| IBC | Special License company | Seychelles International Trade Zone | LLC | Branch Office | Rep Office | |
|---|---|---|---|---|---|---|
| Other Entity Name | Offshore Company | CSL | International Trade | Proprietary Company | Branch | Representative Office |
| Company Setup Time | 5 days | 15 days | 15 days | 15 days | 15 days | 15 days |
| Bank Account Opening | 10 days | 10 days | 10 days | 10 days | 10 days | 10 days |
| Government Grants Available | No | Yes | Yes | Yes | No | No |
| Government Contracts Bidding | No | Yes | Yes | Yes | No | No |
| Legal Liability | Yes | Yes | Yes | Yes | No | No |
| Client Required to Travel | No | No | No | No | No | No |
| Inquiry | Inquiry | Inquiry | Inquiry | Inquiry | Inquiry |
Corporate Structure Explained
Seychelles International Business Company (IBC or offshore company)
- Offshore companies in Seychelles are only permitted to operate and sign agreements with non-Seychelles-based businesses. They require a share capital of US$ 1, one shareholder and one director who can be the same person who is not required to reside in the country and can be of any nationality.
- It will be necessary to provide a legal registered address in the country and it is necessary to appoint a local agent who must have an international business license permitted by the local administration.
- These entities are exempted from corporate tax, annual returns, and audit requirements. They are not required to submit financial statements. However, it is mandatory for them to prepare financial statements and keep them in the office premises.
Seychelles Special License Company (CSL Company)
- This entity is formed as a normal domestic business entity and is subsequently granted a special license by the local administration. This entity must be formed with a share capital of at least US$ 1 and at least 2 shareholders. Who can be either corporate entities or foreign non-residents. Two directors and one company secretary are also required. The company secretary is the only individual who must be a resident in the country.
- This business entity is eligible for tax filings as it is considered to be a legal entity. Various tax benefits are also available for these business entities. The corporate tax rate for these companies is 1.5% of earnings from outside the country. Access to DTA treaties is also available. The directors of this entity must be the residents of Seychelles. Every year, they are required to file an annual return and an audited financial statement.
Limited Liability Company (Proprietary Company)
- A limited liability company in Seychelles can be formed with at least US$ 1 as the minimum paid-up capital and two shareholders. These can be either entities or non-residents. Its also required two directors and a company secretary who must be a resident of Seychelles.
- They are authorized to trade in all kinds of sectors. They can trade in regulated industries with residents and non-residents as long as the relevant license is granted. They are eligible for 33% of corporate tax.
Seychelles Branch Office
- A branch office must appoint two local agents. The parent company defines the scope of the representative office which must have an independent management team. This entity is also required to have a corporate bank account. The parent company bears unlimited liability for the debt of the branch.