FAQ

INTERNATIONAL BUSINESS COMPANY (IBC) is an offshore company which is allowed to conduct its businesses only outside Seychelles. Banking, insurance, re-insurance and trust businesses are not allowed without obtaining licences. Seychelles International Business Authority (SIBA) is the Registrar for IBC.

An IBC can operate from an office in Seychelles and allowed to maintain a bank account in Seychelles.

An IBC can invest in Seychelles and may also own or manage a vessel or aircraft registered in Seychelles under the Merchant Shipping Act, 1992.

All IBCs are subject to zero taxation in Seychelles.

The Government Annual License fees for the Registrar are fixed for life as follows:

• US$ 100 if authorised share capital is less that US$ 100,000;
• US$ 1 000 if the authorised share capital exceeds US$ 100,000.

IBC FEATURES:

• Minimum number of shareholders - 1 (corporate shareholders are allowed). Bearer shares are allowed. There is no minimum share capital required and any currency may denominate the share capital:
• Minimum number of directors ? 1 (corporate directors are allowed). Local directors are not required;
• Records of directors and shareholders are not open for public;
• Seychelles resident Company Secretary is not required;
• Annual audit, filing accounts and company return are not required;
• Books and records must be kept. The Registrar only needs to know the address where such records are kept.

COMPANY SPECIAL LICENCE (CSL) is a Seychelles domestic tax resident company which is allowed (subject to an approval) to carry on a business both inside and outside of Seychelles provided that a CSL will be mainly used for international holding, service, franchise and headquarter management (offshore bank, fund and insurance businesses require obtaining additional licenses). If approved, a successful applicant is granted by a special license issued by the Seychelles International Business Authority (SIBA).

CSL enjoys access to all of Seychelles Double Taxation Avoidance treaties.

The corporate tax rate applied in Seychelles to CSL worldwide income is 1,5%. Dividends, interests, royalties, property & share transfers are tax exempted.

The Government fees for the Registrar are fixed as follows:

• US$ 200 one time Application fee;
• US$ 200 annual Return filing fee;
• US$ 1 000 annual License fee.

CSL FEATURES:

• Minimum number of shareholders - 1 (corporate shareholders are allowed). Bearer shares are not allowed. At least 10% of the authorized share capital must be issued and paid up. Records of shareholders and beneficial owners are not open for public;
• Minimum number of directors - 2 (corporate directors are not allowed). Local directors are not required unless CSL is going to be used in schemes where conditions of double tax treaties involved. Records of directors are open for public;
• Seychelles resident Company Secretary is required;
• Books and records must be kept. Annual audit, filing accounts and company return are required.

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