Who can become a director?

Any individual over the age of 18 may become a director of a Seychelles Offshore (IBC) shall be appointed. The person must not have insolvency status, have been convicted of a criminal offence or have been disqualified from otherwise acting as a director. It is generally recommended that someone with a good clean history is appointed because a director's past is likely to be checked at some point, especially if a bank account is required. Most banks will refuse an application if it is a person with a "colourful" past.

As an alternative to individuals, any legal entity from anywhere in the world may be appointed. The legal entity must be listed as existing in its register. Also, when appointing a corporate director from the date of incorporation of your new IBC, it is important that the corporate director existed at the time of appointment and was not formed after the IBC (i.e. a few days later).

A person (whether an individual or a company) who is competent and responsible should normally be appointed, particularly if they are an executive director. Directors are responsible for the affairs of the company and owe a duty of care to the company which is taken seriously by all courts.

Note also that the management and control of the company can often be located in the country where the directors are based. E.g. the Seychelles. This can have significant implications for legal proceedings and tax matters. If you feel that you may face such issues, we recommend, Contact to join us.

You can find more and further information in our Lexicon/Glossary or in the IBC Act.