Seychelles corporate bank accounts in 2023

pay fee by instalmentsbusiness setup without travelGuaranteed solutions

Since 2003, Healy Consultants Group helps multi-national Clients open multi-currency corporate bank accounts in Seychelles for both local and overseas companies.

Without the bank signatory to travel, our team will project manage the multi-currency corporate bank account opening process, including preparing a quality business plan for our Client’s business.

We recommend our multi-national Clients read this web page to avoid bank surprises later!

  • Seychelles banking problems and solutions

    NoSeychelles banking problemHealy Consultants Group solution

    There is no bank deposit insurance scheme in Seychelles. If a bank fails, depositors lose their money.

    A Seychelles corporate bank account does not look good to international banks and governments and customers and suppliers. Consequently, third parties may feel uncomfortable receiving or sending funds to a Seychelles bank account.

    Seychelles multi-currency corporate bank account opening is difficult. Local banks request an extensive amount of Know Your Customer due diligence documents.

    For your Seychelles LLC, Healy Consultants Group will open a multi-currency corporate bank account in the USA, EU or Puerto Rico


    Bank insists that the bank signatory travel to Seychelles for a one-hour bank interview.

    Healy Consultants Group Client travel policy will apply. Our staff will organise the bank meeting in our Seychelles affiliates’ office and assist our Client during the bank interview(s).


    Global banks continue to tighten corporate bank account opening procedures, their internal compliance departments completing more thorough due diligence of Clients. Consequently, our Clients should expect Seychelles bank account approval to take up to two months.

    If our Client requires a bank account at short notice, we recommend an immediate Seychelles solution plus already-approved international corporate bank account.


    Like most international banks, it is common for Seychelles banks to close corporate bank accounts without giving an open, transparent reason to their customers. To close a customer bank account without giving the bank signatory an opportunity to explain ‘unusual transactions in the corporate bank account’ is an unfair, unreasonable action which places our multi-national Clients’ businesses under stress.

    We recommend our multi-national Clients open multiple multi-currency corporate bank accounts for their entity. It is unwise to open one corporate bank account and have their business be dependent on one bank.


    As we advance deeper into a global depression, it will become more common for banks to experience financial difficulties. Consequently, multi-national Clients should expect i) small banks to go bankrupt and ii) small to medium-sized banks to be bought over by top-tier banks. The number of banks operating in each country will get smaller, exposing our multi-national Clients to financial risk.

    For each of their entities, we recommend our multi-national Clients open multiple multi-currency corporate bank accounts across multiple countries. Spread your funds across multiple corporate bank accounts in several top-tier banks in different countries. Avoid small banks including PSPs, FSPs and digital banks. Ensure each bank offers customer deposit insurance.

  • The Seychelles banking sector

    Healy Consultants Group summary view:

    We recommend multi-national Clients minimise the funds held in Seychelles banks because:

    • The Seychelles economy is heavily reliant on tourism and services. In the event of a global recession in 2021 which will kill the demand for tourism and services, local banks would suffer from i) lower deposits as businesses go bankrupt, jobs are lost and household incomes drop, ii) reduced demand for financing products, such as loans and wealth management services and iii) lower interest rates. If government revenues dry up, Seychelles banks would go under. We advise our Clients spread risk by opening multi-currency corporate bank accounts with top-tier banks in major financial centres, not just in Seychelles.
    • Seychelles remains on the European Union tax neutral blacklist for not taking sufficient steps to clamp down on tax avoidance and harmful tax practices. Seychelles bank accounts, and transactions, will therefore come under greater scrutiny by global authorities.
    • That said, Seychelles is not on the Financial Action Task Force (FATF) blacklist of countries with strategic AML deficiencies. In 2020, its AML/CFT standards were deemed FATF-compliant.
    • Because Seychelles is perceived as an offshore tax neutral jurisdiction, your Clients, suppliers, international banks and governments may feel uncomfortable receiving money from, or making transfers to, a Seychelles bank account.
    • Seychelles is a signatory to the Common Reporting Standard (CRS) global information exchange system, as well as Foreign Account Tax Compliance Act (FATCA) reporting protocols. Therefore, banks in Seychelles share details of accounts held, controlled or beneficially owned by foreign residents, with other banks and governments around the world, including the Internal Revenue Service (IRS).
    • Seychelles has a sovereign rating of B from Fitch Ratings.
  • Key information on the Seychelles banking sector

    • The Seychelles banking and financial system is regulated and supervised by the Central Bank. There are i) eight commercial banks, ii) two non-bank credit institutions iii) one non-bank deposit taking institution iv) one payment service provider and v) 20 bureaux de change.
    • Our preferred banks in Seychelles are i) MCB, ii) Al Salam Bank and iii) Barclays. These banks offer multi-currency accounts with full account services (e g i) checking and saving accounts, ii) debit and credit cards, iii) fixed-term deposit and iv) wealth management services), and better customer service and online banking (all available in English) than local Seychelles banks. Local banks are better suited to resident Seychelles companies.
    • Opening an international bank account for a newly incorporated Seychelles company is challenging. For example, i) most banks will require the company to demonstrate it has ‘substance’ in the Seychelles, or proof of business and ii) most banks are reluctant to open corporate accounts for companies with complex structures involving multiple foreign beneficial owners. To increase the chance of account opening success, we recommend our Client keep the corporate structure simple.
    • Fortunately, Healy Consultants Group can open a Seychelles corporate bank account without our Client needing to travel to Seychelles.
    • Seychelles is one of the most difficult countries in the world in which to get credit. When dealing with applications, the bank will typically request i) detailed business plan and feasibility study for the Seychelles company, ii) security deposit, iii) that the company officials have sufficient knowledge/experience in the line of business that the company operates in, iv) audited financial statements for past three years and v) project evaluation (SWOT analysis).
    • Healy Consultants Group can assist our Clients secure finance for their Seychelles company. This includes trade finance, such as i) bank guarantees, ii) letters of credit, iii) finance against trust receipts and iv) documents against payment and against acceptance.
    • If our Client prefers that we open an international bank account for them, we recommend London, New York, Germany, Bulgaria, South Africa, Australia or Dubai. Our fee for this service is US$3,950 without travel, or US$2,550 with travel. All banks are top-tier banks in these countries with excellent internet banking services.
  • Foreign exchange obligations in Seychelles

    There is no limitation on the inflow or outflow of funds for remittances of profits, debt service, capital, capital gains etc.
  • Healy Consultants Group fees to help open a corporate bank account in Seychelles

    Healy Consultants Group guarantees Seychelles corporate bank account approval. Our fees for different banking services include:

    Seychelles banking taskOur Client travelsUS$
    Seychelles bank account for a foreign companyNo5,950
    Seychelles bank account for a resident Seychelles companyNo4,950
    Seychelles personal bank accountNo4,950

  • Seychelles business banking options at a glance

    Summary at a glanceAl Salam Bank
    MCB SeychellesBarclays SeychellesNouvobanq
    Does our Client needs to visit the bankNoNoNoNo
    Initial deposit for local currency corporate bank accountN/ASCR100SCR15,0000
    Initial deposit for a US$ currency corporate bank accountUS$5,000US$200US$100,0000
    Time to open corporate bank account5 days10 days10 days10 days
    Bank facilitiesAl Salam Bank
    MCB SeychellesBarclays SeychellesNouvobanq
    Our rating of the bank’s customer serviceAveragePoorPoorPoor
    Internet banking availableYesYesYesYes
    Corporate cheque bookNoYesYesYes
    Corporate ATM cardYesYesYesYes
    Corporate debit card (visa)YesYesYesYes
    Corporate credit cardNoNoNoNo
    Internet bankingAl Salam Bank
    MCB SeychellesBarclays SeychellesNouvobanq
    How long to receive password and login name2 weeks2 weeks2 weeks2 weeks
    Daily online transaction limitNo limitNo limitNo limitNo limit
    Can local currency transactions be viewedYesYesYesYes
    Can USD transactions be viewedYesYesYesYes
    Online local currency payments to third parties allowedN/AYesYesYes
    Online USD payments to third parties allowedYesYesYesYes
    Our rating of local currency internet banking facilityN/AFairFairFair
    Our rating of the USD internet banking facilityFairFairFairFair
    Bank logisticsAl Salam Bank
    MCB SeychellesBarclays SeychellesNouvobanq
    International branch locationsClick hereClick hereClick hereClick here

  • External Videos


Seychelles multi-currency corporate bank account opening is easy if you know how. Contact Healy Consultants Group if your firm needs assistance navigating through the different banking solutions.

Contact us

For additional information on our business registration services in Seychelles, please contact our in-house country expert, Ms. Jaya Thevathasan, directly:
Consultant at HC - jaya
  • Ms. Jaya Thevathasan
  • Client Relationship Officer
  • Contact me!
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