If you are planning to establish an offshore company, you need to decide first which jurisdiction you would like most to set up an offshore company.The Seychelles group of islands in the Indian Ocean covered four to five degrees south of the equator. It is the world’s fastest-growing and most dynamic offshore jurisdictions which offer its clients’ tax-efficient platforms for their operations.
The operations of offshore companies run under the International Business Companies Act 2016, and the registration process in Seychelles is very simple and straightforward, which makes it the best place for your offshore company. Tourism, commercial fishing, and the offshore services industry mostly made up the Seychelles economy. An Independent and stable economic and political environment favors the setting up of an offshore company in Seychelles.
Seychelles offers unique opportunities to its customers through an International Business Company (IBC) to the businesses and provides them a confidential, secure, and tax-free environment.
After passing of the International Business Companies Act 1994, Seychelles has been growing rapidly and offering clients offshore formation packages due to flexible structure, exceptional regulations, and enabling legislation, making it the best jurisdiction for offshore company formation. Unlike other natural disaster-prone offshore jurisdictions, it lies at a distance from the cyclone belt.
Seychelles is a flourishing offshore financial center in the world with innovative offshore services. Investors are flocking to Seychelles due to strict confidentiality laws, low cost, and flexible incorporation regulations. Seychelles may be the perfect place for your offshore company with firm privacy regulations and tax-free opportunities, which provides a supportive environment for establishing an offshore company. Let’s see why Seychelles is considered the best place for an offshore company, which features make it a unique jurisdiction.
Why should you choose Seychelles as an offshore company destination?
1. Low Registration and maintenance cost
The reason to choose Seychelles to register a company is quick and simple and takes one business day. Except for registration cost and maintenance cost, there is no other requirement to make a share capital deposit. No tax imposed on your income or profit, as well as exempt from filing annual returns, reporting, and providing audited statements. Besides, reduced incorporation costs and lower capital is required to set up a company. Also low costs of setting up and maintaining a company.
2. Assets protection
Another reason to choose Seychelles is a simple administrative requirement that ensures the protection of your assets in an overseas company. The rules and regulations are much simpler as compared to the other overseas offshore destination.
3.Legal Yearly Requirements
The yearly requirement for a Seychelles offshore company is very minor and straightforward. After setting up your offshore company, your offshore business can virtually run itself. Aside from a yearly license fee of $100 and a necessity to retain a local agent, there is no specific yearly requirement for Seychelles offshore company. However, you need to maintain and record income, expenses, assets, and liabilities. Otherwise, technically there is no actual requirement to file accounts or annual audits.
4.Nominating a Nominee Director or shareholder
After setting up an offshore company in Seychelles, they provide a nominee directorship agreement and sets out all agreement details. They were declared who is the nominee director and who is the real owner of the company. Seychelles permit corporations and individuals to be the director of a company.
Advantages of a Seychelles Offshore Company
Seychelles offers many advantages, making Seychelles IBC an attractive and unique place to establish an offshore company.
- No minimum capital requirement
- Tax-free haven
- Affordable license fee
- Only one shareholder or director is mandatory
- No corporate tax
- Provides great asset protection
- International trade zone
- Records are not declared publicly
- Well-respected offshore jurisdiction
- File records are not required
- No exchange control
- Fiscal incentives
- A skilled, professional and bilingual population
- Advanced communication network
- Free from exchange agreement and undesirable formalities
- Holds 46 tax treaties according to OECD standards
- Favorable corporate laws offer flexible and modern offshore products and services
- Strict banking secrecy to protect the privacy of foreign investors
- Solid banking secrecy, considered one of the best jurisdictions for protecting the privacy of its foreign investors
- Offers lenient policy on reporting interest incomes to overseas tax authorities
- Residence and work permits are available for foreign investors
Uses of a Seychelles Offshore Company
A Seychelles IBC has many potential business uses. Some are listed here
- International trading
- Leasing of other assets
- Asset protection
- Protection of intellectual property
- Estate planning
- Holding Company
- Tax avoidance
- Financial management
Seychelles seems like an idyllic bunch of paradise islands for spending an enjoyable holiday, but in reality, it is the best place to set up an offshore company. If you want to invest your money to double your income, you would think about an offshore company in Seychelles for your asset protection and growth.