Company structure in Seychelles
- The statutes of the offshore company in Seychelles generally define, on the contrary, the activities in which the company can engage,
- These activities are regulated by specific legislation.
- The offshore company in Seychelles is made up of one or more natural or legal persons.
- It may have a name followed by “Limited”, “Company” or “Incorporated” or the abbreviations “Ltd”, “Corp”, “Inc”.
- There is no minimum capital, most often the capital is set at USD 100,000, it can be USD 1 or USD 1,000,000.
- No proof of capital deposit is required.
- Possibility of using nominees to represent the partners and / or the director.
- The units are exclusively registered.
- The customer does not have to travel, all the constitution can be done via the net or by fax.
- The Seychelles Offshore Company may own boats, airplanes, buildings outside the Seychelles.
- The Seychelles Offshore Company can invest in TRUSTS, investment funds.
- The registered office must be in Seychelles with a duly licensed registration agent.
- The annual tax is 140 US$ THIS IS THE ONLY tax.
- An IBC in Seychelles is exempt from all profit tax, transfer taxes etc ... unless it trades in Seychelles territory, which is possible in part since 2019, in which case it is subject to a "business tax" as a local company.
- Keeping the records of the Seychelles Offshore Company accounts for 7 years is an obligation.
Benefits of Companies in Seychelles
- Large choice of names possible.
- Relatively preserved confidentiality.
- Total exemption from tax, levy, stamp duty, tax (except annual flat rate tax).
- No capital gains, no inheritance tax.
- No compulsory account deposit but obligation to keep the archives of the Seychelles Offshore Company accounts for 7 years.
- Banking secret
- Registered shares.
- No requirement of a local manager.
- The cheapest annual tax in the world.
- No obligation to hold general meetings.
- Possibility to open a bank account for your Seychelles offshore company anywhere in the world.
Company activities in Seychelles
The Seychelles offshore company can engage in any lawful activity except the restrictions below.
It can trade with any country even with Seychelles and it can own and manage vessels registered in Seychelles.
The new law clarifies that an IBC may own or operate a vessel registered in Seychelles under the Merchant Shipping Act and the vessel may visit Seychelles or be located in Seychelles territorial waters, provided the IBC does not 'does not carry out any commercial activity in the Seychelles.
Restriction of activities:
The law (act 2016) on International Business Company does not allow an IBC in Seychelles to have the following activities:
- have an interest in real estate or rent real estate in Seychelles.
- have an insurance or reinsurance business.
- carry out an activity of International Corporate Service, international trustee or foundation and the following activities unless authorized or otherwise legalized under the laws of the country outside the Seychelles where the Seychelles offshore company carries out this activity.
- securities broker;
- operation of a mutual fund;
- online casinos;
- stockbroker, bank, trust;
Key figures of companies in Seychelles
|Official name||Republic of Seychelles|
|Proper noun||Repiblik Sesel (crs); Republic of Seychelles|
|Population||97,023 inhabitants (2018)|
|Population growth||1.23 % / year|
|Density||211.38 inhabitants / km²|
|GDP||1.590 billion $USD (2018)|
|GDP / capita||16,434 $USD (2018)|
|GDP growth||3.60 % / year (2018)|
|Life expectancy||73.30 years (2018)|
|Birth-rate||‰ 17.40 (2016)|
|Fertility rate||2.40 children / woman (2015)|
|Mortality rate||7.90 ‰ (2016)|
|Child mortality rate||‰ 13.40 (2016)|
|Literacy rate||99,05 % (2015)|
|Official languages||Seychellois Creole, English and French|
|Change||Seychellois rupee (SCR)|
|HDI||0,801 / 1 (2018)|
|Nature of State||Republic|
|Head of state||President Danny Faure|
|National Holiday||June 18|
|Codes ISO||SC, SYC|
|Tourists||349,861 people (2017)|
A threatened earthly paradise
The Seychelles are an archipelago of 116 islands (including several artificial), located in the Indian Ocean and attached to the African continent. All these islands are grouped into a state, the main island of which is Mahé. It shares its maritime borders with France (Réunion and TAAF), Madagascar, Mauritius and Comoros. It lies about 1300 km off the coast of Kenya, Somalia and Tanzania.
A rich country in the overall African context, with a GDP / capita reaching 15,076 $ (2016) and relatively strong economic growth for a few years (+4.5 % in 2016), the Seychelles are nevertheless very indebted and live in- beyond their means.
Tourism is the main local industry, supporting around 30 % people. In 2017, 349,861 tourists came to visit the archipelago (276,000 in 2015, 303,177 in 2016). Fishing, cannery, petroleum and services are the other main sources of employment.
But the country faces risks associated with climate change and rising sea levels. 80 % of the islands could disappear in the next decades, if nothing is done. And despite negotiations and discussions in the world for several decades, actions do not follow enough words, and climate change is becoming more and more dangerous for the archipelago every year.
Corporate taxation in Seychelles
Corporation tax - The Business Taxation (Amendment) Act 2018 implements a territorial tax regime in Seychelles as of January 1, 2019. Income from a local source is subject to tax, while source income foreign countries are tax exempt.
If an IBC does business with residents of Seychelles, they must notify the registry, file audited annual accounts and tax returns, and pay local taxes.
Dividends, interest, royalties or other payments made by Seychelles IBCs would be tax exempt as long as they are derived from non-Seychelles income. There is no capital gains tax in Seychelles.
IBCs are exempt from stamp duty upon the incorporation of a company, transfers of ownership to or by a company, transactions involving shares, debt securities or other securities of a company; the creation, modification or discharge of a charge or other security interest in any property of a company; and other transactions relating to the activity or assets of an enterprise. However, transactions with instruments related directly or indirectly to real estate in Seychelles will be subject to stamp duty.
Other taxes - In Seychelles, there is no capital gains tax, property tax, inheritance tax or inheritance tax, tax on capital transfers, tax on gifts or wealth tax. The main tax on resident individuals is the income tax on their accumulated income in Seychelles at a maximum rate of 15%.
VAT at 15% is levied on the supply of goods and the provision of services.