Jurisdictions
Regions
Industry Sectors
Fact File
- General
- Tax
- Tax Information Exchange Agreeements
- Share Capital
- Entity
- Directors
- Shareholders
- Accounts
- Other
Fact File Supplied By:
Legacy Trust Company Limited
Location
Seychelles.
Time Zone
GMT +4.
Population
95,000.
Capital
Victoria.
Airport(s)
Seychelles International Airport.
Language
English, French, Creole.
Currency
Seychelles Rupee (SCR).
Political System
Seychelles is an independent republic, a multi-party democracy, a member of the Commonwealth and a member of the Commonwealth, COMESA, SADC and African Union.
Dialing Code
+248.
Legal System
Based on English Common Law and French Civil Law.
Centre's expertise
International Business Company (IBC), Seychelles Special License Company (CSL), Trust and Fund set up.
Personal income tax
15% PIT applies over salary of SCR 8050 and 15% for non-Seychelles employees.
Corporate Tax
Domestic Corporation Tax: Levied on taxable profits at 25% on the first SCR 1,000,000 and 30% on the remainder except for some financial institutions, telecom companies, alcohol producers, etc. at 33%. IBC: exempt if income is not sourced within Seychelles. CSL: exempt if income is not sourced within Seychelles.
Exchange Restrictions
None.
Tax Treaties
Yes.
Exchange Agreements
Denmark, Faroe Islands, Finland, Greenland, Guernsey, Iceland, India, Netherlands, Norway, Sweden and Swiss Confederation.
Double Taxation Agreements
Bahrain, Barbados, Belgium, Bermuda, Botswana, China, Cyprus, Ethiopia, Guernsey, Indonesia, Isle of Man, Jersey, Kenya, Luxembourg, Malaysia, Mauritius, Monaco, Oman, Qatar, San Marino, Singapore, South Africa, Sri Lanka, Swaziland, Thailand, United Arab Emirates, Vietnam and Zambia.
Permitted Currencies
All major convertible currencies.
Minimum authorised capital
IBC: US$1. CSL: No minimum.
Minimum share issue
IBC: US$1. CSL: At least 10% of all the shares the company may issue.
Type
International Business Company (IBC).
Shelf Companies
IBC: Yes. CSL: No.
Timescale for new entities
IBC: Within 24 hours. CSL: Minimum 1 month.
Incorporation fees
USD $150 as of 1st April 2020.
Annual fees
USD$ 150 as of 1st April 2020.
Minimum number
IBC: One. CSL: Two.
Residency requirements
IBC: No. CSL: No.
Corporate Directors
IBC: Yes. CSL: No.
Meetings/ frequency
IBC: Worldwide and no minimum. CSL: Worldwide but local is encouraged (At least 1 GM per year eg. AGM).
Disclosure
To Corporate Service Provider and upon request from competent authorities.
Bearer shares
IBC: No. CSL: No.
Minimum number
IBC: One. CSL: Two.
Public share registry
IBC: No. CSL: No.
Meetings/ frequency
IBC: Worldwide (no AGM requirement). CSL: Worldwide (annual AGM).
Annual return
IBC: Annual Declaration and obligation to keep account records. CSL: Yes.
Audit requirements
IBC: No. CSL: Yes.
Registered office
IBC: Yes. CSL: Yes.
Domicile issues
IBC: Tax resident.
Company naming restrictions
In line with global norms, prohibited words include, for example, 'bank', 'building society', and the registry has discretion to reject names that are indecent, offensive or misleading, etc.
