The Seychelles is one of the most frequently recommended offshore tax havens for those seeking efficient and secure offshore company structures because it is a dynamic location and one that remains competitive even in the face of increased OECD pressure and pressure from other well respected offshore centres.
But is The Seychelles a superior tax haven? In our opinion it is indeed one of the most superior available because of the ease with which local IBC structures can be established, the cost effectiveness of the solutions available in The Seychelles and the additional services that can be bought to make operating an offshore company structure from the tax haven simple.
Located in the Indian Ocean, The Seychelles is a group of islands that relies almost exclusively on a combination of tourism and offshore services generated revenue for economic success. To that end the government of this particular offshore tax haven works hard to retain its nation’s competitive edge in both the worlds of exclusive and desirable travel and tourism and offshore financial and company services.
It is specifically because of this point that The Seychelles is a superior tax haven because the government will do all it can to make the jurisdiction as competitive, flexible, friendly and secure as it needs to be to win and retain a significant share of the global offshore business marketplace.
In terms of some of the most attractive and useful features of the jurisdiction they include the fact that Seychelles IBCs (International Business Companies, also referred to as offshore companies) can be set up with bearer shares which do not have the beneficial owner’s name on record which means such a company structure is private and confidential.
In addition to this, International Business Companies are not subject to taxation within the Seychelles and corporate directors are allowed when creating the company. On top of these benefits and attractive features, Seychelles offshore companies are not required to file either annual returns or any form of accounts making them simple and straightforward to establish and incredibly easy to operate on an ongoing basis.
Naturally enough The Seychelles are not the perfect offshore tax haven for everyone as consideration always needs to be given relating to the geographical location of the person wishing to incorporate a company offshore as well as any clients they may wish to do business with via the company. Not only this, but consideration to the jurisdiction has to be given in relation to the exact type of business that the offshore company will be used for.
Having said all that, if you are looking for a superior, well regulated, efficient, flexible and competitive tax haven, The Seychelles may well be worth your closer inspection.
