SEYCHELLES
INTERNATIONAL BUSINESS CORPORATIONS (IBC)
 

SOCIAL AND ECONOMIC INDICATORS

» LOCATION

Indian Ocean, 240 miles East of Kenya

» SURFACE AREA

More than 100 islands comprise the 284 square miles. A third of the population lives in Mahe, the capital city

RELEVANT ELEMENTS OF THE COUNTRY

» Excellent corporations law

» Flexible corporations law.

» There are no taxes on international or banking

transactions

» There are no foreign currency control regulations

» Political and economic stability

» Services of the main international airlines

» Excellent hotels accommodations

» Excellent international communication systems

» Qualified personnel

» No taxes on capital earnings, income, or any other type of

taxes

COMMERCIAL TRANSACTIONS

IBC’s can engage in any licit business in any country, and carry out transactions in any currency they choose

DIRECTORS/DIGNITARIES (SECRETARIES), AND SHAREHOLDERS

» Shareholders, directors, and/or dignitaries can be natural

or juridical persons

» The appointment of the initial directors and/or dignitaries

or the subsequent changes in same is not required to be registered

» Directors can grant general or special powers of attorney

» Companies are allowed to have a sole director

» Directors or dignitaries need not be shareholders

» Shareholders, directors, and dignitaries can be of any

nationality and residents of any country

» Shareholders and/or directors meetings can be held in any

country and they can participate in them via a power of attorney or via any other electronic mean such as telephone, fax, etc.

REGISTRIES

The books, accounting records, and certificate of the company can be kept in any place or country that the directors choose

USE OF INTERNATIONAL BUSINESS CORPORATIONS OF SAMOA

» Titleholder of bank accounts, fix-term deposits,

investment projects, and any other financial or commercial title

» Proprietor of shares of other corporations or legal entities

» Proprietor of apartments, houses, buildings, ships, or any

other assets, chattel or real estate

» Administrator or promoter of international commercial

transactions

» International leasing of vehicles, machinery, ships, and

other

» Ideal instrument to give or receive money in loan, pay or

receive commissions, royalties, and other revenues

» Marketing and promotion of products and services

» Other commercial and financial activities

COSTS AND HONORARIES

Reasonable incorporation and maintenance costs (inscription rights and annual license of US$100.00, independently of the amount of the authorized capital)

» POPULATION

80,469 (July 2003 estimate)

» CLIMATE

Tropical

» OFFICIAL LANGUAGE

Selsewa, but English is the official language for international business

» GOVERMENT

Constitutional democracy. Member of the Commonwealth of Nations

» STANDARD OF LIVING

High

» BANKING

International banking systems available

» CURRENCY

Seychelles Rupi, which has an exchange rate of approximately SR5.00 per Dollar of the United States of America

» INDUSTRY

Tourism, financial services and small industries

TAXES

Tax exemption on any commercial activity or transaction carried out outside of the Seychelles

AUTHORIZED CAPITAL / SHARES

» Nominative or bearer shares are issued, as the shareholder wishes

» No paid-in-capital is required

» Absence of minimum or maximum capital requirements

ANNUAL DECLARATIONS

It is not obligatory to present annual performance declarations or reports nor financial statements; it is not obligatory to hold annual shareholders or directors meeting

INCORPORATION AND ADMINISTRATION

» Ample availability of company names for incorporations

» Familiarity with incorporation documents (Corporate Charter and By-Laws,

Certificate of Incorporation) due to the fact that Seychelles is member of the Commonwealth of Nations

» The words “Limited”, “Corporation”, “Incorporated”, “Société Anonyme”, or

“Sociedad Anónima”, or the abbreviations “Ltd.”, “Inc.” or “S.A.”, can be used as part of the name of the corporation

» Incorporation documents can be drafted in any other language, together with

their English or French translation

» Expeditious incorporation process and simple administration

» Incorporation process takes from 2 to 3 days

» Incorporation certificate issued in only 24 hours

» The Public Registry of the Seychelles has a modern and sophisticated system

that increases the speed and efficiency in the processing of documents

» There are companies available in reserve

REGISTERED OFFICE, CORPORATE SEAL, AND LEGALIZATION

» It is required that the Registered Office be located in the Seychelles

» Corporate seal is optional

» The Apostille is the method usually employed for the legalization of

documents. Consular legalization are also available for some countries

REDOMICILIATION

Corporations of other jurisdictions can be expeditiously redomiciled to the Seychelles

*Information courtesy of MOSSACK FONSECA & CO.