Registering an offshore company in Seychelles
The Republic of Seychelles is an island nation located in the southern part of the Indian ocean. The island archipelago consists of more than one hundred separate islands, with only a half being inhabited. The total area of the state exceeds 400 thousand square kilometres and the population is less than 100 thousand people. The capital of the state is Victoria and the national currency is Seychellois rupee.
Seychelles is known not only as an attractive tourism destination, but also as a place where it is possible to register an offshore company.
Features and legal framework of the jurisdiction
Registration of an offshore company in Seychelles provides international business with unlimited possibilities and significant advantages. The Seychelles jurisdiction, in addition to the tax benefits and the lack of the necessity to submit financial statements for offshore companies, offers some additional advantages for international businesses.
Offshore companies, which are registered in Seychelles, enjoy a preferential access to the major international markets of Africa, India and China. Besides, neither business nor commercial activities of offshore companies are territorially restricted. The exception is the territory of the jurisdiction itself. All the incomes, which are received directly on the territory of the state, are taxed on the usual terms.
The main factors that attract foreign entrepreneurs and investors into the offshore jurisdiction include the high level of privacy and confidentiality of information concerning offshore businesses. Thousands of offshore companies and international trusts are registered on the territory of the Seychelles jurisdiction owing to the efficient government support and protection of the information at the legislative level.
The possibility of legalizing corporate and other documents outside the jurisdiction is also worth mentioning. The Republic of Seychelles is a member of the British Commonwealth and it means that you can easily legalize all the necessary documents on the territory of a third state, which has a diplomatic representative of the UK.
Besides, Seychelles has ratified the Hague Convention, and it means that the corporate documents can be duly apostillized. It, undoubtedly, serves a significant advantage when carrying out international business and proving the legality of a legal entity abroad.
The largest international banking groups and institutions carry out their activities on the territory of the state. Among them, there is a state bank that acts as a financial regulator, and other private commercial and offshore banks. All the island’s banking institutions provide modern banking services to both private and corporate clients.
Registering an offshore company in Seychelles
First of all, you should choose an appropriate name for an offshore company. The applicable legislation provides certain requirements to the names of offshore entities. In particular, they must be unique and should not indicate affiliation with the state authorities or other official bodies. If you have decided to buy a shelf company in Seychelles, you will be able to choose from the previously reserved names.
Documents that are necessary to register an offshore company in Seychelles
Registration of an offshore company in the Seychelles jurisdiction, requires submission of the following documents:
- Copy of an international passport of the owner of the offshore entity;
- Documents evidencing the actual place of residence of the beneficiary (utility bills, etc.);
- Letter from a banking institution proving the availability of the account;
- Summary of the owner of an offshore company;
- A short-form business plan with an indication of the kind of activity of the registered company.
Advantages of registering an offshore company in Seychelles
- Minimum period and costs of incorporating an international company;
- Possibility of issuing shares of an offshore company to bearer;
- High level of confidentiality of information about business;
- Possibility of legalizing documents;
- Availability of bilateral international agreements that allow optimization of taxes at the international level;
- The Seychelles jurisdiction is not included in the FATF blacklist.
The Financial Action Task Force (FATF) is an international group, which is engaged in the development of the effective means of fighting money laundering. This organization issues a list of countries and jurisdictions that reject international cooperation and contribute to the laundering of illegal incomes and financing of international terrorism.
Period of State Registration and Acquiring a Readymade Company in Seychelles
The whole process of registering an offshore company in Seychelles through our office in Dubai, the UAE, may take up to two working weeks. Another week will be spent on preparing documents and registering a company itself, and one more week will be necessary to send the documents by an international registered mail.
The list of documents approving the state registration of an offshore company:
- State registration certificate confirming the incorporation of an offshore formation;
- Certificate of the securities of an offshore company;
- Memorandum and Articles of Association;
- Minutes of a meeting indicating the appointment of a head of an offshore formation.
Additional Opportunities of an Offshore Jurisdiction
The corporate legislation of the Seychelles provides a possibility of using a nominee service in order to ensure maximum confidentiality of information about the ultimate beneficiaries of offshore companies and international trusts. Payment for the services of nominee shareholders and managers of offshore companies is made at the fixed rates, which are specified in the agreement. The nominee directors submit an undated resignation notice, and a real business owner get a general power of attorney.