The legislation that governs the incorporation of Seychelles offshore companies has been created to ensure that assets can be held securely and that business activities can be conducted with a high degree of flexibility and simplicity.
Offshore companies in the Seychelles are known as International Business Companies and are registered according to the act of 1994 bearing the same name. The local judicial system loosely simulates parts of the legal basis found in both the England and France.
This Anglo-French influence is evident in several aspects regarding the requirements for incorporating a Seychelles offshore company. An example of this is that the memorandum and articles of association must be in either of these languages.
A central registry exists for International Business Corporations based in the Seychelles where the company’s constitution and subscriber details are maintained. Similar to the UK systems for incorporations, a single person or company can hold the positions or both director and shareholder.
Tax exempt status of offshore companies is retained in the Seychelles by ensuring that all commercial activities which the business undertakes is conducted with persons and organisation who are not resident of that country. Any investment in assets that are situated in or contacts with legal professionals within the Seychelles is prohibited.
Although the Seychelles has significant trading and commercial centres, the restricted stipulated above do not usually present offshore companies registered there with an issue, given that unrestricted trade is permitted with all other major business centres in the world. |
