Offshore companies in Seychelles, as in any other offshore zone, are an effective mechanism for capitalizing funds and reducing the tax burden on companies with very significant income. The Republic of Seychelles is located in the Indian Ocean east of Africa and is a group of islands. The Republic of Seychelles has been an independent state since 1976 with good economic indicators, which are largely associated with its offshore status. Seychelles is one of the popular tax-free jurisdictions in the East African region. Companies registered in Seychelles are widely used in international business activities. The creation and operation of offshore companies on the territory of the state is regulated by the Law on International Commercial Companies of 2016 as amended. In the country, English common law and French civil law apply.
The interest of foreign investors and businessmen in this jurisdiction is due to the very favorable conditions in the creation and maintenance of international (IBC) companies. IBC companies have the right to conduct any legal business activity both in Seychelles and outside the country in the international market. IBC companies that do not operate in the territory of the state are exempt from local taxes and fees. Only the annual renewal fee in the Registrar of Companies is subject to mandatory payment. Tax consequences arise only when IBC receives income from sources in the country. Such conditions are very beneficial for creating a company with the goal of capitalizing your income and exempting it from taxes.
Offshore companies in Seychelles for doing business
The creation of a company on the territory of the Seychelles is very profitable due to the existence of agreements on the avoidance of double taxation with many countries of the world, including the states of Europe. Such privileges allow creating a chain of companies in which the last recipient is the company in the Seychelles. But it is worth noting that IBC companies will not be suitable for using such a system. But at the same time, one should not forget that the Republic of Seychelles participates in many programs for the exchange of information with other states, but at the same time information about the directors, beneficial owners and shareholders of the company is closed. Under normal circumstances, only the registered agent and the bank in which the company's account is opened have this information. As part of this service, our company offers you:
- Register a company in the Seychelles in accordance with the current legislation of the country;
- We will provide a nominee service in the form of a director and a beneficiary, to eliminate the need to register the company as the ultimate owner;
- We will provide the opportunity to open accounts in various banks, including in the territory of the Russian Federation (it is worth considering that not all companies can provide banking services in Russia due to the peculiarities of the offshore zone);
- We will provide a service for apostillization of all documents for the company, for free use on the territory of countries that are among the states that have signed and ratified the Hague Convention of 1961;
- We will provide advisory assistance at the stage of preparing documentation for the registration of an IBC company, provide information about all the features of such companies and their risks;
- We will ensure the delivery of the necessary reporting if the company operates in the territory of the state. IBC companies that do not operate in Seychelles do not have the obligation to submit financial statements to government bodies, however, there are a number of requirements for the storage of corporate and financial documents;
- If necessary, we will ensure the conversion of an IBC company to a local (regular) company and vice versa;
- The cost of services for setting up an IBC company is from 700 USD, the cost of standard registration includes registration of a company with payment of a fee, a registration agent and an address for 1 year, a set of documents with an apostille, and sending documents. Nominee services are not included in this price. The company's annual renewal will be 700 USD;
- The cost of services for setting up an IBC company with a nominee director and / or shareholder is 1100 USD, including a power of attorney with an apostille. The company's annual renewal will be USD 1,100;
- Services for the liquidation of an IBC company will be 1200 USD;
- Additional services are provided: notarization of documents in the Seychelles — 370 USD; Apostille of documents, as well as provision of the Good Standing Certificate — 370 USD; Changes, namely replacement of a director — 400 USD or replacement of a shareholder — 400 USD;
- Redomiciliation (change of jurisdiction) of a foreign company to Seychelles — the cost of the service is 450 USD plus the cost of registering a company of your choice or an IBC company or a CSL company in the state;
- Obtaining a tax number for a company (TIN) — the cost of this service is 450 USD;
- In addition to IBC companies, funds and international trusts can be created on the territory of the state. The cost of creating a fund is 1800 USD, if additional services are required, such as the service of a nominee founder or a member of the Fund Council, the cost will increase by 950 USD. The annual renewal of the fund is USD 1,500;
- Fund Liquidation Services are 1300 USD.
- The creation of a trust fund costs 3000 USB (the cost of the service includes the creation of a trust, drafting a trust agreement, and a trustee's remuneration for 1 year). Collection of the trust property management for trustee services will be 0.2% of the total assets in the trust in excess of 50 000 USD. The annual renewal is — 2000 USD and the fee for the services of the trustee for the administration of the property of the trust will be 0.2% of the total amount of assets in the trust exceeding 50,000 USD.
- Liquidation services (termination of the trust) is 2,000 USD.
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Offshore companies in Seychelles and their features
When starting to work with an IBC company or creating a fund or trust, it is necessary to take into account the peculiarities of the territory where your company, trust or foundation is located. As an offshore, Seychelles is known to most countries in the world and therefore it is necessary to include IBC companies in agency and similar schemes, taking into account the trends in international and national legislation. It should be borne in mind that in many countries that have entered into an agreement on the exclusion of double taxation with the Republic of Seychelles, the actions of this law do not apply to IBC companies, which, if the situation is not fully analyzed, will cause serious difficulty. To completely eliminate such situations, our lawyers will advise you and give recommendations on the possibility of opening a company in other offshore zones. Do not forget about the initial analysis, especially for such complex tasks as working with offshore jurisdictions.