The International Business Company (IBC) in Seychelles is an alternative to the Mauritian offshore company known as the Authorised Company and to the other offshore companies established in jurisdictions such as the British Virgin Islands (BVI).
The IBC is a company with limited liability, whose activities are governed by the Seychelles International Business Authority (SIBA). It is considered a company that is non-resident for tax purposes and is hence exempt from any kind of taxation.
The IBC must conduct its activities out of Seychelles and it cannot hold real estate properties in Seychelles. The IBC cannot benefit from Double Taxation Agreements (DTAs) either.
The IBCs are normally used for trading, invoicing and property holding activities. They are however prohibited from engaging in banking, insurance, reassurance and fiduciary activities.
The key characteristics of an IBC are:
- Incorporation of the IBC in Seychelles: 1-3 days
- Local directors are not mandatory.
- The Director can be a natural person or a legal entity.
- ‘Shelf-companies’ are available.
- Bookkeeping is not mandatory. However, accounting records should be kept for at least 7 years and should be provided to the Seychelles Registered Agent to be kept at the registered address of the Company.
For more information and advice, please contact us.