Regarded as the tax haven, Seychelles is the most preferred business destination for investors who want to expand their businesses by making the tax planning more effective and protecting their assets by forming a Seychelles offshore company. The country is a popular offshore financial centre and a growing international company incorporation market. Seychelles offshore company is a universal instrument for asset protection and tax planning techniques. It offers a smooth and fast incorporation procedure, requires a low start-up budget, and no financial reporting requirements through the company’s lifetime.
About Offshore Company in Seychelles
Also known as ‘Seychelles IBC Companies’, Seychelles offshore businesses are only allowed to conduct operations and sign contracts with entities based outside of Seychelles. An IBC registered in Seychelles is tax-free and is structured in such a way that it can perform any form of international business with a very little record-keeping and recording requirements. An IBC also comprises of several features which maintain strict confidentiality throughout.
The Seychelles Business Act that was introduced in the year 1994 has seen the registration of more than 30,000 IBS with over 600 companies being registered each month.
Benefits of Opening an Offshore Company in Seychelles
The benefits of an IBC business setup in Seychelles are –
- The earnings of an IBC company are fully tax-exempt as this company is not considered as resident for tax purposes
- Investors can register a Seychelles company with a Special License Company (CSL), and such company is tax resident but benefits from a reduced corporate tax rate of 1.5% over its global earnings
- Smooth repatriation of capital outside Seychelles
- No publicly available records of the details of the beneficial owners of a Seychelles formed a company
- No statutory requirements for annual filing of accounts of the company return for IBCs
Characteristics of an IBC in Seychelles
- Only one director and one shareholder are mandatory, who can be the same person. They can be corporate individuals and not necessarily residents of Seychelles
- The offshore companies in Seychelles are not subject to corporate tax, annual returns, and audit requirements
- No requirement to submit financial statements, however, must be prepared and kept at the office of the company’s registered agent
- No access to Double Tax Avoidance treaties
- One company secretary is required who must be the resident of Seychelles by law
- An IBC must have a registered office in Seychelles, provided by an authorised registered agent
- Annual general meeting of shareholders is not mandatory and can be held anywhere
- There is no minimum subscribed and paid-up capital required, and it may be denominated in any currency
Types of Company Registered in Seychelles
Even if the primary impression is that the foreigners only set up offshore businesses in Seychelles, the regulation also provides for other types of entities and structures which can be set up by regional or foreign entrepreneurs which are –
- Special license companies (CSL) for having onshore financial activities
- Anonymous businesses which can be used for onshore trading activities in Seychelles
- Proprietary companies which are equal to a foreign LLC
- Trusts which can take two methods and can be used for asset security purposes
- Investment funds can also be incorporated by foreigners who come to Seychelles
How to Incorporate a Seychelles Offshore Company
Before starting a company in Seychelles, the investor must consider a few things. One of them is having a registered agent who will handle the incorporation procedure with one of the departments in charge of accepting and issuing the Certificate of Registration for local companies.
Another essential thing to consider is, the investor must choose a local legal address and appoint a resident director for the Seychelles Company.
Once these procedures are completed, you can start the process of offshore company registration in Seychelles. The documents required to complete the process are –
- Trade name registration copy
- Personal information of the shareholder
- Report on the company’s director and proof of their residency must be provided
- The official address of the Seychelles company must be submitted for incorporation
How Can We Help?
Business Setup Worldwide is a platform to help you set up an offshore company in Seychelles. We provide services like business formation, bank account opening, IP, accounting and bookkeeping and much more. Everything can be arranged and completed online or with the assistance of our experienced team.
You are just one click away from setting up your offshore company in Seychelles. Contact us for more information