Seychelles company annual review

After registering a company in Seychelles, no taxes need to be paid to the government if the company does not conduct business locally, but annual reports must be submitted on time.

Seychelles Company Annual Review Timing

The annual review must be completed three months before the anniversary of the company’s registration date.

Penalties for Late Annual Review

1.If the annual review fee is paid within 90 days of the designated annual review date, the penalty is 10% of the annual license fee.

2.If the payment is made after 90 days from the designated annual review date, the penalty increases to 50% of the annual license fee.

3.If the company exceeds 5 months past the designated annual review date, the company will be automatically struck off. To reinstate the company, a penalty of 50% of the annual license fee must be paid.

Accounting Records Retention for Seychelles Companies

According to company law, from February 6, 2022, legal entities must adhere to the following methods for keeping accounting records:

1.Under section 175(1A) of the Companies Act if the entity is (a) a holding company (meaning the company itself does not trade or operate a business but holds the interests or assets of other companies).

and (b) a non-large company (according to the Tax Administration Act, meaning the company's annual turnover is equal to or less than SCR 50,000,000), it must biannually store its accounting records at its registered office in Seychelles.

2.Accounting records for transactions or operations in the first half of the year (January to June) must be stored at the company’s registered office in Seychelles by July of that year.

Accounting records for transactions or operations in the second half of the year (July to December) must be stored at the company’s registered office in Seychelles by January of the following year.

Legal entities must store all accounting records from January 1, 2015, up to December 31, 2021, which covers the past seven years, at their registered office in Seychelles by February 6, 2022.

Legal entities must store the accounting records for the transactions or operations of the first half of 2022 (January to June) at their registered office in Seychelles by July 2022.

Legal entities must store the accounting records for the transactions or operations of the second half of 2022 (July to December) at their registered office in Seychelles by January 2023.

3.Although the amendment requires legal entities to store their accounting records at their registered office in Seychelles at least twice a year, note that the legislation always requires legal entities to continually (at all times) retain their accounting records and must be prepared to provide them to the Seychelles authorities upon request at any time.

Seychelles Company Annual Review

Business Navigation