Seychelles

General Information on Seychelles
Seychelles company

General Information on Seychelles:

About Seychelles:

115 islands scattered over a million square kilometres in the Indian Ocean and a population of 80,000 inhabitants make up the ultimate paradise of Seychelles. According to history, a Portuguese navigator first sighted the islands, but the French were the first ones to make an establishment in the region in the mid-eighteenth century. The islands were formally ceded to the British in 1814 and after 162 years of being a British Colony, Seychelles achieved independence in 1976 and became a Republic within the Commonwealth. The Republic of Seychelles is a member of the United Nations, the African Union, the Commonwealth and La Francophonie.

Legal system in Seychelles:

The legal system in Seychelles is based on both the English Common Law as well as the French Civil Law. The Seychelles have a multi-party political system with an executive President as Head of State and government. Legislative power is vested in a National Assembly of 34 members.

Infrastructure in Seychelles:

Mahe, the largest of the islands of Seychelles houses the international airport, the port and capital, Victoria. Victoria, the capital is the centre for business and is well equipped with Port Victoria, a major marine service center for both shipping and fishing in the Indian Ocean regions, as well as the Seychelles International Airport which is being served by many international airlines.

Seychelles Economy:

Growth in Seychelles’ economy has been led mainly by the tourist sector, followed by the fisheries sector, and to a lesser extent by farming and small-scale manufacturing. In recent years, the government has encouraged foreign investment through the development of the International Business industry. This strategy encompasses the registration of Seychelles International Business Companies, the offshore trade zones, the registration of ships and aircrafts, as well as banking and insurance.

Currency in Seychelles:

The Seychelles Rupee

Language in Seychelles:

English, French and Creole are the official languages of Seychelles, but English is mostly used in business.

Time Zone:

(GMT +04:00)

Seychelles company:

Types of a Seychelles company:

International Business Company

Company Law in Seychelles:

International Business Companies Act, 1994

Capital requirement of a Seychelles company:

Minimum paid up capital – US$1,00.
No minimum authorised capital, but usual authorised US$5.000.

Restrictions on activity of a Seychelles company:

IBCs are not allowed to undertake business in banking, insurance and fund and asset management. IBCs must trade outside the Seychelles, can not own property in the area and can not sell their shares to the public.

Taxation of a Seychelles company:

NIL

Double Tax Treaties between Seychelles & other countries:

Annual Returns of a Seychelles company:

Not required.

Annual Licence Fee in a Seychelles company:

$100 for an IBC with an authorised share capital of US$5.000.
$300 for an IBC with an authorised share capital between US$5.001-US$50.000.
$1.000 for an IBC with an authorised share capital of over US$50.000.