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Seychelles is an independent Republic within the Commonwealth with a population of 82,000 approximately. Seychelles comprises a group of approximately 115 islands in the Indian Ocean. The country has good political stability with a democratically elected Government. The Seychelles economy is primarily based on tourism, commercial fishing and offshore financial services industry. Now, Seychelles have became one of the famous financial offshore in the world.
Law and Taxation
Seychelles is governed by civil law except for the corporate legislation and criminal law which are based on the English common law. The principal corporate legislation governing IBCs is the International Business Companies Act (IBC Act) 1994. IBCs are exempted from taxation on business activities or transactions carried outside of the Seychelles. An IBC can be converted to other resident companies such as Companies Special License ("CSL").
The CSL is a Seychelles domestic company (incorporated under the Companies Act 1972), which is granted a special license under the Companies (Special Licenses) Act 2003. A CSL can take advantage of the Seychelles steadily expanding network of double taxation treaties which include China, Indonesia, Malaysia, Mauritius, Thailand, S. Africa, Botswana, Oman, Cyprus, UAE and Vietnam.
General Requirements for Incorporation
IBCs are required to have at least one director and one shareholder, which may be natural persons, or corporate entities. Shareholders, directors, and officers may be of any nationality and may be residents of any country. A company secretary is not mandatory, although it is customary to have one appointed, and may be of any nationality and need not be resident in the Seychelles. The language of legislation and corporate documentation is either English or French. If any other language is used, it must be accompanied by a translation in either English or French.
There is no requirement to hold Annual General Meetings and meetings do not have to be held in the Seychelles and can be held by telephone or other electronic means. IBCs do not have to file any annual returns, accounts, or financial statements and there is no requirement to register initial or ongoing changes in directors or officers.
CSL's must have at least two local directors to access the treaty network and 2 shareholders. At present corporate directors are not permitted. A CSL must also appoint a Seychelles resident as company secretary. Each year, the company must prepare and file audited accounts. The filed accounts and company return are not publicly accessible. Company profile is consider private and confidential.
CSL's is allow to open bank account in worldwide, as long as the bank accept for your case, So far, Tannet do provide few choice to our valued customer for offshore corporate bank account opening - Switzerland, Singapore and Hong Kong. We assist our client on make arrangement, company documents preparation, review on the extra document requested by the banker. However, different bank have different policy and requirement. Corporate bank account opening is subject to bank's approval.
Tannet's Services
Tannet Malaysia is an international company based in Hong Kong, Shenzhen. We provide one stop business solution to those who are interested to invest business overseas. We provide various of services such as international company registration, commercial secretary (receptionist for answering call), virtual office rental, international trademark registration and etc. Kindly contact us for more information on our other services if you are interested!
Contact us:
If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours Shenzhen hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP : www.tannet-group.net, en.tannet.com.my