Tax Information For Seychelles Company Formation
The small island of Seychelles has become a serious player in providing a safe and increasingly sophisticated offshore centre. Company formation and ongoing maintenance is among the most inexpensive in the world and coupled with excellent secrecy laws and an obvious determination to improve worldwide perception, The Seychelles offers all the usual features of a traditional tax haven at an affordable price which has seen a steady rise in Seychelles Company Formation. Of interest to many, The Seychelles also offers various Double Tax Treaties principally with far eastern territories, but more recently with countries in Africa and Europe.
The Seychelles, as an offshore financial centre, was embryonic some fifteen years ago forming hardly any new companies. However, it now incorporates between 15,000 and 20,000 new offshore companies each year. The Seychelles sits equally with Belize and The Cayman Islands at about one third of the size of BVI. This popular offshore location has seen the growth of Seychelles company formation over the last few years as more organisations are choosing this location as a preferred offshore jurisdiction.
In 2006, the Anti-Money Laundering (Amendment) Bill provided more clarity on money laundering whereby persons convicted for “criminal conduct” as defined in the Act and found to have benefitted from such conduct by the court, shall have that benefit removed from them. There are additional provisions supporting a robust approach to these cases, which has been welcomed by the international community and enabled The Seychelles to have a high reputation worldwide.
In August 2010, Seychelles signed it’s first Tax Information Exchange Agreement with The Netherlands. In March 2011, The Seychelles witnessed the signing of the Tax Information Exchange Agreement with the Nordic Alliance, which further reaffirmed Seychelles’ commitment adhering to the international standards of transparency and exchange of information. But owners of offshore companies should be reassured that information will only be divulged to other jurisdictions in extreme criminal cases.
The Seychelles Mutual Fund and Hedge Fund Act, 2008 creates an attractive and tax-efficient environment for mutual fund and hedge fund businesses, enabling Seychelles mutual funds to be administered inside or outside Seychelles.
Hedge fund licenses are restricted to knowledgeable professionals with the minimum investment being $100,000. In order to grant a license for mutual and hedge funds, The Seychelles authorities look to see if the applicants/directors are fit and proper persons and whether they have adequate resources, expertise and facilities to properly undertake the proposed activity. For more information, please visit www.siba.net. If you require any more information on setting up a Seychelles company formation, Offshore formations 247 have a dedicated team that have incorporated more than 100, 000 companies in the UK and in many other offshore jurisdictions. If you have considered setting up a Seychelles company or would like more information on other available offshore locations, then our expert company formation agents can provide full advice and assistance across 24 offshore jurisdictions.