🇸🇨 Annual Compliance — Seychelles

Trying to open a bank account with a Seychelles IBC as the sole entity

Fix: Banks view standalone IBCs as high-risk shell companies. Layer your Seychelles IBC with an operating entity in a banking-friendly jurisdiction (Singapore, UK, UAE, Hong Kong). The IBC holds assets or equity; the operating entity banks and trades.

Assuming a Seychelles IBC provides complete privacy from tax authorities

Fix: Seychelles participates in automatic exchange of information under CRS and has signed numerous Tax Information Exchange Agreements. Beneficial ownership information is maintained by the registered agent and accessible to the FSA. Plan on the basis that your home tax authority will know about the IBC.

Using a Seychelles IBC for activities that require institutional credibility

Fix: If you need to raise investment, work with regulated counterparties, or sign contracts with large corporates, a Seychelles IBC will create friction. Use a more credible jurisdiction (BVI, Singapore, UK) for client-facing or investor-facing entities.

Forgetting to pay the annual licence fee and losing the company

Fix: The Seychelles FSA strikes off IBCs that fail to pay their annual fee. Set a calendar reminder well in advance. Restoration is possible but costs more and creates a gap in the company's good standing that counterparties may notice.