Seychelles is an independent republic that is located 1200 kilometres in the Indian Ocean. It is also a member of the British Commonwealth of Nations. However, its financial stability has made it the second richest country in Africa.
Its economy is driven by tourism, commercial fishing, and the financial industry. Government policies and regulations promote growth in the financial industry of Seychelles. Seychelles is considered a wise choice when it comes to offshore investments. Thus the stable financial centre offers many incentives to foreign investors. Some of these incentives include;
- Straightforward registration process
- Enhanced privacy
- Tax Haven
- Asset protection solutions
Straightforward registration process
The process of registering an offshore company in Seychelles is easy and flexible. All you need is to fill the order form and provide certified copies of passports and utility bills or bank statements for the proof of address. It also takes a short time like 4-8 working days to set up a company.
Offshore companies are flexible meaning that they can be used for several international business purposes. They also do not require any paid-up capital to complete the registration process. Also, there is management simplicity therefore, there is no need to hold the shareholder’s meetings in Seychelles and corporate decisions are very easy to make.
Here is what is needed to set up a company in Seychelles;
- A notarized passport copy for the company founder;
- A notarized passport copy for the company director (if it is a different person);
- If the company in Seychelles is founded by a corporate entity rather than a private individual, corporate documents are required (copies);
- In nominee services are used, nominees’ IDs are required;
- Memorandum & Articles of Association
Enhanced privacy
Seychelles offshore companies are significantly attached to their privacy and confidentiality guarantee. The jurisdiction implements strong protections against disclosure of information relating to the identities of the company’s beneficial owners, directors, and shareholders.
Tax haven
Seychelles tax haven is a good option for new investors and entrepreneurs to go offshore. In addition to Seychelles’ favourable location, robust economy, effective regulatory regime, this tax haven also includes a range of stand-out characteristics to prove its business-friendly environment for foreigners such as its tax-free feature for foreign-source income, strong privacy provisions, and more.
The fast-growing offshore service industry in Seychelles promises strong support for offshore company operations and development. Seychelles is a tax-free entity meaning that there is a total exception of taxes for offshore companies that are well guaranteed by legislation. Offshore companies in Seychelles are not taxed, at all, on their offshore profits, dividend payments
Asset Protection Solutions
By opening an offshore company in Seychelles you are allowed to shift some of your assets to a secure location. Offshore companies can also file legal claims, acquire tangible assets and make investments in the country. The government regulations allow the company to conduct business freely. This also mitigates the risk of international economic barriers constructed through political instability.
Conclusion
Seychelles government regulations and policies have promoted the growth of the financial industry. For that reason, more offshore companies have been set up in the country. However, the company registration and setup process is flexible and easy.