Does an IBC give foreigners an unfair advantage over residents?
No, because Seychelles residents are just as legally able to own and operate a Seychelles IBC as long as the IBC does not operate in Seychelles.
Seychelles also has a "territorial" tax system, which means that Seychelles residents are only taxed on their locally earned income. Therefore, there is no advantage for non-resident foreigners over residents.
claims to Ring fencing have equally no value in the Seychelles. This has been and is being successfully used by Seychelles to defend the Seychelles IBC. Furthermore, there are no restrictions on a Seychelles IBC holding shares in a domestic Seychelles company.