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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Seychelles
Seychelles thrives on its tourism and financial services sector. Since the country introduced its International Business Companies Act in 1994, Seychelles has just grown and boomed from there to the competitive location for offshore company incorporation hub that it is today.
What are the benefits of registering a company in Seychelles?
For international investors to want to set up and register a business in a new country that is unfamiliar to them, it must be worth their time, effort and most importantly, a profitable venture.
Some of the benefits that international investors stand to gain by registering a company in Seychelles are the excellent tax benefits, high confidentiality offered for businesses as well as asset protection. Seychelles is also a country with a good infrastructure system in place and exceptional telecommunications services offered, which is great news for investors because these helps to boost the success rate of the business.
Seychelles also has multiple international banks and international business companies registered in Seychelles have no tax liabilities to deal with. In addition to that, registering a company in Seychelles requires no minimum share capital requirement.
Another key benefit to registering a company in Seychelles for international investors is there are no foreign exchange controls, which allows funds to be easily transferred in and out of the country. There are also no audit or tax returns required to be submitted by companies registered in Seychelles.
What is the procedure for registering a company in Seychelles?
Registering a company in Seychelles can be broken down into the following steps:
- Verifying the uniqueness of the proposed company name before proceeding with the incorporation. Each company name must be unique and not already in use by another company or business entity.
- Notarize the Memorandum of Association documents. Although this is not legally required by Seychelles law, companies still choose to do so before submitting their documents to the Registrar of Companies for the incorporation process.
- Documentation is deposited at the Companies Division of the Registrar General for stamp duty and registration fee assessment. Companies are required to submit the Memorandum and Articles of Association to the Companies Registry for stamp duty assessment purposes, and this process usually takes an average of four to six days.
- Payment of stamp duties and registration fees.
- Acquire the certificate of incorporation upon registration of the memorandum of the company at the Companies Division of Registrar General.
- File the particulars and information of the directors, company secretary and the registered office. Companies are required to file the information within 14 days of the appointment of the company directors.
- Acquire the business license needed from the Seychelles Licensing Authority.
- Register for taxes at the Revenue Commission. All new businesses are required to do so within 14 days of the business commencing operations.
- Register as an employer with the Pension Fund. All new businesses are required to do so within seven days of hiring a new employee and contribute 2% of the salary towards the social security payments per employee.
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