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Seychelles

Seychelles comprises a group of 115 of the most scenic islands in the world situated a thousand miles off the east coast of Africa, 4 degrees south of the equator. It is ideally situated between the major trade and manufacturing channels of Asia, Europe and Africa, allowing Seychelles to offer a unique platform for investment into these key global areas.

As an independent democratic republic, with a stable political environment Seychelles benefits from government policies which actively foster local and foreign investment.

Seychelles offers one of the most attractive total packages in the offshore world with its available non-resident tax free and tax resident low tax structures; growing network of tax treaties used for investment into other countries; low government fees; and international trade zone all created and supported by one of the most favorable legal and regulatory regimes in the offshore world.

Legal and Regulatory Features:

• common Law/Civil Law hybrid
• low government licensing fees ($100 for IBC/$1000 for CSL)
• tax free International Business Companies (IBC)
• 1.5% tax resident Special License Companies (CSL)
• modern legislation allowing for and regulating offshore companies, offshore banking, mutual funds, hedge funds, protected cell companies, and limited partnerships
• growing network of Double Taxation Avoidance treaties: China, Cyprus, UAE, Malaysia, Indonesia, South Africa, Mauritius, Vietnam, Thailand, Botswana and Oman. Qatar, Belgium and Zimbabwe are signed awaiting ratification
• 24 hour or less incorporating time (IBC)
• government commitment to establishing Seychelles as a major international offshore financial center

Seychelles’ modern banking facilities are offered through international banks including Barclays Bank PLC, Nouvobanq (affiliated to Standard Chartered Bank), Mauritius Commercial Bank, Bank of Baroda and Habib Bank. All major credit cards are represented through the currently established commercial banks. Port Victoria, the most efficient and deepest port in the region, provides trans-shipment to regional and international markets as well as handling of break-bulk and containerised international cargo. Seychelles also has the added benefit of a strategic geographic location outside of the cyclone belt.

In addition, Seychelles offers the following advantages to the discerning investor:

• excellent sea and air links with Europe, USA, Asia and Africa
• favourable time zone (+ 4 GMT ) allowing for overlap with major financial centres from Western Europe to the Far East
• reliable telecommunications infrastructure that is geared toward business and continually enhanced
• residence permit and work permit are available for foreign investors
• british styled educational system, private schools and peaceful living environment for families

Seychelles continues to grow as an offshore financial center. The efficiency and knowledge of the offshore sector, broad array of products and services and commitment to continued innovation makes Seychelles the premier choice in the offshore world.

Advantages of Seychelles

Seychelles is an established and reputable offshore jurisdiction offering international businessmen and investors a range of sophisticated offshore products that meet the increasingly demanding criteria of flexibility as well as adaptability. The regulatory environment has been carefully developed, in a public/private partnership, to adhere to international obligations of global best practices, which at the same time take into account the expectations and demands of the offshore market. Other key reasons for choosing Seychelles as an International Financial Centre include:

• no Exchange Controls
• fiscal Incentives
• expanding Double Taxation Avoidance Treaty Network
• a skilled, professional and bilingual population
• modern communication network
• reputable jurisdiction
• sophisticated, modern & flexible offshore structures

This is complemented by the business approach and strategy adopted by government with the further development of the offshore industry. Key elements are: (i) flexibility; (ii) adaptability; (iii) security; (iv) confidentiality; (v) professional services through automation, training and regulations; and (vi) networking.

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