The Seychelles CSL is a Seychelles domestic company, incorporated under the Companies Act 1972, which is granted a special licence under the Companies Special Licence Act 2003. Unlike the Seychelles IBC, a tax exempt entity and non-resident for Seychelles tax purposes, the CSL is a tax resident of the Seychelles and may carry on permitted business inside as well as outside of Seychelles. However, the permitted business requirements are such that CSL status is only granted where the Company is to hold investments, or provide services to clients, outside of Seychelles.
Key Features
Seychelles CSL | Corporate Details |
General | |
Legal System | Common Law/Civil Law Hybrid |
Disclosure of Beneficial Owner to Registrar | Yes |
Disclosure of Beneficial Owner to Registered Agent | Yes |
Migration of Domicile Permitted | Yes (Incoming and Outgoing) |
Non-English Language Names Allowed | Yes |
Operational Objects | Specific to intended business |
Tax Resident | Yes |
Tax on Worldwide Profits | 1.5% |
Access to Double Taxation Avoidance Treaties | Yes |
Corporate Requirements | |
Minimum Shareholders | Two |
Minimum Directors | Two |
Bearer Shares Allowed | No |
Corporate Directors Allowed | No |
Company Secretary Required | Yes |
Standard Authorized Share Capital | USD 1,000 (up to USD 100,000) |
Minimum Paid Up Capital | 10% of authorized share capital |
Corporate Seal | No |
Local Requirements | |
Registered Office/Agent | Yes |
Local Secretary | Yes |
Local Directors | No |
Local Meetings | No |
Government Registry of Directors | Yes, not public |
Government Registry of Shareholders | Yes, not public |
Annual Requirements | |
Audited Accounts | Yes |
Annual Filing of Returns | Yes |
Annual Meeting | No |
Meeting Location | Anywhere, proxy also allowed |
Incorporation Time | 2-4 weeks depending on the time it takes for the client to return the application and supporting docs |
Advantages
- A CSL is liable for Seychelles business tax at the rate of 1.5% on its world-wide taxable income.
- A CSL is exempt from Seychelles withholding taxes on dividends, interest and royalties
- A CSL is exempt from stamp duty on property transfers, share transfers and other business transactions
- The fiscal exemptions granted to a CSL under the CSL Act shall be guaranteed for ten years from the date of incorporation of a CSL and shall continue in force thereafter unless otherwise provided for by written law (the statutory guarantee period is anticipated to be extended to 20 years)
- The CSL (unlike the IBC) has access to Seychelles’ steadily expanding network of double taxation avoidance agreements DTAs – including China, Thailand, Indonesia, Malaysia, Cyprus, South Africa, Botswana, Mauritius, Oman, etc.
Why AAA Management services
- Speedy, Efficient and consistent Services.
- Relentless effort to obtain bank accounts.
- Expert advice on structuring options.
- Dedicated ongoing compliance support.