Background
Situated in in the Indian Ocean with an approximate population of 80,000, Seychelles is known to be one of the most popular business destinations for offshore company formation with its many tax advantages that foreign investors can enjoy. One of the key reasons why Seychelles is one of the top jurisdictions for company formation is due to its unparalleled level of privacy and confidentiality within the company.
A popular choice amongst foreign investors are an offshore (IBC) company. Foreign investors may also consider establishing branch offices in Seychelles, however, the key difference opening a branch office resides in the liability of the parent company – whereby the parent company bears all liabilities and obligations.
Seychelles Company Registration Guide
The Seychelles Financial Services Authority (FSA) is the registrar for International Business Companies, International Trusts, Protected Cell Companies, Special License Companies and Limited Partnerships. They are also the regulator for non-banking financial services, established under the Financial Services Authority Act, 2013, the Authority is responsible for the licensing, supervision and development of the non-banking financial services industry in Seychelles.
Types of Entities in Seychelles
| International Business Company (IBC) | International Trade Zone Company(ITZ) | LLC (For tax residents) | Special License Company (Onshore financial activities) | Branch Office | |
| Incorporation Process and Timeline | |||||
| Minimum number of directors | 1 | 1 | 1 | 1 | 1 |
| Minimum number of shareholders | 1 | 1 | 2 | 2 | Parent Company |
| Local Presence (director/ shareholder/ officer) | No | No | No | No | No |
| Physical registered office address requirement | Yes | Yes | Yes | Yes | Yes |
| Minimum Paid Up Share Capital | USD 1 | USD 1 | USD 1 | USD 1 | – |
| Disclosure of shareholders/ directors | No | Yes | Yes | No | Yes |
| Incorporation Timeline | Less than 3 weeks | 3 – 6 weeks | 3 – 6 weeks | 3 – 6 weeks | 3 – 6 weeks |
| Regulator | Seychelles Financial Services Authority | Seychelles Financial Services Authority | Seychelles Business Register | Seychelles Financial Services Authority | Seychelles Business Register |
| International Business Company (IBC) | International Trade Zone Company(ITZ) | LLC (For tax residents) | Special License Company (Onshore financial activities) | Branch Office | |
| Taxation and Accounting | |||||
| Corporate Tax | 0% | 0% | 0 – 33% | 1.5% | 0 – 33% |
| Annual Tax Return filing | No | Yes | Yes | Yes | Yes |
| Entry to double taxation treaties | No | Yes | Yes | Yes | Yes |
| Auditor appointment | No | Yes | Yes | Yes | Yes |
| VAT Payable | Sales are not allowed locally | 15% | 15% | 15% | 15% |
| Foreign Shareholders withholding tax | 0% | 0% | 15% | 0% | 15% |
| International Business Company (IBC) | International Trade Zone Company(ITZ) | LLC (For tax residents) | Special License Company (Onshore financial activities) | Branch Office | |
| Corporate Bank Account | |||||
| Corporate Bank Account Available | Bank account in Asia/ Belize/ Mauritius, upon request. | Bank account in Asia/ Belize/ Mauritius, upon request. | Bank account in Asia/ Belize/ Mauritius, upon request. | Bank account in Asia/ Belize/ Mauritius, upon request. | Bank account in Asia/ Belize/ Mauritius, upon request. |
| Multi-currency option | Yes | Yes | Yes | Yes | Yes |
| E-banking platform quality | High | High | High | High | High |
| Bank Account Opening Timeline | 1 – 2 months | 1 – 2 months | 1 – 2 months | 1 – 2 months | 1 – 2 months |
| Others | |
| Seychelles employment information | http://www.employment.gov.sc/ |
| Access to residence visa | Yes |
Advantages of Seychelles IBC
- Inexpensive and Flexible: Seychelles IBC can be established easily with only one shareholder and director, and have the ability to carry a wide range of business activities without having to go through many different processes of acquiring different licenses for operations.
- Availability of Company Names: A wide range of suffixes are available for selection.
- Great Privacy and Confidentiality: No public register of Shareholders, Directors, or Beneficial Owners in Seychelles. Ownership privacy is also guaranteed by law.
- Permitted Nominee Directors and Shareholders: Nominee directors and shareholders are allowed for Seychelles IBC
- Zero Reporting Requirements: No Requirements to file annual company returns or accounts for Seychelles IBC. This will lead to greater privacy and in turn, incurring lesser costs.
- Zero Taxes: Seychelles IBCs pay no taxes, no stamp duty or other taxes levied when shares from an IBC in Seychelles are sold or transferred. This is guaranteed by law.
- Time Zone Convenience: Seychelles operates with GMT+4, which provides convenience to communicate with clients or partners in Europe or major Asian Business Centres.
- Cost-effective Litigation Insurance: Litigators are reticent to pursue a Seychelles IBC through the courts as it in nearly impossible to determine the owner(s).
- Political Stability: Seychelles has seen little movements in its political climate for the past 30 years.
Enigmatig services in Seychelles:
With more than a decade of experience, our team at Enigmatig is here to meet your business needs beyond just company formation. We also provide the following services in Seychelles:
- Company formation
- Provision of registered agent and registered address
- Provision of company management, directorship, and shareholding services
- License application assistance
- Seychelles funds setup and structuring
- Offshore bank account introductions and applications
Application Process:
- Submit your interest here
- Our Offshore Formation Specialists will reach out to you for an in-depth discussion
- A customised proposal will be sent to you upon uncovering your needs,
- Upon the proposal confirmation, we will require the of the following information for the application
- Proof of Identity
- Proof of Residence (within the last 3 months)
- director(s),
- shareholder(s) and
- beneficial owner(s)
Once the above has been approved, we will send you an invoice for payment.
The incorporation process will commence upon receiving payment
Enigmatig deals directly with the authorities instead of the use intermediaries in your application process. In this way, we are able to ensure our prices remain competitive while you are ensured of utmost privacy and care in your application.