Seychelles

The Republic of Seychelles is an independent presidential republic within British Commonwealth. The President is a head of state and head of government. Today, the Government supports foreign investments and considers them as a main aspect for national economical growth. Economics of the Seychelles is mainly based on tourism business, fishing industry and processing of coconuts and vanilla.

General information about IBC on Seychelles:

• Seychelles international business companies (IBS) exist for conducting business outside the Seychelles territory and do not conduct business on the Islands.
• Seychelles companies are popular because of low prices, simple administration, privacy and tax-free status.
• Minimum number of shareholders is one
• Minimum number of directors is one
• Information about directors is submitted to registration authority, data about shareholders are kept at the registered address of the company. All the information is not publicly available.
• Presence in person is not required for registration.

UniverseLAW offers full range of professional services, associated with business organization on Seychelles:

• preparation and submission of the documents, required for business registration on Seychelles;
• legal address;
• arrangement of visits and accompanying clients for the notary office visits;
• assistance in opening a bank account.

• no requirements to minimum registered share capital;
• minimum amount of directors is one (may be nonresident or a corporate entity)
• privacy and security for assets: no requirements to providing information about company members, beneficiary owners or directors to any governmental authority of the Seychelles;
• simple administration: no requirements for financial statements or annual tax declaration;
• resident secretary is not obligatory;
• conducting business outside the country is not regulated by law, except for business activity which requires licensing or illegal business activities.

IBC is not taxable, because it is intended for business activity abroad, so there is only governmental fee in amount of 100 USD.

Taxes on Seychelles:

Resident employees on Seychelles pay tax in amount of 18,75%, nonresident pay 10%.

No accounting statements or audit required.

Required documents:

For private individuals:

• Passport
• Residence address confirmation

For legal entities:

• Registration documents
• Passports of private individuals in the company structure

Time required for company formation:

Regsitration of an offshore company on Seychelles may take from 1 to 2 working days.