An IBC is not allowed to engage in the businesses of banking, insurance, trusts and foundations. Therefore any words that may be suggestive of such businesses and which may mislead third parties are prohibited. There are also some other reasons for a name to be rejected.
Section 11(3) of the International Business Companies Act says “No company shall be incorporated under this Act under a name that –
(a) is identical with that of statutory corporation or that under which a company in existence is already incorporated under this Act or registered under the Companies Act or so nearly resembles the name of another company as to be calculated to deceive, except where the company in existence gives its consent;
(b) contains the words “Assurance”, “Bank”, “Building Society”, “Chamber of Commerce”, “Chartered”, “Cooperative”, “Imperial”. “Insurance”, “Municipal”, “Trust”, “Foundation”, or in the opinion of the Registrar, suggests or is calculated to suggest the patronage of or any connection with Seychelles or the Government of Seychelles or with any other country or the Government of that country
(c) is indecent, offensive or, in the opinion of the Registrar is otherwise objectionable or misleading.