SEYCHELLES
- IBC
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Principal Corporate Legislation
The International Business Companies Act 1994.
Type
of Law
Based on English Common Law and French Civil Law.
Type
of Company for International Trade and Investment
The Seychelles International Business Companies.
Procedure
to Incorporate
Filing of Memorandum of Incorporation at the Registry. The Articles
of Association can be filed either at the same time or within 30 days
of incorporation.
Restrictions
on Trading
Cannot trade within the Seychelles or own real estate there. Cannot
undertake the business of banking, insurance, assurance, reinsurance,
fund management, asset management (other than the company’s own assets)
or any other activity that would suggest an association with the banking
and insurance industries. A Seychelles IBC cannot provide registered
office facilities in the Seychelles, or sell its shares to the public.
Powers
of Company
A Seychelles incorporated Company has the same powers as a natural person.
Language
of Legislation and Corporate Documents
English or French. If any other language is used it must be accompanied
by a translation in either English or French.
Registered
Office Required
Yes, must be maintained in the Seychelles at the office of a licensed
Registered Agent.
Shelf
Companies Available
Yes.
Time
to Incorporate
One-Two days.
Name
Restrictions
Anything identical or similar to a company already incorporated. Anything
that implies patronage of the Seychelles, or any other government, insurance,
royal, imperial or any other name that may imply that a company intends
to undertake a licensable or undesirable activity.
Language
of Name
The name can be in any language, but must be accompanied by a translation
in English or French. The documentation will either be in English, or
it is possible to have bilingual documentation in English and Chinese
or any other language accompanied by a translation in English or French.
Suffixes
to Denote
Limited Liability Limited, Corporation, Incorporated, Société Anonyme
or their abbreviations. A wide variety of other suffixes such as BV,
GmbH, and SARL may also be used.
Disclosure
of Beneficial Ownership to Authorities
No.
Compliance
Authorized
and Issued Share Capital
Seychelles IBCs are normally incorporated with an authorized share capital
of US$ 5,000 with par value. This being the maximum for the minimum
license fees. The authorized share capital may be expressed in any currency.
The minimum issued capital is either one share of no par value or one
share of par value.
Classes
of Shares Permitted
Registered shares, bearer shares, shares of no par value, preference
shares, redeemable shares and shares with or without voting rights.
Taxation
An International Company is exempted from local taxation.
Tax
Treaties
China, South Africa and Indonesia.
License
Fees
For an Authorized Capital of up to US$ 5,000 the annual license fee
is US$ 100. Between US$ 5,001 and US$ 50,000 Authorized Capital the
annual license fee is US$ 300. Over US$ 50,000 Authorized Capital the
annual license fee is US$ 1,000.
Directors
The minimum number of directors is one, who may be a natural person
or a body corporate. They may be of any nationality and need not be
resident in the Seychelles.
Company
Secretary
A Seychelles IBC need not appoint a company secretary, although it is
customary to do so. The secretary may be a natural person or body corporate,
be of any nationality and need not be resident in the Seychelles.
Shareholders
The minimum number of shareholders is one.
Other
Facilities Available in Seychelles
In addition to a modern suite of corporate legislation the Seychelles
benefits from a range of other facilities including:
- Trust
legislation.
- Efficient aircraft
and shipping registration.
- Provision for
the formation and domiciliation of mutual funds and captive insurance
companies.
- An International
Trade Zone for manufacturing and service companies, benefiting from
zero taxation, streamlined application procedures and the ready
availability of work and resident permits.
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