IBC's cannot carry on business within the Seychelles and cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management or any other activity that would suggest an association with the banking and insurance industries.
A Seychelles IBC cannot sell its shares to the public or own real estate.
The following are not construed as carrying on any business in Seychelles ：
- Maintaining records and a bank account in Seychelles;
- Using the services of a professional firm;
- Holding meetings of shareholders and directors;
- Holding a lease of property for use as an office;
- Holding shares or other securities in another Seychelles company;
- The memorandum of association must contain the name and address of the Seychelles registered agent.