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Tax haven of Seychelles

Seychelles has long been considered one of the most popular tax havens in the world. Seychelles companies are thought to be beneficial due to absence of the capital gains tax, tax on gifts and property tax. So-called territorial tax system is effective in Seychelles. This means that all income gained abroad is exempt from taxes. In some countries foreign income is not taxed unless it is transferred to the country. But once your foreign income is transferred to a local bank, it is subject to taxation. The advantage of the territorial taxation is that you can live in Seychelles and have international online business. And even if you transfer all your money to Seychelles, then your foreign income will still not be taxed. And such conditions exist in all countries where territorial taxation is practiced.

Local companies must pay import tax, VAT and business taxes. The latter apply to local self-employed persons, individual entrepreneurs and partnerships. Business taxes apply to rental income from real estate located in Seychelles. They are rather high and may amount to 33%, but if real estate is owned by a Seychelles offshore company and located outside Seychelles, you have nothing to worry about.

If you settle in Seychelles, then your income earned abroad will not be taxed. Thus being a resident of Seychelles may be profitable for any owner of internet business.

However, before moving to Seychelles you should know about two relatively recent innovations. Since 2010 there has been the personal income tax in Seychelles. It was reintroduced 20 years after its last abolition. In January 2011 the personal income tax rate was set at 15%. So if you intend to move to Seychelles for the purpose of tax planning, you should consult first. You will not be able to move there without a residence permit. It is likely to be granted to you unless you are in the list of prohibited immigrants. As a resident of Seychelles you will have to live there at least five days a year and provide documentary proof of your solvency. You will have to transfer about 10,000 USD a year to your account in Seychelles.

One of the advantages of Seychelles is that it is an independent country unlike the British Virgin Islands, Anguilla, the Turks and Caicos Islands, the Cayman Islands, the Isle of Man and the Channel Islands, which are British Crown Dependencies. All those jurisdictions suffer the crackdown of British officials who demand a higher level of bureaucracy.

Republic of Seychelles
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+ 248 428 0505
+ 248 428 0506
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Tenancy 10, Marina House,
Eden Island, Mahe, Seychelles
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