FEATURES OF SEYCHELLES COMPANY

GENERAL INFORMATION

Location
The Seychelles is an independent nation in the Indian Ocean near the coast of eastern Africa composed of several islands.

Government
The country is a self-governing democracy and a member of the Commonwealth and the United Nations.

Benefits
The Seychelles offers a wide variety of services to the international community, including offshore banking, insurance and investments. Of particular interest is the International Business Company, which is an inexpensive, flexible and simple type of company that can be used for many purposes.

SEYCHELLES INTERNATIONAL COMPANY

The International Business Company's Acts 1994 was enacted to provide a comprehensive regime for the incorporation, regulation, operation and taxation of International Business Companies. This piece of legislation is extremely flexible and provides for a minimum of disclosure. Meetings need not take place in the Seychelles, and there is no necessity to report changes in shareholders, directors and mortgages to the Registrar.

FEATURES OF SEYCHELLES COMPANIES

Taxation
International Business Companies are not subject to taxation within the Seychelles. Shareholders

An International Business Company need only one shareholder and shares can be issued in bearer or registered form. Details of the shareholders do not appear on the public file, although a Register of Members must be maintained.

Directors
A minimum of one director is required and corporate directors are permitted. Details of the directors do not appear on the public file, although a Register of Directors must be maintained.

Annual Reporting
International Business Companies are not required to file either an annual return or accounts.

Processing Time
Incorporation can normally be achieved within 14 days. We do not keep ready-made companies in stock.

Restrictions on Name and Activity
The following words cannot be used: Assurance, Bank, Building Society, Chamber of Commerce, Chartered, Co-operative, Foundation, Government, Imperial, Insurance, Municipal and Trust, or any other words which suggest the patronage of any Government. All company names must end with Limited, Corporation, Incorporated, Societe Anonyme or a similar recognised alternative.

Local Requirements
As a matter of local company law the company MUST maintain a registered office address within the Seychelles and must also appoint a Seychelles resident as a registered agent. We would generally provide these services as part of the domiciliary service fee.

Secrecy
There are no specific statutory provisions governing secrecy in relation to companies but English Law, which applies within the jurisdiction, does impose a common law duty on professionals to keep the affairs of their clients confidential.

REGISTRATION AND MAINTENANCE FEES

Registration Fee
With a standard share capital of less than or of USD5,000, the registration fee together with the first year maintenance fee is USD800. In particular, the fee covers:
1. first year licence fee
2. first year registered agent and registered office
3. our incorporation service charge

Note: The fees stated above does not include delivery fee, if any.

Annual Maintenance Fee
With a standard share capital of less than or of USD5,000, the annual maintenance fee for second year and thereafter is USD600, which includes annual licence fee, registered agent and registered office fees.

Documents and Information Required
1. A photocopy of identity card or passport of each director and shareholder
2. Residential addresses with proof of all directors and shareholders, such as utility bill, telephone bill.
3. Proposed name of the company
4. Amount of share capital (unless otherwise advised, all company will be incorporated with a standard share capital of USD5,000) and percentage of shareholding by each shareholder, if more than one shareholder

Time Frame
The whole processes for the tailor-made and readymade companies could be completed in around 14 days and 2 days respectively.

Documents Given to Clients after Registration
1. Original copy of Certificate of Incorporation
2. Three (3) copies of Memorandum and Articles of Association
3. Ten (10) copies of share certificate
4. Register of Members and Register of Directors
5. Common Seal and company chop
6. Minutes for the appointment of first director(s)

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