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Overview Seychelles International Business Companies are useful alternatives to offshore companies established in jurisdictions such as the British Virgin Islands.
In December 1994 the Seychelles enacted legislation enabling the registration of International Business Companies, International Trusts and the licensing of International (free) Trade Zone Companies. More recent legislation covers the licensing of offshore banks, offshore Insurance, mutual funds activities and the regulating of a securities industry. The new laws were a result of intensive studies of long established offshore jurisdictions and world-wide trust legislation.
Although not dissimilar to those of the well-established offshore jurisdictions such as the Cayman, the laws take a most comprehensive, modern and attractive approach to the establishment and operation of offshore companies, mutual funds, offshore banking, offshore insurance and freeport activities.
Seychelles is one of the fastest IBC registrar in the world. The International Business Companies Act, 1994, governs the operations of offshore companies. The registration process in Seychelles is straightforward.
Seychelles Company Formation 1. Type of company for international Trade and Investment. The Seychelles International Business Company.
2. Restrictions on Trading. Cannot trade within the Seychelles or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management (other than the company's own assets) or any other activity that would suggest an association with the banking and insurance industries. A Seychelles IBC cannot provide registered office facilities in the Seychelles, or sell its shares to the public.
3. Powers of Company. A Seychelles incorporated Company has the same powers as a natural person.
4. Registered Office Required. Yes, must be maintained in the Seychelles at the office of a licensed Registered Agent.
5. Name Restrictions. Anything identical or similar to a company already incorporated. Anything that implies patronage of the Seychelles, or any other government, insurance, royal, imperial or any other name that may imply that a company intends to undertake a licensable or undesirable activity.
6. Language of Name and Corporate Documents. The name can be in any language, but must be accompanied by a translation in English or French. The documentation will either be in English, or it is possible to have bilingual documentation in English and Chinese or any other language accompanied by a translation in English or French.
7. Suffixes to Denote Limited Liability. The name of an IBC must end in one of the following: Limited, Corporation, Incorporated, Société Anonyme or their abbreviations. A wide variety of other suffixes such as BV, GmbH, and SARL may also be used.
8. Disclosure of Beneficial Ownership to Authorities.
Statutory requirements 1. The minimum number of directors is one, who may be a natural person or a body corporate. They may be of any nationality and need not be resident in the Seychelles.
2. The minimum number of shareholders is one.
3. Company Secretary. A Seychelles IBC need not appoint a company secretary, although it is customary to do so. The secretary may be a natural person or body corporate, be of any nationality and need not be resident in the Seychelles.
4. Authorised and Issued Share Capital. Seychelles IBCs are normally incorporated with an authorised share capital of US$100,000 with par value. The authorised share capital may be expressed in any currency. The minimum issued capital is either one share of no par value or one share of par value.
5. Classes of Shares Permitted. Registered shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.
6. An International Company is exempted from local taxation.
7. Financial Statements Required. There is no requirement to file financial statements, but a company must keep records to reflect its financial position.
Need Assistance INTERSHORES has over 20 years of corporate services experience and can assist you to set up your Seychelles company. Please do not hesitate to contact INTRESHORES at info@intershores.hk or by whatsapp at (852) 6499 4686.
Whatsapp : (852) 6499 4686 Phone : (852) 2186 6936 Email : info@intershores.hk
Disclaimer: Whilst reasonable care has been taken in provision of information above, it does not constitute legal or other professional advice. INTERSHORES does not accept any responsibility, legal or otherwise, for any error omission and accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, readers are advised to take appropriate professional advice before committing themselves to any involvement in jurisdictions, vehicles or practice. |
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