Seychelles is currently notable for being one of the few classic offshore jurisdictions where attractive conditions for doing business remain. As a consequence, company registration in Seychelles continues to be a rather interesting option for many entrepreneurs.
Types of legal forms available for registration in Seychelles
International Business Company (IBC
The IBC structure allows for a minimum of one director and one shareholder (natural or legal persons) who are not subject to residency requirements, which means that participants can be residents of any country and the company can be established with 100% foreign participation.
Although there are discussions about the possible creation of an open register of beneficiaries, directors and shareholders, the register is currently closed.
A local registered agent (“company secretary”) is a prerequisite and must be named in the memorandum.
A local office is a prerequisite and this is usually located at the registered agent’s office.
Registration procedure
1. Before registering a company it is necessary to define:
Company name to check for uniqueness (at least three variants).
Company structure (director, shareholder, beneficiary, attorney).
Amount of authorized capital and distribution of shares among shareholders.
Type of the company’s activity.
2. Documents for directors/shareholders/beneficiaries/attorneys must be submitted:
Certified valid ID (passport or Identity Card)
Certified proof of address: utility bill, telephone bill, bank statement, which should not be older than one month, or passport with residential address – not older than 3 months
Bank statement (not older than 3 months)
CV
The attestation on the document must contain the name, details and stamp of the person attesting the document.
If the document is in a language other than English, a translation into English will be required, followed by an attestation.
3. Submission of the application and the required forms for company registration
4. The term of registration of a new company is 10 working days
5. At the end of the process, all finished documents and the seal (on request) will be sent to the address specified by the founder.
Taxation
Income tax: the rate depends on where the company earns its income and varies from 0% to 33% of the amount of profit (income less expenses).
Value added tax has a standard rate of 15%.
One of the important advantages for an investor in Seychelles is the absence of taxation of non-resident company profits. Profits derived from foreign sources are not subject to taxation in Seychelles.
Reporting
Any company after incorporation must be registered with the Seychelles Revenue Commission for tax purposes. In this case, the company will be recognized as a legal taxpayer in Seychelles. This requirement is not to be feared if the company will generate income outside the jurisdiction. As stated earlier, in this case, the company is not obliged to pay corporate tax, even if it has a tax number.
There is a statutory requirement to submit an annual report to the registered agent, which includes information on the current registers and the address where the accounting records are kept.
Annual maintenance
1. Annual fee (payable to the Government of Seychelles in each year from the date of incorporation of your company)
2. Annual Fee (payable to the agent for services)
3. Compliance Fee
Please complete the contact form for information about this service
Our professionals will contact you to discuss further and provide possible solutions.
Chat with our expert
