International Business Companies (IBC)
Seychelles - simple incorporation, convenient legal framework.The cost of company registration starts at 800 $. Read more...
International Business Company (IBC) is the most popular corporate product of Seychelles in international business because of simple registration procedure, low administration expenses and no taxes in the country of incorporation.
|Principal law||International Business Companies Act 2016|
|Type of company||International Business Company (IBC)|
|Legal capacity||IBC may engage in any lawful business outside Seychelles.|
|Permitted activities in Seychelles|| Within the territory of Seychelles an IBC may:
|Limitations|| An IBC may not:
|Registered office in Seychelles||Required|
|Registered agent in Seychelles||
|Corporate seal||No requirements|
|Availability of shelf (ready-made) companies||Yes|
|Minimum number of directors||
|May a sole shareholder be a director?||Yes|
|Place and frequency of board meetings||Any|
|Public access to information about directors||
|Company secretary||Not required|
|Shareholders and capital|
|Minimum number of shareholders||One (individual or corporate)|
|Place and frequency of meetings||Any|
|Public access to information about shareholders||
|Authorized / paid-up capital||No requirements|
|Usual authorized capital||USD 100000|
|Minimum number of issued shares||1 share|
|Public access to information about beneficial owners||
|Corporate and accounting records|
|Register of members||
|Accounting records|| A company must keep proper accounting records that are sufficient
1) to show and correctly explain the IBC’s transactions;
2) to enable the financial position of the IBC to be determined with reasonable accuracy at any time; and
3) to enable for accounts of the IBC to be prepared.
""Accounting records" mean documents relating to assets and liabilities of the company including receipts and expenditure, sales and purchases and other transactions.
The accounting records must be kept at the registered office of the IBC or such other place as the directors think fit.
Where the accounting records of an IBC are kept at a place other than the registered office the company must inform the registered agent in writing of the physical address of that place. Where such place is changed, the company must within 14 days inform the registered agent in writing of the change of the physical address.
An IBC must retain all accounting records for 7 years, from the date of completion of the transactions to which they relate.
|Audit||Not required, but may be arranged voluntarily.|
|Filing of financial statements with the state authorities||Not required (however a company may file with the Registrar a copy of its annual financial statements).|
|Filing of annual return||A company must file annual return in which it confirms the physical address of location of its accounting records, corporate minutes and resolutions, and undertakes (in case of request) to furnish all or any of its accounting records, minutes and resolutions within the time period specified in the request.|
|Corporate income tax||No|
|Double taxation agreements application||No|