Seychelles Offshore Companies

SEYCHELLES OFFSHORE COMPANIES

The Seychelles are an independent English speaking island nation located in the Indian Ocean. They are a part of the British Commonwealth of Nations. The Seychelles offshore legislation was enacted in 1994 and since then the Seychelles have become an important offshore financial center.

IMPORTANT LEGISLATIVE CHANGES: 1 JAN 2012, UPDATED TO 2014

1. Accounting records must be kept by all Seychelles companies, for a period of 7 years. The location at which the accounts are being kept must be reported to the Seychelles Registered Office.


2. The Registers of Directors and Shareholders must be kept at the Seychelles Registered Office. Any changes must be reported to the Registered Office within 14 days of the change being made. Severe penalties apply for non-compliance.


3. An Annual Report must be filed identifying the current Directors and Shareholders of the company and updating the location at which the accounts are being kept.


4. Bearer shares are no longer permitted. All bearer shares must be changed to Registered Shares immediately.


5. Penalties for non-compliance are typically US$50 per day, with no maximum.

Notices have been sent to all current Seychelles clients of Maritime International Ltd. with recommended options. Contact us for further information, as may be required.

Offshore companies incorporated in the Seychelles are exempt from any form of taxation. There are no exchange controls.

There is no requirement for books or audited reports to be presented to any authority, but accounts must be kept.

The Seychelles are an independent sovereign nation and will therefore not be affected by the UK/EU legislation impacting the British Dependent Territories and the Channel Islands.

IMPORTANT NOTE: The Seychelles no longer (2009) charges an addititional fee for higher capitalization so the Authorized Capital can be any amount and can be stated in US$ or Euros.

SEYCHELLES OFFSHORE COMPANY FEES

• Click Here for Typical Seychelles Offshore Incorporation Fees
• Compare Seychelles Offshore Company Fees to Other Jurisdictions
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OFFSHORE LEGISLATION

Offshore companies in the Seychelles are governed by the International Business Companies Act of 1994. This is very similar to most of the offshore legislation familiar to practitioners. It does have, however, more flexibility than some jurisdictions which have recently become difficult, such as the British Dependant Territories which are being brought under EU legislation.

The offshore company may use any name which is not already taken in the Seychelles or is a prohibited name such as: Bank, Building Society, Chamber of Commerce, Insurance, or any word which might indicate a connection within the Royal Family or Government.

The name of the company may be in any language and can use a suffix indicating Limited Liability, such as: Limited or Ltd., Corporation or Corp., Incorporation or Inc., SA, GmbH, etc.

The offshore company must have at least one Director. The Director can be a natural person or a Corporation. Directors may be of any nationality and may reside anywhere.

Nominee Directors may be used if desired and are provided by Maritime International Ltd at no extra cost.

There is no requirement for an annual General Meeting. If desired, the Directors may hold meetings in any country.

GENERAL INFORMATION ON THE SEYCHELLES

The Seychelles group of islands in the Indian Ocean comprises over one hundred named islands, most being situated between four and five degrees south of the Equator. The largest island is Mahe, and despite its proximity to the Equator, its climate is surprisingly agreeable, not being subject to extremes of temperature or humidity. The population is around 78,000; a multi-ethnic community with genuine warmth and relaxed charm.

The Seychelles economy is primarily tourism based, but the rapidly expanding financial sector, linked to the establishment of the Seychelles International Business Authority and a suite of progressive laws facilitating the establishment of offshore structures and encouraging inward investment. The Free Trade Zone is now becoming a major element in the economic development of the area.

The port of Victoria's Mahe Quay has two deep water berths extending some 370 meters, and there is adequate space for container handling. The port is well equipped with modern cargo handling equipment and has in excess of 6,000 square meters of covering storage space. In addition to this, up to six large ocean-going vessels can be accommodated in the outer harbour at any one time. An ever increasing number of international banks and insurance companies have established either branches or subsidiaries who, together with local management, accounting and legal firms, provide clients with support equal to that of any major offshore financial centre.

COMMUNICATIONS

The Seychelles international airport with its 2987 meter runway, and modern passenger and cargo facilities, is one of the finest in the Indian Ocean Region. In addition to the nation flag carrier, Air Seychelles, the airport is served by five other airlines, British Airways, Emirates Airlines, Air France, Lufthansa (Condor), Kenya Airways and Aeroflot. Regular schedule services are to London, Paris, Frankfurt, Zurich, Rome, Madrid, Dubai, Bahrain, Nairobi, Singapore, Johannesburg, Reunion and Mauritius. National and International telecommunications are provided by Cable & Wireless (Seychelles) Limited, part of Cable & Wireless PLC., London. The company has installed a special standard "A" earth station in Victoria and standard "D" earth stations on the other islands to give Seychelles a state of the art telecommunications network.

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