Seychelles vs Belize
Seychelles is £150 cheaper in year 1 and £235 a year cheaper after that.
| SeychellesInternational Business Company (IBC) | BelizeCompany (former IBC) | |
|---|---|---|
| Costs | ||
| Minimum, year 1 | £600 | £750 |
| Minimum, per year after | £340 | £575 |
| Typical year 1 | £825 | £1,048 |
| Government fee | £100US$130 IBC incorporation fee | £115US$150 registry fee for share capital up to US$50,000 |
| Indirect setup | £500–950 | £635–845 |
| Running per year | £340–1,380 | £575–1,075 |
| Share capital | None | None |
| Rules | ||
| Directors | No local director | No local director |
| Remote setup | Through a providerFully remote through a registered agent. | Through a providerFully remote through a registered agent. |
| Audit | No audit | No audit for most companies |
| Time to form | 1 to 3 days | 2 to 10 days |
| Ease for foreign owners | 4/5 | 4/5 |
| Tax and banking | ||
| Corporation tax | 0%0% on foreign income. Passive foreign income needs local substance. | 0%No income tax for most companies. A company that is tax resident in another country and has no presence in Belize can claim exemption. |
| Dividend withholding | None | None |
| VAT / GST | None | 12.5%Business tax of 1.75% to 6% applies to gross receipts from anywhere. |
| Banking | 1/5Very hard to bank. | 1/5Very hard to bank. |
| All company setup fees in Seychelles | All company setup fees in Belize | |
Questions
Is Seychelles cheaper than Belize for company setup?
Yes. Seychelles costs at least £600 in year 1, against £750 for Belize.
Which is cheaper to run each year?
Seychelles, at least £340 a year against £575 for Belize.
Which needs a local director?
Neither. You can run a company in either without a local director.
Which is faster to set up?
Seychelles, in 1 to 3 days. Belize takes 2 to 10 days.
How does corporation tax compare?
Seychelles: 0% on foreign income. Passive foreign income needs local substance. Belize: No income tax for most companies. A company that is tax resident in another country and has no presence in Belize can claim exemption.
Sources: Seychelles FSA · Air Corporate · BCCAR · BBCIncorp · Expanship