Knowledge base · SC

Seychelles

An Indian Ocean jurisdiction whose international business company, foundation and trust serve holding and family structures; off the EU tax list since February 2026, with a 10% beneficial-ownership threshold and a central database that is not public.

Seychelles offers the international business company for holding and investment structures, alongside foundations and trusts under modern statutes. Companies, foundations, partnerships and trusts all fall under the Beneficial Ownership Act 2020: a 10% threshold, a register kept at each entity’s resident agent, and a central database held by the Financial Intelligence Unit that is not public.

Two reforms shape the current regime. Since 2021 an IBC keeps its accounting records at its registered office in Seychelles and prepares an annual financial summary, and an IBC in a multinational group must show substance to keep foreign passive income outside business tax. Since the 2024 amendment, the register of members also identifies the nominator behind any nominee shareholder.

Seychelles left the EU’s list of non-cooperative jurisdictions in February 2026, after a ‘Largely Compliant’ rating from the Global Forum. The special-licence company (CSL) is a legacy form: its grandfathering, and its 1.5% business tax rate, ended on 30 June 2021. Limited partnerships and protected cell companies are also available and fall within the Beneficial Ownership Act.

General information, not advice. Facts are stated as of the date on each page. Law, lists and rates change; the professional who acts for the entity confirms what applies to it. Chrysos performs no regulated act and gives no legal or tax advice.

Facts as of 30 October 2026

Beneficial ownership

Who is a beneficial owner: A natural person who ultimately owns or controls, directly or indirectly, 10% or more of the shares or voting rights of a company, foundation or partnership. If no one does, a person with control by other means; failing that, the senior managing official.
Register: Under the Beneficial Ownership Act 2020, amended in 2022 and 2025, each entity keeps a register of beneficial owners at its resident agent's principal place of business. The resident agent uploads it to the Seychelles Beneficial Ownership Database, kept by the Financial Intelligence Unit. Listed companies and their wholly owned subsidiaries upload basic particulars and a certification instead.
Deadlines: Upload within 14 days of the register being set up and within 14 days of entering a change. A beneficial owner tells the entity of a change within 21 days. An annual declaration of compliance goes to the resident agent within one month of each anniversary of registration.
Who can see it: Not public. Competent authorities, law enforcement, the registrars, the licensing authority, the Central Bank and the courts obtain it by written notice or order. Since 2022 trustees must disclose it on request to banks and other obliged entities doing customer due diligence.
Trusts and foundations: For trusts there is no threshold — trustee, settlor, protector, beneficiaries or their class, and anyone with ultimate effective control are all beneficial owners. Trusts under the Trusts Act 2021 are entered in a register of trusts kept by the Financial Services Authority. For a foundation, persons with decision, veto or appointment rights are included.
Nominees: Allowed, and disclosed. The beneficial-owner register records each nominee and its nominator — for a corporate nominator, the natural person who controls it. Since the 2024 amendment an IBC's register of members also identifies the nominator.
Penalties: Up to SCR 50,000 for each failure to keep the register, with personal liability for directors or partners, and up to SCR 150,000 for upload failures. A resident agent who knowingly uploads false information faces up to two years' imprisonment, a fine of up to SCR 150,000, or both. Up to SCR 200,000 for a trustee who does not cooperate.

Lists and exchange of information

EU tax list: Not listed after the revisions of 17 February 2026 and 9 October 2026. Removed from Annex II in February 2026, after the Global Forum rated Seychelles 'Largely Compliant' in January 2026. In Annex I from October 2023 and Annex II from February 2024.
FATF and ESAAMLG: A member of ESAAMLG, the FATF-style regional body for Eastern and Southern Africa.
Exchange of information: Exchanges under the Common Reporting Standard. A Model 1 FATCA agreement is shown as signed on the US Treasury list; the Seychelles Revenue Commission says reporting was due to start in 2020 and was delayed by COVID-19. Rated 'Largely Compliant' for exchange of information on request by the Global Forum in January 2026.

3 forms

Legal entities

Company · IBC

International business company

Law: International Business Companies Act, 2016 (Act 15 of 2016), amended in 2021 and 2024

The Seychelles company used in international structures. A separate legal person, usually limited by shares; since 2021 its name may also end in LLC or Co.

Members and officers: A Seychelles-licensed registered agent and a registered office are mandatory. The register of directors records each director's date of birth, nationality, and service and residential addresses.
Public register shows: A certificate of official search shows the company's status. The register of members and beneficial-ownership data are not public.
Accounts and audit: Accounting records are kept at the registered office in Seychelles, updated there at least twice a year and kept for seven years; an annual financial summary is prepared within six months of year-end and kept there too. The records are not filed with the Registrar or made public. A breach can cost the company and its directors up to US$10,000.
Economic substance: Since 16 September 2021 an IBC in a multinational group is a covered company under the Business Tax Act. It keeps the exemption for foreign passive income only with adequate employees and premises in Seychelles and, unless it is a holding company, its core income-generating activities there.
Tax: Taxed on Seychelles-source income; foreign-source income is generally outside the charge unless the covered-company rules apply. Business tax is 15% on the first SCR 1 million and 25% above. Withholding of 15% on dividends, interest, royalties and technical service fees paid to non-residents, subject to treaties.

How owners use it

Holding company for African and Indian Ocean investments, and for some Asian trading groups
Investment holding company under a trust or foundation
IP or brand holding where the company has real substance in Seychelles

What comes with it

Banks review Seychelles companies with care, given the EU listing between 2023 and 2026, and ask where accounting records are kept and for financial statements
The beneficial-ownership declaration given to a bank must match the upload to the Financial Intelligence Unit, including nominator details
A covered company without adequate substance loses the exemption for foreign passive income
A struck-off company is deemed dissolved; restoration is possible within five years

Foundation

Law: Foundations Act, 2009, amended by Act 33 of 2021

A foundation under the Foundations Act 2009. Families use it for succession and governance and to hold shares in operating or holding companies.

Beneficial owners: Anyone with 10% or more of the ownership interest and, among others, persons with decision or veto rights and persons with rights of appointment.
Register: Keeps a register of beneficial owners at its resident agent, uploaded to the central database, even before any beneficiary is identified.

How owners use it

Succession and family governance for families from civil-law countries
Holding shares in operating or holding companies
Charitable or purpose structures

What comes with it

Banks ask for the charter and regulations, the identities of council members, protector, founder and beneficiaries or their class, and the source of the endowment

Trust · PTC

Trust and private trust company

Law: Trusts Act, 2021 (Act 34 of 2021), amended 2022

A trust in writing under the Trusts Act 2021, which repealed the International Trusts Act 1994. It has no legal personality; the trustee holds the assets.

Register: Licensed trustees and private trust companies enter their trusts in the Financial Services Authority's register of trusts and notify trustee appointments and terminations within 21 days.
Beneficial owners: No threshold — trustee, settlor, protector, beneficiaries or their class, and anyone with ultimate effective control.
Disclosure: Since 2022 trustees disclose beneficial-ownership information on request to banks and other obliged entities doing due diligence.

How owners use it

Estate planning
Holding the shares of an IBC

What comes with it

Banks ask for the trust deed, every beneficial owner of the trust and the trustee's licence

Sources

Facts as of 30 October 2026

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