Seychelles

General Information

Area – 455 sq. km

Population – 90,024 people

Capital – Victoria

Official language – French, English, Seychellois Creole

Official currency – Seychelles Rupee (SCR)

Key Aspects

Treaties for the avoidance of double taxation were signed with China and Indonesia. A special licence is required to provide banking and insurance services.

Company Type

The most popular type of a company in Seychelles is a corporation.

Corporate Legislation

International Business Companies Act 1994

Main Requirements for Company Directors and Shareholders

There should be at least one director and one shareholder in a company. Nominee directors and shareholders are allowed to be used. They may be residents of any country, both natural persons and legal entities.

Authorised Capital

There are no requirements as to the mandatory payment of the company capital. The authorised capital of a company is specified according to a resolution. There is no minimum or maximum authorised capital stipulation. The standard joint-stock capital is USD 50,000 divided into 50,000 shares with par value of USD 1.00 each.

Taxation and Reporting

Offshore companies are exempted from paying taxes and pay only the yearly duty.

Companies are freed from the preparation and filing of any financial accounts and conducting audits.

There is no need for maintaining accounting records if a company carries out its economic activity outside the Seychelles. There is no need for the preparation and filing of annual accounts if a company carries out its economic activity outside the Seychelles.

Questions that need to be answered to prepare incorporation documents

• Passport details of the beneficiary (passport scan; in case a national passport is scanned – its translation into English).
• Utility Bill (confirmation of the registration address translated into English).
• Passport and Utility Bill in the agent’s name if it is not the beneficiary.