The Seychelles is located off the west coast of Africa and is north east of Madagascar. It has very warm temperatures year-round and is a popular destination for holidaymakers that want to spend a week or fortnight somewhere warm. Much of the Seychelles hasn’t been developed which has benefitted its eco-system. It is also a great place for businesses and many every year register an offshore site there. Here are some of the reasons which explain why the Seychelles is a very popular location for overseas investment:
No tax on profits and income
The Seychelles is a tax haven. There are many tax havens worldwide which do charge a low rate to companies. The opposite applies in the Seychelles because no tax has to be paid on income and profits. If a business has to pay a lot of tax on an annual basis, this won’t happen if it has an offshore site in this island country. This also applies to dividends. When company directors are paid by dividends, other countries might charge a small rate of tax but this doesn’t happen in the Seychelles. This is because no tax is ever applied to dividends. Consequently, a higher dividend rate could be paid to attract investors.
Minimal capital required
For a Seychelles company formation to take place, there is no set figure on capital investment. Many offshore sites typically invest $5,000 but it can be less. As a result, an offshore site can be formed in the Seychelles with a very small amount of capital.
No specifications on a director’s nationality
Only one director has to be in place at an offshore company in the Seychelles and there are no restrictions on what nationality he/she should be. Many tax havens have set rules regarding what nationality a director can be, such as from the country which an offshore site is formed in. In the Seychelles, a director at an offshore company can have any nationality. Thanks to this rule, it can be easier to attract interest in an offshore site because directors can be from any county.
Minimal time spent on incorporation
If a business wants to have an offshore site in the Seychelles as soon as they have decided to, they can. The Seychelles company formation process doesn’t take a long time. This is because the Seychelles government has made sure that it can be done very quickly. In fact, some businesses could discover that it only takes a day to fully register an offshore site in the Seychelles before it can be used to trade with.
It can cost a lot of money to prepare a business for an audit. However, a business doesn’t have to spend any time or money on getting an offshore site ready for an audit. Therefore, its productivity won’t be disrupted because it will never be audited by the Seychelles government. As a result, it can continue making money and not be distracted on getting ready for an audit.
For more information contact Seychelles.offshoreformations247.com. They are specialist offshore formation agents, helping businesses set up in the British Virgin Islands.
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