Company Formation in Seychelles

Seychelles is a good destination to set-up your company to cater to the fast growing African market with a large population. YourGlobalPro can assist in Seychelles for Company Formation, Secretarial Compliance, Tax Registration, VAT Reclaim, Document Retrieval and Trademark Registration.

About the Country

The Republic of Seychelles (Seychelles) is an archipelago and country in the Indian Ocean. It is composed of 115 islands, with most of it uninhabited and considered as nature reserves.  The country has the smallest population of any sovereign African country. Its nearest neighbors are Madagascar and Mauritius. The below content will explain you in detail about the requirements for the company formation in Seychelles, know more about the process of trademark registration in Seychelles and understand the Seychelles Legal and Compliance requirements.


Doing Business Introduction

Seychelles economy is comprised of fishing, tourism, coconut and vanilla oil processing, coir rope, boat building, printing, furniture, and beverages. The opening of the Seychelles International Airport boosts tourism as one of the primary industry in the country, alongside industrial fishing. In the recent years, the government of Seychelles has made moves in reducing the dependence on the tourism industry as it is vulnerable to external factors. Seychelles imports 90% of its food consumption, prompting the government to act in improving agricultural self-sufficiency. The public sector, composed of the government and state-owned enterprises, employs 67% of the country’s labor force. As per Doing business report of The World Bank –Seychelles ranks 93 for 2017 survey in terms of ease of doing business.


YourGlobalPro professionals can assist its client with any type of company formation in Seychelles, trademark registration in Seychelles and other recurring services for your business in Seychelles.

Incorporation - Types of Business Entities

Before starting the business, the first decisions to make is to determine what form of business entity to establish. There are several types of entities that can be incorporated in Seychelles are as mentioned below:

·       Offshore Companies (International Business Company)

·       Special License Company (CSL Company)

·       Limited Liability Company

·       Branch Office


Time Frame for Incorporation of Company in Seychelles varies from depending on the type of entity selected and each business type has its own advantages and disadvantages. YourGlobalPro professionals estimate the time required for Seychelles Company formation process to be completed is 19-21 working days.

Benefits of Registration of a Company

Below are the advantages of company formation in Seychelles:

·       IBC companies are fully tax exempt.

·       Special license companies enjoy a reduced corporate tax rate.

·       No nationality restrictions for shareholders and directors

·       100% foreign ownership is allowed

·       Minimal reporting requirements


·       Ease in repatriation of funds for foreign owned companies

Tax Registration and Filing

Under the Business Tax Act, resident and nonresident corporate and non-corporate businesses are subject to business tax on their income derived from the Seychelles.

Corporate Income Tax Rate - Corporations and Trustees - 25% up to SCR 1 Million, 30% after that - Telecommunications, banks, insurance, alcohol and tobacco manufacturers - 25% up to SCR 1 Million, 33% after that - Listed companies under Seychelles foreign exchange - 25% - Companies qualified for reduced tax rates - 0% up to SCR 250,000, 15% after that
Branch Profits Tax Rate 33%
Withholding Taxes: Dividends - 15%
Interest - 0%-33%
Royalties from Patents - 15%
Management Fees - 15%
Value Added Tax 15%
Fiscal Year 1 January to 31 December
Annual Tax Returns Due on 31 March
Monthly Provisional Tax Payments Due by the 21st day of the month following the month

Double Tax Treaty

Double Tax Agreements (DTA) regulates the tax treatment of income or capital gains in situations where the same taxpayer is taxed twice in two countries for the same subject. Seychelles has double tax treaty agreements with about 20 countries.

Trademark registration

The trademark application in Seychelles is filed at the Trademark Registration Division, Department of Legal Affairs.  A certificate of registration shall remain in force for 10 years and can be renewed for 7 years. It takes approximately 12-24 months from first filing to registration


YourGlobalPro professionals are fully equipped to assist you with the trademark registration in Seychelles process for your business in Seychelles. For assistance or advice in the matter of the trade mark registration or intellectual property – please feel free to write or contact us.

Secretarial Compliance

Below are some of the important points in relation to Company Secretarial Compliance in Seychelles:

·       Every company shall in each year hold a general meeting. The period between annual general meetings must not exceed 15 months.

·       Notice of all general meetings shall be given to every shareholder of the company, whether he is entitled to attend and vote at the meeting or not.

·       Every company should record minutes of all proceedings of general meetings, meetings of classes of shareholders and debenture holders, and meetings of the directors and committees of directors of the company to be entered in books kept for that purpose.

·       The minutes of a general meeting or of a meeting of a class of shareholders or debenture holders shall set out in full the declaration made by the chairman in respect of each resolution voted on at the meeting.


·       The books where the minutes of all meetings are recorded should be kept in the registered office of the company.

Accounting Services

All types of business entities, including IBCs, are required maintain proper accounting record. Although among business entity types IBCs are not required to file financial statements, they are still required to keep accounting records that correctly reflects the assets and liabilities, sales and receipts, purchases and expenditures, contracts and other affiliated transactions of the company.


YourGlobalPro professionals assist you with the entire bookkeeping and accounting services to your Seychelles Business Set up as per your business needs including implementation of financial accounting software, accounting records preparation and time to time preparation of budgets, forecasts.

Auditing service

The annual statutory audit is required for limited liability company, special license company and branch offices. Qualified auditors should be a member of a body of accountants or must be authorized by the Registrar of Commercial Companies. YourGlobalPro professionals provide you auditing services for your business as required by your business in Seychelles.


Opening an account in a bank is quite easy in Seychelles. The documentation requirement differs from Bank to Bank and need to be complied for the Bank account opening.

The major banks in Seychelles are Barclays Bank (Seychelles) Ltd., Mauritius Commercial Bank (Seychelles) Ltd. Habib Bank Ltd., Seychelles International Mercantile Banking Corporation Ltd (S.I.M.B.C) – Nouvobanq, Bank of Baroda and Seychelles Commercial Bank. All banks are stable, reliable and offer the same level of services.


YourGlobalPro professionals facilitates all the paper work in relation to banking need and can assist you in opening bank account for your business plan in Seychelles.

Legal and Compliance

In Seychelles, the responsibility of legal compliance is not a one-time affair, but a continuous process. Below is the various Seychelles legal and compliance requirement to be followed by incorporated entities:

·       International Business Companies (IBC) or offshore companies are only allowed to perform operations and act as signatories with entities outside Seychelles.

·       IBCs are required to have a registered address in Seychelles and appointment of local agent with business license granted by the Seychelles International Business Authority.

·       IBCs are not subject to corporate income tax, filing of financial statement and annual audit.

·       IBCs do not have access to Double Tax Treaty arrangements.

·       A company will be considered as a Special License Company (CSL Company) if such is awarded by the Seychelles Financial Services Authority.

·       CLS companies are required to have at least two shareholders of any nationality, 2 individual directors of any nationality and 1 corporate secretary who is a resident in Seychelles.

·       Limited liability companies are required to have at least two shareholders of any nationality, 2 individual resident directors and one resident company secretary.

·       Branches of foreign companies in Seychelles must have 2 agents who are residing in the country.

·       The branch office must have their own bank account. The parent company bears unlimited liability for the branch’s debts.


YourGlobalPro will assist you with Seychelles Legal and compliance requirements.

HR and Employment Law and Immigration / VISA

Below are some of the important points in relation to HR & employment law in Seychelles:

·       Employment contracts may cover continuous employment, fixed term, part-time work or casual work.

·       Paid annual leaves regardless of tenure is 21 days while paid annual sick leave is 30 days with a maximum of 60 days if employee is hospitalized.

·       12 weeks’ maternity leave is granted to female employees

·       Visas are not required for entry into Seychelles, regardless of the nationality of the individual.

·       Visitor’s permit is issued to foreigners arriving in Seychelles for a short stay. This permit is initially valid for the duration of the visit with a maximum of 1 month.  This may be extended to 3 months but with additional fee.

·       A letter to the immigration department is required for business visits

·       Gainful occupation permits are necessary for foreigner wishing to work in Seychelles. This must be issued at least 2 weeks before the employee is to begin working.


·       The holder of a residence permit is not allowed to be gainfully occupied in Seychelles. If an individual wants to work as an employee or engage in a business or profession, he or she must obtain a Gainful Occupation Permit.

Country Statistics

Capital Victoria
Largest City Victoria
Total Area 459 Sq. Km.
Population 100,981,437
Density 186.2 / Sq. Km.
Currency Seychellois Rupee
Government Unitary Presidential Republic
Official Language English French Seychellois Creole
Religion Christianity: 97.2%
Hinduism: 2.4%
Islam: 1.6%
Others: 1.1%
Government Office Hours Mon-Fri (0800-1600 Hrs)
Business Office Hours Mon-Fri (0830-1700 Hrs)
Bank Hours Mon-Sat (0900 to 1500 Hrs)

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