The Legal Framework Under the Company’s Act Presiding Company Registration in Seychelles for Both Local and Foreign Investors
Are you a resident or a foreigner with plans to invest in Seychelles? If that’s so, company registration in Seychelles is now competitive under the prevailing business environment.
Company Registration in Seychelles Leads to Business Formation
Before even thinking about the type of structure to set up, you must first look for a business name and reserve it with the Seychelles International Business Authority (SIBA). Company registration in Seychelles gets even easier when you seek assistance from the right service provider. 3E Accounting is one such service provider that has a global outlook. Therefore, you’re going to enjoy business solution services from:
- Stamp/Seal makers services
- Enterprise/business setup
- Accounting & auditing services
- Taxation services
Take pleasure in contacting 3E Accounting or visit their website to get the best business solution advice.
In Seychelles, company registration depends on the type of legal entity you’re setting up. We can talk of International Business Company, Limited Liability, and Special License Companies. If you decide to go to the International Business Company (IBC) or offshore predominate with foreigners, then you can register with International Business Authority. And if you decide to go the Special License Company way, you’ll be required to register with the Financial Services Authority. For a Limited Liability Company, the Company Register is responsible for the registration process.
Company Formation for Investors
When it comes to company registration in Seychelles, it’s necessary to file your Memorandum of Association with the Registry. The filing can take one day or a month after submission. Consequently, you must ensure that you have some of the following documents:
- A company name reservation form
- Share certificate of each of the shareholders
- Articles of Association
International Business Company which is a private company limited by shares has no minimum paid-up capital needed. Then, you’ll be required to have a minimum of one shareholder and one director who can be from any nationality. Again, you shall present all the stipulated legal documents to International Business Authority for assessment and stamp duty accreditation. The law requires the signing of the legal declaration in the presence of the attorney after the certification of the declaration.
In addition, its public knowledge that company registration in Seychelles is not sufficient without attaining tax compliance. The benefit derived from setting an International Business Company is that you’re not entitled to pay tax or any other tax levies. But for other legal entities, you must register with the Revenue Commission a process that takes 14 days upon submission of documents. Besides tax compliance, it’s prudent that you register for an office and secure a business license. For a business license, you can apply at the Seychelles Licensing Authority.
How We Can Help
You’re responsible for your employee’s welfare as part of company registration in Seychelles. Therefore, you must register with the Pension Fund in a period of seven days once you’ve hired your employees. Again, the Employment Act requires you to register with the Social Security and remit 2 percent of employee’s salary on a monthly basis.