Seychelles – Procedure of Incorporation

Seychelle IBC’s are incorporated under the regulations set down by the 1994 International Business Companies Act. All IBC’s that conduct their business outside Seychelles are permitted providing that their business is not banking, insurance or trust services. IBC’s must be registered through a locally registered agent.

Procedure of Incorporation:

The procedure for the formation of a Seychelles Offshore Company is fast and efficient. The general process is as follows:

• An application form is completed with details of preferred name and details of beneficial directors and shareholders (nationality, country of residence, address, profession etc)
• A scanned and notarized copy of the passport of the beneficial directors and shareholders is required
• An original proof of residence showing the name and address of the individual. This can be in the form of a utility bill or bank statement and must not be older than 3 months
• A Certificate of Good Standing is required
• At this point Eltoma will issue an invoice for a Seychelles Company Formation. Upon receipt of money we start the incorporation process.
• The application form, associated required personal documents and preferred company name is submitted to the Registrar. The Registrar will reserve and issue a unique company number of the proposed IBC upon which time the company’s Memorandum of Association is prepared and submitted.
• Upon acceptance of the Memorandum the Registrar will incorporate and issue the Company’s Certificate of Incorporation. The Articles of Association must be submitted within 30 days of the date of incorporation.

Company Administration Guidelines

Share Capital:

There are no minimum capital requirements. The following shares are permitted:

• Bearer shares
• Registered shares
• Redeemable shares
• Shares of no par value
• Preference shares
• Shares with or without voting rights

Shares can be denominated in any currency and can be held by residents of the Seychelles.

• Only one shareholder required for incorporation, this can be an individual or corporate body.
• The sole shareholder can act as the director
• Nominee shareholders are permitted

Directors:

• Only one director is required for incorporation, can be an individual or corporate body
• No nationality or residency restrictions exist
• The sole director can act as a sole shareholder
• Nominee shareholders are permitted

Restrictions on Name & Activity:

• It is prohibited to use a name that is identical or similar to an existing name.

Local Requirements:

• There is no requirement for a registered office to be kept in the Seychelles although registered agents must be used to incorporate the company. Appointing a company secretary is not a mandatory requirement

Confidentiality:

• There is a high level of confidentiality with nominees permitted. The Registrar retains copies of the Memorandum and Articles of Association in addition to the Certificate of Good Standing and other certificates. These documents however are not placed on public record.