CALL BACK

CALL BACK


Agreement on Processing of Personal Data CZ / EN

SEYCHELLES

  • The Republic of Seychelles or Seychelles is an offshore country (tax haven) on the Indian Ocean archipelago, east of Africa and north of Madagascar. Capital: Victoria, on the island of Mahé. Official languages: English, French, Creole. Seychelles Currency: Seychelles Rupee – SCR and USD.

    Note – On November 30, 2018, the Seychelles adopted an amendment to the Business Companies Act (2018), which amends the International Business Companies Act (2016, abbreviated as the “IBC Act”).The main changes are as follows after the amendment:

    1. Cancellation of Directorate Registry Advertising – In line with previous IBC Laws, the Registry of Directors filled in by the Registrar should be published on December 1, 2018. The amendment cancels public access to the Registry of Directors and permits consultation only in the following cases:
    • on the basis of a court order
    • in the case of a statutory duty (such as the Financial Intelligence Unit under the Anti-Money Laundering Act or the General Commissioner under the Income Tax Act)
    • the registered representative of the company to which the registration relates
    • assigned to a third party under the authority of a registered agent or director of the company
    1. Extension of Registrar’s powers to recover deleted Companies – Under the previous provisions of the IBC Act, the Registrar could only renew the Company in cases where it was erased due to non-payment of annual fees. The new adaptation of section 276 of the IBC Act entitles the Registrar to also restore companies that have been deleted for the following reasons:
    • ending a business or not doing any business
    • failure to submit a notification or failure to provide a document required by the IBC Act
    • not requiring a registered representative
    • failure to comply with a request made under the IBC Act or other law by the Registrar or the authorities of the Republic of Seychelles
    • non-listing of Directors, Members’ Register, Fee Records, Registry of Real Owners, or Accounting Records that must be kept in accordance with the IBC Act or any other records required by the IBC Act
    • non-payment of penalty fees imposed by the Registrar
    1. Extension of the deadline for supplementing the Directors’ Register and fulfilment of the obligations related to the actual owners – the amendment to the IBC Act extends the deadline for fulfilling the requirements for filling in the Register of Directors with the Registrar from 12 months to 24 months from the effective date of the IBC Act in line with the requirements of Circular Financial Security Authority No. 6, extends the deadline for fulfilling the obligations pertaining to beneficial owners from 12 months to 18 months from the effective date of the IBC Act (ie by May 31, 2018).
    2. Extension of the period for the cancellation of the company – under section 275 of the IBC Act, companies that have been deleted continuously for 5 years are cancelled with effect from the last day of that period. The amendment extends this period from 5 years to 7 years (this period will include the deletion period for companies based on the previous legal regulation (ie the IBC Act, 1994).

     

    The main advantages of the Seychelles offshore company

    • The rapid establishment of an offshore company – usually within one day
    • the registered capital of the offshore company may be registered in any amount without the obligation to repay it
    • the possibility of issuing shares to the owner, shares in the ownership in paper form may not leave the territory of Seychelles
    • zero income tax offshore company in cases where income comes from a source outside Seychelles
    • accounting is required but is not required to surrender or to anyone to submit for inspection – only the location where important accounting and other offshore documents will be kept
    • the tax return is not submitted
    • Since April 2009, the Republic of Seychelles has been included in the so-called OECD White List – ie among states with tax-standard legislation
    • the possibility of choosing the name of the Seychelles company with any addendum determining the legal form of the company, eg k.s., o.s., s.r.o., s., GmbH, AG, Ltd., Co., LLC, etc., which increases the variability of the use of such an offshore company
    • the possibility of using a service nominee (nominated executive and shareholder) for an even higher degree of ownership anonymity
    • non-public register – the data on the persons participating in the company only have a registration agent and are therefore not publicly accessible
    • due to a double-tax treaty with Cyprus, is suitable for joining the Cypriot corporate structure to reduce the tax burden on Cyprus

    Offshore Seychelles – International treaties

    International Conventions on Money Laundering and Terrorist Financing – Seychelles have signed these treaties. The practical significance of these agreements for company owners is particularly in the case of a suspicion of money laundering or terrorist financing by a Seychelles firm and its registration agent can pass on the personal data of the persons involved in the company and a basic description of its activities to its superior authorities, international aid will go further, eg to the Czech Republic.

    The double tax treaty with the Czech Republic is not concluded. Direct taxes from the Czech Republic to Seychelles are subject to withholding taxes. The Seychelles Company is not suitable for the direct sale of goods or services to the Czech Republic.

    Agreement on exchange of tax information with the Czech Republic is not concluded -> Higher degree of ownership anonymity.

    The Multilateral Council of Europe Convention on Mutual Administrative Assistance in Tax Matters is not concluded.

    Common ways of using Seychelles company

    • holding parent of another company (eg in the Czech Republic) for the purpose of anonymity ownership and cover of the real owner of the company structure
    • the direct sale of goods or services where there is no need to use the system of double taxation conventions and there is no risk of withholding taxes – ie in cases where payments do not flow directly from the CR but from other offshore destinations or destinations that have a mutual agreement to avoid double taxation taxation (eg Cyprus)

    Benefits

    By incorporating on Seychelles, the company will gain a wide range of competitive advantages, including:

    • establishment of the company within 24 hours
    • a “one man company” (the same director and shareholder) may have no permanent residence
    • non-disclosure of shareholders and directors in a public register and any government body
    • the registered capital may be any amount and the state fee remains the same, no additional fees
    • business activity can be done anywhere in the world
    • no requirement for annual general meeting of shareholders
    • no requirement to submit audited accounts
    • a limited liability company is also established without paid-up share capital
    • 0% tax
    • legal exemption, without tax of any kind of income, it means no accounting costs

    What’s Included:

    • company registration
    • payment of state fees
    • registered agent and headquarters in Seychelles in the first year – see the PRICE LIST for details

    Offshore company set up on Seychelles

    Seychelles IBC (International Business Company) is the most popular and versatile offshore company in the Seychelles. Other types of companies, such as Limited, Ltd, are also available; Incorporated, INC; Societe Anonyme, S.A .; Aktiengesellschaft, A.G.

    Tax laws

    Like most other major offshore jurisdictions, the Offshore Company (IBC) is exempt from tax and designed to engage in all forms of international trade, with no information and minimal record keeping requirements, and with consistent protection of confidentiality. The tax advantages and general structure of the Seychelles (IBC) are governed by the Seychel International Business Act 1994. The offshore company (IBC) is not subject to a tax or income or profits, as defined by the law. Seychelles Offshore (IBC) shareholders are also not subject to IBC income tax. Seychelles are not subject to taxes under the EU Savings Tax Directive, as opposed to some other offshore jurisdictions that apply to EU countries (especially to the UK and its overseas territories). Essentially, the Seychelles Offshore Company (IBC) is completely tax free.

    Bearer Shares

    For Seychelles IBC, shares may be registered to the owner but this cannot be done anonymously. If some shares are issued to the owner, the Company’s registration agents need to be kept and a registry of bearer shares recording the names and addresses of all the individuals to whom the bearer shares are issued are recorded.

    Confidentiality

    Confidentiality is one of the key elements of the Seychelles International Company, it concerns data about real owners of the company, directors and shareholders that are not part of the public record. When registering a new IBC, the record does not require any indication of who is the actual owner of the new offshore company. This information is known only to the licensed Registrar Agency and is kept in complete confidentiality. IBC’s internal corporate documents, such as the shareholders’ register, the Registry of Directors, and all records and resolutions, are stored in the Registry Agent’s offices and are confidential. The only documents of the Seychelles IBC, which are kept in a public register, are the Memorandum of Association with statutes. These documents do not contain any information about actual shareholders or actual owners of the company.

    Seychelles bank account – please contact us through the contact form for the possibility of setting up a bank account for your company.

Contact
Tetragrammaton a.s.

Žitná 562/10
120 00 Praha 2 – Nové Město

+420 777 025 554
+420 777 775 524

More questions?


Agreement on Processing of Personal Data CZ / EN

Top