Bermuda vs Seychelles: which jurisdiction wins?

Bermuda vs Seychelles — both credible, very different trade-offs. Below: side-by-side on the variables that actually move the decision.

	Bermuda	Seychelles
Tax headline	0% (15% CIT for in-scope MNEs from 2025)	0% on foreign-sourced income (IBC)
Formation days	7	3
First-year cost	$6,500	$1,500
Treaties	Limited	28+
Substance	Economic Substance Act 2018	Light substance for IBCs
Banking	Butterfield, HSBC Bermuda, Clarien	Limited; rely on EMIs and intros

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