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Taxation in Seychelles

Updated on Tuesday 19th December 2017

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Taxation-in-SeychellesTaxation is one of the important aspects verified by foreign investors when seeking for a location to set up a business in. From this point of view, the Seychelles offers many advantages, among which the offshore company, also referred to as the IBC (international business company).

The Seychelles taxation system applies based on tax residency, meaning that an individual or company must have a place to live, respectively a registered address or management place here. Our Seychelles company formation consultants can offer full information on how taxes apply in this country.

Tax rates in the Seychelles

At first, the tax rates imposed by the authorities in the Seychelles may seem high; however, it is useful to know that the local taxation system provides for many advantages.

The taxation system in Seychelles is made of up of the following main taxes:

  • -          the personal income tax applied to individuals applied at a 15% rate;
  • -          the corporate tax which is applied at various rates ranging between 0% and 33%;
  • -          the value added tax which is applied at a 15% rate.

The Seychelles has also signed various double tax treaties through which the corporate tax rate can be reduced. Our company registration agents in Seychelles can offer more information on the taxes applied to individuals and companies operating here.

Tax advantages in Seychelles

We mentioned earlier that the Seychelles taxation system provides for several advantages for companies. One of the best examples is the IBC form which benefits from a 0% corporate tax and exemptions from the withholding tax on dividends. Also, the repatriation of profits derived from an offshore company in Seychelles is free of tax for foreign investors.

Other particularities related to the taxation of companies in Seychelles imply:

  • -          a 1.5% tax rate applied to special license companies;
  • -          a business tax applied to companies at a rate of 25% for the first 1,000,000 SCR and 33% on any amount above it;
  • -          capital gains are not taxed;
  • -          there is no stamp duty;
  • -          a reduced VAT rate of 0%.

Foreign investors who want to open companies in Seychelles are invited to contact our local company formation advisors for assistance with the registration process. You can also rely on us for more information on taxation in Seychelles.

 

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