Seychelles

Seychelles is yet another island country,only this time it found in the Indian Ocean. As with every island country most of its gross domestic product comes from the export of goods, mostly salmon, and also from tourism. The population of Seychelles is very mixed. Having British sailors, French settlers, Africans, and traders from the Middle East. The most widely used language is creole, but french and English are also the official languages in the country. For business English is mostly used.


Company types possible for incorporation in Seychelles:

IBC (International business company)
CSL (Seychelles companies special licenses)
Trusts (Seychelles International Trust)

IBC

International business company are the most popular company types available in Seychelles. Quite similar to the British Virgin island IBC, but with few advantages and few disadvantages. Also a company in Seychelles is only available as an IBC company if it qualifies with these criteria:

• Non if its business is carried out with in Seychelles
• The company may not own real estate in Seychelles
• Company's form of business may not be associated with banking, insurance or a registered agent without a special license.

Seychelles are also quite unique with the fact that there is no limit on the maximum authorized capital of the company.

CSL

A quite new form of a business type in Seychelles. The acct that allowed these kinds of companies to be created took place in 2003 and was called companies (special licenses) act. CSL type of companies cost a bit more that IBC to incorporate in the Seychelles, but they also offer greater advantages than the IBC. More detailed article on CSL - here.

Trust

Similar to other offshore trusts. The disallowed assets to be added to an offshore trust in Seychelles are:

• Real estate within Seychelles
• Shares, debentures, interest that are a property of a company not registered within Seychelles
• International business company or an international trust not registered within Seychelles

The trustee for a trust registered Seychelles must be a licensed trustee in Seychelles. The minimum number of trustees in one.

The beneficiary of the trust must be identifiable and ascertainable at the time the trust is created. Beneficiaries may be added to the trust at any time by the trustee. A trustee may be a beneficiary of the trust at ant time as long as the trustee is not the sole beneficiary of the trust.