GLOBAL OFFSHORE BUSINESSPage index:Home > GLOBAL OFFSHORE BUSINESS > Details page

Why do many companies choose to set up offshore companies in Seychelles?

Update Date:2019-6-18 17:50:19 Source:Tannet (Malaysia) Sdn Bhd Views:62

Malaysia Hotline: +603-2141 8908


Seychelles Island is an archipelago country located in the Indian Ocean in eastern Africa. Seychelles declared its independence on June 29, 1976, and established the Republic of Seychelles, a member of the Commonwealth.


The Seychelles International Business Department introduces a set of progressive laws that promote the establishment of overseas companies and other institutions to encourage investment. The International Business Companies Act of 1994 is the main company law governing international commercial companies. It provides international companies with corporate profits and capital appreciation from the Seychelles national tax treatment.


This law is a comprehensive and simple company law in all aspects of company registration, supervision, operation and taxation. It requires the company to disclose very little information which making the legal procedures for registering offshore companies in Seychelles very convenient.


Seychelles offshore companies fall into two main categories: International Business Companies (IBC) and Special License Companies (CSL), of which the International Business Corporation (IBC) is the most common.


1. The advantages of Seychelles offshore company


·   Seychelles International Business Company (IBC) does not need to pay any taxes. This is clearly defined in the Seychelles International Business Companies Act. 109. (1) a company incorporated under this Act or its shareholders shall not pay any taxes or duties on the income or profits of the company or any transaction relating to the company or its shareholders.


·   The government provides privacy protection for all companies, and the directors and shareholder information are kept strictly confidential. Good confidentiality is one of the main features of the Seychelles company, which is mainly due to the following points:

   

a)    Seychelles company public records mainly have company charters and organizational     outlines, and this does not contain any information of shareholders;


b)      Seychelles is an independent country that does not need to disclose information with any     country, while other island countries are generally British territories and affiliated;


c)   The main income of Seychelles is tourism and offshore registration. The Seychelles   government avoids the sharing of information and exchanges in the name of financial    assistance in order to maintain the competitiveness of offshore registration.


·    Can apply for Chinese company name

The Seychelles Act allows foreign companies to use Chinese names (or other foreign names) in addition to English names on company licenses, which is quite convenient for other language users;

·    No limitation on capital

In the past, Seychelles had a capital limit and a threshold of USD 100,000. It has been lifted and the amount of capital is completely unlimited;

·    Free choice of meeting place

Shareholders and board meetings can be held in any country in the world and can be delegated or used by any means of communication (e.g.: telephone, fax, etc.);


·    Renewal procedure is simple

Maintaining the Seychelles Company is fairly easy, and there is no need to present annual reports and audit reports, as long as the annual maintenance fee is paid.


·    Convenience of shares transfer

Seychelles Company shares are not subject to any restrictions and it does not require stamp duty.


·    Wide range of business scopes

The scope of the business mentioned in the company's memorandum is extremely broad and covers almost all of the client's business-oriented scope.


·    Bank account opening is easy

Seychelles has no foreign exchange controls and can open offshore accounts in China, Malaysia, Singapore and other parts of the world.



2. Procedures of the Seychelles offshore company registration


·    Provide information:

A copy of the ID card or passport and proof of address, such as a utility bill; determine the company name, registered capital, shareholders candidate and the proportion of shares;

·    Confirmation of cooperation:

Signed an entrustment agreement with Tannet;


·    Make Payment:

Make payment of Seychelles offshore company registration fees;


·    Company name search:

Submit 2-3 names and complete the search within 2 working days;


·    Document submission:

Courier the legal documents to Seychelles authorities for processing. We can complete the company registration within 14-21 working days (our company is based on the receipt of the payment as the starting calculation date).


·     Certificate verification:

Government approval process: approximately 7-14 working days to complete the approval process;


·    Green box (registration completed):

Customer pick it up from Tannet or courier it to the customer’s location.


As one of the most popular offshore company registration sites, Seychelles does have many benefits that many companies do not have. Based on these core benefits, many companies have registered offshore companies here to achieve the goal of deregulation, reasonable tax avoidance, and increased company revenue. There is also a key point. Registering offshore companies such as Seychelles, Cayman, and BVI is not expensive and easy to operate for companies. So, that’s why many companies choose to set up offshore companies in Seychelles.


Tannet Malaysia is the world's leading company registration agency with a good service model. We have 20 years of experience in offshore company registration, covering the world's major offshore and onshore jurisdictions in the United States, the United Kingdom, the British Virgin Islands, China, the Cayman Islands, Malta, Hong Kong, Malaysia, Singapore and more.


For more details, please feel free to call the Tannet Service Hotline at 603-2141 8908 or email us mytannet@gmail.com, Malaysia Company Address: Unit 6.06, Level 6, Amoda 22, Jalan Imbi 55100 Kuala Lumpur.

Previous:Already the first article of the!

Next:What is an Offshore Company?