Benefits: As an international financial jurisdiction, the Seychelles is considered to be one of the best in the world. The country has good political stability with a democratically elected Government and has comprehensive and modern international financial services laws.- One of the most tax efficient and secure structures in the world.
– Exempt from Seychelles taxation in foreign income and from Seychelles withholding tax and stamp duty.
– No foreign exchange control.
– Incredibly efficient vehicle to operate and offers the opportunity to trade tax efficiently so long as the Seychelles IBC does not conduct business within Seychelles.
– In terms of usage a Seychelles IBC is a flexible business tool. It can be used for anything from trading to asset protection and from tax efficient business planning to opening a secure international financial bank account with all state-of-the-art services in a well respected international financial jurisdiction.
– Time efficient in formation. It takes only 24 hours to incorporate an International Business Company in Seychelles and the fees are very affordable.
– Double Taxation Treaties with many major countries like:
– China – Belgium
– South Africa – United Arab Emirates (UAE)
– Mauritius
thereby assisting with making the cost of doing cross border business less costly.
A Seychelles Special License Company or CSL is a resident company incorporated under the Companies Act 1972 and is subject to the special license. The CSL satisfies all disclosure requirements, enjoys access to all Seychelles double tax treaties and can carry on business inside and outside of Seychelles.
Key Features of the Seychelles CSL:
- One-off registration fee.
- An application accompanied by the Memorandum and Articles of Association, the names and addresses of the beneficial owners and a written declaration containing the names and addresses of the directors and company secretary.
- Business Plan (if a new company).
- Three year projected cash flows.
- Accounts, returns and beneficial ownership must be filed, but these are not made public.
- A marginal rate of 1.5% corporate tax on worldwide income with full exemption from withholding tax, stamp duty and full treaty access.
- Minimum of 2 directors who need not be resident in Seychelles.
- A Seychelles resident secretary is required.
Information to Convert an IBC to a CSL
To simplify the process, we have divided this process into 4 parts:
A. Forms and documents to be completed, by whom and number of copies;
B. Documents and information required for the proposed company;
C. KYC information required by us for our files; and
D. Next steps.
B. Documents and information required for the company to be continued:
i. Certificate of Incorporation of the company to be continued
ii. Byelaws
iii. Audited financial statements of the past 3 years
iv. Register of Directors and Shareholders
v. Business plan (we can submit the original one used in Mauritius if the business has not changed); and
vi. 3 year cash flows
C. KYC Documents Required for our Files
* For the Director and Beneficial Owner:
(i) Notarised copy of passport (Professional intermediaries can notarise it)
(ii) Recent proof of residential address
(iii) Resume / CV
Please note that it can take about 1-2 weeks depending on the workload of the Registrar.