The modern concept of offshoring has become mind-boggling among international investors looking forward to investing their funds to grab higher profits.
One of the favorable jurisdictions that can be focused on to yield higher profits is Seychelles- an ideal and profitable tax haven.
Seychelles is often opted by foreign business investors to set up their business to grab the benefits of taxation and privacy.
In this treatise, we will walk through the process to be followed by a foreign investor to incorporate an offshore company in Seychelles.
Offshore Company in Seychelles
A stabilized, favorable and effective financial destinations that turn out to be a perfect ground, the business investors experience an ideal base for tax-effective solutions to carry out the business operations.
For the offshore company set up, the foreign investors prefer to proceed with an International Business Company (IBC), regulated under the IBC Amendment 2018.
An offshore business in Seychelles is suitable for different business activities, right from trading to e-commerce and consultancy business.
Seychelles International Business Act
The government has been made several changes to the IBC Act 1994 and has provided transparent proceedings when it comes to offshore companies set up in Seychelles.
Today, the offshore business is registered under Seychelles International Business Act 2016, and as per the new rules, a business investor needs to come forward and file the company documents with the company registrar.
Types of Business Entities for Seychelles Company Incorporation
Just like the other popular offshore jurisdictions, Seychelles too, provide the flexibility to the business owners to come ahead and proceed with different business entity structures.
A few of the widely selected offshore business structures that a foreign investor can proceed ahead to incorporate in Seychelles include:
- Investment in International Business Company (IBC)
- Investment in Onshore Company
- Limited Partnerships- for Joint Venture Activities
- Protected Cell Companies- for protection of company assets
- Trust Company
- Foundation Company
- Special License Company (SLC)
- Anonymous Company
- Proprietary Company
- Investment Funds
Features of a Seychelles Offshore Company
A few of the characteristics that one must keep in mind while incorporating an offshore company in Seychelles include:
- No minimum paid-up capital requirement
- It can be incorporated with the presence of one director and shareholder
- The company meetings can be held anywhere
- No residency or nationality requirement for the shareholders and directors
- No compulsion to prepare the company accounts
What is the Process to Start an Offshore Company in Seychelles?
Any foreign investor who wants to open an offshore business in Seychelles has to go through a few steps:
1.Get in touch with an expert
Any foreign investor might find it challenging to understand the legal proceedings of a foreign land when proceeded alone. At the same time, it is to be noted that any hindrance might abort the process in between.
Therefore, it is advised to proceed under the guidance of an expert who has a complete idea of the offshore company proceedings.
2.Be ready with the company papers
In the second step, you need to be clear with the respective set of documents that the company registry will require.
In Seychelles, the offshore company registration process demands the company investors to submit the following papers:
Only certified passport and certified proof of address
Additional documents (Bank Reference Letter, Business Plan and CV)
3.Get the approvals
The complete set of documents are to be submitted to the government officials of the jurisdiction and get the approvals post-inspection of the submitted docs.
4.Open an offshore bank account
Finally, it leads to an offshore bank account that is essential to carry out the business transactions at ease.
Opening an offshore bank account can help a business investor to enjoy numerous benefits, and to know more, it is recommended to go through our latest guide: Advantages of Offshore Banking.
In a nutshell, you have got a complete idea about the core steps that are to be followed by the foreign business investors to proceed ahead with the offshore company incorporation in Seychelles.
Wondering what’s next?
Well, it is to get the guidance of an expert.
Confused whom to choose?
Don’t worry! Your guide is just below.
At Business Setup Worldwide we take care of the business incorporation proceedings. Our business experts are well-versed with the company setup process and can guide you through incorporating your offshore company in Seychelles by providing tailored solutions.
To start your offshore company in Seychelles, feel free to have a word with our business advisors. Contact us today-we’d be glad to assist!