Seychelles

Seychelles

 

For a few hundred years, Seychelles changed ownership several times between the French and the British. In 1814 it came under British rule and then gained independence in 1976. This island State is located in the South-Western Indian Ocean. The total land area of Seychelles is 455.3 square kilometres, consisting of 115 islands. With a land area of 148 square kilometres the island of Mahe, the seat of the government, constitutes about one-third of the total land area. The two other islands of major importance as to size and population are Praslin and La Digue; 33.6 km and 48 km from Mahe, respectively.

The population of Seychelles originates from French and British settlers, African plantation workers and traders from India, China and the Middle East. The Seychelles is linked to major European, African and Indian destinations by major international air carriers. Excellent telecommunication is provided by two major international companies.

Incorporation

Incorporation in Seychelles

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Type of company: International Business Company or IBC. This being very similar to widely known BVI IBCs. Currently there are in excess of 12,000 IBCs incorporated. The formation, taxation and structure of a Seychelles IBC is regulated by the Seychelles International Business Companies Act 1994.

Who can incorporate: Registered agent and trust company licensed under the International Corporate Services Act.

Time to incorporate: In most cases including reservation of name, an IBC can be incorporated within day, being the fastest in the world.

Registration fee: A Seychelles IBC pays the following annual license fees:

  1. $ 100 per annum for companies with authorised capital of up to $ 5000.
  2. $ 300 per annum for companies with authorised capital of up to $ 50 000.
  3. $ 350 per annum for companies with no-par-value shares.
  4. $ 1000 per annum for companies with authorised capital exceeding $ 50 000.

Shelf company availability: Yes. We always have a number of already existing companies for sale. These companies are “clean”, that is to say, they have never traded or engaged in any transaction whatsoever.

Approved company name: Uniquely Seychelles also caters for “Approved company name”. The “APPROVED” company names have been approved for registration, but still need to be registered in the Registrar of Companies. The registration of an approved company name usually takes one business day.

Taxation: A Seychelles IBC is not subject to any tax or duty on income or profit. It is also exempts from any stamp duty on transfer of property. This exemption operates for 20 years from the date of incorporation.

Minimum annual government fee: A Seychelles IBC pays the following annual license fees:

  1. $ 100 per annum for companies with authorised capital of up to $ 5000.
  2. $ 300 per annum for companies with authorised capital of up to $ 50,000.
  3. $ 350 per annum for companies with no-par-value shares.
  4. $ 1000 per annum for companies with authorised capital exceeding $ 50,000.

Secrecy and disclosure of beneficial owner: Confidentiality is one of the key features as details of the company beneficial owners, directors and shareholders are NOT part of public record. This information is kept only at the offices of the Registered Agent in complete confidentiality.

Bearer shares: The use of bearer shares are permitted although certain procedural restriction may be imposed soon. For example in the future the bearer shares may be required to be deposited with approved custodian companies. As the use is now discouraged it is expected that the annual fee for bearer shares company may also be raised in the future.

Standard minimum paid up: None although US$1.00 is common.

Standard Authorised capital: None but US$5000.00 being the smallest is common.

Permitted Currency of capital: Any currency although the use of US$ is the most common.

Minimum number of shareholder: One and there is no residency or nationality requirement. He may be either a physical person or a corporate body. Meeting of shareholders may be held anywhere in the world.

Minimum number of directors: One and there is no residency or nationality requirement. He may be either a physical person or a corporate body. Meeting of directors may be held anywhere in the world.

Requirement to prepare and file account: A Seychelles IBC does have an obligation to prepare accounts but does not have an obligation to audit or file the accounts.

Company secretary: There is no requirement to have company secretary, resident or otherwise. However it is customary to appoint one in which case our qualified secretary may be appointed.

Company seal: Not required but if one is adopted then it must be used by the authority of directors.

Public records of directors and shareholders: No required.

Access to Double Tax Treaty: No.

Requirement to file annual return: No.

Change of domicile: Yes for in and out.

Local registered address: An IBC must have at all time a registered office address in the Seychelles which shall be maintained at its registered agent’s address.

Data Sheet

Seychelles IBC Corporate Data Sheet

Type of companyIBC
Common or civil law jurisdictionsHybrid
Shelf company availabilityyes
Time to incorporate24-48hrs
Min. annual duty or franchise feeUS$100.00
Annual return filling feenil
Taxationnil
Disclosure of beneficial ownershipTo Registered Agent & Trust Company
Bearer sharesAllowed
Standard minimum paid up capitalUS$1.00
Standard authorised share capitalUS$100,000.00
Permitted currency of capitalany
Minimum number of shareholders1
Minimum numbers of directors1
Corporate directorsyes
Local directorsNo
Company secretaryNo
Company sealYes
Public record of directorsno
Public record of shareholdersno
Location of directors meetingAny where
Location of shareholders meetingAny where
Telephone board meetingYes
Access to Double taxation treatyNo.
Requirement to file accountNo
Requirement to file annual returnNo requirement to file annual return
Change in domicileYes
Local registered addressRegistered Agent’s address
Who can incorporate?Registered Agent

Banking Options

Click the link below to see the banking option we have for Seychelles Company.

Seychelles Company Banking Option

Inquiry

How can I get more information on company formation in Seychelles?

Please contact us if you wish to open a company in Seychelles and we will be pleased to discuss your Seychelles offshore company formation matters in greater detail.

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