05.19.06

Seychelles offshore incorporation environment

Posted in Seychelles offshore jurisdiction at 3:21 am by Robert Klien

There are 2 types of offshore companies you can incorporate in the Seychelles – International Business Company (IBC) and Special Licence Company (CSL). Seychelles IBC companies are available starting from 1994, but CSL companies from 2003. Of course, there were Seychelles companies available before 1994, but this is different story, not related to offshore industry. The traditional and the most popular one (in number of registered companies) in the Seychelles is the same as in most offshore jurisdictions – International Business Company.

Seychelles International Business Companies (IBC) or, in other words, Seychelles offshore companies are incorporated in accordance with the International Business Companies Act, 1994. Seychelles IBC Law has the below-mentioned key features.

The first feature is confidentiality guaranteed by law. It is worth mentioning that the Registrar maintains only the copies of the Memorandum and Articles of Association, certificates of incorporation, good standing, change of name and other relevant certificates. As to civil matter involving a Seychelles IBC, all proceedings are to be heard by a Judge in Chambers.

The second important feature is competitive License fees fixed for life. US$ 100 annual fee if authorised share capital is less that US$ 100,000. US$ 1,000 annual fee if the authorised share capital exceeds US$ 100,000. If the annual renewal fees are increased, a company incorporated before this will not be affected by it.

The third important feature is the quality of service and speed backed by high motivation of subjects involved in the registration process.

It goes without saying that some of the most important features are zero taxation of Seychelles IBC’s, no minimum capital stipulation, no requirement to disclose the beneficial owners of an IBC. Only one director or shareholder is required and bearer shares are allowed in the Seychelles. Company directors may be elected at the first company board meeting, and register of directors may not be filed with the Registrar. It also should be noted that books and records must be kept for all companies, but there is no need to file accounts with the Registrar.

Extremely fast Seychelles IBC incorporation, real bearer shares (shouldn’t be kept at custody as with some other offshore jurisdictions) and affordable fees are those 3 whales that hold the development of the Seychelles as the offshore tax haven.

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