Will there be tax charged for foreign-sourced income in Belize and Seychelles?

No. Both Belize and Seychelles charge no tax on income you earn abroad. Also, there are no capital gains taxes or withholding.

Between Belize and Seychelles, which one offers better privacy protection?

With Belize, you get the best privacy protection, given the absence of a public registry of the ownership or directors. Even Seychelles offers a similar degree of privacy. Also, there is a safe, beneficial ownership.

Which jurisdiction will cost me less to set up the company?

Both Seychelles and Belize are cost-effective. However, the former charges less on renewal fees annually. Belize’s cost-effectiveness is reflected in terms of basic company forms.

Is it possible to transfer a Belize IBC to a Seychelles IBC in 2025?

Transferring a company between jurisdictions is not possible directly. However, you have the option to set up your new Seychelles IBC and then transfer operations and assets as required.

What is the difference between the Seychelles and Belize substance requirements?

To conduct offshore activities, neither Seychelles nor Belize mandates you to have local staff or offices. However, both of these jurisdictions have increased record-keeping and compliance to adhere to global standards.

Seychelles Vs Belize: Which Offshore Jurisdiction Suits You Best in 2025?

For forming a company in an offshore jurisdiction, you, of course, will choose a holding company. After all, you want to protect the assets of your business. And what is better than setting up an offshore holding company to do so?

But besides setting up an offshore holding company, you also need to choose the right jurisdiction for company incorporation. Seychelles and Belize are at the top as the best offshore locations for ideal asset protection.

In this offshore comparison guide, we will help you navigate the complexities of both jurisdictions. From tax to privacy, compliance, cost and everything in between, we will lay down all the key facts so you can choose the best.

Setting The Stage: A Snapshot of Seychelles and Belize

Here is the differentiation between the jurisdiction of Belize and Seychelles based on different nuances –

Requirements and characteristics of Seychelles and Belize holding companies

Both Belize and Seychelles have similar functionalities and requirements for holding companies. Let’s take a look at those below –

1- Seychelles

· Organised administration: The absence of annual account filing requirements lowers administrative burdens for companies in Seychelles.

· Flexibility and confidentiality: This jurisdiction delivers a flexible management structure. It also prioritises confidentiality for businesses.

· External subsidiaries: Seychelles IBC subsidiaries must be situated outside of the jurisdiction.

· Resource utilisation: IBCs in Seychelles can use the resources of their subsidiary companies.

· Shareholding flexibility: IBCs can participate as a larger shareholder group’s part or as a primary shareholder.

2- Belize

· Restrictions: There is a prohibition on real estate ownership, local resident ownership and banking activities of holding company shares.

· Strengths: Belize’s strong asset protection laws make it a go-to choice for holding companies.

· Structure: Holding companies are IBCs and must have subsidiaries situated outside of Belize.

· Taxation: There is an exemption from Belizean taxes. However, obtaining relevant licenses is critical before operating.

Tax Environment: Zero Taxes vs Additional Levies

Features	Seychelles IBC	Belize IBC
Corporate tax	0% (foreign income)	0% (foreign income)
Capital gains tax	0%	0%
Withholding tax	0%	0%
Local tax on local income	30% (if Seychelles-stored income)	N/A (local business not permitted)
Double tax treaty access	Yes (qualified for DTAAs)	No
Annual government fees	$150	$150-$250
Account filing requirement	No annual filing for IBCs	No annual filing for IBCs

Privacy and Confidentiality of Public Registers and Beneficial Ownership

Features	Seychelles	Belize
Beneficial ownership register	Centralised, not public. Access restricted to authorities only	Central register exists, but not public. Access is mainly for authorities
Disclosure to the public	No public disclosure. Only competent authorities can access	No public disclosure. Information is available to authorities, not the general public
Data storage	Confidential, maintained by registered agents and in a centralised database	Maintained by the Financial Services Commission and under the AML framework
Update and accuracy	Companies must keep information up to date. There are fines for non-compliance	Deficiencies noted in update frequency and supervision. Enforcement is weaker than in Seychelles
Nominee/privacy tools	Use of nominee founders is possible for added privacy in foundations	Nominee structure is possible. Privacy remains strong, but international pressure is increasing
Asset protection	Strong, with additional legal provisions for foundations	Strong, especially for trusts. But with growing transparency requirements.

Compliance Regulatory Landscape: Achievement of Global Standards

What has Seychelles done to improve AML and CFT?

Seychelles has made huge progress in countering the financing of terrorism framework and aligning its anti-money laundering with global standards, especially those set by financial action task force. Seychelles has -

- Enacted the AML/CFT Act 2020

- Conducted regular National Risk Assessments to identify and mitigate vulnerabilities

- Introduced powerful CDD and enhanced due diligence requirements

- Implemented central registers for beneficial ownership

- Improved mechanism for asset forfeiture

How do substance requirements compare?

Seychelles has implemented economic substance requirements. These are in line with international expectations. Also, compared to other jurisdictions, Seychelles’ rules are deemed more robust. Plus, they are closely monitored via regular updates and clear enforcement mechanisms.

Why choose Seychelles?

Seychelles is the best tax haven 2025 because –

- Seychelles has rapidly improved its AML/CFT and substance regimes. It now meets or exceeds most international standards.

- Offers a zero-tax environment for foreign-sourced income. You also gain access to double tax treaties for added tax planning advantages.

- Maintains privacy for beneficial owners. That, too, while complying with international transparency requirements.

- Clear, modern laws and active regulatory bodies that provide certainty for international business.

Cost and Maintenance: Planning the Formation and Maintenance Costs

Which jurisdiction is more cost-effective on average?

In the debate between Seychelles vs Belize, both of these jurisdictions offer reasonably price offshore company formation. Seychelles comparatively has low annual renewal fees. Also, the setup cost is competitive. Belize has a streamlined incorporation process. Capital requirements are low, too.

For IBCs, neither of these jurisdictions mandates audited accounts or annual general meetings. That’s why IBCs are inexpensive and easy to operate. But again, if you wish to focus on nominee service, legal assistance or additional compliance, the expenses might increase.

In short, Seychelles may be better compared to Belize in terms of annual expenses. However, both are affordable in terms of costs to most businessmen.

Ending note

In 2025, the debate between Seychelles vs Belize is no brainer. Both come out as the best jurisdiction for your offshore holding company. With no public registers and very limited reporting, Belize is the best fit for easy process needs. But again, if compliance, reputation and competitive fees are of primary importance to you, then opt for Seychelles.

Both of these countries are tax-free on foreign income. Also, there is easy offshore incorporation. Regardless of the choice you make, go for one that suits your business’s interest, privacy, compliance and more.

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