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The Companies Act 1972 prescribes for the conditions for the incorporation of Special License Companies (hereinafter referred to as CSLs), creating a regulatory framework, which espouses investor protection and low corporate tax rates. As CSLs must satisfy all disclosure requirements to be approved by the Seychelles International Business Authority, it can benefit from the favourable provisions set forth in the wide network of Seychelles Double Tax treaties.
The most salient features of the Seychelles CSL may be summarised as follows:
- Low, one-time registration fee;
- In order to protect investors and third parties, an application to operate as a CSL must accompany the Memorandum and Articles of Association, disclosing the identity and residential addresses of the beneficial owners, as well as a declaration which sets forth the names and residential addresses of the directors and company secretary;
- Full financial transparency is guaranteed through the statutory obligation to file accounts, returns and beneficial ownership information must be filed. However, these documents shall be held by the Seychelles International Business Authority and shall not be of public domain;
- An attractive corporate tax rate of just 1.5% corporate tax;
- Full exemption from withholding tax;
- Comprehensive treaty access;
- The board of directors must be composed of at least two (2) directors – no residency nor nationality restrictions – directors may be resident outside Seychelles;
- Corporate directors are not allowed to ensure full transparency;
- Liaison and monitoring of the CSL is ensured by the statutory obligation of having at least one Seychelles resident secretary.
Contact one of our officers today to incorporate a Special License Company. Simply fill in the below contact form or contact us by e-mail on enquiries@fbsseychelles.com or call on +357 2245 6363.
