Seychelles
Geographic location:
Indian Ocean
Population:
81,188
Native Language (s):
English, Creole, French
Currency:
Seychelles Rupee
Political Status:
Parliamentary Democracy
Legal System:
English Common Law and Napoleonic Code for Civil Law
SEYCHELLES
COMPANY FORMATION
First Year
Incorporation cost USD 1,500*
Second Year
Maintenance cost USD 700
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OFFSHORE COMPANY - SEYCHELLES
The Seychelles comprises of a group of small islands situated in the Indian Ocean, to the north of Madagascar. The capital Victoria is located within Mahé, the main Island. The Seychelles is becoming one of the most attractive offshore financial international centers due to the incentive laws implemented by its government. In 1994 legislation was enacted covering the registration of offshore companies, trusts and international trade zone companies. Further amendments were made to the Act in 2003 with the creation of additional types of companies. In 2005 the Seychelles International Business Authority (est.1994) said that that it intends to boost the offshore financial industry to an annual turnover of US$300 million per year over the next 10 –15 years. This jurisdiction offers total confidentiality and anonymity and is recommended for high profile trading operations. It has excellent up-to-date telecommunications network and advanced professional and technological infrastructures.
International Business Company
The International Business Companies Act 1994 allows significant flexibility for this type of corporate vehicle. Both individuals and corporations may act as the shareholder, director and secretary, whilst the sole director can also act as the shareholder. Along with minimal filing requirements and low government fees an IBC incorporated in the Seychelles represents excellent value for money. A Seychelles IBC is not permitted to trade or to own a real estate within Seychelles or to offer the service of registered office in the Seychelles. An IBC in the Seychelles is not subject to exchange or currency controls.
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