seychelles

KEY CORPORATE FEATURES
Approximate time to incorporate 2 days
Minimum number of Directors 1
Local Director required No
Local Secretary required No
Shareholder required 1
Disclosure of Beneficial Owner requirement No
Audit Requirement No
Accounts Filing Requirement No
Taxation Nil

Seychelles

flag seyschellesThe Seychelles, once a British colony, are located in the Indian Ocean and is an independent commonwealth country, based partially around the British Law that once ruled it.

For a quotation to incorporate in the Seychelles or for more information about offshore company formation the Seychelles, click here

Taxes

All profit obtained outside the Seychelles is non taxable, so unless you conduct business within the Seychelles, you will not be liable for taxes.
This provides opportunities for start-up companies, small businesses and wealthy individuals to start their international business company.

Language barriers

English and French are widely used in the Seychelles, especially in business, although a large majority of the population speaks Creole in their day to day life.

English is not the first language of most people from the Seychelles but in government and business you will find it spoken widely and often fluently, this should make business transactions easier for your Seychelles offshore company.

Economy

The Seychelles officially use the Seychelles Rupee (SCR) as their currency, and their economy rests mainly with fishing and tourism.
It is a relatively stable and growing economy that has flourished since the country gained independence in 1976 and is attempting to gain further economical independence from the tourism industry.

Rules and Regulations

  • Your company must have an office registered in the Seychelles
  • You must have at least one director, who does not need to be resident in the Seychelles and whose name will be shown on public record.
  • There are no requirements for an annual meeting of shareholders, although if one is arranged it may be done in any country and using any type of communication desired.
  • If you have a meeting of shareholders, you must take accurate minutes, which must be kept at the registered office in the Seychelles, regardless of where the meeting took place.
  • In a meeting of shareholders or directors, you may nominate someone to stand in instead of a shareholder or director, who will be permitted to speak on their behalf.
  • You must have at least 1 shareholder, this can be the same person as the director and may be a person or corporate body, and may reside in any desired place.
  • Shares do not need to have a par value before being issued and may be issued for either money or other valuable commodity.
  • You are not permitted to engage in business with local Seychelles residents or to own property in the Seychelles.
  • The name of your company may be in any language, although if it is not in either English or French a translation must be provided in either of these languages.
  • The name of your company must demonstrate its limited status, and therefore end in such words as limited, ltd, corporation etc.
  • You may not choose a name that would indicate you are part of a government or bank, and prior permission must be granted before using names such as ‘chamber of commerce,’ ‘building society’ or ‘bank.’
  • You do not need to submit annual accounts or financial statements, although there is an annual fee payable on the anniversary of the formation of your Seychelles offshore company.
  • You do not need to hire an auditor, as accounts do not need to be submitted.

The rules and requirements for Offshore Company Formation in the Seychelles are fairly relaxed, not as much as some other countries, but the incentive of a tax free haven to create your International Business Company is the attraction for many to the Seychelles.