No because Seychelles residents are legally able to own and operate a Seychelles IBC as long as the IBC is not conducting business within Seychelles.

Seychelles also has a “territorial” tax system meaning that Seychelles residents are only taxed on their locally sourced income. Therefore, there is no advantage to non-residents over residents and claims of “ring fencing” have no merit on the Seychelles IBC. This has been, and continues to be, used successfully by Seychelles in defense of the Seychelles IBC. Furthermore there are no restrictions on a Seychelles IBC owning shares of a Seychelles domestic company.