SEYCHELLES

By Baron Laudermilk. Seychelles' Long Road to Becoming Africa's Offshore Financial Hub. While Seychelles is the smallest in population of any African nation with a population of around 86,000, it is becoming one of Africa's main financial offshore hubs. The island country maintains both booming tourism and real estate markets, and the government is now fully committed to transforming its economy from an agricultural to a financial oriented hub of Africa. The government has made clear measures in this development for many years. Seychelles' offshore business started in 1994 when the government launcheda series of initiatives created to establish the...

EXPERT INSIGHTS 2020

By Gerard Govinden   Seychelles has lost one of its brightest minds in the offshore sector, Dr Steve Fanny, who passed away on March, 13th. He was 50 years old.   According to a police communique, Dr. Fanny’s body was found where he was staying in Pointe Au Sel after they had been alerted at around 3.30 pm. The police added that he died from a presumed hanging and they have already opened an investigation and an autopsy will be performed to establish the cause of his death.   Dr. Fanny was the chief executive of the Financial Services Authority (FSA),...

CORPORATE & FIDUCIARY NEWS 2021

By La Poudriere LawThe Republic of Seychelles consists of 115 islands spanning an archipelago in the Indian Ocean, covering a land area of about 455 km².These islands have an Exclusive Economic Zone of 1.4 km. It extends from between 4 and 10 degrees south of the equator .It is 4 hours forward of GMT. The Seychelles legal system is based mainly on the English Common Law, while the Civil Law stands on the French. Seychelles is economicallyandpolitically stable and is a member of diverse world organisations which include the Indian Ocean Commission (IOC), the African Union, the Commonwealth, the International...

ARTICLE SPONSORED CONTENT 2020

Industry research suggests that China will soon rank first in the world as a source of new incorporations. Traditionally, which regions of the world has your jurisdiction been most popular for? What types of business activity is most suitable for incorporating in your jurisdiction.Around 210,000 international business companies (IBCs) have been registered in Seychelles since 1995, including over 8,000companies registered in 2018, making IBCs one of the world’s most popular global business companies.The two largest markets for IBCs are Europe and Asia, especially Hong Kong, China and Singapore. While business in Europe is declining, Asian business continues to grow. IBCs...

CORPORATE & FIDUCIARY JURISDICTION 2019

Seychelles trusts are provided for by the International Trusts Act, 1994. A trust is created when the owner of the assets (the settlor) transfers ownership of those assets to a trustee to hold and administer under the terms of a trust deed for the benefit of one or more beneficiaries or for a charitable or other purpose. As the assets of a trust are not the property of the settlor, trusts are useful vehicles for wealth management purposes including to hold and protect family wealth and for ‘outside estate’ succession planning. Although a Seychelles trust is registered with the Seychelles Financial Services Authority...

CORPORATE & FIDUCIARY SPONSORED CONTENT 2019

What are the key advantages of your jurisdiction in terms of privacy & asset protection for a Chinese HNWI or Family (etc.) looking to succeed their assets to the next generation? Whether it is a Seychelles trust or Seychelles foundation, the relevant laws provide for a great deal of privacy and asset protection. In the case of a trust, there is no public record of the settlor, trustees or beneficiaries. The trust deed and any other documents relating to the trust are also not publicly filed. Upon registering a trust, the trustee must simply file a declaration confirming that all...

CORPORATE & FIDUCIARY JURISDICTION 2015

1. Industry research suggests that China will soon rank first in the world as a source of clients. Have you experienced an increase in demand for your company incorporation services from this region? Yes 2. What is the single most important advantage your jurisdiction provides for Chinese clients? There is no requirement for filing any details about the company with the Registrar, and therefore information is not publicly available. 3. What is the main reason a Chinese client would consider using a shelf company in your jurisdiction? The “long” time frame for delivery of company documents to China (a courier from Seychelles may...

CORPORATE & FIDUCIARY JURISDICTION 2015

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...

CORPORATE & FIDUCIARY JURISDICTION 2014

By Baron Laudermilk. Seychelles' Long Road to Becoming Africa's Offshore Financial Hub. While Seychelles is the smallest in population of any African nation with a population of around 86,000, it is becoming one of Africa's main financial offshore hubs. The island country maintains both booming tourism and real estate markets, and the government is now fully committed to transforming its economy from an agricultural to a financial oriented hub of Africa. The government has made clear measures in this development for many years. Seychelles' offshore business started in 1994 when the government launcheda series of initiatives created to establish the...

CORPORATE & FIDUCIARY OVERVIEW - EXECUTIVE SUMMARY 2014