities and licences
An IBC may not carry on banking, insurance, securities, mutual fund or gambling business unless it is licensed or otherwise able to do so. For virtual assets, it may not mine or run a mixer, and it needs a licence under the Virtual Asset Service Providers Act to carry on virtual asset services, or an authorisation to issue a token or NFT, in or from Seychelles (§5(2)). The company is not a licence. We show you which licences your model needs, see licensing and compliance and our article on choosing a jurisdiction.
Bank account
Opening an account depends on the bank, not on the registry. We prepare the business description and documents the bank will ask for.
Questions
Can I register the company myself?
No. Only the registered agent, a corporate service provider licensed in Seychelles, can file the incorporation application, so you approach such a provider and it liaises with the FSA.
Do I need a director or shareholder from Seychelles?
The Act requires at least one director and at least one member and allows a director to be an individual or a company. It does not require them to live in Seychelles, but the company must have a registered office and a registered agent in Seychelles.
Can the company do crypto business?
Only with the right licence. The Act bars an IBC from carrying on virtual asset services in or from Seychelles unless it is licensed under the Virtual Asset Service Providers Act, and it bars mining and mixer services. We check your model against this before registration.
How long does registration take and what does it cost?
The FSA refers to its published service standards for the registration time and to its Prescribed Fees for the amounts, and the registered agent adds its own fees. We confirm the current figures when we quote. See how we price our work.
Sources
- International Business Companies Act 2016, consolidated text (FSA Seychelles)
- Financial Services Authority Seychelles: FAQs on registry and beneficial ownership
- Financial Services Authority Seychelles: beneficial ownership legislation and guidance
- Financial Services Authority Seychelles: virtual asset service providers, apply for a licence