Company Formation Seychelles
Updated on Tuesday 08th May 2018
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BridgeWest offers full company formation packages in Seychelles, in order to cover any of your various business needs: opening representative offices, establishing branches or subsidiaries, starting an NGO, providing accounting services or legal consultancy, tax planning and tax minimization strategy.
Offshore Company Formation in Seychelles
Seychelles is an offshore jurisdiction which offers advantageous conditions for the foreign entrepreneurs. An offshore company mustn’t pay any tax on income or profits and neither the shareholders of it. The confidentiality of the members’ identity is assured. There is no minimum capital for opening an international business companies in Seychelles. No accounts must be submitted.
STEPS FOR COMPANY FORMATION IN SEYCHELLES
The International Business Companies are offshore companies that usually are organized as the companies limited by shares. In order to incorporate an offshore company in Seychelles, the following easy steps are required:
1. For the IBC to be registered in Seychelles, a Registered Agent must be appointed.
2. Entrepreneurs are advised to check the availability of the desired name of the future company. The registration is made based on the Memorandum of Association and the Articles of Association in the Seychelles Register of International Business.
3. Thirdly, submit a project proposal to get it approved by the Government of Seychelles. After obtaining an approval for your project proposal, you must then begin the process of obtaining the required licenses.
4. The next step is registering your business with the appropriate authority.
A Seychelles International Business Company can be incorporated in 2-3 business days
REQUIREMENTS FOR OFFSHORE COMPANY FORMATION IN SEYCHELLES
- The company opened in Seychelles must be formed by at least one shareholder and one director;
- All the members may be foreigners in an international business company except for the registered agent;
- The register agent must be a Seychelles resident;
- It’s mandatory to have a registered office in Seychelles;
- The meeting may be kept in other country and the members can even participate without their personal presence;
- Certain activities are not allowed to be performed without a special license, such as the activities related to the banking, insurance, reinsurance and investment sectors;
- IBCs cannot perform any commercial activities in Seychelles nor have real estate here;
- Only if your annual sales turnover exceeds 5 millions SR, the registration is mandatory. The standard rate for VAT in Seychelles is 15%.
SERVICES PROVIDED FOR SEYCHELLES COMPANY INCORPORATION
- drafting the Articles of Association (necessary for the company incorporation in SEYCHELLES; The Articles of Association of the SEYCHELLES company can be signed through Power of Attorney.
- drafting all other documents required for the incorporation of the SEYCHELLES company; these documents include: Specimen Signatures, Special Forms provided by the Company Registration Office in SEYCHELLES, passport copies etc.
- offering a Registered Office in SEYCHELLES for your company, which is mandatory to have for starting a business in this offshore jurisdiction. (The registered office may be any address where the SEYCHELLES Company declares to have its headquarters)
- setting up a bank account for your SEYCHELLES company.
SEYCHELLES KEY FACTS
- There are many forms of business in Seychelles, but the popular ones are the companies limited by shares, the companies limited by guarantees, public companies, international business companies, special license companies and limited partnerships.
- The International Business Companies Act 2004 and the Companies Act 1972 contains all major regulations regarding the way the companies are registered and organized in Seychelles.
- To open an international business company, a registration fee is requested and it has the value of 100 USD.
- The yearly license fee for an IBC is only 100 USD and will remain the same regardless of the company’s capital.
- The special license company is a form of business that can be performed by foreign investors that wishes to perform certain type of business such as the offshore banking and insurance, reinsurance or banking investments.
- For performing these activities, a special license is necessary to be received from the Seychelles International Business Authority.
- Seychelles’ workforce is well educated and mostly inexpensive. Most of the workers speak English and French and this is considered an advantage by the foreign companies.
- Located in the Indian Ocean in the north of Madagascar, Seychelles offers besides the tourism opportunities many incentives for foreign investors.
- The economy is mostly based on tourism, mainly because of the great infrastructure. The farming and fishing also brings its contribution to the budget.
Bridgewest provides company formation services in SEYCHELLES. Please contact us for more information and prices.