Seychelles International Business Company is the most popular registration in the Seychelles; it form of a private company limited by shares, but can also be a Limited Life Company. The governing legislation is the International Business Companies Act 1994.
• Only one director and one shareholder required;
• Shareholders, directors need not be resident in the Seychelles;
• There is no minimum capital requirement;
• Shares may be either registered or bearer and may be issued in any currency;
• Prior to 2012, accounts need not be kept;
• No annual returns are needed;
• Shareholders and directors meetings need not be held in the Seychelles;
• A copy of the share register, a register of directors and officers must be kept in the Seychelles (this rule is effective from 27 December, 2011 and all IBCs must comply by 1 January 2013.
• The Memorandum and Articles of Association are the only documents to be held on the public record.
• No business activities within Seychelles;
• Banking or trust, insurance or re-insurance business need an appropriate license;
• Engaging in the business of company management for Seychelles-incorporated companies is not permitted.
Seychelles is a popular tax haven with plenty of opportunities for business professionals. The business destination delights potential investors with many scintillating facilities. From low annual rates to rock bottom taxes, Seychelles comprises of many financial benefits for offshore company owners. With this being said, here is a comprehensive insight through few Seychelles International Business Company.
By default, the Seychelles IBC Act was established in 1972. It was an extension of the old British Company Act. Nevertheless, the offshore jurisdiction comprises of flexible and easier rules for businessmen. A majority of the organizations formed under Seychelles International Business Company have exquisite tax exemptions and the freedom for hassle-free offshore banking.
Seychelles International Business Company are allowed to perform business outside the destination and are not allowed to lease or own any immovable properties in Seychelles. However, you can lease a property and utilize it as a means of communication between members or employees of your organization. Meanwhile, you cannot engage in insurance or banking businesses. These businesses require a different kind of licensure with the right kind of legislations.
When you start a Seychelles International Business Company, the following requirements must be satisfied:
1) The company should have a name. Luckily, the name can be in any language.
2) The International Business Company should comprise of a shareholder and a director. Once again, the director and shareholder are not limited by nationality or residency requirements.
3) At all times, the International Business Company should maintain accurate accounting records. They should be able to present their financial status as precisely as possible.
4) Seychelles International Business Company has the freedom to issue their registered shares any currency.
5) Seychelles IBC requires very few documents and two important records would be the Articles of Association and the Memorandum of Association.
6) Potential directors, shareholders and officers are not expected to make any return. Likewise, directors and shareholders are not expected to hold meetings in Seychelles.
While applying for Seychelles IBC registration, you should include the Articles of Association and Memorandum of Association. These are two important documents that should satisfy the registrar. If your application is spotless, the registration and reservations will be done within few short hours. This is why potential investors are advised to hire a trained agent during Seychelles International Business Company Registration.