Company Types in Seychelles
Our firm can assist you with incorporating the optimal corporate structure for your company in Seychelles. Those who want to set up a company in the Seychelles are suggested to set up their special license company or a Seychelles offshore company. Although they are more complex to establish, but they have full access to the double tax avoidance treaties of Seychelles. We can also assist you in a limited liability company and limited liability partnership company set up. Seychelles company types are as follows.
International Business Company/ Seychelles Offshore Company
Such companies are also known as IBC. These companies are only allowed to sign contracts and conduct operations with the entities that are based outside of Seychelles. An IBC company can setup with only i) 1 director ii) U.S $1 of capital, and iii) 1 shareholder, who can be a same person (director and shareholder). Shareholder and directors do not need to be Seychelles resident and they can be the corporate of individuals.
Some registration requirements applicable to the Seychelles offshore companies are, i) appointment of local agent that can hold an international business license granted by SIBA “Seychelles International Business Authority” and ii) provision of an address registered in Seychelles.
The Seychelles offshore companies are not subject to i) annual returns ii) audit requirements or iii) corporate tax. Moreover, they are not required to submit financial statements, but they must be prepared as well as kept at the registered agent’s office of the company. However, these companies do not have any access to double tax avoidance treaties.
Seychelles special license company (CSL)
Seychelles CSL license companies are incorporated as domestic companies, but they then get a special license by “Seychelles Financial Services Authority.” You can set up this business entity with i) 2 shareholders that can be non-resident foreigners and corporates ii) 2 individual directors iii) a minimum U.S $1 and v) a resident company secretary required by law.
The Seychelles special license companies are considered residents for the tax purposes. According to “Companies Special License Act of 2003” such business entities can benefit from an advantageous corporate tax of 1.5 percent, on their earning sources from outside Seychelles.
However, these tax advantages come with more compliance requirements as compared to the Seychelles IBCs, the Seychelles CSLs are required to file every year i) audited financial statements and ii) an annual return.
Proprietary Company/ Seychelles Limited Liability Company
It is commonly known as “Seychelles proprietary company.” A Seychelles LLC can easily be established with i) 2 shareholders that can be non-resident foreigners and corporate ii) 1 resident company secretary iii) 2 individual directors and iv) a minimum of U.S $1.
A Seychelles LLC is allowed to trade in all sectors with nonresidents as well as residents, provided the relevant license, which is grated in the regulated industries. However, they are subject to the standard corporate tax rate of up-to 33 percent, on total earnings.
Seychelles Branch Office
Offshore companies can set up their branch offices in Seychelles, but they must appoint 2 agents for this purpose, and they must be the Seychelles residents. The parent company will define the scope of operations for the branch. Furthermore, the office will have a separate corporate bank account and an independent management team. The parent company will bear unlimited liability for the debts of office, even if the branch encounters financial difficulties.
If you are interested in Seychelles Readymade Companies with and without bank accounts do contact us.