Foreign investors seeking toopen companies in Seychelles will be subject to both advantages and restrictions which can be entirely explained by our local consultants.
Foreign entrepreneurs who want to open companies in Seychelles will benefit from the same requirements as local business people, which is why starting a business in this country as a foreigner is so appealing.
Having an appreciated taxation system and concentrating on how businesses should be registered as private as possible, Seychelles is the insular state where foreigners can easily set up their offshore companies. The registration process of an offshore in Seychelles is simple and can be guided by our team of specialists in company incorporation in Seychelles.
Types of companies which can be set up by foreigners in Seychelles
Even if the general impression is that foreigners only set up offshore companies in Seychelles, the legislation also provides for other types of companies and structures which can be set up by local or foreign entrepreneurs. Among these are:
- special license companies (CSL) which are used for conducting onshore financial activities;
- anonymous companies which can be used for onshore trading activities in Seychelles;
- proprietary companies which are the equivalent of foreign limited liability companies;
- trusts which can take two forms and can be used for asset protection purposes;
Our company formation specialists in Seychelles can offer detailed information about all the types of companies foreign entrepreneurs can register here.
Requirements for foreigners registering Seychelles companies
When setting up a business as a foreigner in Seychelles, there are a few aspects to consider. The first and most important one is related to having a registered agent who handles the incorporation procedure with one of the authorities in charge of accepting and issuing the Certificate of Registration for local companies.
The foreign investors must also choose a local legal address and appoint a resident director for the Seychelles company. We also mention that there are no share capital requirements related to opening a company in Seychelles as a foreigner.
Once these formalities are completed, the company registration procedure can start. It takes around 6 weeks to open a company as a foreigner in Seychelles, considering all the formalities which need to be completed.
Important steps in registering an offshore in Seychelles
From the beginning, we mention that Seychelles is considered a tax haven and an important player on the market from this point of view, as numerous business persons decide to protect their assets in this manner, by creating offshore companies. The registration process of a company in Seychelles is made under complete confidentiality, as the information about the owner and the directors will not be displayed publicly. The Companies Registrar in Seychelles is the institution in charge of business registration. The process involves only drafting the Articles of Association without having to mention personal details about the ownership.
We remind that companies in Seychelles are not subject to the annual financial report, or taxes on profits, which is why foreigners worldwide decide to place their revenues through offshores in Seychelles. If you are interested in opening a company in Seychelles, we suggest you address your questions or concerns about our company formation agents in Seychelles.
Documents needed to open a company in Seychelles
Apart from the company’s incorporation documents which need to be prepared by the Seychelles registered agent, the following aspects must be considered:
- the company will also need a name which must be unique and reserved prior to starting the registration procedure;
- the personal information of the shareholder must be provided to the Companies House, even if it will not be made available to the public;
- information about the company director and proof of his or her residency must also be provided;
It should be noted that the above-mentioned information can be submitted prior to the preparation of the incorporation documents. Based on them, the Companies Register will issue an identification number and once the Articles of Association are submitted, the company will receive its Certificate of Registration. Also, there are no requirements for the foreign shareholders of the Seychelles company to come here for the Annual General Meeting.
Taxation of foreigners owning companies in Seychelles
When it comes to the taxation of foreign individuals opening companies in Seychelles, they can be subject to taxes in their home countries, in accordance with the double tax treaties signed by their home countries with the insular state. This is because offshore companies are subject to a 0% corporate tax in Seychelles.
Restrictions on opening a Seychelles company as a foreigner
Seychelles is a very advantageous country to do business in, however, there are also certain restrictions which must be respected by those setting up companies here. These restrictions do not apply only to foreigners, but also to local investors. For example, a Seychelles offshore company cannot issue bearer shares, no matter if its owner is a local or a foreign businessman.
Certain restrictions also apply to the trade name of the company. According to the law, certain words, such as government, republic, and Seychelles cannot be used when reserving a company name, while for others special permission is required. The last requirement applies when setting up companies in the financial sector in Seychelles.
Other restrictions related to opening an offshore company as a foreigner in Seychelles is related to the not being allowed to trade on the local market and to own property in this country. The offshore company cannot engage in any type of financial activities.
The advantages of a company registered in Seychelles
The high level of privacy is probably the most interesting and appreciated advantage linked to the offshore company registration in Seychelles. The authorities have also developed a provision which protects companies against assets confiscation or naturalization if it is the case, the courts sustaining the rights of the business. Even if it presents low interest when registering an offshore, a registration fee of about $100 must be considered. Above all benefits, the most significant one is the complete protection of assets which also comes with a tax-free regime and all kinds of financial tools for future developments and investments in a company.
Call us now at (+44)203-287 0408 to set up an appointment with our lawyers in Victoria, Seychelles. Alternatively you can incorporate your company without traveling to Seychelles.
As a BridgeWest client, you will benefit from the joint expertize of local lawyers and international consultants. Together we will be able to offer you the specialized help you require for your business start-up in Seychelles.