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Advantages of the Seychelles International Business Company (IBC)

Update Date:2015-10-5 8:17:08 Source:Tannet (Malaysia) Sdn Bhd Views:610

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The main advantages are lower cost, higher availability of names, no requirement to prepare financial statements, privacy, and fast order completion and delivery.

The directors of a Seychelles IBCs must keep accounting records like bank statements, invoices, receipts, and contracts for material (important) transactions but they do not have to prepare financial statements (profit and loss, balance sheet and cash flow statements). There is no requirement to file such statements and there is no requirement to have such statements audited either.

Interestingly Seychelles has managed to remain on the OECD white-list and to pass Phase I of the Global Forum Peer Review while retaining all the attractive features of its International Business Company offering. Largely this is because a Seychelles IBC does not offer any advantage to a foreigner over a Seychelles resident. A Seychelles resident can own and manage a Seychelles IBC and benefit from all the advantages of a Seychelles IBC including tax exemptions.

Seychelles is not a dependency of Great Britain and the British Crown, nor is it a dependency of an EU member state. This means it has more freedom to make its own rules particularly in regards to public filings and beneficial owner requirements.


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