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Seychelles IBC Incorporation Procedures and Fees

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Seychelles IBC Incorporation Procedures and Fees

The Seychelles company mentioned in this quotation refers to an international business companies (“IBCs”) incorporated under the International Business Companies Act 1994 as amended (the “IBC Act”) of Seychelles.

Our fee for the formation and registration of an IBC in Seychelles is USD1,750. The fee includes provision of a registered agent and registered office service for one year, filing of ultimate beneficiary owner and the payment of official filing fees to the Seychelles Government. In short, our fees cover all formalities to bring a Seychelles IBC into existence.

For the purpose of registration of an IBC in Seychelles, the client needs to provide the proposed name of the company, the amount of registered capital, identity proof, such as passport or Certificate of Incorporation, and address proof, such as utility bill or address of registered office, of each person who will be the shareholder and director.

The registration of an IBC in Seychelles can be completed in 5-7 working days. However, another 1 week should be allowed for the delivery.

In 2020, Seychelles passed two Acts, namely Beneficial Ownership Act, 2020 and Anti-Money Laundering and Countering the Financing of Terrorism Act, 2020. Pursuant to Beneficial Ownership Act 2020, each company, including IBC, must comply with the Acts and fulfill several requirements for compliance.

Upon request, Kaizen can assist you to set up a corporate bank account for a fee of USD1,200. This fee covers the preparation of CPA certified corporate documents for the purpose of bank account opening. Please note, however, our service is limited to providing assistance and we cannot guarantee that bank account can be opened successfully.

The fees stated in the quotation are for preliminary reference only and do not constitute final transaction terms. All service fees shall be based on the actual quotation provided by our company for each individual case. We reserve the right to adjust pricing at any time without prior notice.

Seychelles Company Registration Fees and Services

Our fee for handling the registration of a Seychelles International Business Company with a standard Articles of Association and a registered capital of USD50,000 is USD1,750. In particular, our fees cover the following services:

(1)	Preparation of incorporation documents and filing of the documents with the Registrar for incorporation;
(2)	Carrying out of “Know Your Client” due diligence procedures;
(3)	Preparation and filing of initial Register of Directors;
(4)	Preparation and filing of Register of Beneficial Owners;
(5)	Payment of official filing fee;
(6)	Provision of registered office service (first year);
(7)	Provision of registered agent service (first year);
(8)	One company kit, including common seal and chop; and
(9)	Filing of Ultimate Beneficial Owners Information with the Financial Intelligence Unit (“FIU”).

Note:

(1)	The fee quoted above excludes before delivery charge. The amount of courier charge will be advised upon confirmation of delivery address.
(2)	A company with more than 50,000 authorized shares will be subject to higher official filing fee.
(3)	Readymade company is available in Seychelles. The fee for purchasing readymade company is the same.
(4)	Chinese name is available. If Chinese name is required or the readymade company purchased comes with a Chinese name, an extra fee of USD260 will be charged.

Optional Services

No.	Services	Fee (USD)
1	Additional Chinese name	260
2	Hong Kong mailing address (Note 1)	460
3	Certificate of Incumbency	350
4	Certificate of Good Standing	350
5	CPA certification (Note 2)	120
6	Bank account introductory services (Note 3)	1,200

Note:
(1) Unless otherwise agreed, mails will be scanned and emailed once a month. If original mails are to forwarded, a handling fee and delivery charges will be charged and billed separately.
(2) A set is limited to five documents. Extra fee applies if more than 5 documents.
(3) Fee for bank account introductory service also include a set of CPA certified corporate documents.

Time of Billing and Payment Methods

Upon receipt of your confirmation of engagement, we will issue and send an invoice together with the wiring instructions to you for your settlement. When you arrange the payment, please put our invoice number or client number in the message section and then email a copy of the remittance receipt to us for our records. Because of the nature of service, we require full payment in advance. And once the service is commenced, no refund of service fee will be made.

We accept cash, HKD check, TT and credit card through PayPal. An extra handling fee of 5% will be charged if paid by PayPal.

Materials Required for Company Registration

Materials required for the purpose of Seychelles company registration:

(1)	Copy of passport of each director, shareholder and ultimate beneficial owner (UBO) (contains the page(s) of personal particulars and photograph of the holder only);
(2)	Copy of residential address proof of each director and shareholder and UBO. A valid proof of address can be water and electricity bill or bank statement which include holder’s full name, full residential address, issuing date, name of issuing authority etc.
(3)	Copy pf corporate document, such as Certificate of Incorporation, Memorandum and Article of Association and Register of Members and Directors, etc.
(4)	Where the shareholder of the new Seychelles company is another corporation (corporate shareholder), an organizational chart illustrating clearly the relationship between the Seychelles company and its ultimate beneficiary owner(s);
(5)	A duly completed and signed Offshore Company Incorporation Order Form (provided and completed by Kaizen and approved by client).

The identification documents must be issued in English, or otherwise, certified translation will be required.

The document must be certified by a staff of Kaizen, or by a CPA, lawyer or attesting officer. Our staff will perform certification by video call or clients can visit any of our offices with the original copy of the identification documents and our staff will perform certification. If the certification is not performed by us, please state the full name, detail address, capacity, telephone no. or email address of the certifier on the documents.

Registration Procedures and Estimated Time Frame

It is estimated that the registration process would take around 5-7 working days, plus 1 week for delivery. The table below shows the estimated time frame for each step for your reference.

Step	Description	Days
1	Client confirms engagement with Kaizen and provide the materials listed in Section 5 to Kaizen by email or post. Client shall arrange payment of Kaizen’s service fee at this point of time.	Client’s schedule
2	Client arranges to have the identification documents of the shareholder(s) (Ultimate Beneficial Owner(s)) and director(s) certified an attesting officer. Client can also arrange with Kaizen to have the certification performed by video conference	Client’s schedule
3	Kaizen performs name availability search and reservation	2
4	Kaizen or its associate in Seychelles files the incorporation documents with the Registrar of Companies	1
5	The Registrar of Companies issues the Certificate of Incorporation	5
6	The Certificate of Incorporation being delivered to our office	5
7	Kaizen prepares other corporate documents (appointment of first director(s), first board meeting or written resolution and share certificate(s)) and sends them to client for signing	2
8	Client returns the duly signed documents back to Kaizen by email or post	1
9	Whole process completed; company kit being delivered to Client	Courier’s schedule

Registration Documents Returned to Client after Registration

After the Seychelles company is officially registered, Kaizen will return the following materials to client for retention:

(1)	Original copy of Certificate of Incorporation;
(2)	3 printed copies of Memorandum and Articles of Association;
(3)	Appointment of First Director, First Board Written Resolution, Registers of Directors, Members and others;
(4)	Issued Share Certificates(s);
(5)	One signature chop and one Common Seal.

Annual Compliance

(1)	Annual Renewal/License Fee The current annual maintenance (or renewal) fee for the second and subsequent years of a standard Seychelles International Business Company is USD1,350 (applicable to a company with registered capital of no more than USD50,000). The annual maintenance fee includes annual franchise or license fees, annual registered office, registered agent fee and economic substance reporting (not a member of a multinational group AND not derives passive foreign-sourced income). The annual renewal fee needs to be paid not later than one month before the anniversary date of incorporation. We will send a renewal notice to all our clients 3 months before the due date for payment by email. If you do not receive our renewal notice, please inform us accordingly. If you do not receive our renewal notice before the due date, please inform us accordingly.
(2)	Accounting Record and Annual Financial Summary The Seychelles International Business Companies (Amendment) Act, 2021 requires an IBC to lodged accounting record at the registered office in Seychelles on not less than bi-annual basis (two times per year). Services fee USD250 will be charged for the initial data collection, uploading and submission of information. IBC (except the holding companies with an annual turnover below USD3,750,000 (non-large companies)) requires preparing an Annual Financial Summary within 6 months after company financial year end and keep in the registered office address in Seychelles also. For ledger and financial summary preparation, our service fee is USD235 for dormant company or company with less than 50 transactions, separate quotation will be given if more than 50 transactions.
(3)	Keep an updated Ultimate Beneficial Owners Information Introduced by Seychelles Government in Year 2020, the Beneficial Ownership Act, 2020 (“BOA”, “the Act”) is in effect now. All Seychelles registered companies, including international business companies, must comply with the Act and provide the information to the Financial Intelligence Unit (“FIU”). Beneficial Owner refers to a natural person that meets any of the followings: (a) ultimately has a controlling ownership interest of 10% or above in a legal person or arrangement; or (b) exercise control of the legal person or arrangement through other means. If no individual meets the above statements, the individual who holds the position of a senior managing official of the company will be classified as the beneficial owners. Certain personal particulars, such as full name, residential address, service address must be provided to the FIU. If there is interest held by nominee, the information of both nominee and nominator should be provided. If there are changes of Beneficial Owner, the Company has an obligation to report the change within 14 days. For detailed information about UBO filing, please refer to Seychelles Beneficial Ownership Act and Regulation, 2020 .

Download：Seychelles IBC Incorporation Procedures and Fees【PDF】

The above quotations are for preliminary reference only and do not constitute final transaction terms. All service fees shall be based on the actual quotation provided by our company for each individual case. We reserve the right to adjust pricing at any time without prior notice.

If you wish to obtain more information or assistance, please visit the official website of Kaizen CPA Limited at www.kaizencpa.com or contact us through the following and talk to our professionals:
Email: info@kaizencpa.com
Tel: +852 2341 1444
Mobile : +852 5616 4140, +86 152 1943 4614
WhatsApp/ Line/ WeChat: +852 5616 4140
Skype: kaizencpa

Seychelles IBC Incorporation Procedures and Fees

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