Seychelles
The Republic of Seychelles was originally a French colony; it was acquired by the British and became independent in 1976. The capital and financial centre is Victoria. In 1994 the Seychelles introduced legislation, which enabled the formation of international business companies and international trusts and covering the licensing of International Trade Zone companies.
The Seychelles International Business Authority regulates the financial services sector, which licenses businesses, which engage in offshore banking, offshore mutual fund and offshore insurance activities and the formation of offshore companies and trusts.
International Business Companies pay a fixed annual license fee, according to the size of the authorised capital. A special license company, i.e. a company operating in the International Free Trade Zone pays at 1.5% on its worldwide income.
| Seychelles offshore company regulations | |
| Type of entity | IBC |
| Type of law | Hybrid |
| Corporate taxation | Nil |
| Double taxation treaties available | South Africa |
| Share Capital | |
| Usual currency | U.S.$ |
| Permitted currencies | Any |
| Minimum paid up | Usually $1, but no par value and bearer shares available |
| Usual authorised | $5,000 |
| Directors | |
| Minimum number | 1 |
| Local resident required | No |
| Records publicly available | No |
| Corporate Directors allowed | Yes |
| Shareholders / Members | |
| Minimum number | 1 |
| Records publicly available | Optional |
| Location of Meetings | Anywhere |
| Company Secretary | |
| Required | No |
| Local or qualified | N/A |
| Accounts | |
| Required | Yes |
| Audit required | No |
| Filing required | No |
| Publicly available | No |
| Other | |
| Annual return required | No |
| Change of domicile permitted | Yes |
| Shelf companies availabe | Yes |
| Time to incorporate shelf co | 2-3 working days |
| Time to incorporate new co | 3-5 working days |
