How to Open a Business Bank Account in Seychelles
Opening a business bank account in Seychelles is a straightforward process for both local and foreign entrepreneurs, provided you prepare the right documentation and meet compliance requirements. Seychelles offers a stable banking environment regulated to international standards, making it attractive for offshore and onshore businesses.
Key Requirements:
Company documents: Certificate of incorporation, memorandum and articles of association, and register of shareholders.
Identity proof: Valid passports and proof of address (utility bill not older than 3 months) for all directors, shareholders, and beneficial owners.
Business plan: A simple outline of your company’s activities, expected transactions, and cash flow forecasts.
Bank reference letter: Some banks require a letter of recommendation from your existing bank.
Process:
Choose a bank: Seychelles has local banks like Absa, Al Salam Bank, and Bank of Baroda offering business current accounts.
Prepare documents: Ensure all non-English documents are translated and notarized.
Submit application: Fill out the bank’s prescribed account opening form and submit all required documents.
Due diligence: The bank will conduct KYC/AML checks, which may take a few days to several weeks.
