financial statements, annual reports, tax returns for Seychelles IBC

[Kris]

I was asked by my bank from EU to deliver financial statements, annual reports, tax returns for my Seychelles IBC.
Do you have any ideas what say to the bank or what to do so they not close my account?

 

[Gediminas]

While Seychelles law does not require you to keep financial statements, I would advise doing‌ accounting at some level, as financial institutions have to understand your financial situation. Financial statements‍ is a universal tool for that and compliance officers expect you to have it.

Depends on what volume of transactions your bank statement has, I might be able to help⁠ you there.

Send me an email, if you wish.

 

[Sols]

I don't know why the myth that Seychelles IBCs don't need to keep accounting records‌ persists. Seems like something service providers should be more aware of. The law is really‍ clear. However, enforcement is very lax - if happening at all.

But there are as of yet no filing requirements, so your︆ bank can't expect you to provide that.

If you are worried about your situation, hire︇ an accountant to do the books for you and consider hiring an auditor to get︈ it audited.