Seychelles Company Registration

Update Date:2015-9-17 17:37:18 Source:Tannet (Malaysia) Sdn Bhd Views:1433

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Seychelles is an independent Republic within the Commonwealth with a population of 82,000 approximately. Seychelles comprises a group of approximately 115 islands in the Indian Ocean. The country has good political stability with a democratically elected Government. The Seychelles economy is primarily based on tourism, commercial fishing and offshore financial services industry. Besides of this, most of the income derived from offshore company incorporation.

Law and Taxation in Seychelles

Seychelles is governed by civil law except for the corporate legislation and criminal law which are based on the English common law. The principal corporate legislation governing IBCs is the International Business Companies Act (IBC Act) 1994. IBCs are exempted from taxation on business activities or transactions carried outside of the Seychelles. An IBC can be converted to other resident companies such as Companies Special License ("CSL").

The CSL is a Seychelles domestic company (incorporated under the Companies Act 1972), which is granted a special license under the Companies (Special Licenses) Act 2003. A CSL can take advantage of the Seychelles steadily expanding network of double taxation treaties which include China, Indonesia, Malaysia, Mauritius, Thailand, S. Africa, Botswana, Oman, Cyprus, UAE and Vietnam.

Requirements for Incorporation

IBCs are required to have at least one director and one shareholder, which may be natural persons, or corporate entities. Shareholders, directors, and officers may be of any nationality and may be residents of any country. No nationality restriction and specific requirement on this. A company secretary is not mandatory, although it is customary to have one appointed, and may be of any nationality and need not be resident in the Seychelles. The language of legislation and corporate documentation is either English or French. If any other language is used, it must be accompanied by a translation in either English or French.

There is no requirement to hold Annual General Meetings each year. Meetings do not have to be held in the Seychelles and can be held by telephone or other electronic. IBCs do not have to file any annual returns, accounts, or financial statements and there is no requirement by the authorities to register initial or ongoing changes in directors or officers. 

CSL's must have at least two local directors to access the treaty network and 2 shareholders. At present, corporate directors are not permitted. A CSL required to appoint a Seychelles resident as company secretary. Each year, the company must prepare and file audited accounts. The filed accounts and company return are not publicly accessible.

Tannet Malaysia is an International Consultant Firm based in Hong Kong, Shenzhen. We provide various of services and offshore company incorporation is one of the services. We offer Samoa, Cayman, Belize, BVI, Dubai, England, Labuan offshore company incorporation and etc. If you are interested in our other services, kindly contact Tannet for more information on other services.

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If you have further queries, please contact Tannet.

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