Seychelles

Seychelles

The Seychelles is a group of 115 islands covering a total land area of 455 square kilometers and located in the South-Western Indian Ocean. The largest island of all is Mahe. The Legal System is based on the English common Law and French Civil Law.

The financial sector has rapidly expanded due to the establishment of the Seychelles International Business Authority and to the creation of progressive laws, which help offshore structures and investments. The Seychelles has successfully developed in recent years as one of the most popular offshore jurisdictions.

From 1994 onwards, the local legislation permits the formation of International Business Companies, International Trusts and the licencing of International (free) Trade Zone Companies, as well as licencing of offshore banks and mutual funds. The Seychelles is recognised by industry experts as having one of the fastest IBC registrars in the world.

There are no exchange controls and no currency restrictions. The national currency is Seychelles Rupee (SCR) and the official languages are both French and English.

Key Corporate Features

General
Type of entity:	IBC
Type of law:	Hybrid
Shelf Companies Available:	Yes
Time to establish a new company:	2 days
Minimum government fees (excluding taxation):	115
Taxation on foreign income:	Nil
Double taxation treaty access:	No
Share capital or equivalent
Standard currency:	US$
Permitted currencies:	Any
Minimum paid up:	US$1
Usually authorized capital:	US$100,000
Directors or Managers
Minimum number:	One
Local required:	No
Publicly accessible records:	No
Location of meetings:	Anywhere
Members
Minimum number:	One
Publicly accessible records:	No
Location of meetings:	Anywhere
Company Secretary
Required:	Optional
Accounts
Requirement to prepare:	Yes
Audit requirements:	No
Requirement to file accounts:	No
Publicly accessible accounts:	No
Other
Requirement to file annual return:	No
Change in domicile permitted:	Yes