Investing in an offshore location has been one of the profitable dimensions for business owners and high-net-worth individuals at a global level. Seychelles has turned out to be a favorable ground among popular tax havens as it provides a suitable business environment. On the investment front, the region offers the investors to invest in a 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.
Seychelles Offshore Company Incorporation
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, making the region one of the stable and independent business environments. Seychelles offshore company incorporation involves a few steps that can be completed with the guidance of an expert within a short span.
What is a Seychelles Special License Company?
A Seychelles SLC 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-exempt entity, whereas a SLC is a tax resident of Seychelles. When it comes to offshore company formation in Seychelles, it can be done by creating a domestic company in the form of a Seychelles Special License Company. A CSL can is mostly utilized on the following grounds:
- Offshore banking
- Offshore insurance and reinsurance
- Intellectual property holding
- Investment services
- Holding company
Essential Requirements to Start a Seychelles Special License Company
To start a CSL, one has to make sure to fulfill the below-mentioned requirements:
- The presence of at least two shareholders
- The 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 Seychelles Special License Company?
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 in the relevant proceedings. Experts like Business Setup Worldwide can help you sort the processes with 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 should include the following:
- 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 Obtaining Business License
Once the documents are submitted, they get 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 the Companies (Special Licenses) Act.
4. Open a Corporate Bank Account
The last step is to proceed with an offshore company with bank account, which will help the business deal with the business transactions at ease.
How Can We Help?
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 its 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 Seychelles Special License Company, feel free to have a word with our business experts. Contact us today- we’d be glad to assist.
What is a Seychelles Special License Company (SLC)?
An SLC is a type of offshore company incorporated in the Seychelles. It's designed for specific purposes, such as international trade, holding investments, and asset protection.
What are the main advantages of forming an SLC in Seychelles?
Some advantages include tax benefits, confidentiality, no requirement for an annual audit, and minimal reporting obligations.
Who can own and manage an SLC?
Individuals, corporations, and other legal entities from any country can own and manage an SLC.