Register a company in the Seychelles cheap in 2019
Seychelles is an island independent state. In total, the republic includes more than 100 islands, of which just over 30 are inhabited. There is a mixed system of law, the republic is presidential.
The Republic is a state characterized by a highly developed infrastructure, as well as a reliable banking system, and transparent legislation. In this regard, the registration of organizations in the Seychelles is relevant for entrepreneurs.
Pros of registering in a jurisdiction
The registration of a company on the islands ensures competitiveness and the organization’s entry into the world market. Opening of offshore companies provides anonymity for the owners of the organization, there is no need to periodically file reports, which is a significant advantage.
The main advantages of company registration:
• Protection of personal information;
• Ability to conduct licensed business in different areas of activity;
• Investment opportunity;
• State assistance in opening the company;
• Getting access to global markets;
• Getting a stable income from doing business.
Businessmen registering a company on the islands can engage in virtually any type of activity that is allowed by law. When registering there are no strict requirements for the size of the share capital, there is no exchange control.
If you have the appropriate license, you can engage in insurance services, banking or brokerage. More detailed conditions for registering and obtaining permission for certain types of activities can be obtained from our IT - OFFSHORE specialists.
Features of company registration in the Seychelles
The most relevant is the registration of shipowning companies, as well as organizations for the export of goods. When creating an organization, a high degree of anonymity is provided; some companies, such as IBC, do not need to pay income tax, in most cases they do not need to be audited and financial statements must be submitted.
The main disadvantages of registering:
• Jurisdiction is included in the list of offshore zones in different states;
• IBC cannot use double taxation avoidance contracts.
Despite the fact that the organization is exempt from paying income tax, it is required to pay an annual fee to the budget in the amount of 100 USD. In total, there must be at least one participant or shareholder; meetings can be held almost anywhere. At least one director is required. There is no requirement for a local director.
Financial statements should be carried out, however, an audit is an optional requirement, and the delivery of financial results is not always necessary. Availability of reporting is not publicly provided, it is required to submit a non-financial report every year.