Seychelles IBC company

incorporation with nominee director and nominee shareholder, offshore banking introduction.

Seychelles IBC's

IBCs are international business companies incorporated under the International Business Corporation Act, 1994. This act enables for the establishment of exempted offshore companies with minimal compliance requirements and complete confidentiality.

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.

Offshore company in Seychelles would offer a number of benefits for international traders and foreign investors:

  • no withholding tax on dividends;
  • no personal income tax and no other taxes connected with ownership, transfer etc.;
  • special incentives for investments;
  • 100% foreign ownership;
  • 100% reparation of capital and profits;
  • extremely fast incorporation: apostille and notarial certifications usually take no more than 1 day;
  • no public register of directors and shareholders (though this information should be kept up-to-date and filed with the Registered Agent).
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President of Seychelles led his delegation to the 28th South African Development Community (SADC) Heads of States and Government Ordinary Summit held on August 16-17 in Johannesburg, South Africa.
Cooperation talks between the Seychelles and Cyprus began on August 19 with the 1st meeting of the Permanent Cypriot-Seychelles Intergovernmental Commission.
BMI Offshore Bank (BMIO) made an announcement that its offshore banking operations in the Seychelles have been officially launched.
The Central Bank of Seychelles has announced that Seychelles' Mutual Fund legislation has been updated. Mutual Fund Act has been redrafted so that it plugged gaps in the previous mutual funds legislation.
Concluding the 8th Session of the Seychelles-Mauritius Commission on Bilateral Cooperation, the Governments of both jurisdictions agreed to support each other and strengthen cooperation regarding bilateral relations.
The Minister for Finance Danny Faure announced that Seychelles has launched the process of debt rescheduling as well as partial writing off its bilateral debt.
The Central Bank of Seychelles announced that it will introduce a new service in order to increase investment flexibility.
On May 16, 2008, new Ambassador of China to Seychelles Wang Weiguo arrived in Seychelles and presented his credentials to Seychelles President James Alex Michel in the capital Victoria.
Three representatives of a major Kuwaiti business developer, who visited President Michel at State House, are going to make huge investments into the jurisdiction.
Sheikh Tamim bin Hamad Al Thani, the Deputy Emir of Qatar, issued a decree that ratified a double taxation avoidance agreement (DTA) between Qatar and the Seychelles.
Recently, publishing Seychelles Strategy for 2017 has been announced. The mission stated in the document was doubling the GDP by 2017, which is going to be achieved by means of focusing on developing the offshore financial services industry, tourism and fisheries expansion programmes, as well as the growth of other economic sectors.
The European Commission made the 1st step towards the signing of short stay visa waiver agreements between the European Community and Seychelles.
The Development Bank of Seychelles, a joint venture between the Government of Seychelles and financial organizations, is celebrating its 30th anniversary with a series of activities in the middle of February 2008.
An International Monetary Fund staff mission issued and published the Statement at the Conclusion of the 2008 Article IV Staff Mission to Seychelles.
As a result of the invitation of His Highness Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, the Amir of the State of Kuwait, Seychelles' President James A. Michel is visiting Kuwait.
The 4-day workshop on multilateral trade negotiation and regional integration was organized by the COMESA in conjunction with the Trade Division within the Ministry of Finance of Seychelles.
In his New Year's message, Seychelles' President James Michel announced Seychelles the Constitution - the national theme for 2008.
Negotiations on a temporary agreement for an Economic Partnership Agreement between African, Caribbean and Pacific countries and the EU have been started by Barry Faure, Seychelles Ambassador to the European Union.
With a view to promote Seychelles offshore business, the Seychelles International Business Authority (SIBA) has recently sponsored two important events in offshore community - Asia Offshore Association Conference and International Tax Planning Association meeting.
On September 19, 2007, the Embassy of the Republic of Seychelles was officially opened in Beijing, People's Republic of China. The Ministry of Foreign Affairs of Seychelles announced the opening in the beginning of September.
Barclays Bank indicated the Seychelles as a country with good money laundering control in offshore banks. The strict control measures used for offshore banking branches in Seychelles are to be applied in Ghana.
Seychelles has re-entered the Southern African Development Community (SADC), which now has 15 members. Seychelles had already been SADC member previously, but it quit it.
In 2006, a 13.71% rise was recorded by the Seychelles Credit Union (SCU) on its general reserve. Capital available for immediate disbursement to clients has risen by 137%.
According to Seychelles President James Michel's expectations, the Seychelles' economy is to grow by 7.5% in 2007 as far as investment in the jurisdiction's keeps on increasing.
In the beginning of June, Russia's Federal Tax Service (FTS) has announced that Russia should sign agreements on exchange tax information with the Seychelles and other offshore jurisdictions.
May 23, Barclays Bank will open a new retail branch of Barclays Bank (Seychelles) at the Providence Industrial Zone, which was chosen by the Bank as far as over the years it has seen an increased level of business activity.
It was announced on May 1 that Emirates Hotels & Resorts has decided to support Seychelles resort - it is investing $253 million in a project in this country.
The Seychelles and Kenya have signed a new bilateral agreement to provide for increasing trade between their capitals Victoria and Nairobi.
According to the National Statistics Bureau, the Seychelles' tourism industry has showed a good start, which was marked by an increase in visitor arrivals of 15% during January, February and March of 2007.
The Embassy of Seychelles in the capital of Italy, Rome, was opened in the end of February. The establishment of the Embassy is aimed at reinforcing the diplomatic relationship between the Seychelles and Italy.
As a result of the visit of Chinese Head of State to the Seychelles in February, 2007, China and Seychelles agreed to promote pragmatic co-operation in tourism, human resources, fishery and other areas.
Members of the National Economic Planning Council of Seychelles were looking for ways to increase the economic growth of the country. Their meeting took place on January 31, 2007.
In 2006 the number of tourists in Seychelles was 140 627. According to the chief executive officer of the Seychelles Tourism Board, the country hopes to increase this record figure, with a target of 10% growth in overall arrivals.
At announcing the Appropriation Bill 2007, the principal secretary for Finance, Lekha Nair, confirmed the fact that the Seychelles had cleared all its debts to multi-lateral organizations, which improved its international profile.
After quite a hard year 2005, the Seychelles has been experiencing an impressive economic growth of 4.5% in 2006. The economic outlook of the Seychelles' situation was presented by the International Monetary Fund mission after its visit in November in the form of concluding statements.
A bilateral Double Taxation Avoidance Agreement between the Seychelles and the United Arabs Emirates signed on September 19 was approved by the United Arabs Emirates' cabinet on November 12.
According to United Nations Development Programme's (UNDP) 2006 Human Development Report, the Seychelles takes the 47th position in the rating of countries with high human development. It has been ranked 47th among 63 countries with high human development.
Seychelles cleared its credit to the World Bank, as of October 6, 2006. Now all the bank's loans to the Seychelles or the loans guaranteed by the Seychelles have been restored to accrual status. The country's arrears to the International Bank for Reconstruction and Development amounted to approximately USD 770 thousand.
Standard & Poor's Ratings Services assigned its 'B' credit rating to the Seychelles - 'B' long-term and 'B' short-term foreign currency sovereign ratings, and its 'B+' long-term and 'B' short-term local currency sovereign ratings - as well as characterized its outlook as stable.
Seychelles and the United Arabs Emirates signed a bilateral Double Taxation Avoidance Agreement in Singapore. The new agreement will strengthen the existing economic relationship between the two countries and will provide an inducement to people of both countries to draw their attention to increasing investment, trade and employment opportunities.
Recently, the Seychelles International Business Authority has sponsored Asia Offshore Association (AOA) Conference in Vietnam, and International Tax Planning Association (ITPA) meeting in Hong Kong.