Why Seychelles? We give you 5 reasons.
1. Competitive Advantage for Your Business
Seychelles employs a territorial tax system, meaning that income earned outside its jurisdiction is non-taxable. This zero-taxation policy applies to business transaction stamp duties, interest, and capital gains as well.
2. Global Adaptability for Your Business
International businesses find setting up shop in Seychelles ideal owing to a number of features that facilitate their operational needs, in order to meet a rapidly evolving and complex global business landscape. These include being able to converse in English as one of the official languages, a GMT+4 time zone that is convenient for businesses based in Asia, Europe, and the UK, and flexible incorporation regulations designed to accommodate a wide variety of business structures.
3. Stable and Internationally Recognised Environment for your Business
As an independent republic with membership in key global organisations such as the United Nations, African Union, and the Commonwealth, Seychelles is a popular offshore financial centre for businesses with a view towards international expansion. Since becoming a democracy in 1992, Seychelles has enjoyed political stability with no structural breaks in policy.
4. Fast and Simple Process to Start your Business
Seychelles’ incorporation processes are among the fastest in the world, with same-day incorporations possible. Also, only one entity or person is needed to fulfil the roles of director and shareholder during registration – with no nationality requirements. There is also no requirement to appoint a corporate secretary as well as paid-up capital.
5. Confidentiality for your Business
With no legal requirement to keep on public record lists of directors and shareholders, Seychelles affords good levels of privacy in an age where concerns about personal information protection are increasingly taking centrestage. The independence of the jurisdiction also translates to not having to share information with external organisations or other countries.
Seychelles’ economy is heavily reliant on tourism, as with a number of offshore financial centres. Along with the gradual easing of COVID-19 restrictions and resumption of tourism-related activities around the world, the republic’s GDP is expected to grow 4%. This is helped by Seychelles’ good infrastructural standing within the continent – with the highest per capita GDP in Africa at 12,300 USD in 2020, international classification as an upper-middle income country, and the highest literacy rate and the best healthcare system in the East Africa region at present. Politically, a smooth leadership transition after an opposition win in the October 2020 elections will likely bolster investor confidence, auguring well for the country’s medium-term economic outlook.
Key Industries
- Tourism
- Fishing
What’s required? We give you a brief overview.
Jenga BCG provides the full suite of corporate secretarial and accounting services to meet your business needs be it a stand-alone business or subsidiary. Since 2017, Jenga BCG has already successfully empowered over 1000 businesses worldwide with our team of professionals armed with deep industry knowledge and connections via our regional partners.
1 - No direct taxes, but all offshore companies are required to pay an annual licensing fee directly to the government.
2 - For example, Singapore and Bermuda allow the change of domicile of a Seychelles company to be under their jurisdiction.