Company Formation in Seychelles in 2026: Benefits, Process and Obligations
The Seychelles International Business Company remains one of the fastest and cheapest ways to register a company offshore. It is also a jurisdiction that has changed substantially since 2021, and the obligations attached to an IBC today are not the ones most guides describe. Here is what you get, what it costs you in compliance, and what offshore companies in Seychelles can and cannot do.
Off the EU grey list since February 2026. The Council of the European Union removed Seychelles from Annex II of its list of non-cooperative tax jurisdictions on 17 February 2026, after the Global Forum rated the country Largely Compliant on exchange of information in January 2026. For a bank reviewing your incorporation documents this is the single most useful thing that has happened to the jurisdiction in a decade.
Foreign-source income generally outside the tax charge. Seychelles taxes on a territorial basis. Trading profits earned outside the country normally fall outside the charge, though passive income now carries conditions set out below. There is no capital gains tax and no withholding on distributions to non-residents.
One shareholder, one director, no minimum capital. A single person can be both, of any nationality, resident anywhere. Share capital can be expressed in any currency and there is no statutory minimum, though USD 1,000 to 5,000 presents better to banks than a nominal figure.
Incorporation in one to two working days. The Registrar works quickly once a complete file is lodged. Allow five business days end to end for name approval, incorporation and the notarised document set, and longer if apostilles are needed.
Beneficial ownership is confidential, not secret. The register sits with your registered agent rather than on public record, and no part of it is published. It is available to the Financial Intelligence Unit, the Financial Services Authority, law enforcement, the Registrar, the Central Bank and the courts, and from 2026 to banks and licensed service providers for customer due diligence. Plan on that basis.
Licensable activity and nominee arrangements are both permitted. Insurance, banking, securities dealing and other regulated business can be carried on with the relevant licence. Nominee shareholding is lawful, subject to a declaration requirement introduced in 2025.
Specificity of Seychelles Company Formation
The International Business Company under the IBC Act 2016 is the vehicle almost every foreign founder uses. Seychelles law also provides for trusts, foundations, protected cell companies, limited partnerships and funds, and we can structure any of them where the IBC is not the right answer.
One shareholder is enough, and that shareholder may be an individual or a company, of any nationality and resident anywhere. One director is enough, with the same freedom. There is no minimum share capital and no requirement to pay capital up before registration.
What the law does require is a licensed registered agent in Seychelles and a registered office at that agent’s address. This is not a formality you can outsource abroad: since 2022 your accounting records have to sit at that address too. We act through a licensed agent and hold the records for you.
Incorporation itself takes one to two working days at the Registrar. Allow about five business days from instruction to a notarised document set in your hands, and add time for apostilles where your bank or counterparty needs them. Ready-made shelf companies are available where the timing matters more than the name.
How to Register a Company in Seychelles
We have been forming companies since 1997 and can register your Seychelles IBC within five business days.
Everything runs on our side. We check and reserve the company name, prepare the memorandum and articles, pay all state and notary fees, provide the registered agent, registered office and secretarial services, lodge the incorporation, and send you a notarised set of statutory documents. Incorporation is remote and you do not need to travel.
Upon completion of Seychelles company formation you’ll receive:
Certificate of Incorporation;
Memorandum & Articles of Association;
Register of Directors and Members;
Share Certificate;
Resolution of the manager specifying the company’s registration address;
Corporate seal;
Documents Apostille.
Banks in Seychelles
Local banking is possible but slow, and most clients pair a Seychelles IBC with an account elsewhere. We run both tracks. See corporate bank accounts.
Absa Bank (Seychelles) Limited, formerly Barclays;
Nouvobanq, the Seychelles International Mercantile Banking Corporation;
Seychelles Commercial Bank;
Mauritius Commercial Bank (Seychelles) Limited;
Bank of Baroda;
Habib Bank Limited.
Our Other Services in Seychelles
These include:
Assistance with licensing in the Seychelles, including the Securities Dealer licence;
Accounting records keeping and bi-annual lodging, as the IBC Act now requires;
Legal opinions and legal assistance in Seychelles;
Nominee service, with the 2025 declaration handled;
Ready-made (shelf) companies available;
Trademark registration.
What a Seychelles IBC Must Do Every Year
This is where most information about Seychelles is out of date, and where the penalties sit. An IBC is cheap to form and no longer free to run.
Accounting records, kept in Seychelles. Bank statements, invoices, receipts, contracts, loan agreements, title documents, vouchers and ledgers. Since the 2021 amendment to section 175 of the IBC Act, effective August 2021, these must be held at the registered office in Seychelles. Keeping them abroad, which was normal practice before 2022, is no longer permitted.
Bi-annual lodging with your registered agent. Records for January to June are due by 31 July; records for July to December by 31 January of the following year. They go to the registered office, not onto any public file.
Annual Financial Summary, within six months of the financial year end. Required for large companies, meaning turnover above roughly SCR 50 million or USD 3.6 million, and for any non-large company that is not a pure holding company. Small pure holding companies are exempt. It is not publicly filed.
Seven-year retention from the date of the transaction.
Beneficial ownership register maintained and kept current at the registered agent, under the Beneficial Ownership Act 2020, in force since 28 August 2020.
Annual government renewal fee and registered agent fee, payable on the anniversary of incorporation.
Sections 175(5) and 175(6) of the IBC Act provide for penalties of up to USD 10,000 per breach, and a director who knowingly permits a breach can be fined personally. In practice the companies that get caught are the ones whose owners believed an offshore company had no filing obligations at all. We keep the records and lodge them as part of the annual service, which is the cheapest way to make the problem go away.
Taxation of a Seychelles IBC
Seychelles taxes on a territorial basis, and for an ordinary trading IBC earning its income abroad the practical outcome is still nil. The blanket statement that foreign income is never taxed stopped being accurate in 2021, and the difference matters if your company holds assets rather than trades.
The Business Tax (Amendment) Act 2020, in force from 15 September 2021, made the exemption for foreign-source passive income conditional. Dividends, interest, rent and capital gains from foreign sources are exempt where the company has adequate economic substance. Profits earned through a genuine overseas permanent establishment are exempt. Foreign intellectual property income is taxable, except for qualifying patent-related returns.
Economic substance applies where two things are true together: the IBC belongs to a multinational group with entities in more than one tax jurisdiction, and it earns passive foreign-source income in the year. A pure equity or real estate holding company needs light substance only, meaning its local filings, registered agent and registered office. Anything else in scope needs real substance: strategic decision-making, risk management and documented expenditure proportionate to the assets.
There is no capital gains tax, no withholding tax on dividends, interest or royalties paid to non-residents, and no stamp duty on transfers of IBC shares.
And the point that decides real outcomes. A nil Seychelles charge is not a nil charge for you. Your own country of residence may tax the company through controlled foreign company rules or treat it as resident where it is actually managed, and Seychelles exchanges information automatically under the Common Reporting Standard. We look at both sides before recommending a structure, as part of international tax planning.
We have been registering companies and providing legal services in Seychelles since 1997. Tell us what the company is for and where you are resident, and we will tell you whether a Seychelles IBC is the right vehicle before you pay for one.
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FAQ (Frequently Asked Questions)
How long does it take to register a company in Seychelles?
Incorporation at the Registrar takes one to two working days once a complete file is lodged. Allow about five business days from instruction to a notarised set of statutory documents, and longer where apostilles are needed for a bank or counterparty. The process is remote and you do not need to travel.
How much does it cost to register a company in Seychelles?
The cost has three parts: the government incorporation and annual renewal fees, the licensed registered agent and registered office, and the accounting records service the IBC Act now requires. The third is the one older quotes leave out, and it is recurring.
Ask any provider to break the quote into those three lines plus their own fee. A price that covers only incorporation tells you nothing about what year two costs.
Can a foreigner own and run a Seychelles company?
Yes. One shareholder and one director are enough, they can be the same person, and there is no nationality or residence requirement for either. A corporate shareholder is permitted. What the law does require is a licensed registered agent in Seychelles and a registered office at that agent’s address.
What is the minimum share capital of a Seychelles IBC?
There is no statutory minimum and capital may be expressed in any currency. In practice a nominal figure presents poorly to banks, so USD 1,000 to 5,000 is the usual recommendation. Capital does not need to be paid up before registration.
Is a Seychelles company confidential?
Confidential, not secret, and the distinction matters. The beneficial ownership register is kept by your registered agent under the Beneficial Ownership Act 2020 and no part of it is published. It is accessible to the Financial Intelligence Unit, the Financial Services Authority, law enforcement, the Registrar, the Central Bank and the courts, and from 2026 to banks and licensed service providers for customer due diligence purposes.
Seychelles also exchanges financial account information automatically under the Common Reporting Standard. Structure on the basis that your home tax authority can find out, because it can.
Does a Seychelles IBC have to keep accounts?
Yes, and this is the requirement most guides still miss. Accounting records must be kept at the registered office in Seychelles, not abroad, following the 2021 amendment to section 175 of the IBC Act. Records for January to June are lodged with the registered agent by 31 July and those for July to December by 31 January.
Large companies, above roughly USD 3.6 million of turnover, and any non-large company that is not a pure holding company must also prepare an Annual Financial Summary within six months of the year end. Records are retained seven years, and penalties reach USD 10,000 per breach with personal liability for directors.
Does a Seychelles IBC pay tax?
Seychelles taxes territorially, so an ordinary trading IBC earning abroad normally pays nothing locally. There is no capital gains tax, no withholding on payments to non-residents and no stamp duty on share transfers.
Since the Business Tax (Amendment) Act 2020 took effect on 15 September 2021, foreign-source passive income such as dividends, interest, rent and capital gains is exempt only where the company has adequate economic substance, and foreign intellectual property income is taxable apart from qualifying patent returns. Your own country of residence may tax the company regardless, through controlled foreign company rules or place of effective management.
Is Seychelles on any blacklist?
No. The Council of the European Union removed Seychelles from Annex II of its list of non-cooperative tax jurisdictions on 17 February 2026, following a Largely Compliant rating from the Global Forum on exchange of information in January 2026. Seychelles is not on the FATF list of high-risk jurisdictions subject to a call for action, which contains North Korea, Iran and Myanmar.
What can a Seychelles IBC not do?
An IBC is designed for business conducted outside Seychelles. Carrying on business within the country, holding Seychelles real estate, or conducting banking, insurance, securities dealing or other regulated activity requires the appropriate licence or a different vehicle. We will tell you at the outset which of those applies to your plan.
How can I get more information?
Private Financial Services provides a full range of corporate services in Seychelles, including company registration, accounting records and bi-annual lodging, bank accounts, licensing, cryptocurrency and fintech projects and gaming.
Tell us what the company is for and where you are resident, and we will give you a straight answer on whether Seychelles fits.