Investors paradise & a hotspot for company formations
Seychelles is arguably the best place for offshore corporation, supporting in bank secrecy. Located in the Indian Ocean, Seychelles is a favourite tourist destination for many. It is one of the most advanced centres globally, with a spirited legislature enabling easy and viable incorporations, along with maintaining secrecy & discretion.
Located in the Indian Ocean, Seychelles is an archipelago of nearly 155 islands, most of which are uninhabited.
Seychelles International Business Company (IBC)
Seychelles IBC is regulated by the Seychelles International Business Companies Act 1994. Designed to participate in all forms of international business, Seychelles IBC is a tax-free corporation and subjected to minimum law restrictions. While it is necessary to maintain records and registers in order, it is not required to show these financial records to the public or authorities. Mandatory audits are not required.
The following are mandatory to qualify as an IBC:
Special License Company (CSL)
Introduced in the Seychelles Companies Act 2003, the Special License Company, commonly known as CSL, is expensive and complex, but has many benefits to it.
Seychelles International Trust
Governed by the Seychelles International Trusts Act 1994, the amendments were made in the International Trusts Act 2011, further making it desirable with greater flexibility. Incorporated in conjunction with the Seychelles IBC, to add an extra layer of legal protection, and enable the beneficiaries to defer or avoid any possible tax on the profits of the IBC for an indeterminate period.
Seychelles Limited Partnerships
Regulated by the Limited Partnership Act in 2003 and amended in 2011, they are formed to carry out business outside Seychelles. A limited partner may or may not be a resident of Seychelles. The general partner of the partnership should maintain records of accounting and placed either in the registered office or any other place deemed to be fit. The limited partnership can be deregistered by filing a notice to the registrar. At least one general partner must be an IBC or a CSL.
A wide range of name endings can be used to denote incorporation and limited liability including usual international standards such as "Limited", "LTD.", "Corporation", "Corp.", "Incorporated", "Inc.", "Sociét?Anonyme", "S.A.", "Namloze Vennootschap", "Berhad", "Gmbh” etc.
The following words can NOT be used as part of an IBC name: "Assurance", "Bank", "Trust", "Building Society", "Cooperative", "Chamber of Commerce", "Chartered", "Insurance", "Imperial", "Municipal" or "Foundation".
Seychelles has the fastest registries worldwide. It takes 24hrs to 48hrs to incorporate a company.
In 2001, Seychelles announced several amendments to the current exchange control and money and trade taxation laws, to solve the growing black market in the country. Laws like, Foreign Earning Act, Exchange Control Act, Central Bank of Seychelles Act and the Trades Tax Act posed a number of loopholes that were then amended.
The above documents will grant you a visitor's visa that is provided on arrival to the Seychelles by the airport's Immigration Department. The visitor's visa is valid for a period of one month that can be extended to 3 months without any extra charge and for further 3-month periods for an amount of 200Sr (approx. €30).
As for the procedure to obtain the workers permit; the following factors are taken into account: