Republic of Seychelles is a heavenly set of 155 small islands, a population of just 82,000 inhabitants and beauty which can mesmerize anyone.
Where Is Seychelles? It lies on the eastern coast of Africa in the Indian Ocean. Its capital is Victoria and is compromised of 25 administrative districts.
It gained independence from Britain in 1976 and after a turbulent political start, it focused on tourism and so developed slowly compared to the Asian tigers. Recently growth has quickened with the government's focus on Seychelles offshore company formation and related offshore businesses.
Seychelles offshore companies are being encouraged and the international business authorities are providing a hassle free business environment. It's tax is zero!
There are sometimes apprehensions regarding the stigma attached to offshore companies as a vehicle for criminals and for money laundering.Criminals use domestic companies too. Does that make it wrong to incorporate in your own country?
Offshore tax havens have for decades been targeted by powerful countries with high taxes. They would like everyone to believe that offshore companies are only used by fraudsters, terrorists and crooks, instead of looking into their own back yards. i.e. at their own policies of high taxes and high spending! Can the US or EU say that with all their vaunted 'regulations' and 'well trained' financial crime fighters, that they do not have cases of tax evasion, money laundering or other crime?
Of course, while there is always a rotten apple in any box, especially, if the box is large enough, 99% of all business transacted through offshore companies is completely legitimate. In fact, due to the inherent need to maintain their reputations and in order to withstand international pressure, most leading tax haven countries have intensive systems to detect and prevent financial crime and money laundering.
You might think that if you tell anyone about incorporating offshore, people will look at you accusingly!
This is another myth. Tax havens and offshore companies have been around for many decades. Tens of thousands of new offshore companies are incorporated worldwide every year. Millions of International Business Companies are in operation all over the globe. Offshore companies are owned and operated by all the big Fortune 500 multinational corporations.
Today, it`s actually a necessity: offshore operations may decrease your overall overhead on tax and management costs, so you become more competitive. True for big corporations and startups, alike.
Offshore is not something on the fringes of the business society, rather, it`s right in the middle. Some estimates say that more than half of all the money in the world, just imagine how much it is, actually resides in offshore accounts at any moment in time.
Much international trade in goods, commodities and services is predominantly transacted through low tax or zero tax companies.
Investment funds are routinely registered in tax havens, so that they are not burdened with excessive tax and can provide most competitive returns to their investors.
A variety of offshore holding companies help businesses invest abroad with a minimum loss on withholding tax. Much of the global ebusiness resides offshore, a marriage in heaven.
Property is routinely bought in offshore companies. See property seychelles for possibilities in Seychelles.
The list can go and on. To understand this trend, just think of money as water. It will always flow from high tax to low tax, and will always find it`s way through!
This island is situated at a very strategic location between Africa and India. Plus it has a good communication infrastructure.
The Seychelles offshore company formation authorities have successfully incorporated around 30,000 offshore companies in only a few short years.
The simplest type of Seychelles offshore companies are officially called International Business Companies (IBCs).
Realizing the importance of making Seychelles offshore company formation process as easy for the investor as possible, the government formed Seychelles International Business Authority (SIBA) in 1995 for this purpose.
The main purpose of SIBA was to streamline business seychelles and the incorporation process and make it investor friendly. SIBA has since then taken many important steps which are highlighted below:
The investor doesn't have to wait for days and weeks to get a company registered. You don't have to stand in queues; the whole process will just take few hours provided your documentation is complete.
Its formation costs have been greatly reduced to few hundred dollars.Privacy and confidentiality of the investor is maintained at all costs.
This offshore has been made a tax free haven! NO TAXES are levied on any income or profit. This has really boosted company formation Seychelles process.
Just a small fixed amount needs to be paid every year for the license renewal of offshore companies.
Import and export process has been made really easy and no taxes are levied on it as well.
Only one director and shareholder is required for each company.No requirement to disclose the real owner of beneficiary of the offshore company.Companies don't have to submit any financial records or audits with any governmental authorities.
Restrictions on the import of foreign labor and minimal capital have been lifted.
Provision of the facility to buy offshore companies for sale, for the ease of investors. This means that instead of even going through the process of Seychelles offshore company formation yourself, you can just buy an existing company for which all required paperwork and registration has been done.
Offshore company incorporation in Seychelles is no doubt one of the best things that can happen to an investor. Especially for those who are planning to expand their business globally and don't want any hassles.