Seychelles is considered to be an ideal place to set up offshore companies. Its strategic position has drawn the attention of many international investors. However, this is not the only reason for investor confidence in this country. The security there cannot be matched anywhere else, and this fact has also played a big role in the formation of many offshore companies on the Island nation. If you want to register a company in Seychelles, there are a few things that you should know.
There are different types of offshore companies in Seychelles. One is the Seychelles International business Company. This is the type of company that is private and limited by shares. The register company Seychelles regulations stipulate that with this type of company, there can be no business transacted with the people of Seychelles. You cannot have ownership interest in the country’s real estate. However you can lease property to be used as a company office. You will be required to have a license for insurance based transactions.
To register a Seychelles International Business company, you will only require a director and a shareholder. The directors and shareholders of the company can be from any country. You do not have to have a stipulated minimum capital to form the company. Your company will not be required to keep accounts. The officers, shareholders and directors do not have to declare their returns. For public record, you will only require your Articles of Association and the Memorandum.
The other type of offshore company is the Seychelles Special License Company. The features of this type of company include the right to perform any business that is allowed by the law. There are no bearer shares that are poermitted but you can have nominee shares. The directors need not be less than two and shareholders from other countries are allowed. You have to have a company secretary who is a resident of Seychelles. You are also required to file all your annual returns and audited accounts.
The Seychelles Limited Partnership is the second type of offshore business that you can open in Seychelles. This type of company will enjoy some substantial tax relief. With this type of company, you can receive income form outside Seychelles and then redistribute it to other foreign partners without having to worry about tax. The company is required to have general partners, limited partners and an office registered in Seychelles. If you are planning to get into an international joint business, then this is the right type of company for you.
The other type of company that you can set up in Seychelles is the Seychelles Protected Company. This is actually a local company that creates other affiliate cells so as to separate and safeguard other assets as allowed by the law. Each of the cells created can have their own assets but it is separate from the main company. It is the duty of the directors in this type of Company to keep cellular assets separate from non-cellular assets.
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