Business accounts: Seychelles
An honest assessment before work starts, the quote is fixed in writing.
Seychelles is one of the most popular jurisdictions for international business companies: formation is inexpensive, and foreign income is not taxed if the conditions are met. Banks are supervised by the Central Bank of Seychelles, there have been no exchange controls since 2008, and accounts are opened in dollars, euro and rupees. But local banks are strict with companies that do business only abroad, so a Seychelles company's account is often opened in another country.
What a Seychelles company needs
| Requirement | How it works |
|---|---|
| Registered agent and office | mandatory in Seychelles |
| Government fee | $130 on formation and $140 a year |
| Beneficial owners | filed through the agent in the Financial Services Authority's closed database, changes within 14 days |
| Accounting records | kept with the agent; updated records are sent twice a year and a financial summary within 6 months of year end |
| Tax on foreign income | not charged; passive foreign income is exempt if the company has economic substance |
Accounting and beneficial ownership requirements were tightened in 2020-2021, and banks check that the company complies.
We will calculate online the cost of opening an account for your company and maintaining it for a year.
Company formation
The company is formed by a licensed agent in Seychelles, usually within 1-3 business days after the name and owners' documents are checked. At least one director and one shareholder of any nationality are needed, and they can be the same person. The register of directors is filed with the registrar, and beneficial owners go to the closed database. Corporate documents for a bank in another country are apostilled.
Where to open an account
| Option | Chances | What else the bank will ask |
|---|---|---|
| A bank in Seychelles, the company has business or an office on the islands | medium | contracts, business description, link to Seychelles |
| A bank in Seychelles, the company works only abroad | low to medium | a convincing purpose, large turnover, references |
| A bank or payment institution in another country | medium to high | a clear model, owners' documents, source of funds |
What the bank will check
- Certificate of incorporation, articles, registers of directors and shareholders, a certificate of good standing from the agent.
- Beneficial owner details and passports, proof of addresses.
- Business description: clients, suppliers, payment countries and currencies, expected turnover.
- Contracts and invoices proving real activity.
- Source of capital and of the owners' funds.
- Tax residence of the company and owners: Seychelles exchanges tax information with many countries.
How the opening works
- Structure assessment and choice of a bank or payment institution for your payment countries and currencies.
- Company document pack, apostille on corporate documents, business description and proof of source of funds.
- Bank review, often with a video call with the director and beneficial owner.
- Account opening and online banking setup.
The review usually takes two to eight weeks, depending on the bank and the complexity of the structure.
Who gets refused
The bank will refuse if the company cannot explain its business, if accounts are not kept or beneficial owners not filed, if the source of money cannot be proven with documents, or if the company, its owners or counterparties are linked to sanctions. We check whether the bank works with Russian citizens before preparing documents.
What we do
Murblz specialists assess the chances before applying, choose a bank in Seychelles or another country for your model, prepare company documents, apostille, the business description and the explanation of the source of funds, and handle correspondence until the account is open. We keep the company's accounts and filings with the agent so the bank does not close the account over breaches. We fix the estimate in writing; the decision to open an account always rests with the bank.
What we do
- Corporate account - opening assistance
See also
Company formation · Personal account · Investment property · All country programs
FAQ
Can a Seychelles company open an account in Seychelles?
Does the company need a link to Seychelles?
What does the bank ask for?
Does a Seychelles company pay tax?
How much does it cost to maintain a Seychelles company?
How long does it take to open a Seychelles company account?
What can replace an account in Seychelles?
Where can your Seychelles company open an account?
We find a bank or payment institution that will take your Seychelles company, build the pack with source of funds and follow the application to a decision. The catalogue covers every country.
The Murblz consultant replies straight away in the chat on this page. Describe your situation and we will work it out together.
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