Offshore Companies and Banking

Incorporation (Setup) Costs - US$1,250
The fee is all inclusive, no hidden costs.

Annual Maintenance Costs - US$850
The fee is payable after the first year and covers annual taxes, registered agent and nominees. No hidden costs.

Our company kits are always delivered with the same documents and may vary slightly from jurisdiction to jurisdiction. All our companies come in a deluxe corporate "attache kit", which is all inclusive and ready for use document kit.

Our corporate kits are delivered with the following documents:-
- Articles of Incorporation in English (Notarized and legalized by Apostille)
- Appointment of First Directors / Nominee Directors (if applicable)
- Nominee shareholders (if applicable)
- Shareholder certificates
- Minute Books
- Share registry books
- 1 Power of Attorney (in English and Spanish Notarized and legalized by Apostille)
- Certificate of Incorporation
- Trust agreement (when applicable)
- Minutes and / or board resolutions when requested
- Corporate seal

Seychelles International Business Companies are useful alternatives to offshore companies established in jurisdictions such as the British Virgin Islands. In December 1994 the Seychelles enacted legislation enabling the registration of International Business Companies, International Trusts and the licensing of International (free) Trade Zone Companies. More recent legislation covers the licensing of offshore banks, offshore Insurance, mutual funds activities and the regulating of a securities industry. The new laws were a result of intensive studies of long established offshore jurisdictions and world-wide trust legislation. Although not dissimilar to those of the well-established offshore jurisdictions such as the Cayman, the laws take a most comprehensive, modern and attractive approach to the establishment and operation of offshore companies, mutual funds, offshore banking, offshore insurance and freeport activities. Seychelles is one of the fastest IBC registrar in the world. The International Business Companies Act, 1994, governs the operations of offshore companies. The registration process in Seychelles is straightforward.

Type of Company for International Trade and Investment The Seychelles
International Business Company.

Procedure to Incorporate
Filing of Memorandum of Incorporation at the Registry. The Articles of Association can be filed either at the same time or within 30 days of incorporation.

Restrictions on Trading
Cannot trade within the Seychelles or own real estate there. Cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management (other than the company's own assets) or any other activity that would suggest an association with the banking and insurance industries. A Seychelles IBC cannot provide registered office facilities in the Seychelles, or sell its shares to the public.

Powers of Company
A Seychelles incorporated Company has the same powers as a natural person.

Language of Legislation and Corporate Documents
English or French. If any other language is used it must be accompanied by a translation in either English or French.

Registered Office Required
Yes, must be maintained in the Seychelles at the office of a licensed Registered Agent.

Name Restrictions
Anything identical or similar to a company already incorporated. Anything that implies patronage of the Seychelles, or any other government, insurance, royal, imperial or any other name that may imply that a company intends to undertake a licensable or undesirable activity.

Language of Name
The name can be in any language, but must be accompanied by a translation in English or French. The documentation will either be in English, or it is possible to have bilingual documentation in English and Chinese or any other language accompanied by a translation in English or French.

Suffixes to Denote Limited Liability
Limited, Corporation, Incorporated, Société Anonyme or their abbreviations. A wide variety of other suffixes such as BV, GmbH, and SARL may also be used.

Authorised and Issued Share Capital
Seychelles IBCs are normally incorporated with an authorised share capital of US$100,000 with par value. This being the maximum for the minimum licence fees. The authorised share capital may be expressed in any currency. The minimum issued capital is either one share of no par value or one share of par value.

Classes of Shares Permitted
Registered shares, bearer shares, shares of no par value, preference shares, redeemable shares and shares with or without voting rights.

Licence Fees
For an Authorised Capital of up to US$100,000 the annual licence fee is US$100.
Over US$100,000 Authorised Capital the annual licence fee is US$1,000.

Financial Statement Requirements
There is no requirement to file financial statements, but a company must keep records to reflect its financial position.

Directors
The minimum number of directors is one, who may be a natural person or a body corporate. They may be of any nationality and need not be resident in the Seychelles.

Company Secretary
A Seychelles IBC need not appoint a company secretary, although it is customary to do so. The secretary may be a natural person or body corporate, be of any nationality and need not be resident in the Seychelles.

Other Facilities Available in Seychelles
In addition to a modern suite of corporate legislation the Seychelles benefits from a range of other facilities including:

The Seychelles group of islands in the Indian Ocean comprises over one hundred named islands, most being situated between four and five degrees South of the equator. The largest island is Mahé.

Population
The Seychelles has a population of around 80,000, descended primarily from French settlers, Africans, British sailors and traders from India, China and the Middle East.

Political Structure
Discovery of the Islands is credited to the Portuguese explorer Vasco de Gama. The first French settlement was established on St. Anne Island on the 27th August 1770. In 1814 the Seychelles, along with Mauritius, were ceded to Great Britain under the terms of the Treaty of Paris. It was only in 1960 that the first gradual constitutional reforms were introduced. The Head of State is the President and a National Assembly of directly elected Members heads the legislative side of Government. Seychelles is an independent republic within the British Commonwealth.

Infrastructure And Economy
The Seychelles economy is primarily tourism and fishing based. Industrial fishing is on the increase.The rapidly expanding financial sector, linked to the establishment of the Seychelles International Business Authority and a suite of progressive laws facilitating the establishment of offshore structures and encouraging inward investment, is now a significant element of the economy. An ever-increasing number of international banks and insurance companies have established either branches or subsidiaries whom, together with local management, accounting and legal firms provide clients with support. The Port of Victoria is well equipped with modern cargo handling equipment and has more than 6,000 square metres of covered storage space. The Seychelles International Airport is one of the finest in the Indian Ocean region. In addition to the national flag carrier, Air Seychelles, the airport is served by a number of other airlines.

Language
The official languages are English, French and Creole. Creole is spoken widely. English is the main language of business.

Currency
Seychelles Rupee.

Exchange Control
Exchange controls do not apply to 'offshore' business.

Type of Law
Based on English Common Law and French Civil Law.

Principal Corporate Legislation
The International Business Companies Act 1994.

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