How to open a bank account for Seychelles company
The Republic of Seychelles is a group of 155 islands in the Indian ocean, at the North-East of Madagascar and 1,500Km east of the African continent coast. Seychelles manages one of the fastest-growing International Business Companies (IBC) registers in the world and is governed and protected under the enactment of the Financial Service Authority Act 2013. The descendant of Seychelles International business authority (SIBA), the financial service authority, is responsible for regulating non-bank financial service sector.
Central bank of Seychelles, established in 1983, exerts the power over regulating and supervising the banking system. Seychelles is one of the first countries in the region adopting Anti-Money Laundering Act in 1996.
The banking sector in Seychelles operates under the single regime licensing in which banks are allowed to conduct both domestic and international (offshore) banking business without separate licenses. As of the end of 2018, there are 8 licensed commercial banks in Seychelles, of which twos are fully and majority-owned by the government, namely Seychelles Commercial Banks and Nuovobanq bank, the rest are subsidiaries of foreign banks.
Opening a Seychelles offshore bank account gives many advantages. Beside extensive banking facilities offered i.e. multi-currency accounts, internet banking…, most banks have reasonable account deposits. Moreover, no signatory travel is needed to open a Seychelles bank account.
Wonder which can be the best bank for your Seychelles company? Let's find out with our Banking Tool
Open a Bank Account for Seychelles Company
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Though banks have different requirements on documents needed to open a bank account for Seychelles company, some of common ones can be named and listed below for your review. We strongly recommend you to contact us to get free consulting for your case.
Account application forms
Bank reference letter
Certified copies of personal identity documents including valid passports and residency proofs within 3 months for all directors/ shareholders/ account signatories
Copies of Seychelles company documents
Certificate of Incumbency