Seychelles, a traditional offshore haven, continues to rise in popularity annually. This is due to its dual commitment to preserving benefits like low taxes, straightforward registration, and adaptable corporate laws (as seen in the Beneficial Ownership Act 2020 Seychelles), while also fulfilling international standards.
Confidentiality in commerce: Seychelles’ approach to protecting business privacy
Seychelles has implemented a confidential register of beneficial owners and directors, which is maintained by the registered agent. In this regard, beneficial owners must disclose their personal details, including name, date of birth, nationality, and company stake, to the said agent, along with information about professional directors and shareholders.
Director data is also recorded in the register, which was once considered for public access but remains private for now.
The law specifies that authorities are only allowed to access this information during active investigations, and mass data requests targeting multiple clients, known as phishing, are prohibited.
Business registration in Seychelles: local company or offshore IBC?
Your business goals and sector will determine whether you register a taxable local company or an offshore one in Seychelles. The latter is favored by many foreign businesses due to the absence of taxes on Seychelles offshore entities, making tax exemption a key incentive for company formation there.
Seychelles offers several offshore company options:
- International Business Company (IBC): Exempt from global income tax, an IBC’s shareholder liability is limited to their charter capital contribution. While all business activities are permitted except those requiring a license, non-residents must use a local agent to register an IBC. A single natural or legal person can fulfill the role of a company director. Benefits of a BC company in Seychelles include no charter capital requirement, absence of currency control, and the permission for nominee services.
- Limited Partnership (LP) or Limited Liability Partnership (LLP): This less common ownership structure requires one partner to be a Seychelles resident with unlimited liability, and the company itself may act as the General Partner.
- Trust: This is a powerful tool for asset protection and owner anonymity that shields assets from seizure, even by court order. Establishing an offshore trust in Seychelles breakingtimes is quick and cost-effective, but the trust’s assets must be held outside the country. Only non-residents may set up such trusts in Seychelles.
Seychelles corporate maintenance: compliance year after year
This is what is necessary to maintain a company in Seychelles:
- Annual fee payment.
- A minimum of one shareholder, who can be from any country.
- At least one director, also from any country.
- Maintenance of the company’s financial records (auditing or filing is not mandatory).
- Submission of an annual non-financial report detailing the company’s general information and the physical location of its records, including shareholder and director meeting minutes. Plus, a declaration must be made to provide any required information to Seychelles authorities if requested.
Zero tax in Seychelles: compliance checklist for businesses
Would you like to enjoy the zero tax rate in Seychelles? If so, be prepared to comply with these requirements:
- Conduct no business activities in Seychelles.
- Own no property in Seychelles.
- Refrain from engaging in banking or insurance operations without proper licensing and don’t serve as a registered agent.
- Operate an investment company only outside of Seychelles, with a license from the respective country.
- Run a gambling enterprise only outside of Seychelles and with the necessary licensing.
While you must authorize the company’s share capital at the very start, there is no obligation to pay it immediately.
The roles of owner and director can be held by a single individual. Director meetings are not mandated to occur in Seychelles, nor is there an annual meeting requirement for directors.
Seychelles company naming: what’s allowed and what’s not
In Seychelles, company names must be unique and not identical to any existing registered name. Applications for names too similar to existing ones, which could cause confusion, may be denied.
Certain terms are off-limits for company names, including Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Cooperative, Imperial, Insurance, Municipal, Trust, and Foundation.
The word Seychelles may be allowed in a BC name if the Registrar approves.
Company names must end with Limited, Corporation, or Incorporated, or their abbreviations Ltd, Corp, and Inc. For protected cell companies, the name must include Protected Cell Company or its abbreviation PCC.
New company in Seychelles? Here’s the paperwork you’ll get
These are the documents you will receive upon establishing a company in Seychelles:
- Certificate of Incorporation
- Memorandum / Articles of Incorporation
- Minutes documenting the appointment of the first director
- Minutes from the inaugural meeting
- Register of directors
- Register of shareholders
- Share certificate(s)
- Procedures for maintaining registers
- Initial entries in the register of directors.
What it costs to launch and maintain a business company in Seychelles
Here’s what the starting cost for registering and maintaining a Business Company (BC) in Seychelles with International Wealth covers:
- company registration
- state registration fee
- registered agent services
- registered office address in Seychelles
- one set of the original corporate documents
- worldwide courier delivery.
Should you require an account opening or apostilled copies of corporate documents for other purposes, do your best to order a complete set immediately. This approach is more economical than apostilling each document individually.
The annual renewal fee for a company in Seychelles includes state renewal fee payment, registered agent services in Seychelles, and a local registered address.
Please note, late payments will incur penalties.
Should you choose, professional shareholder and director services are available for an additional fee.
Setting up shop: the quick and easy way to register a company in Seychelles in 2024
To register a Business Company (BC) in Seychelles, follow these steps:
- Reach out to International Wealth via email to express your interest in forming a Seychelles company.
- Forward the necessary documents to our team for review to make sure company formation is viable.
- Once confirmed, we will request payment for the registration service. Payment options include bank cards, bank transfers, Bitcoin, MoneyGram, WebMoney, and Western Union.
- Upon receipt of all documents and payment, we will initiate the registration process, which typically takes 3 business days.
- With the registration complete, you’re ready to launch your business.
Need assistance with company registration in Seychelles or any other offshore jurisdiction? Reach out to the International Wealth team! Our expertise covers the entire spectrum of the offshore industry.
