In its notice of 21 August 2026, the Seychelles Revenue Commission suspends issuance of Tax Identification Numbers to International Business Companies that do not conduct business in Seychelles and request one solely for banking purposes. The restriction therefore targets a category of applications, not general abolition of tax identifiers.
SRC states that issuance is reserved for IBCs receiving Seychelles-source income and those belonging to a multinational group. We note that a banking purpose must be distinguished from the characteristics of the activity and group; a company cannot base its application solely on its bank's requirement.
For an IBC receiving a bank request, the purpose of the requested document therefore needs clarification: identifying a company for tax purposes and certifying its residence answer different questions. Continued issuance of certificates does not make the two documents interchangeable for all uses. The file should distinguish the banking need from evidence of income and group membership, without inferring a general exemption regime from the latter.
In the meantime, the notice maintains issuance of tax residence certificates for banking purposes. It does not, however, specify their conditions of issue or establish an IBC's residence or entitlement to treaty benefits.