Starting a business in
🇸🇨Seychelles
Checked November 4, 2026 · How we score
Corporate tax
25%
Top income tax
15%
Setup from
$800
all-in, first year
Time to form
3 days
can be done remotely
Taxes in Seychelles
| Corporate income tax | 25% Business tax on Seychelles-source income is progressive at 25% on the first SCR 1,000,000 of taxable income and 33% above, for resident and non-resident entities (bands amended by SI 107 of 2024, effective 2025; confirm with the Seychelles Revenue Commission). International Business Companies (IBCs) and Companies (Special Licence) are taxed on a territorial basis: foreign-source income is generally not taxed, and the old 1.5% preferential rate for special licence companies ended in 2021. The Economic Substance regime applies to relevant activities. |
|---|---|
| Personal income tax (top) | 15% Residents pay 0% on monthly income up to about SCR 8,555 and 15% above that (confirm the current bands with the Seychelles Revenue Commission). Non-residents are generally taxed on Seychelles-source income only. Gainful Occupation Permit holders are residents for tax purposes after the qualifying stay. |
| Tax system | Territorial (foreign income untaxed) |
| Capital gains tax | 0%No separate capital gains tax in Seychelles, though gains on Seychelles real estate and business assets may be included in business income. |
| Dividend withholding (non-residents) | 15% |
| VAT / GST | 15% |
| Social security | 15% VAT applies at the standard rate. Dividends paid to non-residents by domestic companies are subject to 15% withholding; IBC distributions of foreign-source income to non-residents are generally exempt. Seychelles Pension Fund and social security contributions apply to employees working in Seychelles. |
Forming a company in Seychelles
| Usual entity | International Business Company (IBC) |
|---|---|
| Minimum capital | None |
| Setup cost (all-in) | $800–$1,800 |
| Annual running cost | $500–$1,500 |
| Time to incorporate | 3 days |
| Form remotely as a foreigner | Yes |
| Local director required | No |
| Local address required | Yes |
| Owners on public register | No |
| Statutory audit for small companies | No |
| Business banking for non-residents | Very hard |
Residency and visas
The Workcation Retreat Programme gives remote workers a visitor permit for up to a year, renewable. Business owners and employees of local companies need a Gainful Occupation Permit; an IBC with no local activity gives no residency. Seychelles does not currently sell citizenship by investment.
| Digital nomad visa | Workcation Retreat Programme |
|---|---|
| Golden visa | No |
| Ease of residency for founders | 3/5 (1 = easiest) |
Special tax regimes
IBC territorial treatment
International Business Companies with no Seychelles-source income pay no business tax, but must keep a registered agent and a beneficial ownership register and meet economic substance rules for relevant activities.
Workcation Retreat Programme
Remote-worker permit that lets visitors stay up to a year with no local employment.
Economic Substance Act
Seychelles tax-resident entities carrying on relevant activities (banking, funds, headquarters, IP and others) must show local substance.
Pros and cons
Why founders pick Seychelles
- Fast, 100% remote incorporation in a few days
- Very low setup and annual costs
- No tax on foreign-source income for IBCs
- Registers owners privately (not on public registry)
Watch out for
- Business bank accounts are very hard to obtain and often must be opened elsewhere
- Weak reputation: many banks and payment processors treat Seychelles entities as high risk
- Economic substance and reporting rules have tightened since 2021
- Not suitable if you need Stripe, major banks or investor credibility
Best for: Online businesses and consultancies that need a very cheap offshore holding or trading shell · Traders and brokers needing a low-cost entity · Asset-holding and international structuring (not for banking-dependent startups)
Seychelles: common questions
Is Seychelles a tax haven?
Seychelles is widely labelled an offshore centre because IBCs pay no tax on foreign-source income. It has tightened economic substance and transparency rules since 2021, and the old 1.5% special licence company rate ended, but banks still treat its entities as higher risk.
What is the corporate tax rate in Seychelles?
On Seychelles-source income the business tax is 25% on the first SCR 1 million and 33% above, based on the 2025 bands. International Business Companies with no local activity generally pay no tax on foreign-source income.
How much does a Seychelles IBC cost?
Formation through a registered agent typically costs about $800 to $1,800 including the registered office and agent. Annual renewal fees are usually $500 to $1,500.
Can I open a bank account for a Seychelles company?
It is difficult. Local banks rarely open accounts for non-resident IBCs, and most owners rely on electronic money institutions or accounts in other countries. Plan this before forming the company.
Is Seychelles on the EU tax blacklist?
Seychelles is not on the EU list of non-cooperative jurisdictions as of the October 2025 update, which listed 11 jurisdictions including Vanuatu, Fiji and Panama. The list is reviewed twice a year, so check the Council of the EU site for the latest.
Sources
Similar countries
Not tax or legal advice. Rates and rules change; we check official sources and update every page, but verify with a licensed adviser in the country before acting. Spotted something out of date? Use the correction form below.