Company Incorporation in Seychelles – Vital information about this jurisdiction

Companies registered in the Seychelles have a flexible structure like most offshore jurisdictions, with no minimum or maximum capital requirements and a minimum of only one director and one shareholder (a person can be both, which means a company can be established and managed by only one person). Another option that can be exercised is the one that can often cause confusion in that the sole administrator can be another legal person. So the owner and director may be another local or international company which, if another Seychelles company, could be owned by another corporate entity and so on.

Unlike in the UK, companies registered in Seychelles are not required to file annual accounts or hold AGMs (Annual General Meetings) and, if they choose to hold an AGM anyway, they can do so anywhere and by any means. In fact, almost all of the general administrative tasks associated with running a business become optional and unattended. However, although the fees for company formation are higher than the amount required to register a company in the UK, the tax benefits will soon make the original start-up costs pale in comparison. Unlike the UK, there are annual renewal fees which come in the form of the registered address required to own a Seychelles-based company, government fees and, where necessary, nominee service charges.

Just because you register a company in the Seychelles does not mean you have to bank within the jurisdiction. However, it is generally a good idea to do so, as not only does it further verify the credibility of your organization by having both the registry and the bank in one place, but it would also bode well for you or the company if you ever you want to continue with your activities. on the island, how to obtain investments from residents and/or banks, etc. Local banks also offer a strict privacy system that protects any earnings from local and international authorities unless they have reason to suspect criminal activity. So while there is the option to bank elsewhere, most new arrivals choose to bank at one of the many secure banks on the island.

As with other international business companies registered in offshore jurisdictions, there are certain restrictions to incorporating a company in Seychelles. The first is that they cannot do business with Seychelles-based individuals and companies or own property within Seychelles, although they can own other Seychelles companies. They also cannot operate as an insurance company or investment fund without the appropriate licences, although these licenses are significantly easier and cheaper to obtain than in the UK or the US. While they can’t sell to locals, they can use local businesses like lawyers and accountants. While companies cannot own property, a rare feature is that they can own boats and other vessels that are registered and located on the island.

The company formation itself can be quite quick and painless if you get the right advice and can often be completed within 5 working days, under the name of your choice. In order to incorporate a company in the Seychelles, you must have a registered address on the island.