Seychelles

Introduction

Seychelles offers attractive offshore formation opportunities through an International Business Company (IBC) to businesses seeking the benefits of a secure, confidential and tax efficient environment. Seychelles has been offering clients offshore formation packages since the passing of the International Business Companies Act in 1994, and has grown rapidly in the sector due to its flexible structure, exceptional protection regulations and enabling legislation, making it among the best jurisdictions for offshore company formations. Seychelles is a flourishing offshore financial center; its formation market has become one of the fastest growing company registries in the world due to its efficacy, innovation and its broad range of offshore services. Investors and businesses are flocking to Seychelles, taking advantage of its low cost, strict confidentiality laws and flexible incorporation regulations making the formation process simple and efficient.

If you are looking for a jurisdiction with firm privacy regulations and tax-free opportunities in a supportive offshore environment, Seychelles may be the perfect choice for your next offshore company formation. Our key services include IBC incorporation, bank account opening and application of regulated licenses in Seychelles.

Features and Advantages

  • Value for money – low annual Government license fee, irrespective of the amount of the authorised share capital of the company
  • Fast incorporations and name approvals – same day incorporation
  • Privacy and asset protection – only required to file the register of directors with the Seychelles Registry (not accessible publicly). As for register of members and beneficial owners, they are only required to be kept at the registered office in Seychelles which is not accessible publicly.
  • Ease of administration – no requirement to file financial accounts in Seychelles unless the IBC conducts business in Seychelles
  • Acceptability to international banks – Seychelles is not on the OECD or FATF blacklists
  • Seychelles is a stable and independent Country – not being a dependent overseas territory of a European state, Seychelles is not subject to ever-growing EU Directives.
  • Chinese Company name and Chinese Memorandum and Articles of Association can be registered with the Registrar
  • All civil proceedings with respect to IBCs may be heard by a judge in Chambers
  • Seychelles has a territorial tax system such that a Seychelles tax resident is liable for Seychelles tax on Seychelles sourced income but not on foreign sourced income
  • Able to obtain TIN if the IBC is able to fulfill record keeping requirements

Summary

Type of Company
International Business Company (“IBC”)

Time to Incorporate
1-2 working days

Disclosure of Director / Shareholder Information / Beneficial Owner
Disclosure of Director / Shareholder Information / Beneficial Owner Information of director(s), shareholder(s) and beneficial owner(s) is not accessible publicly, however a copy of the Register of Directors must be filed with the Registrar of Companies.

Taxation
A Seychelles IBC is now tax resident in Seychelles and no longer tax exempt. If an IBC carries on business in Seychelles it must pay Seychelles business tax. If an IBC only source foreign income, it is not liable for Seychelles tax on any of its income or profit. Seychelles has a territorial tax system such that a Seychelles tax resident is liable for Seychelles tax on Seychelles sourced income but not on foreign sourced income.

Minimum Director
At least 1 director who can be natural person or corporate body

Minimum Shareholder
At least 1 shareholder who can be natural person or corporate body

Audit Requirement
No audit requirement for accounts

Filing of Accounts
Required to prepare accounts / Accounts are not accessible publicly

Filing of Annual Return
Mandatory with Registered Agent

The information in this article is of a general nature only. We have made every effort to ensure that the information included herein is up-to-date and accurate, we do not accept any responsibility for any inaccuracy, errors or omission. We strongly recommend that applicable professional advice be taken prior to purchasing any company.

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