Today, Seychelles is of great interest to those who want to register an offshore company and are looking for the most appropriate jurisdiction for this purpose.
Offshores in Seychelles began to spread in December 1994. At this time, legislative acts were issued on the companies involved in international business. Now, about 250000 companies have set up company Seychelles, while more than 600 new organizations pass the registration procedure every month.
Why set up offshore company in Seychelles
The first and main goals of the offshore, which are obvious to any businessperson, are:
- Optimization and reduction of tax on the income received outside the territory of the offshore zone.
- Ability to get rid of double taxation when conducting international business.
Of course, the benefits of offshores are not limited to tax savings. Let’s consider the main advantages of such a form of doing business.
First of all, the registration of the company in the offshore zone provides the highest level of confidentiality. Most countries allow the owner to stay completely anonymous, which makes him/her invulnerable to the government bodies.
An offshore is very easy to register and later requires minimal funds to maintain its existence. Many countries don’t even require mandatory reporting, providing a comfortable way of doing business, and reducing the organizational costs.
An offshore is often used to increase the benefits of export and import operations. It acts as an intermediation body, which exempts you from paying taxes, as the income is obtained in another country. Such an economy is perfectly legal since the cash flow in such operations doesn’t fall within the scope of interest of the tax authorities.
An offshore is equally lucrative with a variety of trust operations with the financial resources of depositors. At first, the resources are invested in highly profitable operations, and then the funds are returned to the offshore account. Such investment and financial operations are especially popular in the US and Europe.
Ways to register company in Seychelles
Offshore in Seychelles is registered very quickly, and the cost of the procedure is quite affordable. The company may be named in the native language of its owners; there are no restrictions in this regard. Many entrepreneurs appreciate this jurisdiction for the high level of confidentiality, ban on public access to the information on the composition of the directors and shareholders.
Company types you can register
Modern legislation is based on the International Business Companies Act, 2016. According to it, all the registered Seychellois offshore companies (IBC) have the right to engage in any type of entrepreneurial activity worldwide. The company can conduct any activity permitted by law (banking, trust, insurance, and reinsurance activity requires licensing). Offshore company should also have a registration office and agent and ban on doing business in Seychelles. There are no requirements for the compulsory payment of authorized capital. Nationality and residency of shareholders and directors are irrelevant. Shareholder and director can be the same person.
Requirements for companies
The company registered in Seychelles can run the business around the world (apart from Seychelles— in this case, it will be completely tax—exempt). Signature of the Hague Treaty by the state entails the possibility of affixing Apostille on the company documentation, which contributes to the successful and fruitful international business, opening accounts in the largest and most respectable international banks and legalization of the company in other countries.
The amount of fees for the offshore companies registered in Seychelles is fixed throughout the entire period of its activity. An increase in fees (this applies only to the new companies) doesn’t affect the existing units. If the tax reduces, these changes concern all equally. Minimum authorized capital is not established, and the company capital can be in any currency.
Offshores from the jurisdiction of Seychelles are still opened in different banks under certain conditions. Earlier, the most favorable conditions were offered in Cyprus and in some banks of Latvia. Now, the residents of Seychelles are rarely opened in Latvia after the policy changes of the local central bank, and in the other jurisdictions, the control of offshore companies has become tougher. Contact us to clarify the current situation.
The set of documents for a company in the jurisdiction of Seychelles is issued in English. It includes:
- Certificate of the company registration.
- Constituent Treaty and Company Charter.
- Certificate of appointment of the first director.
- Apostilled stitching of copies of documents from the points 1—3.
- Package of documents for signing with the director of the company, if the director is a representative of the client.
- Company seal.
In addition to the standard set, the nominal service includes:
- Apostille power of attorney from the nominee director.
- A set of documents, signed by the nominee director: minutes of the meeting, registries, and share certificates.
- Declaration of trust from a nominee shareholder in favor of the beneficial owner.
- Nominal Service Agreement.
Benefits to open company in Seychelles
It is allowed to introduce the non—residents of the country in the composition of the directors and shareholders. Put simply, a foreigner (a citizen of any state) can buy an offshore in Seychelles. Maintaining a company in the Islands is also cheap. The state participates in the double tax treaties. Only two documents shall be made publicly available:
- Articles of incorporation.
The content of these documents doesn’t include the names of shareholders or directors of the company. If the company has been registered in another jurisdiction, the owner can move it offshore in Seychelles (if desired). In addition to registering a new company, there is an opportunity to acquire a ready-made one by paying the established fee.
Offshore and onshore companies have the right to open an unlimited number of accounts in different countries. Currently, the vast majority of banks started to pay special attention to their clients for compliance with the rules and KYC procedures.
Everything is taken into account— the company registration country, the type of company, the presence or absence of the nominee service, and the client’s business as a whole. The account opening procedure usually takes a long time; it is necessary to prepare an impressive set of documents for the company and the beneficiary. Some banks require a personal meeting with the client and the departure to the bank. There are a number of banks, in which remote account opening is possible through a video conference on Skype.
Information about the directors and owners of IBC reporting is not transmitted to government bodies and is stored on the territory of the islands.Atrium Business Solutions
Quick and easy offshore company formation in Seychelles
For maximum customer security, we offer the services of the nominee shareholders and directors for the registered offshores in Seychelles. Denominations will formally appear in all major registration documents of the company in Seychelles, a general power of attorney over the company will be issued to your representative (or to you personally), as well as the open-ended denial letters on the resignation of a nominee director. You can put the date at any moment, thereby changing the director. In addition, a trust declaration will be drawn up between the nominee shareholder and the beneficiary, which confirms that the nominee shareholder owns the shares of the Seychellois company in your favor and has no right to do anything with them without your consent.