Paradise on Earth. This beautiful country is blessed with deep blue waters and white sandy beaches with exotic sea life, becoming a famous honeymoon destination. The 115-island country is within the Indian Ocean off East Africa and has the least population among independent African countries. Here are some facts about Seychelles that are quite interesting.
Main benefits of a Seychelles IBC:
- Zero corporate tax
The main advantage of a Seychelles IBC is that, by definition of law, it is not subject to any tax or duty on income or profits. Shareholders of Seychelles IBCs are also not subject to any tax on income derived from the IBC.
Similarly, a Seychelles IBC is also exempt from any stamp duties on all transactions relating to its business, in particular on any transfers of property, and on any transactions relating to shares, debt obligations or other securities of the IBC.
Essentially, a Seychelles IBC is a completely tax-free offshore corporation. However, in order to qualify, your company must meet certain criteria:
- It may not do business in the Seychelles.
- It may not own real estate in the Seychelles.
- It may not carry out banking, insurance or registered agent business without a special licence.
- Guaranteed confidentiality and protection
Confidentiality is one of the key features of a Seychelles International Business Company as details of the company owners, and shareholders are not part of public record. These details are known only by the registered agent. No information is provided to the government.
- No paid–up capital required
A Seychelles IBC is not required to have any minimum paid-up capital in order to start its operations. You can pay any amount of the authorized share capital you wish and there are no compulsory timeframes as to when this capital must be paid up.
- No accounting requirements
The only thing you have to do is declare where the accounting records of your company are kept.