Seychelles IBC - an International Business Company - is popular type of offshore corporation available in Seychelles. Seychelles IBC is designed to engage in international business. IBS are required to maintain accounting records and keep their registries updated.

There are no reporting requirements for Seychelles IBCS as long as the operations of the Company are not performed within Seychelles.

There is no mandatory audit requirement however it is our view as AuditGen that due to the increased AML requirements and procedures of the financial institutions, IBCs may be requested to submit audited financial statements under an internationally acceptable framework such as IFRS.
The formation, tax benefits and general structure of a Seychelles IBC is regulated by the International Business Companies Act, 2016 which replaced the Seychelles International Business Companies Act, 1994.

The Business Tax (Amendment) Act, 2018 introduces Territorial Tax System in Seychelles as of 1st January 2019 following the spirit of amendment in other Jurisdictions to make the Seychelle IBCs companies more attractive.

A Seychelles IBC which does not derive assessable income in Seychelles is not subject to any tax or duty on income or profits. (Article 5.1 of the Seychelles Business Tax (Amendment) Act, 2018).

Seychelles IBC is also exempt from any stamp duties on all transactions relating to its business, in particular on any transfers of property to or by the company, and on any transactions in respect of the shares, debt obligations or other securities of the IBC.

Essentially, a Seychelles IBC is a completely 0% tax offshore Company, as along as some very limited conditions are met regarding the operation of the Company.

The main requirement is that a Seychelles IBC should not pursue business within the territory of the Seychelles (except, of course, it may enter into business with any other Seychelles IBC`s).

For information on the conditions required for Seychelle IBC to be completely tax free contact us at info@auditgency.com or through our social media channels.

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