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Why Seychelles?

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.

Population
population
90,846
Currency
population
Seychellois Rupee SCR
GNI Per Capita
population
US$ 12,530
Region
population
East coast of Africa & India (Indian Ocean)
Political Overview
population
Hybrid

Fiscal Advantages

  • Corporate taxation is nil
  • There are no Double Taxation Treaty Access agreements
  • One of the most sought after incorporation – the Seychelles International Business Company, is a tax free corporation
  • Zero taxes levied
  • Secure offshore banking
  • No exchange control regime
  • Stamp duties, nil


Regulatory Advantages

  • Seychelles is politically stable and independent, with the best privacy offered by the law
  • A nominee may act as shareholder or director, this is permitted by law
  • One IBC can act as a nominee for another incorporation, further strengthening the secrecy armour
  • Bearer shares are permitted
  • 20 year tax exemption from local taxation, from the first day of company incorporation
  • Fastest incorporation


Limitations

  • IBC’s must have a registered office and licensed registered agent in Seychelles
  • The rights of a subscriber are limited to the appointment of the first Director/s

Company Formation

  • Seychelles International Business Company (IBC)
  • Special License Company
  • Seychelles International Trust
  • Seychelles Limited Partnerships


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: 

  • It may not conduct business in Seychelles 
  • It may not own real estate in Seychelles 
  • It may not do banking, insurance and registered agent business without special license 


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. 

  • The ability to bypass foreign blacklisting by being a low-tax company 
  • Accessibility of double tax avoidance treaties concluded by Seychelles 
  • Low-tax, offers the advantage of going unnoticed or lesser scrutiny & suspicion 
  • Formally permitted to do business or operate within Seychelles, limited but extremely useful for businesses 
  • CSL is the elected entity to operate under the Seychelles International Trade Zone License 


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.

  • Original certificate of incorporation
  • Memorandum of association
  • Articles of association
  • Resolutions dealing with appointments and allocations
  • Nominee director
  • Nominee shareholder
  • Share transfer forms or trust declarations
  • Powers of attorney
  • Other documentations

Taxation, Laws & Regulations

  • Tax-free, IBC
  • 1.5%, CSL
  • No corporate taxes levied
  • No withholding taxes on dividends levied for any form of company
  • No interests and royalties
  • No stamp duties levied
  • No double tax treaties levied, for IBC

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.

Immigration & Visa Requirements

Documents required:

  • A valid passport
  • A return ticket
  • Proof of accommodation
  • Satisfactory funds for the duration of stay

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).

Worker's Permit

  • The Worker's Permit allows the holder of this permit to work for a profit in Seychelles either as an employee or as a businessman
  • Forms for a worker's permit must be lodged at least 10 weeks prior to beginning work and entry is forbidden into Seychelles for work if this permit has not been issued
  • The application must be completed by the same person in the case that it is a businessman or by the future employer in the case that it is an employee


As for the procedure to obtain the workers permit; the following factors are taken into account:

  • Personality, reputation and the health of the applicant and a member of the immediate family to verify for the permit
  • The professional or technical expertise of the applicant
  • The availability of persons who are already employed in this sector within the Seychelles
  • The protection of local interests
  • The financial or social benefits that will possibly be provided as an employee or the increase that will follow with his/her presence
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