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Set Up a Company in Seychelles for Great Business Benefits

Incorporate A Company in SeychellesThe benefits derived when you plan to incorporate a company in Seychelles are amazing. Before you begin with the process, you must first formulate a unique business name. Your company name must define the nature of your business and shouldn’t be in existence. Similarly, it’s a legal requirement that your company name ends with either LLC (Limited Liability Company); or Pty. Ltd (Propertary Company).

 

How to Register a Company

Incidentally, a Propertary Company can alternatively operate as a private company devoid of shares or as a corporation with shareholders. Each company run under particular by-laws and therefore, before submitting your documents to the Registrar of Companies you should ensure that the following documents are notarized: Articles of Association, Memorandum of Association, resolution of the appointment of a director and allocation of shares, share certificate for each of the shareholders among others. With that in mind, the Memorandum and Articles of Association should be revised to constitute the following terms: control the maximum number of shareholders to fifty (50); limits the right to allocate shares, excludes public invitation to becoming subscribers of shares or debentures of the company and excludes the public from depositing any funds with the corporation.

The government requires you to file all these entire information within two weeks of the appointment of the company directors.

You should be aware that these documents can be submitted at the Companies Division of the Registrar General for registration evaluation and stamp duty certification. The legal declaration should be formulated by an attorney asserting all requirements of the Act have been attained. The signing of the declaration must be done in the presence of a notary. This process may take approximately one week upon payment of the stamp duties and the registration fee. Your company certificate shall be delivered through courier after acquiring the Notary Public Certificate.

In any case, to incorporate a company in Seychelles, you must have a physical address of your premise by registering with the authorities. Additionally, its common knowledge that you apply for a business license with the Seychelles Licensing Authority.

 

Seychelles Corporate Tax Rates

When you incorporate a company in Seychelles, there’s no minimum capital required. But your company will not operate without complying with the tax regulations. Therefore, you must register with the Revenue Commission which takes a fortnight of commencing with business operations. You’ll be liable for income tax, however, if the entire shareholders are foreigners and all the incomes originate from outside the country, no income taxes shall be payable.

For the record, resident companies are liable to a 15 percent flat rate on its universal income.

Every company is required to register as an employer with the Pension Fund within seven days of hiring a new employee. Again, you’ll be required to contribute 2 percent of employee’s salary to Social Security payment.

Take it upon yourself to understand the laws and regulation to incorporate a company in Seychelles whether you’re applying for Seychelles IBC or Seychelles CSL.

Whether you are applying for a Seychelles IBC or a Seychelles CSL, it is important to understand the laws and regulations for establishing a company locally. For more information, please contact us, 3E Accounting will assist you wholeheartedly.