SEYCHELLES

Seychelles are situated in the Indian Ocean southward of equator with total territory of 176 sq miles and population about 78 000 people. There are three official languages: English, French and local Creole. National currency of Seychelles is Seychelles rupee. 1 USD=6.50 SCR.

The vast majority of companies formed in the Seychelles for offshore purposes are incorporated under the International Business Companies Act 1994. However this law did not supersede the existing Companies Law 1942, which is based on English law and is used to form various types of company used by businesses trading in the Seychelles, and also for offshore businesses which are not permitted to use the IBC form, such as banks, insurance companies and mutual funds.

Companies formed under the Companies Act 1942 can be private companies limited by shares, by guarantee, or hybrid; or they can be unlimited, but that is rare. Public companies can also be formed under the Act.

OUTSTANDING FEATURES:

Advantages	- Stable political and economical environment; - Relatively low costs of company registration;
Corporative legislation	The International Business Companies Act, 1994 Business Tax Act, 1997;
Form of tax-exempted company	IBC (International Business Company);
Authorized business activities	All and any activities not prohibited by the law. Providing of banking, insurance and re-insurance, trust services is subject to special license;
Prohibited activities	- Transactions with the residents of Seychelles, ownership of real estate on the territory of Seychelles;
Taxation	IBC company is discharged from Business Tax, withholding tax and Stamp Duty;
Name of company	Name of the company can be in registered any language (must be translated into English or French). Words Limited, Corporation, Incorporated, Societe Anonyme or Sociedad Anomina,Public Limited Company, Societe, a Responsabilite Limitee, Berhad, Proprietary, Namloze Venootschap, Besloten Venootschap, Aktiengesellschaft or Limited Life Company or abbreviations Ltd, Corp, Inc, S.A., PLC, S.A.R.L, Bhd, Pty, NV, BV, A.G. or LLC will be a part of every companies name;
Who executes the foundation documents?	Two signatories, whose functions are limited to signing of the foundation documents and nomination of the first director;
Statute capital of the company	No requirements;
Offered statute capital	5,000 USD;
Shares	Both registered and bearer shares- class, sort and share departments by owners selection;
Shareholders - Minimum number - Nominal shareholders - Holders of trust equities	One(legal or natural entity); Yes;
Does the law provide for non-disclosure of the information? - About actual owner of the company - About bank transactions	Yes; Yes;
Directors - minimum number - nationality and citizenship - status	One (can be a legal entity); Any nationality, does not have to be a resident ; All the powers apart from those falling into exclusive competence of shareholders (as determined by memorandum, articles of association and/or the law);
On the territory of Seychelles there has to be: - registered office - registered agent	Required; Required;
Holding of the meeting of -shareholders -directors	Not required; Not required;
Mandatory - keeping of accounting records - annual account - presentation of auditors conclusion	No; No; No;
Information at disposal of third party	Complete anonymity. Copies of the following documents are information at disposal of third party: statute, constitution agreement of company, evidence of registration;
Documents kept at the registered office	Place of keeping documents any (must inform the registrar (Seychelles International Business Authority) where the documents are kept);
Agreements on exemption from double taxation	China, Indonesia;
Currency control	No;
Term of incorporation	3 weeks;
Costs of registration of company	Look below
Financial year ending on:	In 60 days before the anniversary of  incorporation/formation
Possibility to purchase a ready-made company	Yes

IBCs are permitted various activities within the Seychelles without compromising their offshore status under the Act; these include:

• professional contacts with lawyers, accountants etc.;
• preparation and maintenance of books and records;
• the holding of directors' or shareholders' meetings;
• ownership of shares in other Seychelles companies, whether under the Act or the 1942 Companies Law;
• ownership of Government or Central Bank securities;
• ownership of a vessel registered in Seychelles.

SEYCHELLES INTERNATIONAL BUSINESS COMPANY FEES STRUCTURE

I. THE BASIC SET OF SERVICES AND DOCUMENTS:

US$ 600

The set includes the applicable Minimal Government Registration Fee, a current year Registered Agent and Registered Office Fee , Certificate of Incorporation, Memorandum & Articles of Association, Minutes with Appointment of Initial director(s), Share Certificates.

II. OPTIONAL SERVICES

Legalization by Apostille (recommended): US$ 180

Note. Seychelles is a signatory to the Le Hague Convention of October 25, 1961, and therefore the documents of the company can be authenticated via Apostille and automatically legalized in all countries having signed the convention. So, there is no need to provide expensive and time consuming legalization in consular establishments when you are opening bank accounts, setting up a branch, purchasing a real estate property, etc.

US$ 150 per document for each extra copy of Certificate of Good Standing , Certificate of Incumbency , Certificate of Incorporation , Certificate of Formation ,  Memorandum & Articles of Association, Articles of Incorporation, or By-laws.

Certificate of Good Standing with Apostille: US$ 250

Nominee Director's Package: US$ 590

The Nominee Director's Package consists of nominee director's services and general power of attorney authenticated by apostille for one year.

Note. Using the General Power of Attorney you would be able to sign contracts, open, manage, and close bank accounts and generally do all things what the company director would do.

Full Nominees' Package: US$ 990

The package consists of the Nominee Director's Package (see above) and a Nominee Shareholder services.

Virtual Office services:

Mail and fax forwarding.

Service fee USD 450 per year + deposit USD 100 for handling charges.

Document re-mailing.

Service fee USD 790 per year + deposit USD 100 for handling charges.

Telephone confirmation.

Service fee USD 790 per year + deposit USD 100 for handling charges.

COMBINATION OF SERVICES

Mail and fax forwarding + document re-mailing: USD 1050 per year + deposit USD 200 for handling charges.

Mail and fax forwarding + telephone confirmation: USD 1050 per year + deposit USD 200 for handling charges.

All three services: USD 1650 per year + deposit USD 200 for handling charges.