Seychelles is famous for its ideal business climate. Many entrepreneurs have taken advantage of the location and security that Seychelles has to offer its investors to set up successful offshore businesses. There are many advantages of forming a company in Seychelles. The formation is simple, there are few tax liabilities, you will be allowed anonymity and you will also be assured of asset protection. There are many types of offshore Seychelles companies such as the International Business Company and the Limited Liability Company. The companies all have similar formation features.
There are some documents that are fundamental in all the offshore company formation procedures. These documents include the memorandum and articles of association. These two documents are very useful in the day-to-day operations of the company. The details that are included in these documents include the member’s rights, the company’s objectives and internal processes. Another important document for all companies is the Certificate of Incorporation. This certificate is given by the Registrar of Companies. It is used as basic proof of the offshore company’s existence.
Another requirement that is general to all the offshore companies in Seychelles is a registration agent. Many offshore investors appoint agents in their jurisdiction. The main aim of having a registration agent is to make dealing with communication to the registrar easier and much faster. All companies are required to have an officially registered office. With this office, it will be easy for the company to send and receive mail, documents and official notices. The registration agent is the one who normally finds a registered office for the company.
All the companies should have members who are also the legal owners of the business or company. To make matters simple, most companies simply nominate shareholders who se purpose is to hold the company’s shares on behalf of the real owners. This also is done for anonymity reasons. Each of the companies is also required to have one or more directors. The directors are in charge of the day-to-day operations of the company. In some instances, you may find directors who have been nominated, but they run the company on the instructions of others. According to the Law in Seychelles, the people responsible for what happens to the company are the ones giving the instructions, not the nominated directors.
The Company Secretary is common in all the offshore companies in Seychelles. In some offshore company formations, the secretary is supposed to be a full time resident of Seychelles. The work of the company secretary is to ensure that the company meets all the stipulated statutory obligations.
All the companies have some form of statutory records, but they vary from company to company. Maintain registers is requires of all the companies. Some of the important records include minutes, members’ registers, officers, charges and directors. All the records are normally kept within each of the company’s jurisdiction. Bookkeeping is another requirement for all the offshore companies operating in Seychelles. These are the records that will help in auditing.
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