Seychelles is a tax haven located in the Indian Ocean. Seychelles is made up of a total of one hundred and fifteen (115) islands. Seychelles is an offshore tax haven whose economy depends mainly on agriculture and tourism. The government of Seychelles has encouraged investments into the islands by encouraging foreign investments and the offshore financial sector of Seychelles has attracted its share of investment into the country. Seychelles as an offshore jurisdiction and tax haven allows for the registration of Seychelles International Business Companies, Seychelles Trusts, Seychelles Limited Partnership companies and Seychelles Foundation. Seychelles also offers offshore banking.
Seychelles as a tax haven has very attractive features which has attracted thousands of clients to register Seychelles offshore companies. The Seychelles offshore company is a tax free entity in the offshore jurisdiction. A Seychelles offshore company will pay no Seychelles taxes on incomes which the offshore company has earned outside of the company. This means that the Seychelles Company pays no income tax or corporate taxes as well as capital gains tax or withholding tax. Offshore companies in Seychelles only pay a registration fee and annual license renewal fees in the jurisdiction. Stamp duty is also waivered for the Seychelles Company. Other benefits of incorporating an offshore company in Seychelles include an affordable license fee and quick and efficient offshore company incorporation.
For Seychelles offshore company registration just one shareholder and one company director is needed according to Seychelles offshore legislation. The Seychelles International Business Companies act was first passed in 1994 and many amendments have been passed to make the offshore company more competitive. Seychelles company registration can be done by persons of any nationality. The Seychelles offshore company is defined as a company which has been registered in the jurisdiction and is not able to carry out business in the jurisdiction with or on behalf of the residents of the Seychelles.
The process of Seychelles offshore company registration is easy and must be done by a registered agent in the offshore jurisdiction. The Seychelles Company upon company registration must maintain a registered agent in the tax haven according to offshore company regulations. For Seychelles offshore registration to be realized a Memorandum of Association and Articles of Association must be filed with the Registrar of Companies in Seychelles. The information for Seychelles company registration includes the following which is considered to be very important:
- The proposed name of the Seychelles Company
- The name and address of the registered agent
- The registered address of the Seychelles company in Seychelles
- The authorized share capital
- The objectives for forming the offshore company
- The currency in which company shares will be issued
- The par value of the shares must be stated
- The number and types of shares to be issued must be stated
- The rights, limitations, privileges and powers
- The number of shares to be issued as registered shares and bearer shares must be stated
- It must be stated if bearer shares can be exchanged for registered shares and vice versa
- A limited duration company must state the date by which the company will be dissolved
- A statement saying the offshore company will not engage in banking or insurance must be included
Seychelles offshore company registration is done in one business day. The Seychelles Company must choose a name which has not been used by another company or registration. The name of the company must not be one which is offensive and must include the words such as Limited, incorporated, Corporation.
Seychelles company registration results in a offshore company which is very beneficial providing asset protection and reducing tax liabilities.