Seychelles company registration

DOING BUSINESS IN SEYCHELLES IN 2024

Since 2003, Healy Consultants Group assists our multi-national Clients’ with business set up in Seychelles including i) Seychelles company registration ii) Seychelles company regulatory license approvals iii) international business banking solutions for Seychelles companies iv) Seychelles economic substance requirements.

Choose Healy Consultants for your Seychelles company formation and special company license needs* and benefit from our customized services, expertise and exceptional support.

Contact us today to explore how we can support your business.

Seychelles Company Formation Services: expand and manage your global business in a credible international financial centre

Seychelles company formation guide: Table of contents

Advantages and disadvantages of establishing Seychelles companies

Advantages of establishing Seychelles companies

  1. Seychelles is a member of the Asia-Africa growth corridor.
  2. A Seychelles offshore company (IBC) is attractive as:
    • The Seychelles offshore entity is exempt from all taxes on income derived outside of the Seychelles.
    • Seychelles company incorporation may be completed within a week.
    • Corporate directors are allowed.
    • Details of shareholders and beneficial owners are not subject to public disclosure.
    • No annual statutory reporting is required. Therefore, the annual company running costs are low.
    • Foreign owners have complete control over the offshore company.
  3. A Seychelles company special license (CSL) is attractive because:
    • The Seychelles CSL entity is a suitable vehicle to hold African subsidiaries.
    • It has access to double taxation treaties with 28 countries including China, South Africa and Indonesia.
    • Relatively quicker to secure special licenses in the regulated sectors.
    • There are no controls on foreign currency repatriation.
    • The Government company registration and licencing fees are low.
    • Flat tax rate of 1.5% on worldwide income.
    • The Seychelles CSL is exempted from paying withholding tax, capital gains tax and stamp duty.
  4. A Seychelles International Free Trade Zone (ITZ) licensed company enjoys a tax-free status. It also has access to foreigner work and residency permits.

Disadvantages of establishing Seychelles companies

  1. Lack of clear regulations for virtual assets and related businesses in Seychelles.
  2. Global banks view Seychelles as a region with lenient taxation, making corporate bank account opening challenging.
  3. Companies in Seychelles struggle to get resources and transport goods to Africa and Asia.
  4. According to Transparency International’s 2023 Corruption Perceptions Index, Seychelles scores 71 out of 100 with room for improvement.

Types of Seychelles company structures

Seychelles International Business Company (IBC)

What is a Seychelles IBC?

  • Seychelles International Business Company (IBC) is the most popular and simplest entity type for setting up an offshore company in the Seychelles.
  • This entity is regulated by the Seychelles FSA under the International Business Companies Act.

Ideal uses of Seychelles IBC structure

  • Seychelles IBCs have wide variety of uses. This company structure is primarily used for international trading and for entities requiring high level of privacy.

Essential regulatory requirements for setting up Seychelles IBCs

  • Seychelles IBCs can be incorporated only through a licensed local corporate service provider.
  • Seychelles IBCs require at least one director and one shareholder for the entity. A Corporate can be assigned as a director of Seychelles IBC.
  • The minimum paid up share capital required for Seychelles IBC is US$ 1

Seychelles IBC registration process

  • Step 1: Confirming the company name and structure and reserving the company name.
  • Step 2: Completing the Seychelles IBC application form.
  • Step 3: Preparing the documents required for the company registration. This includes information related to the shareholders, directors, share capital, business plans, cover letter, corporate documents and other relevant records.
  • Step 4: Paying the application fee and submitting the application to the Seychelles Financial Services authority through the local corporate services provider.
  • Step 5: Obtaining the company incorporation kit which includes certificate of incorporation and other corporate documents.
  • Step 6: Registering with Seychelles Revenue Commission to obtain tax identification number.
  • Step 7: Opening at least two multi-currency corporate bank accounts including a Seychelles corporate bank account and an overseas segregated account.
  • Step 8: Securing final approval from the FSA to legally conduct business.

Seychelles IBC tax and compliance considerations

  • No taxation on foreign income derived by the Seychelles IBCs. Domestic business tax of 15% to 25% is applicable for income derived from local operations.
  • Seychelles IBCs do not have access to double taxation avoidance agreements of Seychelles.
  • Seychelles IBCs are required to keep accounting records in the local registered office.
  • The IBCs are not required to annually file accounts and income tax returns if the income derived is from foreign sources.
  • A Seychelles IBC can be converted into a Seychelles CSL or Seychelles PCC.
  • A Seychelles IBC cannot operate in the banking, insurance, investment, corporate services, fintech and gambling sectors.
  • Seychelles IBCs should satisfy the Economic Substance requirements (ESR).

Seychelles CSL (Company Special License)

What is a Seychelles CSL?

  • A CSL is a domestic company in Seychelles but receives tax concessions under the Seychelles Companies Special Licenses Act.
  • It is perceived as an alternative to the Seychelles IBC and as a low tax company formation solution available in Seychelles.

Ideal uses of Seychelles CSL structure

  • Holding company for international subsidiaries.
  • Investment services companies.
  • Financial and insurance services companies.
  • Intellectual property holding companies.
  • Franchise companies under the Seychelles ITZ license.
  • Marketing companies.
  • Human resources companies.
  • Headquarters companies.
  • International trading companies.

Essential regulatory requirements for setting up a Seychelles CSL

  • A Seychelles CSL cannot have a Corporate as a director of the company.
  • A Seychelles CSL should have a local corporate service provider (CSP) as a company secretary.
  • Beneficial owners of the Seychelles CSL should be disclosed to the registrar and to the local corporate service provider.
  • Minimum paid up capital should be at least 10% of the authorized capital.
  • A Seychelles CSL should obtain special licenses from the Seychelles FSA separately to engage in regulated activities.

Seychelles CSL setup process

  • Step 1: Confirming the company name and structure. Reserving the company name.
  • Step 2: Filling the Seychelles CSL application form.
  • Step 3: Preparing the documents required for the company setup. This includes information documents related to the shareholders, directors, secretaries, auditors and legal counsel, share capital, drafting business plan, cover letter, corporate documents and other relevant records.
  • Step 4: Preparing the documents required for obtaining special licenses if the entity must do business in regulated activities.
  • Step 5: Paying the application fee, license fee and submitting the application to the Seychelles Financial Services authority.
  • Step 6: Obtaining certificate of incorporation and appropriate special license from the Seychelles FSA.
  • Step 7: Registering with Seychelles Revenue Commission to obtain tax identification number.
  • Step 8: Opening at least two multi-currency corporate bank accounts including a Seychelles corporate bank account and an overseas segregated account.
  • Step 9: Securing final approval from the FSA to legally conduct business.

Seychelles CSL tax and compliance considerations

  • The Seychelles CSL has a flat corporation tax of 1.5% on its worldwide taxable income.
  • Access to the Seychelles’ expanding network of double taxation agreements is possible only after obtaining certificate of residence from the Seychelles Revenue Commission.
  • A Seychelles CSL holding company can legally minimize withholding tax on profits repatriated from international subsidiaries in Africa, China or Indonesia.
  • A Seychelles CSL is exempt from stamp duty on share transfers and capital gains tax.
  • All Seychelles CSL should show local economic substance including local management and control. This can be achieved by having a Seychelles resident director and registered office address for the company.
  • Bookkeeping should be done by a local accountant. This includes preparing annual accounting records, financial summary and filing annual corporation tax return.
  • An existing Seychelles IBC can be converted to a Seychelles CSL.

The Seychelles protected cell company (PCC)

What is a Seychelles PCC?

  • A Seychelles PCC is a domestic company formed under the Seychelles Protected Cell Companies Act.
  • According to the Act, a Seychelles PCC is permitted to segregate its assets into multiple cells identified by a unique name within the company with the purpose of isolating and protecting assets underlying in each cell.

Ideal uses of Seychelles Protected Cell Company?

  • Insurance companies
  • Mutual funds & hedge funds
  • Asset holding and structured finance companies.

Essential regulatory requirements for setting up Seychelles PCC

  • Seychelles PCC requires at least two individual directors. Companies cannot be appointed as directors.
  • Seychelles PCC requires a company secretary. The licensed international corporate service provider (ICSP) should act as a secretary and is responsible for the management of the company.

Seychelles PCC tax and compliance considerations

  • A Seychelles PCC does not have to pay corporate tax on income derived from foreign operations.
  • Taxation on income earned through domestic operations is applicable at the prevailing domestic business tax rate.
  • The protected cell company should conduct annual audit, file annual returns and renew the company registration every year.
  • A Seychelles CSL is exempt from stamp duty on share transfers and capital gains tax.
  • Seychelles PCCs are exempted from stamp duty on all transactions related to the business.
  • Seychelles PCCs are exempted from exchange control Act.
  • Various other exemptions and incentives are applicable for Seychelles PCCs depending on respective licensed activities.
  • An existing Seychelles IBC can be converted to a Seychelles PCC.

Seychelles Limited Partnership (LP)

What is a Seychelles Limited Partnership?

  • A Seychelles limited partnership (LP) is a partnership agreement between multiple parties formed under the Seychelles Limited Partnerships Act.
  • This partnership arrangement requires at least one general partner and one or more limited partners.
  • The general partners are responsible for managing the venture and have unlimited liability for debts and obligations of the partnership. The limited partners’ liability is bound to their investment amount in the partnership venture.
  • A corporate is eligible to be a general partner and a limited partner. A limited partner can also be a foreigner.

Ideal uses of Seychelles Limited Partnership

  • Private equity fund.
  • Joint ventures.
  • Investment fund firms.
  • Estate planning.

Essential regulatory requirements of Seychelles Limited Partnership

  • Limited Partnerships should not conduct business inside Seychelles
  • Seychelles limited partnership requires a registered agent. A licensed international corporate service provider (ICSP) should act as an agent.
  • At least one general partner must be a Seychelles IBC or a Company issued with a special license (CSL).
  • Every limited partnership should have a registered office in Seychelles.
  • Every limited partnership should include the words “Limited Partnership” or “L.P.” or “LP” in the company name.
  • The limited partner in this business should not take part in the conduct of the business.

Seychelles LP tax and compliance considerations

  • By 31st January of every year the general partner in the limited partnership should file returns.
  • A limited partnership or a partner is exempted from tax, duty on income or profits derived from the partnership.
  • Seychelles limited partnerships are exempted from exchange control Act.
  • Equipment imported by the limited partnership for office use is exempted from tax.
  • Work permit fee is exempted for the limited partnership and its expat employees.
  • Social Security Act is not applicable if limited partnership is an employer employing people in its office.
  • All the above exceptions will remain in force for twenty years from the date of partnership registration and shall continue unless stated by the laws otherwise.
  • The general partner in this business should maintain proper accounting records and retain them for 7 years from the date of transaction completion.
  • The general partner is obliged to share complete and true information on the state of the business and finance conditions with the limited partners if the business is conducted in contrary to the partnership agreement.

Seychelles International Trust

What is a Seychelles international trust?

  • Seychelles International Trust is an asset protection legal arrangement between the owner of the assets and the administrator of those assets under a deed.
  • Seychelles Trust is registered by the FSA under the Trusts Act.

Ideal uses of a Seychelles Trust

A Seychelles foreign trust is suitable for any individual / professional who wants to:

  • Hold the shares of Seychelles IBC.
  • Protect wealth against litigation, regulators, government and tax authorities.
  • Manage family and estate.
  • Hold will, testament, investments, physical and virtual assets, offshore bank accounts etc.

Essential regulatory requirements for setting up Seychelles Trust

  • The trust deed should clearly outline the purpose and terms and conditions of the trust. The deed should also include information about the settlor, trustee and beneficiaries and the assets of the trust.
  • The settlor of the Seychelles International Trust cannot be a Seychelles resident. The settler also cannot be the sole beneficiary of the trust.
  • A Seychelles trust should not carry out any unlawful or immoral activity.

Seychelles International Trust tax and compliance considerations

  • Seychelles International Trust is exempt from taxation on all income including the income generated by the underlying shares of the Seychelles IBC.
  • Seychelles Trust is also exempt from taxation on all assets, capital gains and stamp duties.
  • Seychelles Trust cannot hold immovable property in Seychelles as an asset. The Trust also cannot hold securities from any foreign entity including another international trust.
  • Seychelles Trust requires special approval from the FSA to hold Seychelles properties, invest in Seychelles securities.
  • The trustee of a Seychelles International Trust should hold a valid trustee license issued by the FSA.
  • The trustee should keep accurate accounting records on all transactions conducted by the trust on a bi-annual basis for seven years from the date of the transaction.
  • The trustee should prepare a financial summary of the trust within six months of the end of a financial year.
  • The trustee should keep a trust register containing complete information about all beneficial owners including the trustee, beneficiaries, settlor, protector, and about the enforcer and service providers for the trust.

Comparison of popular Seychelles company solutions

Compare popular Seychelles company solutions Offshore company Holding company Cryptocurrency company
Also known as IBC CSL Securities Trading License
Best use of company? International trading Global subsidiaries Cryptocurrency business
Annual corporation tax liability 0% 1.5% 1.5%
How soon can you legally conduct business overseas One week One month Three months
FSA regulatory licence required? No Yes Yes
Must register with the Government tax authority No Yes Yes
Must have a small office in the Seychelles? No Yes Yes
Must employ staff in the Seychelles? Yes Yes Yes
Must prepare annual financial statements Yes Yes Yes
Minimum paid-up share capital? US$1 US$1,000 US$50,000
Access to international double taxation treaties No Yes Yes
Considered a tax resident entity? No Yes Yes
Independent statutory annual audit required No Yes Yes
Annual corporation tax return? No Yes Yes
How long to secure multi-currency corporate bank account numbers? Three months Three months Three months
Limited liability entity? Yes Yes Yes
Minimum number of directors? One One Two
Minimum number of shareholders? One One Two
Average total engagement period? Four months Four months Four months

In-demand Seychelles company special licenses

Seychelles Securities Dealers license (SDL)

What is this SDL license?

  • The Seychelles Securities Dealer License (SDL) allows businesses to trade securities either as a principal (proprietary trading) or as an agent (on behalf of its customers), including foreign exchange.
  • The SDL is also known as a Seychelles forex license, Seychelles brokerage license.

Seychelles Securities Dealer License is ideal for?

  • The SDL allows businesses to engage in international securities brokerage services, securities investment counselling, investment portfolio management, investment analysis and forecasting.
  • “Securities” means equities, derivatives, commodities, metals, currencies, warrants, debt instruments.

Essential regulatory requirements for a Seychelles SDL company

  • Minimum paid-up share capital of US$50,000 to be held in a bank account in the Seychelles.
  • A minimum of two directors, including one resident director
  • A Seychelles trust should not carry out any unlawful or immoral activity.
  • A minimum of two shareholders of any nationality.
  • An approved representative office in the Seychelles, which employs a qualified securities dealer representative with an authorised licence under and a local compliance officer (MLRO).
  • Securing a professional Indemnity insurance certificate for the licence that is suitable for the company’s scope and nature.
  • Prior to launch of operations, setting up physical office premises in the Seychelles and retaining key staff.

The CSL company setup & securities dealer licensing process

  • Step 1: Prepare a business plan including corporate structure, transaction flow, third-party vendors, customer base, market information, marketing strategy, financial forecasting.
  • Step 2: Register a tax resident Seychelles Company Special Licence (CSL) entity
  • Step 3: Preparing for SDL application. This includes completing various application and questionnaire forms, paying relevant processing fee, latest audited financial statements, proof of funds, proof of office space, individual and company proof documents, business plans, cover letter, AML & CFT compliance manuals etc.
  • Step 4: Secure regulatory licence approval from the FSA
  • Step 5: Register the business with the Seychelles Revenue Commission and obtain a tax identification number.
  • Step 6: Open at least two multi-currency corporate bank accounts including a Seychelles corporate bank account and an overseas segregated account.
  • Step 7: Securing final approval from the FSA to legally conduct business.

Seychelles SDL company tax and compliance considerations

  • Corporate tax in Seychelles is levied on an SDL company at 1.5% of worldwide income.
  • Tax returns must be filed by 31 December in Seychelles, or a 20% per annum penalty will be imposed on the debt.
  • The SDL company must have its financial statements audited annually by an auditor according to International Financial Reporting Standards.
  • Within four months of the end of each financial year, the licenced security dealer must submit annual financial statements to the FSA.
  • The SDL company must comply with the insurance requirement under section 73 of FSA.

Regulatory license exemption for Seychelles SDL company

Businesses may be exempted from obtaining a Seychelles securities dealer licence if:

  • It is a member of a recognised foreign stock exchange including the Seychelles stock exchange or
  • Has a stable financial position and a valid overseas securities licence or other financial services permits.

The Seychelles International Trade Zone (ITZ) license

What is this ITZ license?

  • The Seychelles ITZ company is licensed and regulated by the FSA. It enables foreign companies to conduct business in tax free zone within Seychelles.

Seychelles ITZ license is ideal for?

  • Seychelles ITZ companies are ideal for manufacturing, processing, light-assembling and exporting goods & services from Seychelles to foreign markets.

Essential regulatory requirements for a Seychelles ITZ company

  • Setting up a Special License Company and applying for an appropriate international trade zone license.
  • License application requirements include application form, relevant processing fee, proof of funds, employment contracts, business plans, cover letter, individual and company proof documents.
  • A minimum level of investment is required depending on license application.
    • Minimum investment for Manufacturing license: US$ 15,000
    • Minimum investment for Processing license: US$ 15,000
    • Minimum investment for Light-assembly license: US$ 5,000
    • Minimum investment for Redistribution license: US$ 5,000
    • Minimum investment for Export Services license: US$ 10,000

Seychelles ITZ company tax and compliance considerations?

  • Seychelles ITZ companies are taxed at the business tax rate (15% on the first SCR 1 million, 25% thereafter) if the operations are conducted in Seychelles.
  • The Seychelles ITZ licensed company is required to keep records of information related to imports & exports, audited financial statements, bill of entry endorsement and general employment records.
  • Seychelles ITZ license needs regular renewal. The validity of licenses will be specified when it is granted.
  • ITZ companies are not reporting entities under the AML/CFT Act, so the appointment of a Compliance officer is not required.
  • Economic substance requirements should be met annually.

Incentives offered by the Seychelles ITZ

  • 100% foreign ownership.
  • 0% import duty and 0% VAT for imported goods.
  • Allowed to hire foreign workers when the required skills are absent in Seychelles.
  • Exemption from work permit fee, stamp duty , immovable property tax.
  • With prior approval from the FSA the Seychelles ITZ company can sell their goods and services covered under the license in the domestic market.
  • The new ITZ license fee and renewal fee is fixed for the lifetime of the company.

Virtual Asset License

  • The Seychelles regulatory is working on a legislative framework to regulate companies dealing with virtual assets license. It is expected to be finalized by early 2024.
  • Currently a Seychelles cryptocurrency license may be obtained in the form of a Securities Dealers license under the Securities Act.
  • Applying for the cryptocurrency license in Seychelles for startups includes complying with the Financial Services Authority (FSA) guidelines for digital assets businesses, which include Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) regulations.

Seychelles company accounting and tax considerations

  • For Seychelles offshore companies, income earned outside the Seychelles territory is not subject to taxation.
  • Majority of Seychelles entities are legally exempt of capital gains tax and stamp duties on business transactions.
  • A company is resident in Seychelles if it is managed and controlled by Seychelles residents. This is important for Seychelles CSL & PCC.
  • Seychelles domestic company is taxed at 15% on the first SCR 1 million and 25% thereafter.
  • 15% standard rate Value Added Tax (VAT) is levied on the supply & import of goods and services in Seychelles.
  • All Seychelles companies are required to maintain a book of accounting records.
  • Annual returns filing is required for Seychelles CSL and Seychelles PCC.

Seychelles company legal and compliance considerations

  • The Seychelles’ legal system is based on the English common law, French civil law and customary law
  • The name of an IBC must end with a word or phrase or the abbreviation thereof which indicates limited liability. Examples are: “Ltd”, “Limited”, “Corp”, “Corporation”, S.A.”, “Societe Anonyme”
  • A Seychelles IBC cannot conduct banking and insurance business, fund or trust management business, collective investment schemes business, investment advice business, any other financial or insurance industry-related business.
  • A Seychelles International Business Company (IBC) cannot trade within Seychelles or own real estate on the island.
  • Seychelles CSL & PCC should only conduct business relevant to the FSA approved special licenses.
  • Shares of a Seychelles corporation may be issued at par or no par value, as voting or non-voting and as preferential or common stock.
  • All Seychelles entities must comply with the economic substance requirements (ESR). Non-resident Seychelles companies must annually supply tax-resident residence overseas including foreign tax registration numbers and foreign tax returns.
  • Seychelles Revenue Commission complies with its international tax and financial obligations through exchange of information upon request (EOIR), peer reviews, Common Reporting Standards (CRS), Country by Country Reporting (CbCr) and Foreign Account Tax Compliance Act (FATCA).
  • The following information documents should be kept with the Seychelles company secretary in the legal registered office address:
    • Register of members and directors and shareholders.
    • Beneficial owner register.
    • Bi-annual keeping of accounting records.
    • Economic substance report.

Corporate bank accounts for Seychelles companies

  • Establishing a corporate bank account locally for a company in Seychelles is not only convenient but also does not portray a negative impression on the intended use of the Seychelles company.
  • All commercial banks in Seychelles are licensed by the FSA and the Central Bank of Seychelles.
  • Commercial banks like Absa and Al Salam are large and popular.
  • There are no additional regulatory application submission or fees required to open a Seychelles offshore corporate bank account.
  • Al Salam bank offers remote bank account opening option , multi-currencies support and Islamic banking solutions to Seychelles companies.
  • The significant hurdle lies in how global financial institutions view banking transactions from Seychelles.
  • When financial institutions see transactions with Seychelles commercial banks, they will be flagged as high-risk transactions. This will lead to reputation damage for the company, delays in payments and investments.
  • It is common for Seychelles banks to close corporate bank accounts without giving an open, transparent reason to their customers.
  • The number of commercial banks in Seychelles are limited. The list of commercial banks in Seychelles are Absa Bank, Al Salam Bank, Bank of Baroda, Bank of Ceylon, MCB Seychelles, Nouvobanq and the Seychelles Commercial Bank.
  • Services offered by Seychelles banks may not be of global standards but have higher monthly and transaction fees.
  • Most Seychelles commercial banks provide telephone support only during local business hours. This may be inconvenient for business owners in Europe or the USA.
  • For these reasons, Healy Consultants Group recommends multi-currency corporate bank account for Seychelles companies from major financial services centres such as Singapore, London, and New York.
  • Steps to open a corporate bank account in Seychelles

    • Step 1: Choosing between opening a commercial bank in Seychelles or in any other financial centre.
    • Step 2: Completing the bank application and questionnaires.
    • Step 3: Preparing support documentation. This includes a company certificates, information about directors and shareholders, share capital certificates and corporate documents.
    • Step 4: Waiting for the banks to process the application. It takes several weeks for the banks to process an account opening application. Banks will conduct risk & compliance procedure on the application and will also do a company check.
    • Step 5: Receiving authorised account opening notification from the bank.
    • Step 6: Enabling internet banking for the new account.
    • Step 7: Receiving all bank account opening documents to the registered address.

    Seychelles Readymade Companies

    Some businesses require a fast Seychelles company setup solution to complete a last-minute business deal. Seychelles readymade companies are useful in such situations.

    The Seychelles readymade company comes with an existing local or overseas corporate bank account and is available for immediate purchase.

    The procedure to transfer the readymade company is straightforward. The new directors and shareholders only need to sign the official documents that allow the transfer of power and ownership.

    Healy Consultants Group’s fees and timeline to setup Seychelles entities

    For complex and time-sensitive business needs, partnering with an international corporate services company for Seychelles business setup becomes essential.

    At Healy Consultants we ensure smooth company formation process by partnering with a reputable Seychelles ICSP, saving you time and ensuring timely operations within Seychelles.

    Our average Seychelles IBC set up engagement cost is US$10,160. This price includes the standard fees charged by the Seychelles authority.

    It requires 4 months to complete a Seychelles IBC setup engagement. This includes the time for IBC incorporation and opening a corporate bank account for the IBC.

    Different Seycehlles entity types Cost Draft invoice
    Seychelles Offshore IBC US$10,160 View invoice PDF
    Seychelles SLC US$11,100 View invoice PDF
    Seychelles Resident LLC US$7,900 View invoice PDF
    Seychelles Branch Office US$11,250 View invoice PDF
    Seychelles ITZ US$18,850 View invoice PDF
    Seychelles Offshore IBC with bitcoin bank account US$10,365 View invoice PDF
    Cryptocurrency company with PSP bank account US$8,465 View invoice PDF
    FX brokerage company US$44,700 View invoice PDF

    Videos on Seychelles company formation

    Seychelles company setup case studies

    Company setup in Seychelles with crypto friendly bank account

    In August 2020, our Client approached Healy Consultants Group to assist with setting up a Seychelles IBC entity and opening a crypto-friendly bank account.

    The Seychelles company setup process took longer than anticipated due to Covid-19 lockdowns in Seychelles, and therefore slower response times from the Seychelles government.

    Our Client provided all the due diligence documents required for company registration, signed the engagement letter and paid the first installment of our fees.

    Healy Consultants Group prepared and emailed our Client a draft business plan for review, input and email return.

    Meanwhile, we also submitted all documents to our Seychelles affiliate to begin the incorporation process.

    Our Seychelles affiliate provided all registration forms to be signed by the Client and e-mail returned them to us.

    Once all documents were signed, we submitted them to the Seychelles authorities to proceed with company registration.

    Three weeks thereafter, the IBC was registered, and we received the Certificate of Incorporation, Memorandum and Articles of Association and Appointment of Director confirmation documents.

    We requested the preparation of the Certificate of Incumbency and Certificate of Good Standing for our Client’s Seychelles entity, required to proceed with corporate account opening.

    Healy Consultants Group approached multiple global banks to secure in writing their interest in welcoming a corporate bank account opening application from our Client.

    We received a welcome email from a few banks, and the Client chose the bank he preferred to proceed with.

    Healy Consultants Group completed and submitted all pre-approval documents to multiple banks for review and approval.

    Two banks located in Europe and USA responded positively, and our Client chose one he preferred to proceed with.

    Healy Consultants Group submitted the application to the preferred bank. The banker then scheduled a call with our Client for KYC and verification process.

    After the call, the banker reverted requesting more information and documents, which the Client was required to sign and email return directly to the banker.

    Our Client then signed all the documents and submitted them to the bank. Healy Consultants Group submitted the Certificate of Good Standing and Certificate of Incumbency for our Client’s Seychelles company.

    Once the bank received all documents and information, the account was opened within a week and our Client was able to log in to internet banking.

    Our Client could now sign contracts, issue invoices, receive funds and pay suppliers through their newly-opened corporate bank account.

    Once the above was complete, Healy Consultants Group requested our Seychelles partner office to prepare the company kit including all registration documents and courier to our Client.

    *Notice: Seychelles entities can be registered with the Seychelles FSA only through a locally licensed International Corporate Service Provider (ICSP) / International Trustee Service Provider (ITSP). Healy Consultants Group act as an intermediary between the business owners and the Seychelles licensed service providers to project manage the Seychelles company formation engagement.

Contact us

For additional information on our company formation services in Seychelles, please contact our in-house country expert, Mr. Kunal Fabiani, directly:
client relationship officer - Kunal