Seychelles Corporate Formation


Seychelles Company Formation

Seychelles is situated in the Indian Ocean, and comprises of various small islands and such geographical location where Madagascar is situated in the north of it. Victoria is the capital of Seychelles and is located within Mah, which is the main island of the country. Seychelles is setting bars of popularity in the offshore market on the basis of its incentive legislation, the example of which is the Investment Promotion Act that was imposed in the country to attract investment, in 1994. Country is recommended for top notch trading operations because Seychelles maintains the confidentiality and the secrecy of the corporations. Apart from legal framework, modern, professional and latest telecommunication and technological set up also adds in the plus points of the Seychelles.

There are minimum filing requirements and low government fees for the companies, incorporated in Seychelles and thus, The International Business Companies Act 1994 gives flexibility and feasibility to start business and invest in Seychelles and provides for the opportunities for corporate vehicles. It can be well said that Seychelles values the money but there are pros and cons of every investment and following are some of restrictions in this regard, especially for IBCs:

  • IBCs cannot trade or own real estate in the country.
  • IBCs don’t have the offer of registered office in the country.
  • IBCs don’t have any currency control.

Incorporation Requirements

Following are the requirements for company incorporation in Seychelles:

Directors

  • There is a requirement of minimum one director and it’s not necessary for the directors to be resident or nationals of Seychelles.
  • It is allowed to appoint corporate directors.
  • No need for director’s meeting.
  • Meetings location have no restriction.
  • No need for maintaining public director’s register.

Secretaries

  • There is a requirement of minimum one secretary and it’s not necessary for the secretaries to be resident or nationals of Seychelles.
  • It is allowed to appoint corporate secretaries.
  • No professional qualification requirement for the secretary.

Shareholders

  • There is a requirement of minimum one shareholder.
  • It is allowed to appoint corporate shareholders.
  • No need for maintaining public shares register.
  • Par values of shares are not permitted.
  • Share capital is authorised to be of 5,000 shares with the value of each share of USD 1.
  • Shareholders are allowed to retain or possess bearer shares.

Incorporation Fee

Kindly have a look at the section of fee schedule for description of incorporation fee. However here is the summary of the fees structure:

  • Fees of government.
  • Fees of local secretary.
  • Fees of local agency.
  • Fees of registered office.
  • Fees of our service.

Once your company incorporates, you will get; certificate of incorporation along with M & A five copies, and original formation documents and minutes.

Incorporation Time                                          

It takes 1 to 2 weeks for company incorporation in Seychelles.

Offshore Bank Account

For the updated details on the facility of offshore bank account, please refer to the section of fee schedule.

Miscellaneous

  • Company should have registered agent.
  • If all shareholders or some are nominee, then there is no need to declare shares ultimate beneficial ownership to authorities.
  • Annual returns of the company must be demonstrated.