Time of establishment of the company
Forming a company in Seychelles
Seychelles is an archipelago of 115 islands located in the Indian Ocean off the coast of Africa. Better known as a paradisaical vacation destination, the Seychelles islands also make up a sovereign state, with Mahé as its main island.
For over ten years Seychelles has been known as an offshore destination thanks to the ease with which company structures may be set up within its jurisdiction.
While it imposes no taxes, nonetheless Seychelles suffers from being regarded as a somewhat exotic location in terms of doing business within Europe.
Seychelles authorizes the use of a nominee director, thus allowing the client to not appear in the Public Register, ensuring anonymity.
Points to bear in mind
There are no taxes in the Seychelles
No corporate taxes
No import customs duties
No wealth tax
Company accounts must be maintained, but the client is not required to submit them to the local authorities.
Seychelles has no VAT.
Additionally, if you are not conducting business in Seychelles, you can issue tax-free invoices to your customers, which are not subject to VAT.
Terms and conditions
Creating an offshore company requires certain indispensable items, listed below, which are systematically included in the company setup process to ensure that it functions correctly.
The standard type of company in Seychelles is the IBC (International Business Company). This type of corporate structure is subject to few legal or fiscal restrictions.
The company must have its registered office in the Seychelles, appearing on communications and letterhead, and where mail may be physically received. The option of a virtual office with a personal phone number and switchboard is also available.
Minimum capital requirements
There are no minimum capital requirements for opening a company in the Seychelles.
A multi-currency corporate bank account will be opened, with online web access and a Visa or MasterCard debit card.
The directors may be of any nationality. Additionally, when setting up a company, a Nominee Director may be appointed, offering additional privacy.
Appointing a Nominee Shareholder is another standard feature of offshore companies, providing privacy protection and guaranteeing anonymity.
Required time frame
A company may be opened within 24 hours by simply choosing a Ready-made company from a list of existing companies which have been set up in advance to speed up the process. Opening a custom company takes 5-7 days, not including the time needed for the mailing of documents.
Companies registered in Seychelles may act as holding companies, with fixed or liquid assets.
The company’s registration must be renewed yearly. This includes paying a revenue stamp, confirming its registered address, and renewing the mandates of the nominee director and nominee shareholder.
Conditions for opening the company
The final condition is that the company’s activities must be legal both in Seychelles as well as in the countries where the activities are carried out. An Offshore company must not and cannot be opened for the purpose of legitimizing illicit activities.
The Seychelles authorities do not permit financial, banking, gambling, online gaming or insurance business activities without a prior license.
A legal process
European Community law, applicable under French law, renders it possible and legal to open a company that is ACTIVE within a country of the European Community but whose registered office is located in another European Union country. Decree number 92.521 of 16 June 1992 transposed the 11th Community Directive (99/666/EC of 21 December 1989, signed by Edith CRESSON and published in the Official Journal of 17 June), legalizing the registration in France of commercial companies whose registered office is located abroad.
Company registration procedure
Taxes and finances
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