Setting Up a Business in Seychelles: An Expat’s Guide

Published on October 2, 2025 and written by Cyril Jarnias

The Seychelles, a paradise archipelago in the Indian Ocean, is attracting a growing number of expatriate entrepreneurs drawn by its idyllic setting and favorable business environment. This archipelago of 115 islands offers numerous advantages for creating and developing a business, including attractive taxation and simplified administrative procedures. Whether you want to launch an innovative startup, open a retail business, or offer services, the Seychelles can be a prime destination to realize your entrepreneurial project. Here is a comprehensive guide to help you create your business in the Seychelles as an expatriate.

Available Legal Structures in the Seychelles

Before diving into creating your business in the Seychelles, it’s essential to understand the different legal structures available to you. The choice of legal form will have a significant impact on taxation, management, and the development of your activity.

The International Business Company (IBC)

The International Business Company (IBC) is by far the most popular structure among foreign entrepreneurs in the Seychelles. This legal form offers numerous advantages, including:

– Total tax exemption on profits earned abroad – No minimum capital requirement – The possibility of having a single shareholder and a single director – High confidentiality regarding the identity of owners and shareholders – Significant flexibility in management and administration

The IBC is particularly suited for offshore and international activities. It allows you to fully benefit from the Seychelles’ tax advantages while maintaining great freedom of action.

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 enterprises. The Seychellois LLC has the following characteristics:

– A minimum of 2 partners and a maximum of 50 – A minimum share capital of 1,000 Seychellois rupees (approximately 70 euros) – Partners’ liability limited to their contributions – More flexible management than a Public Limited Company

The Public Limited Company (PLC)

Large companies and projects requiring significant capital may opt for the Public Limited Company form. The Seychellois PLC offers:

– The possibility of making a public offering – A more prestigious and credible image – A minimum share capital of 50,000 Seychellois rupees (approximately 3,500 euros) – A board of directors with at least 3 members

The choice of legal structure will depend on your objectives, the nature of your activity, and your development prospects. It is recommended to consult a local legal expert to help you make the best choice based on your specific situation.

Steps to Create Your Business in the Seychelles

Once you have chosen the legal structure suited to your project, here are the main steps to follow to create your business in the Seychelles:

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 (e.g., “bank” or “insurance” without special authorization). You can conduct a preliminary search with the Seychellois company registry to check the availability of your chosen name.

2. Prepare the Incorporation Documents

You will need to draft your company’s articles of association, which define its corporate purpose, capital structure, and operating rules. For an IBC, these documents are generally standardized and can be easily adapted to your specific needs. It is recommended to enlist a local lawyer to ensure all documents comply with Seychellois legislation.

3. Appoint Directors and Shareholders

You will need to provide information on 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. These individuals do not need to be residents of the Seychelles.

4. Choose a Local Registered Agent

Seychellois 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. It is crucial to choose a reliable and experienced agent to ensure the proper functioning of your business.

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. These documents typically include:

– The company’s articles of association – Information on directors and shareholders – A declaration of compliance – Payment of registration fees

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. This document is essential for all your future procedures, including opening a bank account.

The average time to create 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.

Tax Considerations for Expatriate Entrepreneurs in the Seychelles

One of the main attractions of the Seychelles for expatriate entrepreneurs is its advantageous tax regime. Here are the main points to know:

IBC Taxation

International Business Companies (IBCs) benefit from total tax exemption on profits earned abroad. This means that if your activity is purely offshore, you will pay no corporate tax in the Seychelles. However, it is important to note that:

– Income generated locally in the Seychelles is subject to corporate tax at a rate of 25% – IBCs must pay an annual flat fee of 100 USD

Personal Income Tax

For expatriates residing in the Seychelles, personal income tax applies according to a progressive scale ranging from 0% to 30%. The first 8,000 Seychellois rupees of monthly income are tax-exempt.

Tax Treaties

The Seychelles has signed tax treaties with several countries to avoid double taxation. It is important to check if your home country has such a treaty with the Seychelles to optimize your tax situation.

Reporting Obligations

Even if your IBC is tax-exempt, it must maintain accounting records and keep financial records. These documents must be kept up to date and available in case of an audit.

It is highly recommended to consult an international tax expert to structure your activity optimally and ensure you comply with all your tax obligations, both in the Seychelles and in your home country.

Opening a Bank Account for Your Business in the Seychelles

Opening a bank account is a crucial step for the proper functioning of your business in the Seychelles. Here are some important points to consider:

Bank Choice

The Seychelles has a well-developed banking sector, with local and international banks. Among the popular options are:

– Seychelles Commercial Bank – Barclays Bank Seychelles – Bank of Baroda – Mauritius Commercial Bank Seychelles

Choose a bank based on your specific needs, particularly in terms of international services if your activity is primarily offshore.

Required Documents

To open a corporate bank account in the Seychelles, you will generally need to provide:

– Your company’s certificate of incorporation – The company’s articles of association – Proof of identity and residence for all directors and significant shareholders – A business plan detailing your activities and financial projections – Proof of the origin of funds

KYC (Know Your Customer) Procedure

Seychellois banks apply strict Know Your Customer (KYC) procedures to combat money laundering and terrorist financing. Be prepared to provide detailed information about your company, its beneficial owners, and the origin of your funds.

Online Banking Services

Most banks in the Seychelles offer efficient online banking services, which is particularly useful for expatriate entrepreneurs managing their business remotely.

The account opening process can take from a few days to several weeks, depending on the complexity of your structure and the origin of the funds. It is recommended to start this process as early as possible in your business creation journey.

Practical Aspects of Business Management in the Seychelles

Managing a business in the Seychelles as an expatriate involves certain particularities that are important to know:

Visa and Work Permit

If you plan to reside in the Seychelles to manage your business, you will need to obtain a residence and work permit. The Gainful Occupation Permit (GOP) is the most common visa for foreign entrepreneurs. It is typically valid for 2 years and renewable.

Hiring Local Staff

If you plan to hire local staff, be aware that:

– The Seychelles has strict laws on the employment of Seychellois nationals – You will need to obtain work permits for foreign employees – Social security contributions are relatively high (employer 3%, employee 3%)

Accounting and Audit Obligations

Accounting requirements vary depending on the type of company:

– IBCs must maintain financial records but have no obligation to file annual accounts – Local companies must file annual accounts and may be subject to mandatory audits depending on their size

Real Estate Ownership

Foreigners can purchase real estate in the Seychelles, but certain restrictions apply. Purchasing commercial properties generally requires government approval.

Business Network

Developing a local network can be crucial for the success of your business. Participate in events at the Seychelles Chamber of Commerce and join expatriate entrepreneur associations to integrate into the local ecosystem.

Remote management of a business in the Seychelles is entirely possible thanks to modern technologies, but regular presence on-site can be beneficial for developing your activities and business relationships.

Financing and Developing Your Business in the Seychelles

Financing is often a crucial issue for expatriate entrepreneurs. Here are some options to consider for financing and developing your business in the Seychelles:

Self-Financing

For many expatriate entrepreneurs, self-financing is the first source of capital. The Seychelles imposes no minimum capital for IBCs, making it easier to start with limited equity.

Bank Loans

Seychellois banks offer business loans, but conditions may be stricter for offshore companies. Prepare a solid business plan and collateral to increase your chances of obtaining financing.

Private Investors and Business Angels

The network of private investors in the Seychelles is developing. Networking events and online platforms can help you meet potential investors interested in offshore opportunities.

Government Programs

The Seychellois government sometimes offers business support programs, particularly in priority sectors like sustainable tourism or green technologies. Inquire with the Seychelles Investment Bureau (SIB) to learn about available opportunities.

Crowdfunding

Although less developed than in Europe or the United States, crowdfunding can be an interesting option for certain projects, particularly in tourism or ecology.

Strategic Partnerships

Developing partnerships with local or international companies can be an excellent way to finance your growth and access new markets.

Regardless of the financing option chosen, ensure you fully understand the legal and tax implications, both in the Seychelles and in your home country.

Conclusion: The Seychelles, a Paradise for Expatriate Entrepreneurship

Creating and managing a business in the Seychelles as an expatriate offers numerous advantages, including:

– A very attractive tax environment, particularly for offshore activities – Fast and simplified business creation procedures – A stable legal framework recognized internationally – Exceptional quality of life in a paradise setting

However, as with any entrepreneurship project abroad, it is essential to prepare well and surround yourself with local experts to navigate the specificities of the Seychellois context.

Whether you want to launch an innovative startup, develop an international consulting activity, or create a holding structure, the Seychelles offers fertile ground to realize your entrepreneurial ambitions.

By following this guide and relying on available local resources, you will be well-equipped to successfully launch your entrepreneurial adventure in the Seychelles. Remember that the key to success often lies in good preparation, a thorough understanding of the local market, and the ability to adapt to the cultural and economic specificities of your new host country.