About Seychelles Offshore jurisdiction
The Republic of Seychelles is an archipelago of 115 islands located in the North-West Indian Ocean and attached to the African continent. The state is independent since 1976 and the main island is Mahé. Seychelles is a member of the Commonwealth and La Francophonie. It is also a member of the Southern African Development Community. The sectors of the offshore and the free zone have developed considerably in the last ten years in the Seychelles. Indeed, this country enjoys a favourable time zone for trade between Europe and Asia. In addition, it is on the OECD White List of tax havens, not on the Grey or Black. Therefore, this archipelago brings together the conditions for a good tax optimization. The Seychelles International Business Authority (SIBA) is responsible for checking the coherence between governmental provisions and offshore professionals.
Taxation in Seychelles
Over the last fifteen years, nearly 80,000 foreigners have decided to set up their business in Seychelles, which is almost equivalent to the number of inhabitants! This archipelago has thus become the fourth jurisdiction in the world for the incorporation of offshore companies, behind the British Virgin Islands, the Bahamas and Belize. The Seychelles authorities decided in 1994 to make the offshore sector the third pillar of the country’s economy by authorizing the establishment of the International Business Companies (IBC), after studying offshore jurisdictions and international fiduciary legislation.
Seychelles has a very “holiday” connotation. The establishment of a trading or service company would therefore not be credible. However, an IBC is perfectly adapted. Moreover, this company has many advantages. Indeed, the tax on profits is zero, as is VAT or the withholding tax on dividends. A company based in Seychelles is therefore not subject to any taxation, except the annual taxation, which is about 120 euros, very low amount. It should be noted, however, that no double taxation convention is binding on the Seychelles and France.
The Seychelles authorities want to attract international investors. In addition to tax relief, incentive techniques such as simplification of procedures have been put in place. The country is gradually becoming a paradise for ethical investors.
Open an offshore bank account with FBS Banking™
The Seychelles archipelago has long been famous for its tourism and fishing, but today it is considered as an important offshore financial centre thanks to its dynamism and liberalism. Moreover, its legislation makes it a rather discreet place. The Seychelles administration is one of the most simplistic and efficient in the world, which makes it very affordable and not too restrictive. It is therefore ideal for foreigners wishing to set up their offshore company there.
Our banking partner in Seychelles allows multi-currency bank accounts, international bankcards, a simple and efficient eBanking platform, and a secure bank account. You will thus be able to fully benefit from your financial assets fully secured and manage your bank account entirely by Internet.
Opening an offshore bank account or creating an offshore company in the Seychelles is easy with our teams. Moreover, it should be noted that the initial deposit of your offshore banking account requested by the banks is low and that it will therefore not be a brake on the opening of your offshore bank account or the creation of your offshore company in Seychelles.
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