Seychelles Offshore Company (IBC): A Complete Guide

An offshore company in the Seychelles is an International Business Company (IBC), a private limited liability company incorporated under the International Business Companies Act of 2016 (as amended in 2020, 2024, and 2025). A Seychelles IBC with entirely foreign-source income does not pay income tax, capital gains tax, withholding tax on dividends, interest, or royalties. The tax regime is territorial: only income earned within the Seychelles is taxed.

In this guide you will find everything you need to open an IBC in the Seychelles : corporate structure and minimum requirements, real costs and government fees, territorial tax regime, accounting obligations (bi-annual lodgment from 2021), economic substance, privacy and Beneficial Ownership Act, comparison with IBC Belize , IBC Nevis and Companies in Panama — and the specific risks for Italian tax residents.

Studio Panama Italia has been operating since 2010 (license no. 14465 in Panama) with offices in San Francisco and Miami Beach. We set up IBCs in the Seychelles remotely in 1–3 business days through an authorized Registered Agent, providing comprehensive assistance with incorporation, opening an offshore bank account , annual compliance, and structuring international holding companies.

What is a Seychelles IBC and how does it work?

IBC stands for International Business Company . It is the standard offshore corporate form in Seychelles, governed by the IBC Act of 2016 and subsequently updated by the IBC Amendment Acts of 2020, 2024, and 2025. Seychelles is home to hundreds of thousands of active IBCs and remains one of the most widely used offshore jurisdictions in the world due to its ease of incorporation and low cost.

From 1 January 2019, the Business Tax (Amendment) Act 2018 introduced the territorial tax regime: foreign-source income is exempt from any tax, while local-source income is subject to business tax .

Main uses of a Seychelles IBC:

• International trading: import-export, e-commerce, consulting, digital services for foreign markets
• Holding companies: holding shares in companies in other jurisdictions
• Intellectual Property Management: Licenses, Royalties, and Patents
• Investments and asset management: a vehicle for international investment portfolios
• Estate Planning: Separation of Assets and Inheritance Protection
• Forex and financial trading: operating on international markets with limited liability

Caution — Public Directors: Unlike Belize and Nevis, the names of directors of Seychelles IBCs are registered with the FSA (Financial Services Authority) and may be accessible to certain authorities and financial institutions. If complete director privacy is a priority, consider a Belize IBC or a Nevis IBC , or use a nominee director in the Seychelles.

Seychelles IBC Tax Regime: Real-World Taxation

The Seychelles tax system for IBCs has been territorial since 2019. The basic rule: foreign-source income is exempt from all taxes in the Seychelles. Locally sourced income is subject to a business tax rate of up to 25% for onshore companies. IBCs operating exclusively abroad enjoy full exemption.

In practice, if your Seychelles IBC operates exclusively outside the Seychelles—international trading, holding, e-commerce, or consulting for foreign markets—it pays no tax in the Seychelles. No tax return is required, provided it has no local-source income.

Legal basis: International Business Companies Act 2016, Business Tax (Amendment) Act 2018 (effective 1 January 2019), IBC Amendment Acts 2020, 2024 and 2025. Seychelles operates a self-assessment system: the responsibility for correctly determining local source income lies entirely with the company.

Financial support: when it is required

Since 2021, Seychelles has introduced economic substance requirements for IBCs that are part of a multinational enterprise group ( MNG) and earn foreign-source passive income (dividends, interest, royalties, rent). If the IBC is not part of a MNG, or if it only engages in active trading, it is not subject to active economic substance requirements .

For pure equity holding companies (PEHCs), a "light substance" is sufficient : a registered office in the Seychelles, a registered agent, and statutory requirements. For IBCs forming part of a MNG with passive income, a local office, qualified employees, board meetings in the Seychelles, and proportionate operating expenses are required.

Real costs of opening an IBC in the Seychelles

Government fees (FSA — Financial Services Authority)

Capital: There is no minimum subscribed and paid-up capital requirement. The standard authorized capital is USD 100,000 (or equivalent in another currency), but the amount is freely determinable. There is no requirement for contributions upon incorporation.

Costs with Studio Panama Italia

Procedure for opening an IBC in the Seychelles with Studio Panama Italia

The Seychelles offers one of the fastest incorporation processes in the world. With our service, the process is completed in 1–3 business days from submitting the documentation.

1. Profile analysis and structure selection

   We analyze your situation: type of business, target markets, privacy requirements. We determine whether the Seychelles IBC is the optimal structure or whether another jurisdiction is more suitable. We verify the availability of the company name with the FSA (at least three alternative names are required).

2. Due diligence and KYC documentation

   We collect: passport copy, proof of address ( utility bill ), bank reference, and business questionnaire. Everything is handled digitally—no need to send originals or travel to the Seychelles.

3. Filing of documents and incorporation

   We prepare the Memorandum of Association and Articles of Association, file with the FSA, appoint the Registered Agent and the first director. The FSA issues the Certificate of Incorporation. Timeframe: 1–3 business days.

4. SRC registration and compliance configuration

   We register the IBC with the Seychelles Revenue Commission (SRC) to fulfill tax obligations. We set the deadlines: biannual accounting settlement (H1 by July 31, H2 by January 31), annual license fee, and Economic Substance reporting if applicable.

5. Opening an offshore bank account

   We assist in opening offshore bank accounts with international banks. We provide the required documentation: Certificate of Incorporation, Memorandum & Articles, Certificate of Incumbency (with Apostille), and KYC verification of beneficial owners.

IBC Corporate Structure in the Seychelles: Minimum Requirements

Types of shares issuable: ordinary, preferred, with or without voting rights, with multiple voting rights, redeemable, with or without par value. Bearer shares are not permitted . From 2024, every arrangement with a nominee shareholder must be declared to the Registered Agent and recorded in the Register of Members.

Privacy and confidentiality in the Seychelles

Seychelles offers a good level of privacy, with some differences from other offshore jurisdictions:

• Non-public shareholders: Shareholder details are not made public.
• FSA-registered directors: The names of directors are on the FSA register. They are not accessible to the general public, but are available to authorities, banks, and financial institutions upon request.
• Confidential UBO Register: The Beneficial Ownership Act requires the maintenance of a register of beneficial owners, updated within 14 days of any changes and communicated electronically to the Financial Intelligence Unit (FIU). The register is not public but is accessible to the competent authorities and, starting in 2026, to certain authorized financial institutions for AML due diligence purposes.
• Nominee director and shareholder: permitted, but the actual beneficial owner must be declared privately to the Registered Agent

CRS and information exchange: The Seychelles has joined the OECD's Common Reporting Standard (CRS) for the automatic exchange of tax information. Banking and corporate information can be exchanged with the tax authorities of your country of residence. The Seychelles also received a "Non-Compliant" rating in the OECD Global Forum's 2022 Peer Review, which has led to significantly increased controls—CRS enforcement, SRC survey of multinational groups, and expanded reporting requirements.

IBC Seychelles vs. Belize vs. Nevis vs. Panama: Head-to-Head Comparison

Our recommendation:

• Ultra-fast and lightweight structure, simple trading → IBC Seychelles (1–3 days, minimal costs)
• Maximum privacy for shareholders and directors → IBC Belize (no public data)
• Armored Asset Protection → IBC/LLC Nevis
• Latam regional holding company, local operations → Company in Panama

Annual Compliance: Obligations to Keep Your IBC in Good Standing

1. Annual license fee: Payment of the government fee by the anniversary date of incorporation
2. Bi-annual accounting lodgment (from 2021): The IBC must maintain accounting records at its registered office in Seychelles and submit them to the Registered Agent every 6 months — H1 (Jan-Jun) by 31 July, H2 (Jul-Dec) by 31 January of the following year
3. Financial Summary: Mandatory only for IBCs with annual turnover exceeding USD 3,750,000, to be prepared within 6 months of the end of the financial year
4. Beneficial Owner Register: updated within 14 days of any change and electronically communicated to the FIU
5. Economic Substance Reporting: All IBCs must declare to the Registered Agent whether they fall under the ESA (part of a multinational group). If applicable, they must declare the economic substance measures implemented.
6. Record keeping: Accounting and corporate records must be retained for at least 7 years from the date of the transaction (IBC Amendment Act 2025)

Risk for Italian tax residents: Seychelles IBCs and CFC regulations

Please note: If you are a tax resident in Italy, owning an offshore IBC in the Seychelles entails the same obligations and risks as any offshore company: RW framework, IVAFE (0.2%), CFC regulations (Article 167 of the TUIR — with 0% taxation in the Seychelles, CFC status is always met), and the risk of foreign investiture if managed from Italy.

Compliant solution: The Seychelles IBC becomes legal and tax-efficient if you have transferred your tax residence to a country with territorial taxation — for example with a residence in Panama or a residence in Paraguay .

IBC Seychelles as an international holding company

A Seychelles IBC functions as a holding company thanks to its combination of zero capital gains, zero dividend withholding, and low operating costs. It is particularly suitable as a lightweight holding company for investments in companies in other jurisdictions.

Common facilities:

• IBC Seychelles → LLC USA : offshore holding company with operations in the American market
• IBC Seychelles → SA Panama : holding company with operations in Latin America
• IBC Seychelles + Seychelles Foundation : asset protection with separation of beneficiary and owner

Legal basis and regulatory framework of Seychelles

Frequently Asked Questions about Opening an IBC in the Seychelles (FAQ)

Professional disclaimer: Studio Panama Italia provides offshore company incorporation, registered agent, and banking services. The information on this page is provided for informational purposes only and does not constitute personalized legal, tax, or financial advice. We recommend consulting a qualified accountant in your country of tax residence. The regulations cited (IBC Act 2016, Business Tax Amendment Act 2018, Presidential Decree 917/1986, Legislative Decree 142/2018, and Legislative Decree 167/1990) are provided for informational purposes only and may be subject to legislative changes. Updated: March 2026.