Seychelles Accountancy Services

International companies in Seychelles do have to maintain accounting records, although these accounts are not on the public record in Seychelles. This is to comply with international rules to prevent money laundering, to avoid any doubts which may arise between shareholders of a Seychelles company. A client needs to contract an accountant on day one of the company's existence, to comply with the directors' responsibility to keep a good account of the company affairs.

Our comprehensive accountancy service combines compliance with the production of the company’s accounts.

What is required

Annual accounts need to be compiled, signed by the directors and approved by the shareholders.

Therefore, a Seychelles company needs to keep details of:

  • Directors, shareholders and the company secretaries
  • The results of any shareholder votes and resolutions
  • Promises for the company to reply loans at a specific date in the future, with details of the creditors
  • Promises the company makes for payments if something goes wrong and it is the fault of the company (indemnities)
  • Share transactions and any details where beneficiaries are different to the named owners
  • Loans or mortgages secured on the company's assets

Every Seychelles company incorporated under the Companies Act, shall by 31st December of each year furnish to the Registered Agent a return in the form of a declaration that: The company is keeping accounting records in accordance with the Act. Failure to comply with the requirement of the amended Act will result in fine and penalties for as long as the non compliance persists.

Accounts for a Seychelles company must show details of:

  • All money received and spent by the company
  • Price, location and depreciation records of all assets owned by the company
  • Details of all debts that the company owes or is owed
  • Proper records of all stock that the company owns at the end of the financial year
  • Records of how stock is valued for accounts- there are accounting rules on this, and we can advise you
  • A record of all goods bought and sold
  • Who the goods were bought from and sold to- this is very important for VAT purposes

Compliance with OECD rules and International Financial Reporting Standards (IFRS)

The Seychelles is compliant with OECD requirements to meet international standards to protect against crime and terrorism.

The OECD have an initiative on Harmful Tax Practices, and have produced a white list of countries that comply with these rules, Seychelles has complied with these rules.
We will compile accounts based on UK accounting standards, these standards are used internationally.

Where the company is trading; the financial statements would include a Balance Sheet: with notes showing the valuation of assets, A Profit and Loss Account or an Income and Expenditure Account in some cases, notes recording accounting policies and what assets are valued and a Directors' Report.