Advantages Of Seychelles Company Offshore Incorporation

Advantages Of Seychelles Company Offshore Incorporation

Besides plantation, Seychelles boasts of thriving tourism industry, accounting for 73% of its GDP since its international airport began its operations in 1971. Seeing the positive impact, the government has become passionate in competing in the global market. Its government implemented policies conducive to business, attracting in particular, foreign investments.

Among the policy implemented governs the offshore company incorporation. In Seychelles, the only African state with the smallest population, members of the Seychelles International Business Company are privileged with local tax exemptions including withholding, capital gains, estate or property, and stamp duty taxes for 20 years following their incorporation. The only circumstance that authorizes the government to levy taxes is when the profits are earned locally.

The Seychelles Company offshore Incorporation is in line with the island-state's initiative in developing its offshore business and investment landscape. A primary evidence to such undertaking is the Free Trade Zone industry created on the island of Mahe, where, all business establishments receive exemptions from Social Security Contributions and custom duties, as well as concessions relating to employment of foreign talents and accessibility of labor passes and permits.

A former British colony, the residents of Seychelles island are multi-lingual. Besides English as the main language used by government officials, the population of Seychelles is known for its eloquence in Seselwa-French and African Creole languages. Included in the minority group are Indian, Chinese, African, and Arab which are also among the island's principal investors.

Its banking system is decently technologically-updated with 5 licensed foreign banks and 2 domestic banks. Because it is keen in making Seychelles as among the favorable investment centers in Africa, its government invested on its telecommunications and media facilities ensuring that Internet is widely available.

The procedure for a Seychelles company registration is simple. It requires, 1 shareholder, 1 resident director who must be a local resident, and a valid local address.

In Seychelles, the company setup does not have a minimum capital requirement. Nor are its shareholders, officers and directors obliged to hold residence locally. Hence too, they can be of any nationality.

Should the entrepreneurs hindered from time constraints in setting up an Offshore Company in Seychelles, they can avail the services of an intermediary agency proficient in carrying out the tasks in their behalf.

A Seychelles Company setup comes with comprehensive confidentiality features. The independent agency responsible for its incorporation keeps all matters in confidence.

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