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Offshore Company Seychellesseychelles Seychelles

1.Introduction

(1) Geographic Location

Geographic Location of Seychelles

Seychelles is situated off the coast of East Africa in the Indian Ocean, northeast of Madagascar. 115 small islands have formed this beautiful tropical archipelago, which is also the vital communication hub of Asia and Africa.

(2) Economy

Seychelles has a relatively well-developed economy. The country is heavily dependent on agriculture and fishing industry, and has very little mining activity and no industrial activity at all. Seychelles’ main export products are dried coconut and cinnamon oil. Tourism, especially foreign tourists’ consumptions, also plays an important part in generating the country’s revenue.

(3) Tax System

The Seychelles Government has expressively stipulated that foreign source of income, inheritance and gifting of foreign assets, and trust profits are exempt from tax; and offshore companies are not bound by foreign exchange control of the country. Seychelles has signed bilateral tax agreements with major countries around the world (already signed: mainland China, Indonesia, South Africa. To be signed: Thailand, Vietnam, Egypt, Russia, Malaysia, Yemen and Zimbabwe). Seychelles has been proactively developed its Offshore Company business in recent years; it has incorporated the advantages of French Civil Law and British Common Law to set the International Business Company Act with an expectation of winning a position in offshore finance.
Seychelles has official diplomatic relations with and an embassy in mainland China. For companies whose documents need to be certified by the government of mainland China, relevant services will be provided to facilitate the process of making an investment in mainland China.

(4) Company Type

1. International Business Company (IBC)-The main business type at the moment. Declaration and audit are not required; tax free. Not tax concession from the tax agreement. 。
2. Special License Company (CSL)-Not available at the moment.

2. Conditions and Advantages of Establishment

  • Scope of Applications Holdings companies. International Trade.
  • Registered Capital Generally USD 1,000,000
  • Shareholders 1 (may be a natural person or juridical person, shall be above 18years old. May be a director and secretary concurrently)
  • Directors 1 (may be a natural person or juridical person, shall be above 18 years old)
  • Secretaries 1 (may be a natural person or juridical person, shall be above 18 years old)
  • Stock Issues Registered
  • Company Information Establishment and amendment relevant documents (photocopy or original copy) that have been signed shall all be submitted to the registration office for archiving. The said documents shall be updated from time to time and be preserved by registered agent; local government will send inspectors to check the documents.
  • Annual declaration Shall sign back the original copy of annual declaration form and be submitted to the registration office for archiving.
  • Annual Report and Income tax Declaration No need (the company shall keep it for 7 years and notify the competent authority where relevant documents are preserved)
  • Tax Burden No tax on foreign income
  • Whether to mark its Chinese name. Yes
  • Working days required to set up the company. (1) Listed company: 4 to 7 working days.
    (2) Self-named company: 14 to 21 working days.