The Seychelles are a group of islands in the Indian Ocean. The largest of these islands is Mahe. It has a population of around 80,000 inhabitants. This is an independent republic, but is a member of the British Commonwealth. The Seychelles economy is predominantly based on tourism.
Today, the financial sector provides the backbone for the national economy and is affiliated with the establishment known as the Seychelles International Business Authority which is responsible for implementing a series of laws which have facilitated the creation of offshore structures, and have helped in focusing on international investment.
International business offshore companies in The Seychelles provide a valid alternative to other better known and more famous offshore companies such as those which can be found in the British Virgin Islands (BVI).
In December 1994, The Seychelles passed legislation which enabled International Business Companies (IBC) to become registered as international trusts and companies which could benefit from the status held by international free zones. A more recent piece of legislation has granted the issue of:
- Offshore banking licences,
- Offshore insurance companies,
- Fund management groups,
- and other securities.
The legislative provisions of this offshore jurisdiction have been borrowed from the most complete, modern and attractive propositions when it comes to the creation and management of offshore companies, mutual funds, offshore banking, offshore insurance companies, along with the Freeport for all offshore jurisdictions which are recognised within the offshore business world.
Benefits within the jurisdiction of The Seychelles:
The benefits for an offshore company in The Seychelles include:
- A large panel of offshore services.
- Sound infrastructure and easy access to facilities
- A French speaking offshore jurisdiction.
- There are no specific restrictions for the transfer of funds, or for running specific types of business.
- IBCs are authorised to conduct their business on an international scale without any restrictions
- Exemption from all corporation taxes (also applies to their employees).
- No public register
- No obligation to disclose any of the company’s activities
- No legal bookkeeping requirements
- Incorporation: $1,700.00
- Costs for maintenance and domiciliation: $1,300.00