Seychelles - simple incorporation, convenient legal framework.The cost of company registration starts at 800 $. Read more...
- Seychelles is a group of islands in the Indian Ocean to the east of Africa. The largest island is Mahe. The Republic of Seychelles is an independent state (since 1976), a member of the Commonwealth. The capital is Victoria. Official languages are French, Seychellois Creole, English. The national currency is the Seychellois rupee (SCR).
- The legal system of Seychelles combines the elements of English Common Law and French Civil Law. The Constitution of 1993 is in force.
- Key sectors of economy are international tourism (the country has regular air communication with the UAE and the SAR), commercial fishery. Substantial share belongs to international corporate and financial services.
- Seychelles is one of the popular tax free jurisdictions in the East African region. Seychelles companies are widely used in international business.
- Registration of private foundations and international trusts is available along with international business companies.
- The Financial Services Authority (FSA) is the state regulator.
Key features of Seychelles international business companies (IBC)
- Status, creation and business of Seychelles IBCs are governed by the International Business Companies Act, 2016.
- IBCs may engage in any legal business outside of Seychelles.
- The IBCs are exempt from local taxes. The only levy compulsory for payment is the annual fee.
- The companies are not required to file accounts and auditor’s reports with the state authorities. However, there are requirements for keeping corporate and accounting records.
- The law allows conversion of international business company into an ordinary (local) company and vice versa.
- The law also provides the option for continuation of a foreign company in Seychelles as an IBC (re-domiciliation).
Confidentiality and international information exchange
- Details of shareholders and beneficial owners are not subject to disclosure. Normally such information is available to registered agent only.
- Seychelles participate in the Convention on Mutual Administrative Assistance in Tax Matters as amended by the Protocol 2010 (entered into force from 1 October 2015) and the Multilateral Competent Authority Agreement on Automatic Exchange of Financial Account Information (the intended time of the first exchange is September 2017).
- As on the beginning of 2017 Seychelles participate in bilateral tax information exchange agreements (TIEA) with the following countries and territories: Denmark, the Faroes, Finland, Greenland, India, Iceland, Netherlands, Norway, Sweden, Switzerland.
- Seychelles also participate in agreements for avoidance of double taxation (not applicable to IBCs) with the following countries and territories: Bahrain, Barbados, Bermuda, Botswana, China, Cyprus, Ethiopia, Guernsey, Indonesia, Isle of Man, Jersey, Kenya, Luxembourg, Malaysia, Mauritius, Monaco, Oman, Qatar, SAR, San Marino, Singapore, Swaziland, Thailand, the UAE, Vietnam, Zambia, Zimbabwe.