Investing in an offshore location has been one of the profitable dimensions for the business owners and high-net-worth individuals at a global level. Seychelles has turned out to be a favorable ground among the popular tax-havens as it provides a suitable business environment. On the investment front, the region offers the investors to invest in Special License Company, also known as CSL.
By the end of the guide, you will be in a better position to understand the essentials required to establish an SLC in Seychelles or invest in Seychelles offshore company formation.
Offshore Company Incorporation in Seychelles
Selecting an offshore jurisdiction is an important part when it comes to the establishment of an offshore company. The offshore industry is one of the main drivers of the economy of Seychelles that makes the region one of the stable and independent business environments. Starting an offshore company in Seychelles involves a few steps that can be completed with the guidance of an expert within a short span.
What is a Seychelles CSL?
A Seychelles CSL gets incorporated under the Companies Act 1972, under a special license under the ‘Special License Act 2003’. It is a well-known fact that the International Business Company (IBC) is one of the common forms of offshore company incorporation. However, an IBC stands as a tax-exempted entity, whereas a CSL is a tax resident of Seychelles. When it comes to offshore company formation in Seychelles, it can be done by creating a domestic company under the form of a Special License Company. A CSL can is mostly utilized in the following grounds:
- Offshore banking
- Offshore insurance and re-insurance
- Intellectual property holding
- Investment services
- Holding company
Essential Requirements to Start a Seychelles SLC
To start a Seychelles Special License Company (CSL), one has to make sure to fulfill the below-mentioned requirements:
- Presence of at least two shareholders
- Presence of at least two directors
- One company secretary
- A stated, registered address
- The minimum share capital of at least 1 USD
How to Start a CSL in Seychelles?
A business investor needs to undergo the following steps to incorporate a CSL in Seychelles.
1.Select a Certified Business Consultant
To proceed ahead, it might turn out to be a troublesome process if you are not well-versed with the relevant proceedings. Experts like Business Setup Worldwide can help you to sort the processes at ease and in a hassle-free way.
2.Get Handy of the Relevant Documents
A company gets incorporated only if the relevant documents are submitted accordingly. To start a Special License Company in Seychelles, one has to present the following essentials:
- Covering letter
- A duly filled application form which should include:
- Name and details of the secretary
- Registered company address
- Name and contact details of the auditors
- Name and contact details of the legal advisor
- Information regarding the company’s share capital
- Declaration certificates by the directors of the company
- Declaration certificates by the shareholders of the company
- A well-drafted business plan
- Due diligence documents
- Memorandum and Articles of association
- Copy of passport and visa of the shareholders
- Residential proof of the company shareholders
3.Verification of the Documents and Obtain Business License
Once the documents are submitted, it gets verified by the Seychelles International Business Authority (SIBA). Once the certificate of incorporation gets issued by the Registrar of Companies, SIBA will issue the respective business license, under section 9(1) of Companies (Special Licenses) Act.
4.Open a Corporate Bank Account
The last step is to proceed for an offshore company bank account, which will help the business to deal with the business transactions at ease.
The incorporation of a company holds multiple steps that need to be aligned accordingly. The legal proceedings are to be completed in an error-free manner, and thus it is recommended to proceed with certified business experts. Well, to get better clarity on the benefits that you can avail, read our latest blog on Four Core Reasons to Hire an Offshore Business Consultant.
Since inception, we at Business Setup Worldwide has been helping numerous business clients to set up their offshore company in multiple offshore jurisdictions. With a team of experts, we look forward to providing simple and straightforward business incorporation solutions in a hassle-free manner. If you are looking forward to starting your particular license company in Seychelles, feel free to have a word with our business experts. Contact us today-we’d be glad to assist.