There is a wide selection of company types in Seyechelles to suit the needs and preferences of foreign entrepreneurs. The jurisdiction offers a dynamic business environment, making it an attractive destination for offshore companies. Our specialists in company formation in Seychelles will assist interested individuals in selecting the appropriate business type. We will also help with business registration, documentation, tax regulations, and all the necessary administrative processes.
Main company types in Seychelles
There is a variety of company types in Seychelles, suitable for different business needs and purposes. The main business types are the following:
- International Business Companies (IBCs);
- Limited Partnerships;
- Limited Liability Companies;
- Protected Cell Companies (PCCs);
- Special Licence Companies (SLCs);
- Foundations;
- Sole Proprietorship.
Please note that all company types in Seychelles are required to maintain proper accounting records.
Additionally, you can choose to open a branch, subsidiary, or representative office in the country as well. Determining the type of legal structure for your business is the first step of setting up a company in Seychelles.
International Business Company (IBC)
International Business Company (IBC) is the most common type of company in Seychelles and isused as vehicle for offshore operations. It can be structured as private company limited by shares or it can take the form of public company limited by shares.
IBCs are established under the International Business Companies Act 1994. Seychelles IBCs are known for their minimal statutory requirements, making them an attractive choice for international businesses. Some of these requirements include:
- A single director and shareholder – both can be the same entity;
- No residency or nationality restrictions for shareholders;
- No minimum capital;
- Shares can be registered in any currency;
- Meetings can be held remotely.
An advantage of this company type in Seychelles is its confidentiality. Details about the beneficial owners, directors, and shareholders of the company are not part of the public record. The only documents of a Seychelles IBC that are publicly available are the Memorandum and Articles of Association.
Our team will help you set up a Seychelles offshore company.
Limited Partnership in Seychelles (LP)
Limited Partnership (LP) is formed under the Limited Partnership Act 2003. LP is primarily designed to conduct business activities outside the country. This type of company in Seychelles consists of two types of partners:
- General Partners – one or more partners are required, who have unlimited liability for the debts and obligations of the partnership. General partners are responsible for managing the LP’s business and are active in its day-to-day operations;
- Limited Partners – whose liability is generally restricted to the amount of their investment in the LP. Limited partners typically do not participate in the management of the LP’s business.
It is also required that at least one general partner must have Seychelles residency. The general partner can also be an IBC, a domestic company, a CSL, or another LP.
Why open a business in Seychelles?
Opening a company in Seychelles offers ease of incorporation, tax advantages, and strict privacy laws.
One great advantage is that Seychelles operates on a Territorial Tax System, meaning income earned outside the country is not subject to taxation. There is no taxation on capital gains, interest, or stamp duties on business transactions, provided the business does not earn income within the country.
Here are a few details for investors who choose to open a company in the jurisdiction:
- 109 new businesses were registered in Seychelles in the year 2020;
- Seychelles was ranked 100 (out of 190 countries) on the Ease of Doing Business Project by the World Bank in 2019;
- Its score was 61.5 (out of 100) on the Ease of Doing Business Index for Seychelles in 2019.
If you wish to know more about the types of businesses in Seychelles and how to open a company, do not hesitate to contact our team. We are also available for matters related to immigration in Seychelles.