Interview - Seychelles Company Formation

2014

What are the advantages of the jurisdiction for Chinese investors?

The general advantages of the jurisdiction include: Traditionally signed certificate of incorporation and formation documents, registered very quickly, usually within 1 day. Seychelles IBCs, Foundations and trusts are not taxed in Seychelles and there are no requirements to prepare, audit or file accounting statements. Privacy guarantees are clearly provided for in the various legislations. Low cost. A Seychelles IBC can be formed, all fees included, for the less than the government fee of a BVI company.

What types of companies can be opened?

IBC, Domestic companies, CSL, PCC

What are the requirements for company formation?

Capital requirements, compositional and structural requirements, annual meeting, auditing and reporting requirements

What length of time is necessary to open a company?

IBC 1 day. CSL 2-3 weeks. Domestic company 2-3 weeks. PCC 2-3 weeks.

What are the fees associated with company incorporation?

IBC: government fee USD 100. Domestic company: government fee approximately USD 10 for lower tier share capital. PCC: government fee is USD 1200.

What is the general taxation rate for incorporated companies?

IBC: zero. CSL: 1.5% on worldwide income. Domestic company: 0 to 33%, 15-33% on Seychelles sourced income only, 0% on internationally sourced income. PCC: zero (fund and offshore insurance businesses) unless it is also a CSL in which case it would be taxed at 1.5% on its worldwide income.

Can the regulatory authorities request information about the background and identity of company officers, or company accounting information?

Only in an anti-money laundering investigation, under a TIEA or DTA (not fishing expeditions or general requests). TIEAs only exist with Denmark, Finland, Greenland, Iceland, Netherlands, Norway and Sweden.