Setting Up A Company In Seychelles: Practical Guide And Tips

Published on September 29, 2025 and written by Cyril Jarnias

The Seychelles, a paradise archipelago in the Indian Ocean, is not just a dream destination for tourists. This island nation has also become a popular offshore business center for entrepreneurs worldwide. With its advantageous tax regime and flexible regulations, the Seychelles offers a favorable environment for creating and developing international businesses. In this article, we will explore in detail the benefits and procedures for setting up your company in the Seychelles.

The Seychelles: A Tax Haven in the Heart of the Indian Ocean

The Seychelles has established itself as a leading offshore jurisdiction thanks to several major advantages. First, the country offers very attractive taxation for foreign companies, with complete exemption from tax on profits earned internationally. This advantageous tax policy allows businesses to maximize their profits and reinvest more easily.

Additionally, the Seychelles guarantees a high level of confidentiality for owners and shareholders of offshore companies. Information about beneficial owners is not publicly accessible, which can be an advantage for some privacy-conscious entrepreneurs.

Finally, the country’s political and economic stability, along with its legal framework inspired by Anglo-Saxon law, provides a secure environment for foreign investors. The Seychelles has signed numerous investment protection and double taxation avoidance agreements, strengthening its attractiveness for international business.

Available Legal Structures: Make the Right Choice

In the Seychelles, several types of legal structures are available to foreign entrepreneurs. The most popular by far is the International Business Company (IBC).

The International Business Company (IBC)

The IBC is the preferred structure for offshore activities in the Seychelles. It offers numerous advantages:

• Complete tax exemption on profits earned abroad
• No minimum capital requirement
• Possibility to have a single shareholder and a single director
• Confidentiality of owners and shareholders
• Flexibility in management and administration

The Limited Liability Company (LLC)

For entrepreneurs who prefer a more traditional structure, the Seychellois LLC can be an interesting option. It offers limited liability to partners and is well-suited for small and medium-sized businesses.

The Public Limited Company (PLC)

Large companies can opt for the Public Limited Company form, which allows for raising more significant capital and offers a more prestigious image.

Attractive Taxation to Boost Your Business

One of the main advantages of the Seychelles lies in its extremely favorable taxation for offshore companies. IBCs benefit from complete exemption from tax on profits earned abroad. This tax policy allows companies to keep all their profits and reinvest them in their development.

Furthermore, the Seychelles does not apply:

• Capital gains tax
• Inheritance tax
• Wealth tax
• Withholding tax on dividends, interest, and royalties paid abroad

This attractive taxation has helped make the Seychelles one of the most popular offshore jurisdictions in the world. According to statistics from the Seychelles Financial Services Authority (FSA), the number of IBCs registered in the country increased by 15% in 2024, reaching a total of over 200,000 companies.

It’s important to note that this zero taxation only applies to income generated abroad. Companies that make profits within the Seychelles are subject to local corporate tax, which has a rate of 25%.

Setting Up Your Company in the Seychelles: A Simple and Quick Process

Setting up a company in the Seychelles is a relatively simple and quick process, which can generally be completed within a few days. Here are the main steps to follow:

1. Choose a Name for Your Company

Your company name must be unique and not already used by another company in the Seychelles. It must also comply with certain rules, such as not containing reserved terms (for example “bank” or “insurance” without special authorization).

2. Prepare the Incorporation Documents

You will need to draft your company’s articles of association, which define its business purpose, capital structure, and operating rules. For an IBC, these documents are generally standardized and can be easily adapted to your needs.

3. Appoint Directors and Shareholders

You will need to provide information about the company’s directors and shareholders. For an IBC, a single director and a single shareholder are sufficient, and they can be the same person.

4. Choose a Local Registered Agent

Seychelles law requires that every IBC have a local registered agent. This agent will be responsible for the administrative management of your company and will serve as an intermediary with local authorities.

5. Submit the Registration Application

Your registered agent will handle submitting your registration application to the Seychelles Financial Services Authority (FSA), along with all required documents.

6. Obtain the Certificate of Incorporation

Once your application is approved, the FSA will issue your company’s certificate of incorporation, marking its official birth.

The average time to set up an IBC in the Seychelles is 2 to 3 business days, making it one of the fastest jurisdictions in the world for incorporating offshore companies.

The Seychelles vs. Other Tax Havens: An Enlightening Comparison

To better understand the appeal of the Seychelles, it’s interesting to compare them to other popular offshore jurisdictions.

Seychelles vs. British Virgin Islands (BVI)

The BVI long remained the reference for offshore companies. However, the Seychelles offer similar advantages at a generally lower cost. Moreover, the Seychelles have the advantage of being less stigmatized than the BVI in certain business circles.

Seychelles vs. Hong Kong

Hong Kong is a jurisdiction appreciated for its proximity to the Chinese market. However, the Seychelles offer more advantageous taxation and simpler business creation procedures. The corporate tax rate in Hong Kong is 16.5%, compared to 0% for IBCs in the Seychelles.

Seychelles vs. Panama

Panama is known for its canal and offshore companies. However, the Seychelles offer stronger confidentiality and generally lower annual maintenance costs. Moreover, Panama’s reputation was tarnished by the “Panama Papers,” which is not the case for the Seychelles.

According to a comparative study conducted by consulting firm KPMG in 2024, the Seychelles rank among the top 5 most attractive offshore jurisdictions in the world, surpassing many historical competitors.

Social Obligations: A Light Framework for Offshore Companies

One of the major advantages of offshore companies in the Seychelles is the lightness of social obligations. Indeed, for IBCs that do not employ local staff, the constraints are minimal.

No Social Security Contributions for Non-Resident Employees

IBCs that only employ staff abroad do not have to pay social security contributions in the Seychelles. This allows for great flexibility in human resource management and a significant reduction in costs.

No Work Visa Requirement for Non-Resident Directors

Non-resident directors and shareholders of an IBC do not need to obtain a work visa to manage their company remotely. This greatly simplifies the international management of the business.

Flexibility in Holding Meetings

IBCs benefit from great flexibility in organizing their directors’ and shareholders’ meetings. These meetings can be held anywhere in the world, including via teleconference.

Streamlined Accounting Obligations

Although IBCs must maintain accounting records, there is no obligation to file annual accounts with the Seychelles authorities. This administrative simplification is a major advantage for many entrepreneurs.

It’s important to note that these advantages mainly apply to offshore companies that do not have local activity in the Seychelles. Companies that employ local staff or conduct business within Seychelles territory are subject to the country’s standard social and tax obligations.

Opening a Bank Account for Your Company: Key Steps

Opening a bank account is a crucial step for any offshore company. In the Seychelles, the process can be a bit more complex than setting up the company itself, due to international anti-money laundering regulations.

1. Choose the Right Bank

The main banks in the Seychelles that accept IBC accounts are Nouvobanq, Bank of Ceylon, and BMI Offshore Bank. It’s also possible to open an account with a foreign bank, which can offer more flexibility for international transactions.

2. Prepare the Necessary Documents

• Your company’s certificate of incorporation
• The company’s articles of association
• Proof of identity and residence for all directors and significant shareholders
• A detailed business plan explaining the company’s activities
• The source of funds to be deposited into the account

3. Go Through the Due Diligence Process

The bank will conduct a thorough verification of your company and its beneficial owners. This process can take from a few days to several weeks, depending on the complexity of your structure and the origin of the funds.

4. Make an Initial Deposit

Once your application is approved, you will need to make an initial deposit. The minimum amount varies by bank but is generally between $5,000 and $10,000.

5. Activate Online Banking Services

Most banks offer efficient online banking services, allowing you to manage your account remotely.

It’s important to note that opening a bank account for an offshore company has become more difficult in recent years, due to the strengthening of international regulations. According to a World Bank study, the rejection rate for opening accounts for offshore companies increased by 30% between 2020 and 2024. Therefore, it’s crucial to properly prepare your application and choose a bank suited to your profile.

Promising Business Sectors in the Seychelles

Although offshore companies in the Seychelles can theoretically operate in all business areas (except those requiring a special license), some sectors prove particularly well-suited to this jurisdiction.

International Trade

The Seychelles are ideally located to serve as a hub for trade between Africa, Asia, and the Middle East. Many international trading companies choose to establish themselves there to benefit from the advantageous taxation and strategic geographical position.

Financial Services

The financial services sector is booming in the Seychelles. Wealth management companies, investment funds, and online trading companies find a favorable environment for their development there.

E-commerce and Online Services

The dematerialized nature of these activities makes them particularly suitable for an offshore structure. The Seychelles offers a favorable tax and regulatory framework for digital businesses.

Intellectual Property

The Seychelles are increasingly used as a jurisdiction for holding and managing intellectual property rights, particularly in the entertainment and new technology sectors.

Consulting and Business Services

Many consulting, marketing, or business services companies choose the Seychelles as a base for their international activities.

According to FSA data, the international trade and financial services sectors alone accounted for over 60% of new IBCs created in the Seychelles in 2024. This trend reflects the country’s growing attractiveness for these high-value-added activities.

Hiring Staff for Your Seychellois Company: Options Available to You

Although many offshore companies in the Seychelles operate without local employees, some businesses may need to hire staff, whether locally or internationally. Here are the main options available to you:

Local Recruitment

If your company needs a physical presence in the Seychelles, local recruitment can be an option. The Seychellois job market is relatively small, with a workforce of about 50,000 people. The main advantages of local recruitment are:

• Good knowledge of the local environment
• Relatively moderate wage costs compared to international standards
• The possibility to benefit from government incentives for local employment

However, local recruitment involves complying with Seychellois labor law and paying local social security contributions.

International Recruitment

For positions requiring specific skills, international recruitment can be a solution. The Seychelles offer simplified procedures for obtaining work permits for foreign employees of offshore companies. The advantages of international recruitment include:

• Access to a larger talent pool
• The ability to hire experts in specific fields
• Greater flexibility in human resource management

Outsourcing and Freelancing

An increasingly popular option for offshore companies is the use of outsourcing or freelancers. This approach offers great flexibility and helps reduce fixed costs. According to a Deloitte study, 70% of offshore companies in the Seychelles use freelancers or subcontractors for at least part of their activities.

Remote Work

With the rise of remote work, many offshore companies in the Seychelles opt for a fully remote team. This approach allows for recruiting talent from around the world while minimizing infrastructure costs.

Whatever option you choose, it’s important to fully understand the legal and tax implications of recruitment for your offshore company. It’s recommended to consult an expert in international labor law to ensure you comply with all applicable regulations.

Conclusion: The Seychelles, A Strategic Choice for Your Offshore Company

The Seychelles are establishing themselves as a prime destination for setting up offshore companies. With its attractive taxation, flexible regulations, and simplified procedures, this Indian Ocean archipelago offers an environment conducive to the development of international business.

Key advantages of the Seychelles include complete tax exemption on foreign profits, enhanced confidentiality, and competitive setup and maintenance costs. These assets, combined with the country’s political and economic stability, make it an attractive option for entrepreneurs and investors worldwide.

However, it’s important to note that setting up an offshore company should be part of a well-thought-out overall strategy. It requires a thorough understanding of the legal, tax, and operational implications. It is therefore crucial to surround yourself with experienced professionals to guide you through this process.

Ultimately, the Seychelles offer a solid platform for businesses seeking to optimize their international structure, provided they strictly comply with local and international regulations.