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Republic of Seychelles

Republic of Seychelles is an archipelago nation consisting of more than one hundred islands in the Indian Ocean that became independent from the United Kingdom in June of 1976. Mahe is the largest island. Now Seychelles is a member of the Commonwealth of Nations. The law system is modeled on the Common Law of England and the Civil Law of France.

  • Official languages — English, French and Seychellois Creole.
  • Currency — Seychellois rupee (SCR).
  • Main sources of Seychelles income — tourism service, fishery, offshore companies. The government encourages foreign investments to be the main factor of national economic growth. In order to develop this sector and to make the process of registration of offshore companies easier the government established the Seychelles International Business Authority and passed a range of special laws. Seychelles is an advantegeous territory for registration of companies with a fully legal tax exempt status. The company can not run any onshore business and must be controlled and managed from overseas.
  • Main act of legislation for registration of an international company in Seychelles - The International Business Companies Act, 1994.

Necessary information you need to known planning to register a company in Seychelles:

  • Registered type of company — International Business Company (IBC).
  • Registered address / Agent — company must have a registered address in Seychelles and a registered licenced Agent. The Agent presents a company to all state departments.
  • Minimum number of directors and shareholders allowed — one. It can be either a natural person of any nationality and residence or a legal entity.
  • Information about directors and shareholders — closed for public access, but the agent keeps the registers of directors and shareholders.
  • Accountancy — company must keep its financial statements but there is no requirement to to give any account or perform annual audit of the company.
  • Taxation — a company is exempted from any kind of taxation and must pay only fixed annual state fee.
  • Bearer shares – allowed.
  • Authorized capital — according to the changes made in October 2007 there is no requirement on the sum of the authorized capital and terms of its payment. The amount of authorized capital does not influence the registration fee for a new company and annual duty. Minimum number of shares allowed - one share at par value or one share of no value.
  • Limitation of offshore company activities – companies are neither allowed to do any onshore business nor to have property in Seychelles. Special licenses are needed to run banking, insurance and trust services.
  • Banking — Not all banks open accounts for companies registered in Seychelles. The country is included into the 2nd group of the Central Bank of the Russian Federation direction (Appendix 1 to the Bank of the Russian Federation instruction dated on the 7th of August 2003 № 1317-У) and the «grey list» of OECD (Organization for Economic Co-operation and Development) according to the summary of Q20 sammit on 2nd April 2009.

Standard package of the documents:

  • Certificate of Incorporation
  • Appointment of First Director
  • Memorandum & Articles of Association
  • Notarized and Apostilled set of copies of the documents
  • The company's seal