🇸🇨 Seychelles (IBC)
Seychelles International Business Companies (IBCs) are subject to territorial taxation, with generally no tax on foreign-sourced income, and are established quickly and at low cost. However, since the Economic Substance Act (2021), IBCs that are part of multinational groups or earn foreign passive income without sufficient substance may be subject to taxation in Seychelles. Compliance with UBO and CRS is required. Rules are tightening and may be adjusted; please refer to the latest announcements from Seychelles authorities (FSA).
Seychelles (IBC) Key conditions at a glance
| Common Company Types | IBC (International Business Company) |
|---|---|
| Corporate income tax | Territorial taxation; foreign-sourced income generally taxed at 0%; certain passive income may be taxable under specific circumstances. |
| Estimated establishment costs | Approximately US$300–US$1,000 |
| Annual maintenance | Annual fee, registered agent, registered address; accounting records must be maintained. |
| Substance/Reporting Requirements | Economic substance (for MNE/passive income), UBO registration, CRS; accounting records required. |
| Suitable for purpose | Holding, trade, asset holding |
| Bank account opening | Offshore account opening is becoming increasingly difficult, requiring comprehensive KYC. |
| Recent Changes | Implementation of economic substance laws, retention of accounting records, and strengthening of UBO requirements. |
| EU tax list status | It was removed from the EU grey list (Annex II) of non-cooperative jurisdictions for tax purposes on 17 February 2026, owing to its “Largely Compliant” rating for Exchange of Information on Request (EOIR) (Global Forum peer review report, January 2026). |
Seychelles (IBC) Key considerations
- Territorial tax exemption is conditional; multinational groups or passive income with insufficient substance may be subject to taxation.
- Accounting records must be maintained or accessible in Seychelles; violations may result in fines or removal.
- Home country CFC/substance taxation rules may still apply; should not be considered as overall tax exemption.
- The Seychelles was placed on the EU tax blacklist in 2023, moved to the grey list in 2024, and was formally removed in February 2026; however, removal does not exempt it from existing compliance requirements such as economic substance and UBO. The latest announcements from the Seychelles authorities (FSA) and the EU should prevail.
Seychelles (IBC) Application process
- Establish an IBC through a licensed registered agent.
- Register UBO and establish accounting record mechanisms.
- Evaluate whether activities fall within the economic substance scope and arrange compliance.
- Pay the annual fee annually and maintain the registered agent.
Seychelles (IBC) Frequently Asked Questions
Is a Seychelles IBC completely tax-exempt?
Foreign-sourced income is generally not taxed in Seychelles, but if part of a multinational group or earning passive income without sufficient substance, such income may be taxed, and home country rules still apply, requiring case-by-case assessment.
Can Seychelles companies still maintain complete confidentiality?
There are existing UBO registration and CRS information exchange requirements, reducing confidentiality compared to the past; current regulations should be understood to avoid outdated information.
Is the Seychelles still on the EU tax blacklist/grey list?
No. The Seychelles was added to the EU blacklist of non-cooperative jurisdictions for tax purposes in 2023, moved to the grey list for observation in 2024, and was formally removed from the grey list on 17 February 2026 after receiving a “Largely Compliant” rating for Exchange of Information on Request (EOIR). Removal reflects an improved tax transparency rating but does not affect existing compliance obligations such as economic substance and UBO registration.
How can I verify whether the company incorporation, tax, and compliance regulations for this jurisdiction are up to date?
Tax systems, annual fees, economic substance, and UBO (Ultimate Beneficial Owner) rules in each jurisdiction are frequently amended. Recommendations: ① Check official company registry or tax authority announcements of the jurisdiction (official source links are provided at the bottom of this page); ② Verify the data date indicated on this page; ③ Understand post-incorporation annual filing, accounting, audit, and economic substance obligations—do not focus solely on incorporation fees; ④ Stay alert to agent claims that exaggerate tax savings or suggest no filing or compliance obligations after incorporation, and consult qualified tax/legal professionals for major decisions. This site provides a neutral compilation of public information; always refer to the latest official announcements.
Where can I look up the official company registry for Seychelles (IBC), and is it public?
| Official registry | Financial Services Authority (FSA Seychelles) |
|---|---|
| Can the public search the register? | 🔒 No public online search (must go through agent or written application) |
| Notes | International Business Company (IBC) records are not publicly searchable; must go through a registered agent. |
| Official search | Go to official registry search ↗ |
The above is a compilation of public information from official company registration authorities; public search rules and beneficial ownership disclosures are subject to change, so please refer to the latest official regulations. See the comparison table of registration transparency across jurisdictions →
Regarding Seychelles (IBC), people often ask
Official sources: Financial Services Authority (FSA) Seychelles · Data date: 2026-08-17.This page is a neutral compilation of public data, for reference only, not tax/legal advice; options are subject to the latest official announcements.