Features of the Law

The International Business Company of Seychelles is governed by the International Business Companies Act 1994.

Major features of the Act provide for:

  1. Taxes: IBC are tax exempt in Seychelles.
  2. No Audits: No auditing requirements.
  3. Simplified Procedure: An IBC is formed by filing Articles and Memorandum of Association along with the required fees.
  4. Articles: Articles of Incorporation (Charter) can be adapted to meet individual needs of a company.
  5. Varied Capital Requirements: There is no minimum capital requirement. Shares in an IBC must be registered shares only.
  6. Incorporators: Subscribers may be an individual, or a corporate entity. A company may have Nominee Shareholders through local licensed registered agents.
  7. Directors & Secretary: An IBC must have a minimum of one director. The director may be an individual or body corporate. A secretary is not required (but you will find that in doing business, the office of secretary is helpful).
  8. Office: Each company must maintain a Registered Agent and a Local Registered Office through the services of licensed companies that provide such services.
  9. Filing Requirements: There is no requirement for an IBC to file details related to shareholders and Directors. There is no requirement for filing of audits, accounts and tax return, but accounting records must be maintained.
  10. Meetings: No meetings are required of directors of and IBC. Any meetings held may take place anywhere or by electronic means.
  11. Banking: There are no exchange controls for an IBC.

 


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