In the Indian Ocean, there’s a beautiful group of 115 islands called the Republic of Seychelles. It gained independence in 1976 and has been growing economically ever since. As of now, the jurisdiction has become an important financial center in Africa and a popular choice for people looking to set up businesses outside their home country.
Expanding your business to another country has many advantages. In Seychelles, a strong financial sector forms the backbone of the local economy. It offers various services like offshore banking, registering offshore companies, investment funds, insurance, and more. This article explores the benefits of starting a business in Seychelles.
Here’s why you can’t but start a company in Seychelles: a promising economy and secure governance
Your business success depends on how well the country’s economy is doing. Luckily, Seychelles is experiencing steady economic growth, and is likely to continue to do well. The government is working on reducing debt, which helps keep the country stable.
Political stability is very important for businesses to thrive. A study from the London School of Economics showed that when a country changes from a democratic government to an autocratic one, it can be bad for businesses, especially in tourism. In Seychelles, you’ll find a free and stable democracy. There’s very little chance of political unrest or revolutions that could disrupt your business, so it’s a safe place to operate.
Here’s why you can’t but start a company in Seychelles: privacy in focus
Privacy has become a big topic of discussion, especially when it comes to personal data. Yet, if you choose to register a Seychelles company, you can be sure that your privacy is protected by the law. The only information that will be made public is about the first company director. The identities of shareholders, other directors, and beneficial owners will be kept private.
Seychelles being independent means the jurisdiction won’t share your information with other countries or organizations. This independence means there’s very little political pressure to disclose information in Seychelles, making it a safe place for your business.
Here’s why you can’t but start a company in Seychelles: a simple path to success
Starting a business in Seychelles is less than simple. The jurisdiction has one of the easiest business incorporation processes worldwide. Seychelles International Business Companies or IBCs for short are especially attractive to people from other countries, and the steps to incorporate them are refreshingly simple.
You can get a new IBC set up and running in just 24 hours. English is widely used for business, so there won’t be any language issues. You don’t need to invest any money upfront, and there’s no requirement for a minimum stock value, which means you won’t have to commit much financially to start your business.
Here’s why you can’t but start a company in Seychelles: simplified incorporation for IBCs
Seychelles is a welcoming place for different types of businesses. In the case of an IBC, you only need 1 person to be the director and shareholder. Right you are, it can be the same individual. There are no rules about where you come from, and you don’t have to hire a local director.
In Seychelles, you won’t have to file taxes or do an audit if you keep proper accounting records. Remember though, this rule only applies if your IBC doesn’t make money in Seychelles. There is no requirement to hold an annual meeting in the country. Doing it by phone or video is totally fine.
Here’s why you can’t but start a company in Seychelles: a supportive environment for businesses
Seychelles is a popular place for businesses to start, and you will enjoy a lot of help. If you don’t want to deal with the legal stuff on your own, multiple companies and law firms can do it for you at a good price.
A big network of experts in finance, law, and secretarial work is always close at hand. These experienced professionals will eagerly assist you. If you need technical help, it is easy to obtain as well.
Here’s why you can’t but start a company in Seychelles: a territorial tax system
Incorporating in Seychelles has a big advantage: you won’t have to pay taxes there. The country uses a territorial tax system. This means any money you make outside of Seychelles won’t be taxed. We mean things like profits, interest, and taxes on business deals.
To fully benefit from this tax advantage, your company should not make any money in Seychelles. Also, there might be rules about owning property or special licenses needed, especially for financial companies. Just keep in mind that you might still have to pay taxes in your home country if it has such a requirement.
Here’s why you can’t but start a company in Seychelles: easy maintenance and premier banking services
Once your company is registered in Seychelles, you don’t have much to worry about. Keeping your business in Seychelles is even easier than setting it up initially.
Seychelles offers some of the best banking facilities worldwide, with excellent services for your business banking and financial needs. If you have an IBC, it’s a must to have the main bank account in Seychelles. You can choose from different types of bank accounts, some supporting multiple currencies. Internet banking is a standard and highly secure feature.
You can even open a bank account from another country. There’s no need to go to the bank in person. The minimum balance requirements are very low or non-existent in Seychelles. All nationalities are welcome, except for those on international sanctions lists.
An offshore company in Seychelles comes with many benefits. Whether you care about paying less taxes, keeping things private, running a business easily, or having a stable political environment, Seychelles has something for you. To make things easier and follow all the rules, consider getting help from International Wealth experts who know all about company incorporation in Seychelles. They will guide you through the process and help you make the most of starting a business in the jurisdiction.