Onshore or offshore – which jurisdiction is best for your company? There is no correct answer to this question as everything depends on the situation. The kind of business, the legal form, the business goals, the location of counterparties – there are dozens of factors that make one destination suitable and exclude others. However, offshores have their irresistible appeal which is as relevant as ever.
We at the International Wealth portal know that good analytics is the first thing a future entrepreneur needs to make an informed decision. Therefore, you can book a free session to discuss the jurisdiction with us. In this post, we are going to focus on business registration in Seychelles, and you can read a full article on how to set up an offshore company in Seychelles on our portal or ask questions to us straight away.
Our specialists will help you with all administrative procedures that are done on-site as we have a network of agents in almost any country that is popular as a destination for business registration. If you need to open a corporate account for your company without much hassle, we will help you choose a respectable bank for free and make sure you get a fully operational account in no time. In short, we will help you forget about formalities and focus on real business instead!
Why Seychelles?
Seychelles is not just a beautiful island but also a financial hub that boasts enhanced confidentiality standards and reliable asset protection. Foreign investors flock here to take advantage of tax incentives that make their business activities much more profitable. An offshore entity registered in Seychelles will be good for any business undertaking, from trade to e-commerce and consultancy.
Benefits of Company Establishment in Seychelles
Let’s look at the advantages that an offshore company in Seychelles will have as compared to a similar structure set up somewhere in Europe:
- Seychelles offers a really low cost of company (IBC or partnership) setup if we compare it with other offshore jurisdictions.
- Seychelles is a well-known tax haven, which means that you will not pay any taxes whatsoever on two conditions: the activity you engage in is not licensed and you generate 100% of your profit outside Seychelles.
- Benefit from a high level of confidentiality: no public documents are disclosed on a mandatory basis that mention the names of company directors, shareholders, or beneficial owners. You can also use nominees as an additional privacy layer on an absolutely lawful basis.
- Easy start. You will not have to comply with exorbitant requirements to start your IBC or partnership: one share worth $100 is enough to launch the process.
- Global compliance. Seychelles satisfies all the international standards and is not blacklisted by OECD, so you can safely conduct your business here without fear of any restrictions.
- Quick incorporation. You will only need a registered agent to benefit from accelerated IBC or partnership establishment on the island. There are no requirements for physical presence in Seychelles, so you will not have to worry about that.
- There is no currency control.
- If you are looking for social and economic stability (just because business prospers in such conditions), Seychelles is a place for you.
- If you need to hold company meetings, you are free to do so in any part of the world, not just in Seychelles.
- Profit repatriation is duty-free, and you will have no obstacles whatsoever.
- Seychelles does not depend on any country in making decisions (like former British dependencies or EU members, for instance), which gives the country more freedom in adopting its own regulations that will be beneficial for international investors.
All of these impressive characteristics make Seychelles a truly exceptional jurisdiction suitable for the realization of any conceivable business undertakings.
Company Establishment in Seychelles: Procedure
Company name
There are many recommendations on how to choose a company name, but we recommend focusing on these:
- Your name should bear some connection with your operations
- It should remain relevant as the business evolves
- Finally, it should be easy to memorize and resonate with your target audience
Remember to use some approved suffixes, like Limited, Inc., or Corp. We will check whether the name is available and reserve it for you.
Apply for Registration
At this stage, you may decide to venture on your own and spend some time studying the local laws, procedures, and the experience of those who succeeded, or engage a specialist. We at International Wealth know how to help you incorporate a company without much hassle and how to deal with possible pitfalls, so you can contact us by following the above link.
Find Local Representatives
You will need to take care of the following components for successful company setup:
- A registered agent who will deal with your company’s incorporation
- A legal address in Seychelles
- A resident director who will manage your Seychelles company (according to your instructions)
These are mandatory requirements, and if that sounds too hard to realize, we are here to lend a hand.
Prepare the Package of Documents
This is a very responsible step as you will have to fill out the forms properly and prepare all the required documents. The list may vary from time to time, so we recommend asking our experts for an up-to-date version.
Our responsibility is the thorough check of your documents to make sure they are prepared and filled in an appropriate way to guarantee approval and avoid delays.
The corporate documents will have to be signed by the customer in the appointed location or by proxy.
Waiting for Approval
Upon signing, the documents are transferred to the local authorities for approval. If everything is in order (and this is our job to ensure that it is so), your incorporation process will be completed within no more than 5 business days. The process is completed remotely, and we will send the documents to you.
Opening a Bank Account
If you have no bank account to make the company fully operational, it’s time to open it. We will help you choose a suitable jurisdiction and bank for free, so do not hesitate to get in touch with us and book a session. We will need to do some analytical work, like taking into account the operations you will need to conduct.
Registration with Tax Authorities
Finally, we will help you get a tax identification number in Seychelles.
Do you need help with offshore company registration online? We are just a click away – follow the above link to talk to an expert!
