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Glossary of the Seychelles company

Glossary of the Seychelles company

The terms you meet when forming and keeping a Seychelles company, explained in plain words and linked to the sections of the IBC Act.

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Terms from A to Z

Accounting records: Records that show the transactions and financial position of the company. They are sent to the registered office twice a year and kept for at least seven years. Section 174 →
Annual fee: The fee every IBC pays to the Registrar on each anniversary, through its registered agent. Late payment leads to penalty fees and in the end to strike off. Section 12 →
Annual financial summary: A short summary of the financial statements, filed with the registered agent within six months after the end of the financial year. Holding companies that are not large are exempt.
Apostille: Confirmation under the Hague Convention of 1961 that makes a Seychelles document valid in the other member countries without further legalisation. In the Seychelles it is issued by the Supreme Court.
Articles of Association: The internal rules of the company, for example on meetings, directors and the transfer of shares. Section 20 →
Bearer shares: Shares that belong to whoever holds the certificate. They are prohibited for Seychelles IBCs. Section 48 →
Beneficial owner: The natural person who in the end owns or controls the company. The beneficial owners are recorded in a register that is not public. Section 355 →
Certificate of Good Standing: Confirms that the company is on the register and has paid its fees.
Certificate of Incorporation: The founding certificate of the company, with name, number and date of incorporation.
Certificate of Incumbency: Shows the current directors, shareholders and the registered agent of a company. Banks often ask for it.
Director: Runs the company. One director is enough. Directors are recorded in the register of directors, which is filed with the Registrar but is not public. Section 130 →
Economic substance: Real presence and activity in the Seychelles. It matters for the tax exemption of certain passive income from abroad.
Financial Services Authority (FSA): The regulator of the financial sector in the Seychelles. The Registrar of International Business Companies is part of it.
Memorandum of Association: The founding document of the company with its name, registered office, registered agent and shares. Section 13 →
Nominee director: A professional who acts as director of record on your instruction. The nominee status and the name of the nominator are disclosed to the company and kept by the registered agent.
Register of directors: List of the directors with their details. It is filed with the Registrar within 30 days of any change. Section 152 →
Register of members: List of the shareholders and their shares, kept at the registered office. Section 104 →
Registered agent: The licensed service provider in the Seychelles that every IBC must have. It is the link between the company and the Registrar. Section 164 →
Registered office: The official address of the company in the Seychelles. Section 161 →
Registrar: The authority that keeps the register of companies, registers new companies and issues certificates. Section 344 →
Restoration: Bringing a company that was struck off back onto the register. Section 276 →
Strike off: Removal of a company from the register, for example when the annual fee is not paid. Section 275 →

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Seychelles Offshore Glossary, FAQ and Lexicon

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The Seychelles Offshore Glossary shows you the most common and important terms, as well as answers to questions for your new or existing offshore business.
The meanings of the English terms are also explained and translated. Simply click on a term or a question.

Glossary of the Seychelles company

Terms from A to Z

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Seychelles Offshore Glossary, FAQ and Lexicon

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