Seychelles Company Formation
Benefits of a Seychelles International Company Formation
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Cost effective corporate structure
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Fast and easy registration process
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Completely tax-free operation
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Registers are closed to public
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No residency requirements for director and UBO.
from £945.00
Why Set Up a Seychelles Company?
Seychelles has recommended itself as one of the top offshore jurisdictions for IBC companies because of the reliable, confidential and cost-effective services offered on the islands.
This jurisdiction is very popular among business owners and investors wanting to operate globally.
Popular Offshore Financial Centre
The Seychelles company register maintained by the Financial Services Authority (FSA) is very fast and efficient. As a result, the process of Seychelles offshore company incorporation can practically be completed within one or two days. Ready-made companies are also widely available. Glenmuir Trust can help you incorporate your company in the shortest possible time.
A Seychelles company is not subject to any tax on the islands. In addition, no corporate tax, capital gains tax, withholding tax or VAT is applicable to its overseas profits.
Further Seychelles offshore company benefits include a high degree of privacy, closed company registers and nominee services that are used extensively in Seychelles. The registers of directors and beneficial owners are filed with the Seychelles authorities upon company registration and are updated as and when amendments are made. However, these registers are not available to the public and can only be accessed by the Seychelles authorities.
Cost Effective Solutions
For an offshore company in Seychelles, the price is very competitive compared to other jurisdictions, such as the Cayman Islands, Isle of Man or even the British Virgin Islands. The cost-effective service fees for Seychelles companies are underpinned by a modest government fee and competition among service providers.
Seychelles banks can offer offshore services to certain clients. A decade ago, it was possible to simply acquire a ready-made Seychelles offshore company with a bank account already opened and ready to operate.
Things have changed dramatically since then, although the opening of a bank account in Seychelles is still possible. Glenmuir Trust can assist in Seychelles company formation with a bank account opened at local or foreign offshore banks.
Taxation of Seychelles Company
The taxation system in Seychelles underwent significant changes in 2020 with the adoption of amendments to its tax legislation. The most notable change for Seychelles offshore companies is the abolishment of the preferential IBC tax regime and the switch to a territorial taxation system.
Tax-Free Business Environment
This means that any Seychelles IBC company’s income becomes taxable if it is derived from business activities on the islands. All companies become tax residents in Seychelles and are eligible to apply for a TIN number.
However, a Seychelles offshore company’s income from overseas business activities is still not subject to tax in Seychelles. Accordingly, companies that do not derive income in Seychelles are not required to file annual tax returns or audited financial statements.
For such offshore companies, there is no capital gains tax nor withholding tax on royalties, interest or dividends in Seychelles.
No value-added tax is applicable to offshore companies in Seychelles.
Corporate Legislation in Seychelles
Seychelles has a hybrid legal system based on a combination of common and civil law, with the latter prevailing. The roots of this blend lie in the country’s former colonial past. On the one hand, there is French civil law, based on the Napoleonic Code, which is the most influential, and on the other hand, there is English common law.
Modern Company Legislation
In terms of offshore legislation, the Seychelles jurisdiction has adopted the standard IBC model for its companies since 1994. This concept has evolved along with the rectification of the rules by intergovernmental organisations. In 2016, the new International Business Companies Act was adopted. However, the most significant changes took place in 2020, when a territorial tax regime was implemented along with the adoption of the Beneficial Ownership Act. Under this act, after each Seychelles company formation, the registered agent is obliged to submit information on the beneficial owners to the centralised beneficial ownership register maintained by the Seychelles FIU.
Today, Seychelles offshore company formation and administration is still a quick, cost-effective and straightforward process.
The vast majority of offshore incorporations in Seychelles are limited liability companies in the form of IBCs. Although, the legislation allows for other types of entities to be incorporated, such as a Limited Partnership (LP) or Protected Cell Company (PCC).
The Company Registration in Seychelles Package Includes the Following Company Documents:
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Certificate of Incorporation issued by the Seychelles company registry
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Memorandum of Association stamped by the Seychelles company registry
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Articles of Association stamped by the Seychelles company registry
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Register of directors
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Register of shareholders
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Register of beneficial owners
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Resolution of appointment of first directors
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Written resolution adopted by directors upon incorporation
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Share certificate
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Consent letter of the director
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Other documents depend on the services ordered.
** Payment Plan Also Available For New Incorporations
