Seychelles IBC formation for Indian owners
An International Business Company with its accounting records kept in Seychelles (required since 2021) and a beneficial ownership register under the Beneficial Ownership Act, 2020.
The Seychelles International Business Company (IBC) is a flexible, low-cost vehicle for international trading and holding. Since 2021 its record-keeping rules have tightened, and an IBC is now taxed on Seychelles-source income, so it should be set up with compliance in mind.
Key facts at a glance
| Company type | International Business Company under the International Business Companies Act, 2016 |
| Directors & shareholders | At least one director and one shareholder; corporate directors are permitted; no nationality or residence requirement |
| Registered agent | A Seychelles registered agent licensed by the Financial Services Authority is required at all times |
| Tax | Business tax applies to Seychelles-source income; since 15 September 2021, a company in a multinational group is taxed on foreign passive income unless it meets substance tests, and on income from activities abroad unless attributable to a foreign permanent establishment |
| Accounting records | Kept at the registered office in Seychelles, updated twice a year and retained for 7 years (since the 2021 amendment) |
| Beneficial ownership | A register of beneficial owners is maintained under the Beneficial Ownership Act, 2020 |
| EU tax list | Not on either EU list since February 2026 |
| India link | No DTAA; a tax information exchange agreement has been in force since 2016 |
Best suited for
- International trading with customers outside Seychelles
- Holding and investment for NRIs
- Cost-conscious international structures
What we handle
- Eligibility review under Indian ODI rules
- Incorporation through a licensed registered agent
- Accounting records submissions and beneficial ownership register
- Bank account support
- ODI reporting and Schedule FA where applicable
The Indian side
For a resident individual, the IBC must be an operating business that meets the ODI conditions — a passive holding company generally does not qualify. Where the company is managed from India, its place of effective management may bring it into Indian tax. See ODI & FEMA compliance.
Sources: International Business Companies Act, 2016 and the International Business Companies (Amendment) Act, 2021; Business Tax (Amendment) Acts 2018 and 2020; Beneficial Ownership Act, 2020; Council of the EU list of non-cooperative jurisdictions (revision of 17 February 2026); India–Seychelles TIEA (in force 28 June 2016).
Ready to set up in Seychelles?
We aim to reply within one business day with initial observations and next steps.