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FAQ of Seychelles company registration

[Q] Who is the Registrar of IBC's?
[A] The Seychelles International Business Authority.

[Q] What types of IBC's are allowed?
[A] All IBC's that conduct their businesses outside the Seychelles are allowed, provided that their business is not banking, insurance, re- insurance or trust.

[Q] How do I register an IBC?
[A] You would need to do this through a locally licensed registered agent and RICHFUL may assist on it. You would normally submit the name of the desired IBC to us who would seek a name approval. This is granted instantly. Once the Memorandum & Articles of Association of the company are presented to the Registrar of the IBC and these comply with the law, a certificate of incorporation may be issued. The Registrar's office is automated, which enables incorporation to be done within 24 hours.

[Q] Are non-English language names permitted?
[A] Yes, the name of a company may be expressed in any language but where the name is not in a national language a translation and transliteration of the name in English or French shall be given.

[Q] What are name endings to denote Limited Liability?
[A] "Limited", "Corporation", "Incorporated", "Societe Anonyme", "Public Limited Company", "Berhad", "Proprietary", "Aktiengesellschaft", "Besloten Vennootschap" and others or their abbreviations. Other name endings such as NV, S.A.R.L., LLC, GmbH may also be used.

[Q] How much will it cost to incorporate an IBC?
[A] RICHFUL has its own schedule of fees to incorporate a company and these will depend on what levels of services are required. What is legislated, however, are the incorporation fees for the Registrar.

The annual renewal fee is the same as above. No minimum share capital is required and the share capital may be denominated in any currency.

An important feature of the Seychelles IBC Act is that the incorporation fees are fixed for life. In other words, even if the annual renewal fees are increased in the future, a company incorporated before such an increase came into effect will not be affected adversely. If the fees were decreased, however, the same company would be entitled to pay according to the decrease in fees.

All IBC's are subject to zero taxation in Seychelles.

[Q] Are bearer shares allowed and are corporate directors and shareholders allowed?
[A] Yes.

[Q] Can the company have one director and one shareholder?
[A] Yes.

[Q] Is it necessary to have a Company Secretary and Local Directors or Local Shareholders?
[A] No.

[Q] Are any Local Meetings required?
[A] No. The meetings can be held anywhere and in whatever format the directors consider to be appropriate.

[Q] Is it necessary to keep books and records and file accounts?
[A]  Books and records must be kept for all companies, but these do not have to be filed with the Registrar's office. The Registrar only needs to know the address where such records are kept. There are no annual requirements for auditing accounts and/or filing annual returns.

[Q] Can an IBC operate from an office in the Seychelles, and maintain a foreign exchange bank account in the Seychelles?
[A] Yes, provided that the office is used for making or maintaining professional contact with counsel and attorneys, accountants, bookkeepers, trust companies, management companies, investment advisers or other similar persons carrying out business within the Seychelles or to prepare or maintain books and records of the company within the Seychelles. All IBC's have automatic access to a foreign exchange bank account in the Seychelles should they wish to have one.

[Q] Is confidentiality granted to IBC's and what information is public?
[A] There are no disclosures of the beneficial owners, the Register of Directors and the Register of Shareholders. All proceedings in respect of civil matters involving an IBC are heard by a Judge in Chambers. The Registrar only maintains copies of the Memorandum and Articles of Association as well as copies of Certificates of Incorporation, Good Standing, Change of Name and other such certificates.

[Q] Can an IBC invest in the Seychelles?
[A] Yes, an IBC may hold shares, debt obligations or other securities in a domestic company in the Seychelles. It may buy bonds or other securities issued by the Government of the Seychelles. An IBC may also own or manage a vessel or aircraft registered in the Seychelles.

[Q] Is migration of domicile to and from the Seychelles permitted?
[A] Yes.

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