Termed as a tax haven, Seychelles is the most preferred business destination for investors who want to expand their businesses by making the tax planning more effective and protecting their assets by forming a Seychelles offshore company. The country is a famous offshore financial center and a growing international company incorporation market.
Seychelles, a member of WTO from 2015, also participate in agreements for the avoidance of double taxation (not applicable to IBC companies) with the following countries and territories: Bahrain, Barbados, Belgium, Bermuda, Botswana, China, Congo, Cyprus, Ethiopia, Ghana, Guernsey, Indonesia, Isle of Man, Jersey, Kenya, Kuwait, Lesotho, Luxembourg, Malaysia, Mauritius, Monaco, Mozambique, Oman, Qatar, SAR, San Marino, Singapore, Sri Lanka, Swaziland, Tanzania, Thailand, the UAE, Vietnam, Zambia, Zimbabwe.
How to set up a company in Seychelles?
The Seychelles International Business Authority (SIBA) is essentially a one-stop shop, licensing and regulating offshore activities. It is the Registrar of International Business companies and International Trusts, and regulates International Trade Zone activities in Seychelles.
How long does the procedure take?
The foreign investors can finish the whole process in 1-3 working days without any hassle.
Key information to Register a Company in Singapore
- Company form – International Business Company (IBC) (Private company limited by shares)
- Taxation – Seychelles imposes no tax in place for corporations that do not conduct their business activities within the Seychelles territory. In other words, an offshore company in Seychelles pays no taxes on income generated abroad. There are also no capital gains tax, dividends, interest, inheritance, or property tax.
- Liability – The liability of the shareholders for the company is limited to the amount of their respective shareholdings.
- Share capital – There is no minimum subscribed and paid-up capital required and it may be denominated in any currency. The amount of the authorized capital can be freely determined at incorporation.Shares may be issued as registered shares only, and any of these may be designated as voting shares, non-voting shares, shares having more or less than one vote per share, shares that may be voted only on certain matters or upon the occurrence of certain events, shares that may be voted only when held by persons who meet specified requirements, no par value shares, unnumbered shares, common shares, preferred shares, redeemable shares and shares that entitle participation only in certain assets.A Seychelles IBC may not issue bearer shares.
- Shareholders – An IBC may be formed by a minimum of one shareholder who can be either natural or legal persons, residents or non-residents, without restrictions. Details of shareholders are not publicly disclosed.
- Directors – At least one director is required, who may be a natural person or a legal entity, resident or non-resident, and who may be the sole shareholder. Details of directors are not available to the public.
- Secretary – The appointment of officers such as a secretary is optional, and may be an individual or a corporation, resident or non-resident.
- Registered Address – An IBC must have a registered office in Seychelles, provided by an authorized registered agent.
- General Meeting – Annual general meeting of shareholders is not mandatory and can be held anywhere. Meetings can be held by telephone or other electronic means; alternatively, directors, as well as shareholders, may vote by proxy.
- Electronic Signature – Permitted.
- Re-domiciliation – A foreign entity can be re-domiciled as a Seychelles IBC, and vice versa.
- Compliance – IBCs must keep accounting records, which may be kept anywhere and in any currency. Financial accounts are not required to be filed and there is no requirement to file annual or tax return for Seychelles Companies doing business outside of Seychelles.If an IBC does business with Seychelles residents, it must notify the Registry, file annual audited accounts and tax returns and pay local taxes.
Seychelles International Business Company (IBC) Formation and First-Year Fees – USD 2,500.00 (All Included).
Note that incorporation and annual corporate service fees are “all-included fees”, and cover all the necessary services to incorporate and maintain a Seychelles International Business Company, as well as government fees and duties, disbursements such as courier fees, and assignments such as the preparation of a certificate of incumbency, and the notarization and apostille of documents, which are generally required for opening bank accounts.
- All applicable Registration and Government Fees
- Providing Certificate of Incorporation issued by Registrar of Companies
- Preparing the Memorandum of Association and the Articles of Association, and providing Registrar’s stamped copy
- Appointment of First Director(s) by the Registered Agent
- Preparing the Director(s) Acceptance Letter
- Preparing the First Board Resolution resolving the Issuance of Shares and Shares Certificates, Appointment of Directors, Registered Office, etc.
- Preparing the Register of Members, the Register of Beneficial Owners and the Register of Directors
- Filing the Register of Directors with the Registrar
- Preparing the Share Certificates
- Providing a Notarized set of corporate documents with affixed Apostille
- Preparing and Executing the Certificate of Incumbency
- Registered Office Services for one year
- Registered Agent Services for one year
- Delivery of Corporate Documents, inclusive of Courier Fees
Seychelles Company Annual Fees – USD 1,000.00 (payable one year after incorporation, and annually thereafter)
- All Applicable Annual Government Fees
- Maintaining the Minute Book, Registers and Statutory Records
- Registered Agent Service for one year
- Registered Office Service for one year
Nominee Services (Optional)
- Nominee Director (Natural Person/Corporation) – USD 1,000.00 per annum
- Nominee Shareholder (Natural Person/Corporation), including a Deed of Trust – USD 1,000.00 p.a.
*If a Notarized General Power Of Attorney to be designated as attorney-in-fact is required, there is an additional one-time fee of USD 500.00 (Optional).
For Bank Account and other services and quotations, please contact us for more information.