Company in the Republic of Seychelles
Seychelles is an archipelagic Island country located off the coast of Aftica in the Indian Ocean. It consists of 115 islands. The state is a member of the Commonwealth of Nation, however it is not a subject to the authority of the British crown since 1976.
General information
The Republic of Seychelles is an independent democratic republic. The capital city is Victoria. The Seychelles boasts the highest nominal per capita GDP in Africa and has a high Human Development Index. Opening a business in the Seychelles is one of the most popular destinations to open offshore companies and is considered a fairly easy and simple process.
Why is establishing a company in Seychelles attractive?
Company registration in Seychelles has become a popular choice in recent years. Partly, it is due to the short period of time it takes to open business in Seychelles.
One of the main reasons behind the popularity of company formation in Seychelles is the level of privacy in the company –lack of public notification or disclosure of shareholders, directors and owners. When considering company formation in Seychelles, another advantage is the high availability of company names and flexibility of the corporate structure. Moreover, owners of the company do not need to possess a physical address in Seychelles. The only requirement is an agent with a registered office address.
The Republic of Seychelles are not dependent on the United Kingdom and the British Crown, nor are they dependent upon the European Union. Thus, greater freedom in company formation exists.
Company formation in Seychelles and its legal form
International Business Company (IBC) is one of the most common and versatile type of offshore company in Seychelles performing comprehensive confidentiality functions. IBC is a tax free company and is constructed in a way enabling engagement in all forms of international business with no reporting duties and minimum documents required.
Company name
When choosing a name for a company in Seychelles, you need to make sure that all the words are in English. The name must end with a word, phrase or abbreviation indicating limited liability, such as Limited (LTD) or Corporation (Corp).
Directors, shareholders and secretary
Company formation in Seychelles requires at least one director and one shareholder. They do not have to be in Seychelles and can be corporate bodies. Nominee Director and Shareholders are also allowed to open company in Seychelles.
Share capital
The share capital of a company in Seychelles is USD 100,000.00. IBC in Seychelles may only issue registered shaes and each of them may be marked as a voting share.
Taxes in Seychelles
The taxes are a great benefit of registering a company in Seychelles, because IBC do not pay taxes in Seychelles. There is no stamp duty or other taxes when shares are transferred or being sold. However, it should be remembered that in order to remain tax-free, business activities cannot be conducted in the Seychelles alone. Thus, you can do business anywhere in the world, except in the Seychelles.
Ready made company in Seychelles / Purchase of a company in Seychelles
Buying a company in Seychelles is not widely practiced. The purchase of a company in Seychelles is an unprofitable solution due to the fact that the company registration is done quickly.
