The annual renewal fees are the annually recurring government and professional fees that You (or, rather, Your offshore company) have to pay in order to continue and maintain the company in good legal standing as per the laws of the state of registration, for as long as the company exists. SD050. Does an IBC need to keep books of accounts and other records? Seychelles Limited Partnerships - Sterling Trust and Fiduciary Ltd. Shares can be held by nominees. Anyone you choose can be a bank account signatory. Must an IBC have an office in Seychelles? A shareholder is someone who is listed as the owner of shares in the companys share register. Do note that it is up to the Registry to approve or reject names. A utility service bill (gas, electricity, water, land-line telephone, but NOT mobile phone), A statement from a major bank or building society, A credit card statement from VISA, MasterCard, American Express or Diners, A certified photocopy of your Drivers License, which should clearly show your name and principal residential address. The zero-tax regime for offshore companies in the Seychelles tax haven is guaranteed by legislation. A common arrangement is to have one group of sole signatories and another group of joint signatories so that your business can continue as normal even when key people are away. Expertise, speed, and affordability are the hallmarks of our service. This may have important implications in legal proceedings and in taxation matters. Depending on the circumstances, simplified due diligence measures may be applied to long-standing clients, affiliates or other contacts with a good track record, which can help reduce order processing time. Can an IBC have only 1 director and 1 shareholder? Seychelles law provides an excellent framework for asset protection trusts, making Seychelles offshore trusts a leading option for safeguarding your financial assets and planning for the future. The approved persons who provide professional directorship and who provide nominee shareholder services would usually be happy to be a bank account signatory but while they would be accommodating, they may query a transaction and ask for more information before executing it. Choose A.C.T. More exactly, Your offshore company does. Can we really trust you, the "registered agent"? In Seychelles apostilles are affixed by the Registrar of the Supreme Court, and the process is usually very quick and not expensive. There is also no set time for them to pay up shares they have subscribed. A regulated person is someone or an entity who is subjected to anti-money laundering regulations and who is reporting entity under such regulations. Seychelles International Business Company (IBC). In addition, companies are required to maintain a register of their directors at the registered office along with filing a copy with the Registrar including any changes. However, it is possible to separate legal ownership from beneficial ownership so that the official holder of the shares do not actually benefit from the shares. Here are a few: With regard to the annual fee requirement, it is also worth noting that international business companies established in Seychelles need to pay an annual government license fee, which is much more competitive than that of many other tax havens such as in the BVI. And we will be there to support you, for the lifetime of your company! It is optional. Since the 1st January 2019, a Seychelles IBCs is subject to Seychelles Business Tax on its net income (profit) for a fiscal year. This may all change shortly and the domestic company may soon also allow you to have only 1 director and 1 shareholder just like with an IBC. For relatively minor issues you will be able to change to another agent. We will process most orders before receiving payment so as not to cause delays, but we will wait for payment before despatching documents by email or post or courier. There is no obligation to pay up share capital immediately. The return must include complete details of the share capital, directors and shareholders. Why incorporate in Seychelles? | OCRA Worldwide The person must not have been declared bankrupt, must not have been convicted of a crime or must not have been disqualified to act as a director in some other way. Ltd.. What can we expect from a nominee shareholder? Limited Liability Most often these are just some annual report forms and the annual government fee notices that get sent to the Registered Address. As an IBC is a limited liability company, shareholders are liable for the unpaid portion of their shares in the event of winding up (liquidation). Oona Muilu - HR Specialist - HiQ Finland | LinkedIn A professional director can monitor more closely. Address of its Seychelles registered office; Purpose Sets out the purpose and/or objectives of the company or corporation; Limited Liability Include a declaration that the members liability are limited; Capital The amount of the capital divided into shares with fixed amounts; Shares The number of issued shares for each subscriber (minimum of two) including the subscribers name; Signatures Each subscriber must sign in front of a witness who also signs the Memorandum. The Act does not address ordinary resolutions so a simple majority of the members present at the meeting will be sufficient to pass. Below are some key features when it comes to a Seychelles international business company: Seychelles is a well-known tax haven. Furthermore, unless the directors of the company have resolved otherwise, the Registered Agent is also the custodian for all Minutes of the meetings and Resolutions of Shareholders, and all Minutes of meetings and Resolutions of Directors. Directors or shareholders do not need to be Seychellois residents (Foreign persons or corporate bodies are acceptable). Can we have a declaration of trust? Privacy and confidentiality are crucial elements that most entrepreneurs and investors often consider when choosing the best place for their offshore company formation. If the IBC is struck off because it did not pay its annual fees there is a clear process to restore it. The flexible character of trusts has allowed them to be adapted to the ever-changing global legal and financial landscape, meaning new uses and adaptations of trusts are constantly being developed to suit the needs of property holders worldwide. Quite often the shareholder may hold shares for the benefit and on behalf of another person. If consultants are busy, please call again. It is intended for businesses that will be mostly international in nature but which will have an increased domestic presence. We also need to know about the countries and regions where the IBC will operate to ensure that sanctioned countries or countries that are viewed as high risk by us and the Seychelles authorities are not or will not be part of your business. Offshore Limited, All Rights Reserved A Seychelles Company Licenced And Regulated By The Seychelles Financial Services Authority. We can also accept certification and verification of end user client documents from a registered professional intermediary, who is also a regulated person. He/she may be either individual or a corporate body. You can complete client registration electronically and then provide all required information to setup the IBC via email, and important original documents can follow by post or courier.However, the best jurisdiction will largely depend on your specific requirements. When a power of attorney is issued, the directors still retain responsibility, and professional directors will need to perform some checks before the appointment (usually before they accept the directorship appointment) and they will also need to perform checks later to find out what the attorney has been doing. About Our Company | Luxury Yacht Charters | Charter Yacht SlipAway No. Can we return the documents and get a refund? As a licensed source provider, we offer company formations directly from Seychelles! If the capital exceeds $2,000 USD, $200 USD plus $15 USD for every increase of $2,000 USD. via Zoom or Teams. What documents can we have to protect us from them? The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Wonder why? Normally when professional directors and nominee shareholders are appointed, agreements called directorship service agreements and nominee shareholder agreements are signed by these persons and the ultimate beneficial owners. It can lease its own offices but if it carries out income generating activities from Seychelles, it may generate Seychelles-sourced-income and be taxed on the resultant profits. The FSA will inspect the file to ensure compliance before restoring the company to the register. It states that the accounting records shall be kept at the registered office or such other place as the directors think fit. In fact, trusts have proven so useful and popular they have expanded beyond common law jurisdictions, with a number of civil law countries recently modifying their codes to allow for recognition of the trust relationship. Seychelles is a part of the Commonwealth, but its government is independent and democratic with a stable society, giving an investment-friendly environment for offshore seekers. We will have professional directors and nominee shareholders. Brightstar Property Invest Seychelles Limited 22th May, 2023 Overview Brightstar Property Invest Seychelles Limitedmade 149import shipments, it's top 2sourcing countries are India, Indonesiaand Top 3Import product categories are: HSN Code 42021990, HSN Code 73239990and HSN Code 94016990 Such shareholder would be called a "nominee shareholder". Shareholders names are not included in the public records. Air Seychelles Ltd - Company Profile and News - Bloomberg Markets However, even if designated as a resident company, if at least 90% of its profits are earned outside of the Seychelles, only a flat 1% income will be imposed instead of the normal 15% rate. Such companies are available for immediate purchase. If you are in Seychelles we may accept, and bank small amounts of cash denominated in major international currencies or in Seychelles Rupees (value less than USD 2000). We are flexible but we prefer payment via bank wire transfer (SWIFT, IBAN, online payments) and most of our clients pay by this method. approves a transaction and is basically someone who can transfer money from an account or sign cheques. Members liability is limited to their shares in the companys capital. Minimum one shareholder, with no disclosure or filing made to the Registrar. be appointed as a bank account signatory, or as attorney under a power of attorney, or as the company secretary etc. Some businesses are specialised and require special skills and knowhow, and a professional director with the required experience and can be the solution. to know when going offshore: What makes entrepreneurs prefer Seychelles? As a with-tax jurisdiction Seychelles has had to take a different approach to EU-dictated substance rules. Background Registration Time Moreover, Seychelles IBCs are exempted from stamp duty on the formation of company, transfers of properties, or transactions in respect of shares, debt obligations, or other securities of a company unless these transactions relate directly or indirectly to real estate situated in Seychelles. With par value shares, shares cannot be issued for less than par value. GBP 1, EUR 1, SGD 1, JPY 1, CNY 1 etc. Sometimes people think the business is owned by the directors because the directors are the most visible persons in the business. We do not charge additional exit fees. We need the IBC documents very urgently. We offer you an all-in-one service package that will include everything for you a foreigner to set up a new International Business Company from the beginning. No. Find company research, competitor information, contact details & financial data for AIRTEL (SEYCHELLES) LIMITED of Mahe. The statutory declaration must be prepared by an attorney declaring all requirements of the Act have been met. Note that since 2021, all IBCs are required to lodge at least copies of all their records with their registered agent in Seychelles. If it is critically important that a company is available within a limited time frame, a ready-made company may be the smarter option. The source of funds will be the personal savings of the principal shareholder but the more information you can provide the better our assessment can be. Ltd. has the option to operate as a private company with no shares or as a corporation with shareholders. However, it is a must to have the authoritys permission if your company intends to conduct some licensed activities as below: Are you planning to engage in financial brokering in Seychelles? Law enforcement agencies and governmental bodies and the Courts can obtain all information held by the Registered Agent in Seychelles. Seychelles is good if you require a general-purpose IBC, particularly if you want a low cost holding company or an special purpose vehicle. Being a part of a larger group - Fidelity Corporate Services group, we offer offshore and EU company formations, company management, accounting and tax planning in BVI, Seychelles, Cyprus and Belize. Fidelity Corporate Services (Seychelles) Ltd is a specialist offshore company formation agent. Please note that all such information is only filed privately in our records. Do the shareholders need to pay up a certain amount of share capital within a certain time frame? Typically, foreigners use this type of company to conduct business outside of the Seychelles. Limited, Corporation, Incorporated, or Limited Liability Company or the accepted abbreviations Ltd, Corp, Inc or LLC. The LLC must choose a trade name which will not resemble any other Seychelles company name. Bearer shares are not allowed. Ease of incorporation in Seychelles is partly attributed to its flexible corporate structure. You will usually be able to have different groups of signatories. Since 2021, Seychelles IBC have been required to lodge their accounting records with their registered agent in Seychelles (thats us A.C.T.). A Seychelles Limited Liability Company (LLC) can be incorporated under the Companies Act of 1972. Our order form lists everything we need, and we can email or message a copy to you. It is in fact a private company that can be fully owned by foreigners, and its shareholders have limited liability. These services include IBCs incorporation, offshore banking, insurance, management of investment funds, etc. the people who receive dividends and other benefits from the shares, and who ultimately control the company based on their rights to appoint or remove directors, or approve changes to the companys constitutional documents. Preparing accounts is a must, but there is no obligation for filing an account with authority. Seychelles is a great place to form IBCs because it has a fast and reliable registry, formation and annual fees are relatively low, and the service providers are very keen to help and are very professional. Ltd. Fees: Upon incorporation, a Pty. These regulations require that we know our clients through a process called due diligence. Slow-downs at the Registry are possible but are rare. May be conducted telephonically or online e.g. Crusading English knights left their manors and estates in the care of trusted friends for safekeeping while themselves away on crusade. We can assist with the transfer of ownership and management (transfer shares and the directorships) to the new owners. The purpose for the Articles is to describe the companys regulations. We would of course return advanced payments if an order is cancelled before we have started any work. We will carry out due diligence checks on the existing company and its directors, shareholders, other officers and beneficial owners. Wonder if your proposed company name is available? With a speedy and simple process,BBCIncorp Limited will help you easily have your business company registered in Seychelles. Government of Seychelles - Business - Foreign Businesses Shares can only be issued in registered form. All companies must lodge their transactional accounting documents (aka substantiating documents or supporting documents) e.g. We are usually referring to a country when talking about a jurisdiction but this is not always the case. Discount For Lower Risk Customers (Simple Business Activity Or Purpose, Few Transactions Or Assets, Clear Source Of Funds And Wealth, No Links To Very High Risk Territories And Sanctioned Countries, All Connected Persons Have No Adverse Media, No Persons Under Sanctions Or Connected To Sanctioned Countries And No Politically Exposed Persons, All Requested Order Forms, Information And Verification Documents Provided Without Delay) USD 797 Less USD 197. Seychelles legislation supports confidentiality. Seychelles company setup services - Healy Consultants Annual General Meeting Seychelles Limited Partnerships are formed pursuant to the Limited Partnerships Act 2003, as amended. An IBC can be incorporated with a non English name provided that a certified translation of the name is submitted together with request. A power of attorney is issued by the directors of the company. We are licenced and regulated by the Seychelles Financial Services Authority (FSA). Yes it can. The share capital of a Seychelles IBC may be denominated in any currency. Professional directors are persons who are willing to be appointed and who are introduced to you by an intermediary or the Registered Agent. The origin of trusts can be found in the eleventh century crusades. Once an order has been fulfilled, we generally we do not accept returns and we do not give refunds, except for our 180 day satisfaction guarantee. An international business company (IBC) is a corporate entity that traditionally does not engage in business in the jurisdiction where it is incorporated. This may include beneficial owner registers and declarations, and due diligence documents used to verify the beneficial owners details, and the accounting records. An Annual General Meeting (AGM) is optional but recommended for good corporate governance. The management and control of the company may be placed in the country where the directors reside. The registration process in Seychelles is regarded as one of the most flexible and fastest. Enjoy the flexibility and easy incorporation of one of the worlds most versatile jurisdictions. Name applications can usually be processed within 1 hour. The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user. We are a compact yet efficient team of trained lawyers, accountants and managers and have the local knowledge, expertise and language skills.Through our group we can provide a unique blend of local expertise in conjunction with a global perspective on the offshore and EU services industry. With a competitive rates Fidelity Corporate Services is pleased to establish professional relationships with introducing agents, lawyers and other businesses acting as offshore intermediaries. An IBC will be a covered company if it is part of a multinational group (MNG) as per the definition in the Seychelles Business Tax Act (as amended). IBCs are usually incorporated in an offshore financial centre which is offshore from where the promoters and founders are. The company name must have an ending which shows its legal form (in most cases it is a private company limited by shares). If they are uncomfortable, they may well refuse to act and they may resign. SEYCHELLES TRADING COMPANY LIMITED Company Profile | Mahe, Seychelles Note that any currency may denominate the share capital but we recommend that whatever currency is used, the minimum number of shares be one whole unit i.e. When people talk about an offshore company they are often talking about an IBC. Info-clipper.com is a pay-as-you-go, subscription-free service. Seychelles Limited Partnerships Offshore Company Management Bank Accounts Virtual Office Ready-made Companies Offshore intermediaries Other Jurisdictions Fees IBC Fees Seychelles Trust Fees Useful How to Register Offshore Knowledge Base Questions (F.A.Q) Downloads Terms & Conditions About us Contact Order Now Menu Home Services Seychelles IBC Incorporation Personal identities of Seychelles IBCs beneficial owners, directors, and shareholders are undisclosed to the public, except in obedience to a court order or enforcements by laws. Seychelles is a good option to go, especially when you concern about how fast your offshore company formation can be done. The declaration of trust can then be signed by the nominee shareholder to confirm that the beneficial owner is the real owner of the shares. It can also benefit from the double taxation avoidance agreements (DTA) that Seychelles has with many fast-developing countries in Asia and Africa. We want professional directors and nominee shareholders. If after 180 days you cannot use your very first IBC for the planned purposes, you may approach us and we will do our best to help you get the results you want, or we may give you a part refund and then resign as registered agent, following which the IBC would be struck off by the Registrar. have an address in that country. Seychelles International Business Company (IBC): A Go-to Guide - BBCIncorp As the registered agent we often also fulfil some of the company secretarial duties but we are not the Company Secretary. We want a nominee shareholder. The holders of the shares, i.e. We can receive payments in United States dollars, Euros, British Pounds, Singapore dollars, and Seychelles Rupees. You can also appoint your own overseas nominee, perhaps your lawyer, accountant or other professional intermediary, or a good friend or trusted family member. Fortunately, Seychelles is among the most reputable tax havens for its privacy and confidentiality for offshore companies. We provide the registered office in Seychelles. A Pty. We may also refuse to act for politicians and celebrities. Our forms are quite short and simple and are usually not more than 2 or 3 pages long. It received its independence from the United Kingdom in 1976. Ltd." Instead of "LLC". One Day To Spend with limited company - Helsinki Forum Pentti is a self-taught entrepreneur who has completed numerous seminars and courses from the world's leading business gurus, read hundreds of business books, and an endless hunger for a better understanding of international business to achieve better results. No audit requirement. We also ask for a short statement about the source of funds to setup an IBC and to make it work. 2023 Copyright A.C.T. It has always been a duty of the directors of the company to do so. This is called the Registered Address. Try our NAME CHECK TOOL now. You could also appoint an intermediary you know and trust such as your lawyers or accountants overseas (not in Seychelles) to manage your company. The Seychelles limited liability company (proprietary company) Also known as the "Seychelles proprietary company", the Seychelles LLC can be established with i) a minimum of US$1 ii) two shareholders who can be corporates and non-resident foreigners iii) 2 individual resident directors and iv) one resident company secretary; Except for small pure holding companies, companies are also required to prepare a simple financial summary for which we can provide an example. Anyone can be a shareholder, there is no age requirement. A "tax haven" (or "tax shelter") is neither a legal, nor a political, official or scientific term. Recommended reading: why and how to use a nominee director/shareholder service with BBCIncorp. The US dollar is the defacto currency in international trade such that many IBCs and other offshore companies operate in US dollars. Company profile page for Air Seychelles Ltd including stock price, company news, press releases, executives, board members, and contact information A domestic company is also popularly used to own Seychelles land and buildings. Is Seychelles the best jurisdiction for IBC incorporation? Seychelles has a territorial tax system so there would be a tax liability only if you derived income from a source in Seychelles, or if the company was part of multi-national group, and it derived foreign passive income without having sufficient substance in Seychelles. Yes Seychelles law recognises digital signatures, and specifically recognises the service provided by Docusign. A dedication delighting our customers, to accurate document filings, to timely service for those items within our control, and serving the best interest of our treasured clients. International Business Companies (IBC) - Seychelles - Uniwide.biz We also have special arrangements for active professional intermediaries. The technical storage or access that is used exclusively for anonymous statistical purposes. A power of attorney can also give a person who is not a director powers to sign for the company. In order to incorporate, the Memorandum and Articles of Association must be amended to include the following terms: Shares can be issued. The IBC is the general-purpose option for international business and is used for most activities. Either the Memorandum or the Articles of Association must identify the subscribers, officers, and the initial two directors of the Pty. Because of these agreements the professional directors and nominee shareholders will not be able to appoint new directors or sell shares without the prior approval of the ultimate beneficial owners, and we would not process the changes without the written consent of the ultimate beneficial owners. It is common for overseas intermediaries to offer the service and in practice intermediaries often act as company secretaries and keep documents including accounting documents. This is for newly onboarded clients only, who have not previously obtained a Seychelles IBC. (and CSL 1and LP0001 in 2004! No. Officially, it is called the Republic of Seychelles. Trust Formation Companies with turnover of more than US$ 3,750,000 are obligated to keep a Financial Summary along with the accounting records in Seychelles within six months from the financial year end. HILL VIEW RESORTS (SEYCHELLES) LIMITED Company Profile | Mahe Can an IBC legally exist without any directors? Does an IBC give foreigners an unfair advantage over residents? Can we have the documents now and we will complete client registration later? Box 513, Victoria, Mah, SEYCHELLES (+248) 4321370 It is totally optional. BBCIncorp Limited, Hong Kong - Registration number: 2508698 and D-U-N-S number: 664611652, Seychelles International Business Company (IBC): A Go-to Guide. There is no minimum capital requirement but in practice USD 1 on the equivalent in other currencies is used. Overseas individuals and corporate entities may provide professional director services without any restrictions, and it is common for an overseas professional director to be appointed. All in all, the Registered Agent performs several important legal functions, without which the IBC would not be able to legally exist. Why do you need our passports and other documents and information? during the setup phase. Offshore Company Formation Pentti Vartiainen - Growth Director, International - UltraLeanBusiness Yes you can, provided that the laws of the existing country allow you to transfer the company to Seychelles. Why should I pay for the Registered Office and Registered Agent if I don`t even use them? About Us | Fidelity Corporate Services | Seychelles Company It can be used for Seychelles business, but the local market rarely opts for it. The public records only contain the Memorandum and Articles of Association. Courier to most places thereafter takes 3 or 4 days. An annual general meetings of members (or shareholders) is required. We can prepare and maintain it for you. Normally signatory rights are defined in the companys constitutional documents, the memorandum and articles. This manual covers all you need
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