Benefits of an Offshore Company in Seychelles

1 February 2023

A highly desirable location for both business and pleasure, the Republic of the Seychelles lies in the Indian Ocean and is one of Africa’s most predominant financial hubs. The archipelago is made up of 115 islands and has long been a popular location to establish a business.

There are many reasons for its popularity outside of the tropical climate, idyllic scenery and relaxed approach to life. The Seychelles, since becoming an independent republic in 1976, has attracted foreign investment from around the world with its business-friendly environment and stable economic climate.

But what are the main benefits to Seychelles company formation with a bank account?

Modern Banking Systems

The Seychelles has some of the most modern banking facilities in the world. Once you set up an IBC in the Seychelles, your business can take full advantage of their banking system. You will find a wide range of accounts available, including multicurrency, all with no-to very low financial requirements to set up.

The jurisdiction has no restrictions on nationality, other than in accordance with international sanctions lists. Economic Stability

Growth and stability continue to flourish in the archipelago due to political and economic harmony. The country operates with free democracy, which ensures it remains politically stable. Government focus on reducing national debt builds a solid ground for the economy resulting in security for your business and your assets.

Quick & Easy Incorporation

The Seychelles boasts one of the easiest company formation processes in the world. In just 24-hours, with very little financial capital required, your Seychelles company can be registered, recognised and ready to reap the benefits. IBCs are the most common entities for non-residents and with the primary language for business being English, communication is kept simple.

Ease of doing business does not stop at incorporation. The territory has very low yearly requirements for offshore businesses, with no requirement to file tax or sit yearly meetings in the territory. Maintaining the business is therefore as simple as setting it up.

Territorial Tax System

By adopting a territorial tax system, businesses operating in the Seychelles enjoy little to no tax on business done outside of the territory. This also applies to capital gains, stamp duties and interest on your business’s transactions, with zero taxation applicable, providing the transaction happen outside of the territory.

Simple Business Structures

Accommodating various business entities, there is flexibility to be found in the Seychelles’ approach to setting up your company. For shareholders and directors, only one of each is required and they can be the same person. Again, as with the banking, there is no restriction on nationality, and you do not need to appoint a local director.

Boating Benefits

Yachts and superyachts are exceedingly valuable assets and if you are planning to make such an investment, it is important to maintain the ownership within a secure, highly regarded and well-known jurisdiction. As part of the Commenwealth and the United Nation, Seychelles offers stability and security, it is also one of the most popular jurisdictions for yacht registration and the most cost efficient internationally

If you have a Seychelles IBC, you can register your yacht in the territory, and fly the Seychelles flag.

How do I Set Up a Company in the Seychelles?

At SFM, we offer the same simple approach to Seychelles company formation, as with all our jurisdictions. We arrange company formation and registration of your Seychelles offshore entity with 5-steps and aim to have the business up and running in just 1-2 days.

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