Company Formation in Seychelles | CompanyFormation24

Last updated: April 2026.

Seychelles is the cheapest, fastest offshore IBC jurisdiction still on the OECD white list. A Seychelles International Business Company — the IBC — pays zero tax on foreign-source income, receives its Certificate of Incorporation in 24 to 48 hours, and requires no minimum share capital. The Republic of Seychelles was removed from the EU greylist on 17 February 2026 after the OECD Global Forum rated its information-exchange regime "Largely Compliant". Foreign investors can hold 100% of shares. Bearer shares are prohibited. The currency is the Seychellois rupee; IBC share capital can be denominated in any currency.

We form Seychelles IBCs and CSLs end to end: FSA-licensed registered agent, memorandum and articles, beneficial-owner filing with the FIU, economic substance documentation, tax registration with the Seychelles Revenue Commission where applicable, and bank account introductions with Absa Seychelles, MCB Seychelles, Nouvobanq, and offshore alternatives. Fixed price, dedicated manager, all government fees included.

Quick facts	Value
IBC tax on foreign-source income	0% — territorial regime
Domestic / onshore Business Tax	15% on first SCR 1,000,000; 25% above
CSL (Company Special Licence) tax	1.5% on worldwide profits — with DTA access
VAT (standard)	15% — registration threshold SCR 1,000,000
Withholding tax on IBC foreign-source dividends, interest, royalties	0%
Withholding tax on Seychelles-source dividends, interest, royalties	15%
Capital gains tax	None
Minimum share capital	None — one share, any value, any currency
Foreign ownership	100% across all company forms
Minimum directors / shareholders	1 director, 1 shareholder (can be the same person)
Standard IBC formation time	24–48 hours
Government fees	Included in our packages
Language of filings	English
Currency	Seychellois Rupee (SCR)

Why Form a Company in Seychelles

Seychelles is the cost-efficient end of the offshore spectrum. Four reasons drive most decisions.

The tax regime is territorial for IBCs. A Seychelles IBC earning only foreign-source income is exempt from Seychelles Business Tax. No corporate income tax on foreign trading. No capital gains tax. No withholding tax on dividends, interest, or royalties paid to non-residents out of foreign-source income. The IBC is taxed only to the extent it earns Seychelles-source income, in which case the standard progressive Business Tax applies — 15% up to SCR 1 million and 25% above that. The territoriality rule has been in the IBC Act since 2018 and survived the OECD peer review.

The cost and speed floor is very low. A Seychelles IBC can be incorporated in 24 to 48 hours and often the same day for a fully-prepared file. There is no minimum share capital. There is no audit requirement for most IBCs. Annual compliance is light — the annual licence fee, an annual confirmation by the registered agent, and the economic-substance declaration if applicable. For asset-holding, IP, cross-border trading, and fintech structures that do not need treaty access, this is the lowest effective total cost on the market.

Seychelles is off both EU lists. On 17 February 2026 the Council of the EU removed Seychelles from Annex II — the greylist. Seychelles had been on Annex I in 2023, moved to Annex II in February 2024, and was removed entirely in February 2026 following a positive OECD Global Forum reassessment on Exchange of Information on Request. Seychelles IBCs therefore face no EU-jurisdiction discrimination for banking, DAC6, or ATAD purposes — a material advantage over BVI and Cayman.

Anonymity is gone; compliance is modern. The 2024 IBC amendment introduced nominee disclosure. The Beneficial Ownership Act requires UBO registration at a 10% threshold with penalties up to USD 10,000 for non-compliance. UBO data is held by the FIU, not public, but accessible to regulators and obligated entities. Seychelles now meets FATF recommendations on beneficial ownership.

The trade-offs are specific. The IBC does not access the Seychelles double-tax treaty network — that privilege is reserved for the CSL. Domestic bank account opening is slow and balance-heavy — Absa requires roughly USD 35,000 minimum for non-resident corporate accounts. Most operating IBCs therefore bank offshore through Singapore, Mauritius, UAE, or EMIs. Substance rules now apply to IBCs in MNE groups earning passive foreign-source income.

Company Types Available in Seychelles

Seychelles company law sits on three statutes — the International Business Companies Act 2016, the Companies Act 1972, and the Companies (Special Licences) Act 2003. Most cf24 clients pick one of the first two.

International Business Company (IBC)

The workhorse offshore vehicle. Governed by the International Business Companies Act 2016 as amended in 2024 and 2025. Limited liability. No minimum share capital — a single share of any denomination suffices. One director and one shareholder, who can be the same individual or corporate entity. No residency or nationality requirement for directors or shareholders. The FSA maintains the IBC register through a licensed registered agent — direct filing by the company is not permitted.

Tax: exempt on foreign-source income under the territorial regime. Only Seychelles-source income is taxed under the Business Tax Act. A well-structured offshore IBC therefore pays no Seychelles Business Tax at all.

Used for: offshore holding, international trading invoicing non-resident counterparties, IP licensing where substance can be evidenced, cryptocurrency and fintech structures, family-office vehicles, asset protection.

Company Special Licence (CSL)

A domestic company incorporated under the Companies Act 1972 that holds a Special Licence under the Companies (Special Licences) Act 2003. Unlike the IBC, the CSL is tax-resident in Seychelles and can access the double-tax treaty network — Seychelles has DTAs with China, Cyprus, Indonesia, Malaysia, Mauritius, South Africa, Thailand, the UAE, and a dozen other partners. Tax: 1.5% on worldwide profits. Minimum two directors — natural persons only, no corporate directors.

Used for: fund management, investment advisory, insurance, reinsurance, regional treaty-planning structures, holding companies that need DTA access to avoid withholding leakage on inbound flows. FSA processing takes 4 to 6 weeks.

Domestic Company Limited by Shares

An ordinary Seychelles onshore company under the Companies Act 1972. Business Tax at 15% on the first SCR 1 million and 25% above that. SMEs under SCR 1 million turnover can elect the Presumptive Tax regime and pay 1.5% on turnover. Used for genuine local trading, hospitality, property, consulting, and any business earning Seychelles-source income. No restriction on foreign ownership.

Limited Partnership

Governed by the Limited Partnerships Act 2003. General partner bears unlimited liability; limited partners have capped exposure. Tax-transparent by default. Used for private equity, venture capital, and fund structures raising from international LPs.

Trust and Foundation

The International Trusts Act 1994 and the Foundations Act 2009 support foreign-settled trusts and purpose foundations. Foreign-source income is tax exempt. Used for estate planning, asset protection, and philanthropic purposes alongside an IBC or CSL.

Form	Min capital	Liability	Tax treatment	Common use
International Business Company (IBC)	None (1 share, any value)	Limited	0% on foreign-source income	Offshore holding, trading, IP, fintech
Company Special Licence (CSL)	USD 1 typical	Limited	1.5% worldwide, with DTA access	Fund mgmt, treaty structures, insurance
Domestic Company	None	Limited	15%/25% Business Tax	Local trading, operating businesses
Limited Partnership	None	GP unlimited / LP limited	Tax-transparent	Private equity, VC, funds
Trust / Foundation	USD 1 foundation	Fiduciary	Foreign-source tax exempt	Asset protection, estate planning

For an alternative to new formation, see our sister brand's pre-incorporated Seychelles companies — ready to use immediately with nominee structures and clean trading history on request.

Step-by-Step Formation Process

A typical Seychelles IBC formation runs like this. Most of it happens in the registered agent's back office; the client sees a KYC pack go in and a Certificate of Incorporation come out.

Structure selection. We confirm the right vehicle. An IBC suits pure offshore activity. A CSL suits treaty-planning structures. A domestic company suits Seychelles-source trading.

Name check. The licensed registered agent searches the FSA register for the proposed name. Regulated terms — "bank", "insurance", "trust", "fund", "chamber of commerce" — require prior FSA authorisation. Name clearance is usually same-day.

KYC and documentation pack. Each director, shareholder, and beneficial owner provides a certified passport copy, proof of residential address within three months, a bank or professional reference, a CV, and a source-of-funds declaration. Corporate shareholders add apostilled incorporation certificate, register of members, and UBO confirmation. The registered agent drafts the memorandum and articles, the register of directors, and the register of members.

IBC incorporation filing. The registered agent files the incorporation application with the Registrar of International Business Companies — an FSA unit. The Certificate of Incorporation is usually issued within 24 to 48 hours. Same-day filing is available for fully-prepared files submitted early in the Seychelles business day.

Beneficial ownership register. The registered agent files the UBO register with the FIU. UBOs are identified at a 10% threshold. Non-compliance penalties reach USD 10,000 under the 2025 amendments.

Economic substance assessment. If the IBC is within a multinational group earning passive foreign-source income — dividends, interest, rent, royalties, capital gains — economic substance rules apply. Pure equity-holding IBCs meet "light substance" via the registered agent. Other in-scope IBCs need documented strategic decision-making, staff, and expenditure in Seychelles.

Seychelles Revenue Commission registration. Required only if the IBC earns Seychelles-source income or operates a Seychelles branch. Most pure offshore IBCs never register with the SRC.

Bank account opening. Domestic Seychelles banks — Absa Seychelles, MCB Seychelles, Nouvobanq — onboard IBCs with minimum-balance thresholds. Most IBCs open offshore accounts instead, through Singapore, Mauritius, UAE, or fintech EMIs such as Wise, Revolut Business, and Airwallex. Onboarding takes 2 to 4 weeks domestically, 3 to 10 business days for EMIs.

End-to-end timeline from KYC clearance to operating IBC with a bank account is usually 1 to 4 weeks. A CSL takes 6 to 10 weeks because the FSA reviews the licence.

Required Documents

For each director, shareholder, and beneficial owner we need:

Certified passport copy (notarised or apostilled)
Proof of residential address within three months — utility bill, bank statement, government letter
Bank reference letter or professional reference
CV covering the last ten years
Source-of-funds declaration with supporting evidence
Tax identification number from the home jurisdiction

For corporate shareholders:

Apostilled certificate of incorporation
Apostilled register of directors and register of members
Apostilled certificate of good standing within three months
Memorandum and articles of association
Confirmation of the ultimate beneficial owner

For a CSL application we add a business plan, financial projections, fit-and-proper evidence for the two natural-person directors, and a substance plan. Apostille is required for documents issued outside the Commonwealth. English translations are required for anything not already in English or French.

Costs and Timeline

Seychelles IBC formation is the cheapest offshore option still on the OECD white list. A CSL costs more because of the FSA licence, the two natural-person directors, local substance, and the ongoing audit requirement.

Our IBC package covers FSA-licensed registered agent for year one, memorandum and articles drafting, incorporation filing, Certificate of Incorporation, common seal, share certificates, beneficial-owner filing with the FIU, economic substance assessment, and a bank account introduction with domestic and offshore options. Contact us for a fixed-price quote — no hourly fees, and the annual IBC licence is included with no extras added later.

Typical timeline from KYC clearance for an IBC:

Day	Milestone
0	Engagement, KYC submitted
1	KYC cleared, memorandum and articles drafted, name reserved
1–2	Incorporation filed, Certificate of Incorporation issued
2–3	UBO register filed with FIU, corporate kit dispatched
3–14	Bank account opened (EMI 3–10 days, domestic Seychelles bank 2–4 weeks, offshore Singapore/Mauritius 2–4 weeks)

A CSL timeline adds 4 to 6 weeks for FSA review of the licence application.

Tax Overview for Seychelles Companies

Seychelles tax has two tracks — the Business Tax Act for resident companies, and the IBC Act territorial exemption for offshore IBCs.

IBC — foreign-source income: 0%. A Seychelles IBC earning only foreign-source income is exempt from Business Tax. No corporate income tax, no capital gains tax, no WHT on outbound flows paid out of foreign-source income. Seychelles operates a territorial tax system for IBCs.

IBC — Seychelles-source income: taxed. Where an IBC earns Seychelles-source income — local trading, Seychelles real property, Seychelles employment — it falls within the standard Business Tax regime. Rates: 15% on the first SCR 1,000,000 and 25% above that. Banking, insurance, and telecom are taxed at 33%.

CSL — 1.5% worldwide. A Company Special Licence pays 1.5% Business Tax on worldwide profits, in exchange for access to the Seychelles double-tax treaty network. The CSL is the only Seychelles vehicle that combines low headline tax with treaty benefits.

Presumptive Tax for SMEs. Domestic companies with annual turnover under SCR 1,000,000 can elect Presumptive Tax at 1.5% on turnover in place of the progressive Business Tax.

VAT: 15% standard rate, set by the VAT Act. The registration threshold is SCR 1,000,000 in annual taxable turnover. Voluntary registration is available from SCR 100,000 under the 2025 update. Exports of goods and most services supplied to non-residents are zero-rated. Most IBCs have no VAT exposure in Seychelles because they neither supply nor receive taxable supplies in the country.

Withholding tax. Seychelles imposes 15% WHT on dividends, interest, royalties, and technical service fees paid to non-residents — but only out of Seychelles-source income. A resident entity paying dividends out of foreign-source income carries no WHT. IBCs paying dividends, interest, or royalties out of foreign-source income therefore owe zero Seychelles WHT. CSLs access treaty-reduced WHT rates — often 5–10% on dividends and interest under the 20-plus DTAs in force.

Capital gains tax. None. Seychelles does not levy capital gains tax on the sale of shares, securities, or other capital assets.

Economic substance. Under the IBC Act as amended, Seychelles IBCs that form part of a multinational group and earn passive foreign-source income — dividends, interest, rent, royalties, or capital gains — must demonstrate adequate local substance. Pure equity-holding IBCs satisfy a "light substance" test via the registered agent and statutory filings. Other in-scope IBCs must evidence strategic decision-making, qualified staff, and expenditure in Seychelles. Non-compliance can trigger loss of the territorial exemption.

Double-tax treaties. Seychelles has DTAs with roughly 25 countries, including China, South Africa, Mauritius, Cyprus, Malaysia, Thailand, Indonesia, the UAE, Qatar, Luxembourg, and Monaco. IBCs do not access these treaties. CSLs do. This is the single most important distinction between the two vehicles.

EU and OECD status. On 17 February 2026 the Council of the EU removed Seychelles from Annex II — the greylist — following a positive OECD Global Forum reassessment. Seychelles is now off both EU lists. The OECD Global Forum rated the country "Largely Compliant" on Exchange of Information on Request.

Banking for Seychelles Companies

Seychelles has seven licensed commercial banks. Three handle the bulk of non-resident corporate accounts; most IBCs open accounts offshore.

Absa Bank (Seychelles) Limited — the former Barclays Seychelles — is the most active domestic bank for non-resident corporate onboarding. Multi-currency accounts in USD, EUR, GBP, ZAR, and SCR. Remote onboarding with video verification. A minimum balance of around USD 35,000 is typical for non-resident IBC accounts. Investment-grade parent group.

MCB Seychelles is part of the Mauritius Commercial Bank group and suits Africa-facing structures with multi-currency and trade-finance needs. Close coordination possible with MCB Mauritius for clients running parallel structures.

Nouvobanq — the Seychelles International Mercantile Banking Corporation — is majority state-owned and accepts IBC accounts, though its primary use case is local Seychelles operations. Multi-currency, online banking, local trade finance.

Bank of Baroda (Seychelles), Al Salam Bank, Seychelles Commercial Bank, and Bank of Ceylon fill the remaining domestic banking market. Bank of Baroda is useful for clients with an Indian connection. Al Salam handles Islamic-finance accounts.

Offshore banking alternatives. Most IBCs bank through non-Seychelles institutions — DBS Singapore, OCBC Singapore, MCB Mauritius, SBM Mauritius, Emirates NBD in the UAE, and EMIs including Wise, Revolut Business, and Airwallex. EMI onboarding runs 3 to 10 business days. Traditional offshore banks onboard in 2 to 4 weeks.

Nominee Director Services

Seychelles permits nominee directorship, with new disclosure rules.

Under the International Business Companies (Amendment) Act 2024 — effective 18 December 2024 — where a shareholder is a nominee, the register of members must disclose the nominator: name, address, date of birth, and nationality for individuals; incorporation details for corporates. The register is kept by the licensed registered agent. It is not public. It is accessible to the FSA, FIU, SRC, and law enforcement on request, and to banks performing KYC.

Anonymous nominee arrangements are no longer possible vis-à-vis regulators. Nominee arrangements vis-à-vis the public are still available, and many clients use nominees for commercial confidentiality rather than opacity. The nominee signs under a declaration and power of attorney; the principal retains beneficial ownership and economic interest.

We provide nominee director and shareholder services through our FSA-licensed registered agent partner. Indemnity, nominee declaration, and service-level agreement covering board meetings and signing authority are standard. We do not provide nominees where the intent is to obscure beneficial ownership from regulators or banks.

Frequently Asked Questions

How much is corporate tax in Seychelles in 2026?

A Seychelles IBC earning only foreign-source income pays zero Business Tax under the territorial regime. A domestic company pays 15% on the first SCR 1 million and 25% on amounts above that; banking, insurance, and telecom pay 33%. A Company Special Licence pays 1.5% on worldwide profits and accesses the Seychelles DTA network.

How long does it take to register a Seychelles IBC?

The Certificate of Incorporation is typically issued within 24 to 48 hours of filing by a licensed registered agent. Same-day filing is possible for a fully-prepared file submitted early in the Seychelles business day. Opening a bank account adds 3 to 10 business days for an EMI or 2 to 4 weeks for a domestic Seychelles or offshore bank.

What is the minimum share capital for a Seychelles IBC?

There is no minimum share capital. A Seychelles IBC can be incorporated with a single share of any denomination, in any currency. The share capital is stated in the memorandum of association. USD 1 is common. Bearer shares are prohibited — all shares must be registered.

Can a foreigner register a company in Seychelles?

Yes. Seychelles law allows 100% foreign ownership across every company form. A non-resident can be the sole director and sole shareholder of an IBC, a CSL, or a domestic company. There is no residency or nationality requirement. The only locally resident participant required is the FSA-licensed registered agent, which we appoint.

What is the difference between an IBC and a CSL in Seychelles?

An IBC is tax-free on foreign-source income but has no access to Seychelles double-tax treaties. A CSL pays 1.5% Business Tax on worldwide profits but accesses the Seychelles DTA network with China, Cyprus, Mauritius, South Africa, and other partners. Use an IBC for cost-efficient offshore holding and trading; use a CSL where treaty relief matters.

Is Seychelles a tax haven in 2026?

Seychelles is off both EU lists and has been rated "Largely Compliant" by the OECD Global Forum on Exchange of Information on Request. The EU Council removed Seychelles from the greylist on 17 February 2026. Full beneficial-ownership transparency, nominee disclosure, and economic substance rules apply. Seychelles is a compliant low-tax jurisdiction rather than a secrecy-based haven.

Do I need to visit Seychelles to form a company?

No. Every stage — incorporation filing, FIU beneficial-ownership registration, and bank account opening — can be completed remotely. Documents are couriered certified and apostilled. Most banks accept video verification in place of branch visits. Non-resident directors and shareholders never need to travel to Mahé in a standard formation.

Get Started — Form Your Seychelles Company

A fixed-price quote in 60 seconds. Certificate of Incorporation in 24 to 48 hours for a standard IBC. CSL licence secured for treaty-planning structures within 4 to 6 weeks. Bank account introduction included with Absa Seychelles, MCB Seychelles, Nouvobanq, and offshore alternatives in Singapore, Mauritius, the UAE, and leading EMIs. FSA-licensed registered agent provided for year one. Beneficial-ownership filing with the FIU handled for you.

Call +48 2222 5 2222 or email [email protected] to start. Most Seychelles IBCs are fully operating with a bank account within 2 weeks.

Content prepared by Anna Modlinska, Company Formation Specialist. Approved by Tomasz Bielski, Managing Director.