Simplicity and benefits of company registration in Seychelles
The process of formation of a company in offshore jurisdictions is quite simple and does not require much time and effort. Setting up a business in Seychelles is not an exception. Registration of a company there is often easier than, for instance, in the British Virgin Islands, or some other jurisdictions. However, in order to avoid unfavorable consequences one has to know how an offshore company is incorporated in Seychelles, what documents are required and if there are restrictions on the nationality of companies` directors and shareholders.
Like most tax havens, Seychelles is an island state. It consists of over a hundred islands. It is located in the western part of the Indian Ocean. The capital is Victoria. Seychelles is a former British colony that only gained independency in 1976. Like many island states, Seychelles are famous for its tourism industry. Besides it has a developed corporate sector providing tax benefits which allows of registration and effective use of offshore companies.
Offshore company in Seychelles is an excellent solution for privacy and tax planning when carrying out international business.
The Seychelles corporate legislation is based on English law which simplifies and clarifies use of offshore companies incorporated in that jurisdiction. The process of registration is regulated by the International Business Companies Act, 1994.
In the territory of the island state offshore companies https://www.offshorecompanyregister.com/ are completely exempt from taxes. For them taxes are replaced by a fixed annual fee charged within the statutory period. Absence of obligation to file financial reports makes an offshore Seychelles company a quite cheap and efficient tool for business.
Before starting the procedure of registration of an offshore company in the territory of Seychelles one should familiarize himself with the requirements of this country for a company being established. A company must have:
- One shareholder and one director (at least) - individual or legal entity. There are no requirements concerning nationality of those persons. Information about directors/shareholders of an offshore company https://www.offshorecompanyregister.com/ is not public and not subject to disclosure.
- Registered agent to represent the company before the Registrar and other public authorities.
- Registered office in Seychelles that must be at the location of the registered agent.
The standard authorized capital is 100,000 US dollars. Seychelles IBC’s are not required to file accounts or audit reports. Nevertheless all Seychelles companies are obliged to maintain internal records reflecting financial position of the company. It is not necessary for a Seychelles company to pay minimum authorized capital and have secretary upon registration. General meetings of the company’s directors or shareholders are not required to be convened annually.