Seychelles Offshore Company Formation

Summary: This article clearly defines a Seychelles IBC and explains how Seychelles offshore company formation works for anyone looking for a specific International Business Company structure.

The Seychelles group of islands in the Indian Ocean is an increasingly popular offshore jurisdiction for those wishing to incorporate an International Business Company which benefits from zero local taxation, very few restrictions or reporting requirements and superior confidentiality assured.  Seychelles offshore company formation services have increased in prevalence as a result.

This article clearly defines a Seychelles IBC and explains how Seychelles offshore company formation works for anyone looking for a specific International Business Company structure.

The Seychelles has not signed up to the EU Savings Tax Directive and they have no other significant taxation relationships with outside nations, furthermore International Business Companies are not subject to any tax or duty on income or profits and are exempt from stamp duties on the transfer of property as well as free from exchange controls making the islands an ideal location for those looking for a jurisdiction from which they can operate tax efficiently. 

For a Seychelles offshore company formation a business owner needs to specify a minimum of one shareholder and one director.  Directors can either be a corporate entity or an individual.  Details of the shareholder/s and director/s do not appear on any public files, however both a register of shareholders and directors needs to be maintained and the location of the registers has to be filed with the Seychelles Registrar.  Both the register of directors and shareholders can only be accessed by authorised members of the company making a Seychelles International Business Company an incredibly confidential type of entity.

In terms of the restrictions imposed on a Seychelles IBC they cannot conduct business in the jurisdiction, they cannot be formed for the purchase of real estate or land in the Seychelles and an IBC cannot be used for banking, insurance or registered agency business.  Other than that a company is free to have a local bank account, lease property in the Seychelles, and own a vessel or an aircraft in the jurisdiction for example, and shares in an IBC can be held by a resident of the Seychelles.

The incorporation of an IBC can usually be done within 48 hours, some local offshore company formation service providers hold shelf companies and this means that Seychelles offshore company formation can actually be done same day.  After the initial set up costs ongoing annual licensing costs are very low – namely USD 100 for companies with authorised capital of up to USD 100,000 and USD 1,000 per annum for companies with authorised capital over USD 100,000.

All of these positive factors make a Seychelles offshore company structure an incredibly flexible, tax efficient and confidential business entity and it is therefore unsurprising that the number of companies established in the jurisdiction is increasing annually, if you think the jurisdiction is suitable for your needs or you want to discuss company formation in general terms get in touch with us and we can assist.

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