Again and again we are asked by email or by chat about it, also in offshore forums or in various groups, e.g. on Facebook etc., again and again about it is written that the Seychelles are blacklisted, thus with the European Union on the black list of the harmful preferential tax systems were set.
What's wrong with being on an EU blacklist?
First of all, there's NO blacklist in the EU, the wording is rather:
"On February 18, 2020, the EU revised its list, of non-cooperative jurisdictions for tax purposes."
In other words, a list of non-cooperative countries as defined by the EU for tax-harmful forms of enterprise.
From a founder's point of view, however, this is rather a big advantage, as it implies that Seychelles will not back down and provide information about offshore IBC formations to the EU and its member states.
For the Seychelles it is moreover rather unlikely to agree to the EU requirements or to present the information exchange in conformity with the EU.
It is important to note that the Seychelles Constitution provides for the right not to provide or disclose data and information to third parties.
True to the "Las Vegas motto", what's in the Seychelles, stays in the Seychelles.
It is therefore forbidden, by law and under penalty, to transmit data to third parties.
The only possibility for which the Seychelles have also agreed is the handing over of data when it concerns real, major crimes, explicitly, - terrorist financing, arms trafficking, drugs. So if money laundering is used to try to implement these things.
What specifically can the EU do with its list against the Seychelles?
Nothing. In all the years that Seychelles has appeared on their list, it has remained so. No sanctions, no restrictions, nothing has happened.
It can't, as Seychelles is very independent, there are no agreements between the EU and Seychelles.
There is also no offshore bank in the Seychelles where money flows could be prevented, blocked or rejected. Accordingly, there is no exchange of information here either.
On top of that, there are no personalities in Seychelles on whom one could put pressure with personal sanctions, as they often happen in e.g. Russia or elsewhere.
Are invoices from Seychelles companies accepted by the EU tax authorities?
Of course! There are rumours circulating that this could be a sanction of the EU and its member countries, or their tax authorities and tax offices, invoices issued by companies from the Seychelles to companies in the EU are simply not accepted. So that one could not use these for the tax purposes, the annual accounts etc. and let them be credited.
That is not correct!
The OECD alone is decisive for such possible measures and the Seychelles are by no means on such a "blacklist" at the OECD.
Therefore, this is just playing on fear and there are no cases where a compliant invoice that actually lists goods or services from Seychelles has not been accepted by European tax authorities.
There may have been individual cases where, for example, exaggerated price calculations were played with, i.e. unjustified, credible prices for services were stated on invoices which were not logical or compatible, comparable with European prices and led to them not being accepted by the tax offices.
A compliant invoice issued in the Seychelles is deductible, can be brought in and used for tax purposes without any problems.
Therefore, do not let the negative interpretations of a blacklist impress you and dissuade you from your plans.
Especially the year 2020 has shown that it is good and very right to set up as soon as possible internationally with an IBC (International Business Company) of Seychelles, to reshape the future, which will be more globalized than before, for itself.
Now if you want to know how to set up a Seychelles offshore IBC company, what is required, what is included and the benefits of all this, go here: