Seychelles

General data
Seychelles consist of more than hundred islands located in the Indian Ocean. The largest of the islands is Mahe. Official languages – English, Creole and French. Legislative  drafting of Seychelles is based on the law of England and civil law of France. Monetary unit – rupee Seychelles.

Taxation
International Company of Seychelles is exempted from local taxes.

Contracts made to avoid double taxation
Not available.

Registration procedure
Memorandum of Incorporation must be registered in the register. Also it is necessary to present Articles of Association of a company (within 30 days starting from the date of registration).

Legislation related to entrepreneurship
The International Business Companies Act, 1994.

Types of companies
International Company of Seychelles

Fixed capital of a company
International companies are usually registered with the issued share capital, which nominal value is 5000 USD. This is the maximum amount of fixed capital for minimum licensing fee. Share capital may be in any currency. Minimum amount of shares issued by a company includes one share without nominal value or one share with nominal value.

Forbidden field of activities
Company must not trade on the territory of Seychelles and acquire the real estate there. Any activity associated with banking and insurance activities is forbidden.

State annual fee
For the fixed capital up to 5000 USD it is paid 100 USD of licensing fee annually. For the company with fixed capital from 5001 to 50 000 USD it is paid 300 USD of licensing fee annually; for the company with fixed capital of more than 50 000 USD it is paid 1000 USD of licensing fee annually.

Founders of a company
Minimum number of shareholders is 1 (one). Permitted are also nominal shareholders

Requirements to a business name
The following words are used: Limited, Corporation, Incorporated, Société Anonyme, Sociedad Anonima, Gesellschaft mit beshränkter Haftung; or abbreviations Ltd., Corp., Inc., GmbH, SARL, BV..

Directors of a company
Minimum required number of directors is 1 (one), who may be both a natural or legal person. Director may have any citizenship and must not be the resident of Seychelles.

Secretary of a company
Not obligatory.

Meeting of shareholders/ directors
Meeting of shareholders/ directors may take place in any state.

Registered office
Company is obliged to have the registered office, which must be located at the address of a licensed firm managing the company. 

Period of registration of a company
2 (two) weeks.

Presentation and audit of financial and annual statements
No requirements for presentation of financial statements. Companies are obliged to make accounting notes which would reflect financial status of a company.

Documents kept in the registered office
List of shareholders, directors and secretaries.

Information about a company available for the third persons
Registration documents, name of registered agent and registered office.