Seychelles

The Seychelles is a group of 115 islands located in the Indian Ocean to the north of Madagascar. Seychelles is home to numerous beaches, coral reefs and nature reserves. Mahé, the main island with its capital Victoria, is a hub for visiting the other islands.

Political Structure

Politics of Seychelles takes place in a framework of a presidential republic, whereby the President of Seychelles is both head of state and head of government. The President of Seychelles is elected by popular vote every five years.

Economy

The Seychelles economic growth has been led by the tourist sector, which employs about 30% of the labour force and provides more than 70% of hard currency earnings, and by tuna fishing. In recent years, the government has encouraged foreign investment to upgrade hotels and other services.

The rapidly expanding financial sector with the establishment of offshore structures and foreign investments has marked the economy in the Seychelles. The Seychelles International Airport is one of the finest in the Indian Ocean region. In addition to the national flag carrier, Air Seychelles, the airport is served by a few other airlines.

Population

With a population of 97,539, Seychelles has the smallest population of any African state. About 90% of the Seychellois people live on the island of Mahé, while most of the rest live on Praslin and La Digue. Most Seychellois are descendants of early French settlers and East Africans who arrived in the 19th century. Tamils, along with other South Indians and Chinese (1.1% of the population) account for the other permanent inhabitants.

Language

The official languages are English, French and Creole. Creole is spoken widely. English is the main language of business

Standard Currency

Seychellois Rupee (SCR)

Time Zone

GMT+4

Exchange Control

None.

Type of Law

Base on English common law and French Civil law.

Confidentiality

Seychelles offers a high level of anonymity and privacy.

Type of Company for International Trade and Investment

International Business Companies

Corporate Features

General
  • Type of Company
    IBC
  • Hybrid
    Common
  • Shelf Company Availability
    Yes
  • Time to Form
    2 days
  • Corporate Taxation
    Nil
  • Double Taxation Treaty Access
    No
Share Capital or Equivalent
  • Standard currency
    US$
  • Permitted currencies
    Any except Seychellois Rupee (SCR)
  • Standard Authorized Capital / Shares
    US$1,000,000
Directors
  • Minimum number
    One
  • Local required
    No
  • Publicly accessible records
    No
  • Location of meetings
    Anywhere
Shareholders
  • Minimum number
    One
  • Publicly accessible records
    No
  • Requirement to file register of Directors for registration by registrar
    Yes
Company Secretary
  • Required
    No
  • Local or qualified
    No
Accounts
  • Requirements to prepare
    Yes
  • Audit requirements
    No
  • Requirements to file accounts
    No
  • Publicly accessible accounts
    No
Required Documents in English Language
  • Notarised/certified copy of valid passport
    Yes
  • Notarised/certified or original proof of address (issued within the last 3 months) in English or translated into English
    Yes
  • Original bank statements from the last three months
    Yes
  • Original bank reference letter
    Yes
  • Curriculum Vitae
    Yes
  • Business plan
    Yes

Trading Restrictions
A Seychelles IBC cannot exercise any banking, insurance, fund or trust management, investment advice activities. Moreover, a Seychelles IBC cannot have an office in the Seychelles. A Seychelles IBC cannot trade or own real estate within the Seychelles.