Seychelles officially called the Republic of Seychelles. Its an extensive group of islands and a country in the Indian Ocean towards the eastern side of the continent Africa. Madagascar lies to the south-west to the Seychelles, with other nearby islands like Comoros, Mayotte (region of France), Réunion (region of France) and Mauritius. In recent few years, the stable and self-governing democratic country has been able to provide various facilities to the international market, mainly includes foreign investment opportunities, company formation and insurance.
The national currency of Seychelles is Seychelles Rupee which was devalued, in order to attract more and more Foreign Investment in the Seychelles Economy. Seychelles, with GDP more than 1.4 Billion and HDI (Human Development Index) being pretty high compared to other African Countries nearby. International Business Company Law here is quite inexpensive, flexible and most importantly simple compared to the renowned offshore jurisdictions like Panama and BVI (British Virgin Islands).
Seychelles, in no time, has become quite a popular choice amongst the offshore jurisdiction due to its lower cost of company setup compared to alternative jurisdictions. However, its economy is predominantly based on tourism and fishing. As mentioned above, due to its reasonable and stable government laws for international business companies, the government is encouraging foreign investment in the form of offshore company formation in Seychelles. Perhaps making it a significant contributor to the economy of the Republic of Seychelles.
Similar to other popular jurisdictions, Business Companies within the Republic of Seychelles are not liable to any taxation.
However, the prerequisite for the Business Company to find a no taxation certificate is that it has to be locally and not as an offshore company. Here at Seychelles you also have the alternative to acquire an already formed company or simply form a new one, this can save you both money and time. Companies don’t have to create and submit an accounting report. International Business Company can be formed within 14 days after the submission of necessary documents. However, unlike other jurisdictions, here in Seychelles the company has to maintain a registered office, besides appointing a Seychelles citizen as a registered agent.
Seychelles can get banking, insurance and broker licenses.
The Republic of Seychelles has signed more than 25 double tax treaties, signed with major international business centres such as the Netherlands, Mauritius, Cyprus, Singapore. Even though the official language of the Republic of Seychelles is English, French, Seychellois Creole, the International Business Company with a Chinese name can be formed.
Here is quick fact check of the Seychelles Offshore Company:
Privacy is protected in the Seychelles under Art. 20 of the Constitution. Data detained by the Seychelles registered agents is not public information.
|Company Type||International Business Company (IBC)|
|Governing corporate legislation||Seychelles International Business Authority (SIBA) is the governing authority and the companies are regulated under the IBC ACT 1994.|
|Information published relating to company officers||There is no public register of company officers.|
|Accounting requirement||No accounting / reporting requirements.
However, Section 65 of the IBC Act, 1994 (Amended) requires the company to keep such documents (receipts, invoices etc.) as to enable it for accounts to be prepared.
|Taxation||No taxes of any sort.|
|Legislation||Modern offshore legislation modelled on BVI.|
|Time to form||Seychelles has a fast and efficient registry (name and incorporation/registration usually same or next day).|
|Stability||Stable jurisdiction with very good reputation.|
|Communication||Efficient communication means.|
|Time zone||Convenient world time zone: GMT+4|
|Paid up capital requirement||No paid up capital requirement.|
|Basis of legal system||Under Common Law.|
|Minimum directors/shareholders||Minimum of 1 director/shareholder.|
|Bearer shares||Bearer shares are not permitted.|
Documents required for the Seychelles Company Formation are a certified copy of the passport (or identity card), as well as a proof of domicile dated less than three months. A bank reference wherever required.
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