Firms registered within the Seychelles have a versatile structure as with most offshore jurisdictions, with no minimum or maximum capital requirements and a minimum of only one director and one shareholder (one person might be each, meaning an organization might be set-up and ran by only one person). Another choice which might be exercised is one which can often cause confusion in that the only real director might be one other corporate entity. So the owner and director might be one other local or international company which whether it is one other Seychelles company, could potentially be owned by one other corporate entity and so forth, and so forth.
Unlike within the UK, Seychelles registered firms usually are not required to submit annual accounts or hold AGM’s (Annual General Meetings) and may they opt to carry an AGM anyway, it may be done anywhere and by any means. Actually, just about all of the overall administrative duties related to running an organization develop into optional and unsupervised. Nevertheless, whilst the fees for the incorporation of the corporate are higher than the quantity required to register a UK company, the tax advantages will soon make the unique start-up costs pale compared. In contrast to the UK, there are annual renewal fees that are available the shape of the registered address required with the intention to own a Seychelles based company, government fees and where mandatory the nominee service charges.
Simply because you register an organization within the Seychelles doesn’t mean that you simply are required to bank throughout the jurisdiction. Nevertheless, it is usually a very good idea to accomplish that as not only does it further confirm the credibility of your organisation having each it’s registration and bank in a single location but would also bode well for you or the corporate if ever you would like to further your activities on the island – corresponding to sourcing investment from residents and/or banks etc. The local banks also offer a strict privacy system protecting any earnings from each local and international authorities unless they’ve reason to suspect criminal activities. So whilst the choice is there to bank elsewhere nearly all of latest incorporations opt to bank with considered one of the various secure banks on the island.
As with other International Business Firms registered in offshore jurisdictions, there are specific restrictions for a Seychelles company incorporation. The primary is that they’re unable to do business with individuals and corporations based within the Seychelles or own property throughout the Seychelles, although they’re able to own other Seychelles firms. Also they are unable to operate as an insurance company or investment trusts without the suitable licences although these licences are significantly easier and cheaper to acquire than within the UK or USA. Whilst they can not sell to locals, they’re able to use local businesses corresponding to lawyers and accountants. Whilst firms are unable to own property, a wierd feature is that they will own boats and other vessels which are registered and situated on the island.
The corporate formation itself might be quite quick and painless if appropriate advice is obtained and might often be accomplished inside 5 working days, under the name of your selection. To give you the option to include an organization within the Seychelles, you’re required to have a registered address on the island.