The independent democratic republic of Seychelles is a tax haven with a stable political system that offers one of the most attractive complete offshore formation packages, created and supported by one of the most auspicious legal and regulatory authorities in the offshore global arena.
International Business Companies (IBC)
IBCs are limited companies that carry out business activities outside of Seychelles. They are incorporated by the Registrar of International Business Companies which is the Financial Services Authority (FSA). These companies are created for conducting international business outside of Seychelles and are exempt from all forms of taxation. IBCs are ideal for a wide variety of uses such as holding companies, asset protection, patents and copyright holding companies.
Key features for company Formation
Why Form Seychelles Companies?
The Seychelles is an island country which can be found in the Indian ocean. The area is a popular jurisdiction for those seeking to form a company offshore due to the low start up and maintenance costs associated with doing so and the exemption from all taxes that is afforded to companies in the country.
Features of Seychelles Offshore Law & Regulations
The Advantages Of Forming Seychelles Companies
Of course, one of the biggest draws for people looking to form a company in the Seychelles is the fact that they will not be subject to any tax payments whatsoever on either income or profits. This includes stamp duty. This makes Seychelles companies much more competitive than those in many other jurisdictions around the world. However, you must bear in mind that in order to keep your tax free status, you should not seek to pursue business within the territory of the Seychelles. You are, however, free to do so anywhere else on the globe whilst taking advantage of your tax exempt status.
Another huge benefit of Seychelles companies is that they are amongst the most confidential in the world. Details of Seychelles companies, including directors and shareholders are not made public, so there is no need to worry about your business being kept private.
Protected Cell Companies (PCC)
Under the Protected Cell Companies Act, 2003 a company incorporated under the Companies Act 1972 can be authorized to divide into identifiable cells without having to assume a separate legal entity. Cells within a PCC are protected against liabilities incurred by cells of the same company making it an attractive solution for many business activities such as captive insurance or mutual funds businesses.
Limited Partnerships are registered under the Limited Partnership Act 2003 and are subject to the Seychelles Commercial Code. Under the Act limited partnerships must carry out its business activities outside the Seychelles and enjoys benefits such as exemptions from:
International Financial Services
Over the last decade, Seychelles has seen significant success in establishing itself as a well-known and respected international financial services jurisdiction.
Trusts set up under the International Trust Act 1994, provide an efficient, sensible and legitimate means of protecting your assets depending on your requirements. There are various purposes for trusts and these include property-holding trusts, charitable trusts or purpose trusts which are not used for the benefit of individuals, but for some specific purpose.
The Seychelles Foundation Act 2009 encompasses many of the best provisions found in other foundation jurisdictions yet provides more precision on essential legal issues in addition to more flexibility and better asset protection.
Companies Special License (CSL)
The Seychelles CSL is a local tax resident company specially licensed under the Companies (Special Licences) Act, 2003 by the Financial Services Authority (FSA) and is subject to a tax rate of 1.5% of its worldwide (gross) income.
Mutual and Hedge Funds
Under the Mutual Fund and Hedge Fund Act 2008, Seychelles’ licensed funds may be administered in Seychelles or in a recognized jurisdiction and can be incorporated as a company, partnership or unit trust. Various types of mutual funds are available such as private funds, professional funds, and public funds.
Securities industry related licences
The Securities Act 2007 provides for various licences which allow business activity to be undertaken in the securities industry namely:
Securities Exchange licence – which is available to companies incorporated under the Companies Act 1972 that meets the licensing and regulatory requirements to conduct the activity of operating a market, exchange, place or facility which brings together on a regular basis purchasers and sellers of securities.
All insurance activities in Seychelles are licensed and regulated under the framework provided by the Insurance Act 2008. Seychelles encourages new entrants in the Insurance market and investors are welcome to set up Insurance and Reinsurance offices.
All Seychelles offshore banks are controlled by the Central Bank of Seychelles, which is completely responsible for the guideline of all financial activity within Seychelles. With zero percent taxation offered to all investors, Seychelles has proven to be a popular jurisdiction amongst many investors. Main benefits of opening an account privacy, security and anonymity.