Seychelles as a Jurisdiction
Seychelles is a country that has grown from being a traditional fishing and tourism economy to being a contributor to the growth of world economy and in enabling international flow of capital, wealth, and investment.
Seychelles has adapted a sustainable growth model by re-positioning itself to tap into human capital and provide Financial Services as a jurisdiction. The political stability, good communication infrastructure, a sound legal system, and high standards of professionalism have been the important factors of the growth of this sector. The official languages are English, French and Creole. Though Creole is spoken widely, English is the main language of business. Today, Seychelles is among the fastest growing jurisdictions in the world.
The Seychelles Financial Services Authority is the regulator for non-bank financial services in the Seychelles. Established under the Financial Services Authority Act, 2013, the Authority is responsible for the licensing, supervision and development of the non-bank financial services industry of the Seychelles. The Authority is also responsible for the registration of International Business Companies, Foundation.
The double taxation treaties with countries such as China, Indonesia, Belgium, Cyprus, South Africa, and UAE among over 10 other countries make Seychelles a perfect business destination for international traders. Seychelles provides a wide array of products such as International Business Company (IBC), Special License Company (CSL), Protected Cell Company (PCC), Domestic Company, Trusts, Mutual Funds, Offshore Bank Accounts, Foundations, and services such as Legal, Accounting & Auditing that are ideal for offshore businesses.
Since the introduction of the Seychelles International Business Companies Act in 1994, over 100,000 Seychelles IBC’s have been registered, with more than 600 new offshore companies being registered every month. Seychelles has one of the fastest Registries of International Business Companies in the world. New IBC’s are usually incorporated within 24 hours.
Summary of Advantages:
Political Independence and Stability
Convenient Time Zone
Multiple Banking choices
Migratable /Re Domicile permitted
With absolute compliance to the International AML regulations and the confidentiality that the local regulations provide, the industry and the jurisdiction of Seychelles is poised to grow further. Unparalleled advantages such as relatively inexpensive set up costs, unlimited authorized capital, and faster speed of establishing offshore companies are only strengthening this destination.