Starting a Company in the Seychelles

Starting a company in the Seychelles is widely regarded as an ideal way to conduct international business and a properly structured Seychelles international business company (IBC) is an ideal corporate vehicle through which international business can be conducted through. The following is an overview of the important aspects of company formation in the Seychelles.

Healy Consultants ensures starting a company in the Seychelles is is a simple process due to the range of business startup services available in the Seychelles to support company formation in the Seychelles.

Company formation in the Seychelles normally takes the form of an IBC, however the Seychelles Special License Company (CSL), introduced in 2003, offers additional advantages to those considering company formation in the Seychelles.

The Seychelles are not subject to the European Union (EU) Savings Tax Directive, unlike some of the offshore tax havens linked to EU member states such as the UK and its overseas territories.

Clients starting a company in the Seychelles should note that there is no public register of shareholders, directors or beneficial owners.

A Seychelles CLS is a low-tax type of company formation in the Seychelles, not a zero tax company. It therefore has a more positive image, especially since it is considered tax-resident in the Seychelles.

The CSL is subject to 1.5% tax on its global income, though it is not liable to withholding taxes on dividends, interest or royalties or stamp duties on property or share transfers.

Unlike an IBC, a CSL can benefit from the double taxation treaties the Seychelles has signed with several countries around the world, including China, Indonesia, Malaysia and Thailand.

There are no annual audit or annual returns required following a company formation in the Seychelles.

Clients starting a company in the Seychelles should note, there is no minimum capital requirement to complete company formation in the Seychelles.

Clients starting a company in the Seychelles should note, a Seychelles IBC may be perceived as a tax haven company.

A CSL can also carry out activity in the Seychelles. Despite restrictions on the repatriation of earnings and profits from the Seychelles due to a shortage of foreign exchange in the country, a recent article in the Seychelles' Nation newspaper said investors were 'confident' in the opportunities provided by the local economy.

A CSL is the prescribed entity under which a Seychelles International Trade Zone (SITZ) Licence is issued. A company in the SITZ enjoys the following:

• Tax incentives
• Fixed licence fees for the life of the company
• Can import foreign labour without restriction

The beneficial owners of the CSL are identified to the Seychelles International Business Authority during the application process.

A Seychelles IBC is not permitted to conduct any activities in the Seychelles, nor may it own real estate in the country.

Clients starting a company in the Seychelles should note that Seychelles business formation law allows 100% foreign ownership.

Other aspects to consider with Seychelles CSL company incorporation include:

• A Seychelles CSL requires a minimum of two directors, either resident or non-resident. Corporate directors are not permitted.
• The minimum number of shareholders is two.
• A CSL requires a resident company secretary.
• Accounts must be filed following company formation in the Seychelles.

Company formation in the Seychelles is a legitimate corporate structure which, if properly structured, is tax-free.

Clients starting a company in the Seychelles should note, Seychelles business formation requires a minimum one director and shareholder. Corporate directors are allowed.

A Seychelles company is subject to corporation tax if that income is generated in the Seychelles. Seychelles companies do not benefit from double taxation treaties.

Back to Seychelles Company Formation page.