What words are prohibited in offshore IBC names? Do you have a list?
An IBC may not engage in the business of banking, insurance, trusts and foundations. Therefore, any words that may indicate such business and mislead third parties are prohibited. There are some other reasons for the rejection of a name.
Section 11(3) of the International Business Companies Act states:
"No company shall be incorporated under this Act under any name which -.
- Is identical with that of a body corporate or that under which an existing company is already incorporated under this Act or registered under the Companies Act, or is similar to the name of another company calculated to deceive, unless the existing company gives its consent;
- Contains the words:
- Building society
- Chamber of Commerce
- Royal names (King, Emperor, Prince, etc.)
- Municipal names (country, region, etc.)
- FoundationPlease also do not use any word which has a similar meaning to any of the above or any other word which, in the opinion of the Register, suggests or describes Seychelles or the Government of Seychelles or any other country or the Government of that country.
- Is indecent, offensive or, in the opinion of the Registrar, otherwise objectionable or misleading.