Offshore Seychelles is a term that refers to a kind of arrangement that help escape the tax and protect the assets. The international Business Companies Act 1994 is the governing legislation for the formation of the versatile and most widely sought type of company, through which legitimate international business, including trade; commerce and investment activities are conducted.
Seychelles is one of the most coveted places that offer the establishment of such companies. Following are some of the reasons why Seychelles is a hot favourite destination to set up an offshore company:
Accommodating & sensitive to business needs Political stability High level of computerisation in government & private sector Major technology providers represented 20% population with mobile phone (0.2 per capita) Apart from all these advantages, Seychelles enjoys calamity free environment. It also has most advanced telecommunication facilities, transport facilities as well as modern banking facilities. It also promises advanced and luxurious life style.
All these features make Seychelles an attractive destination for high net worth business persons. Many Lawyer & solicitor firms has extensive experience and sound knowledge of setting up Seychelles offshore.
Advantages of Offshore Seychelles:
100% foreign ownership 100% reparation of capital and profits No withholding tax on dividends No personal income tax & no other taxes connected with offshore IBC in Seychelles ownership, transfer etc... Special incentives for investments in Export Oriented Unit (EOU) and Special Growth Area (SGA).
However, there are certain restrictions for the operation of Offshore Seychelles. Seychelles offshore cannot conduct business in the jurisdiction; they cannot be formed for the purchase of real estate or land in the Seychelles. They can also not be used for banking, insurance or registered agency business.
Inspite of these restrictions, a company is free to have a local bank account, lease property in the Seychelles, and own a vessel or an aircraft in the jurisdiction. Also, a Seychelles resident can own shares in the company.
If you think that you need to set up a Seychelles offshore, Many solicitor firms can assist you and guide you in the proper direction.
Author: John Smit
Pindoria Solicitors has not written this article and hence takes no responsibility or liability for it. Please contact the author directly to know more about offshore Seychelles and Seychelles banks.
.
