The Seychelles IBC is governed by the International Business Companies Act 1994.
A Seychelles IBC is exempt from any form of taxation and withholding taxes is Seychelles. It is not considered though as a tax resident of Seychelles for the purposes of double tax treaties concluded by Seychelles.
However, a Seychelles IBC is prohibited from:
- Trading within Seychelles;
- Owning real estate in Seychelles;
- Undertaking the business of banking, insurance, reinsurance, fund management, asset management (other than the company's own assets) or any other activity that would suggest an associations with the banking and insurance industries;
- Selling its shares to the public.