Seychelles is an island state (about 100 islands) belonging to the countries of Africa. Part of the British Commonwealth of Nations. This leads to strict observance of the laws. The legislation is based on the English and French legal systems.
Advantages of the jurisdiction of Seychelles
Seychelles is one of the most popular offshore locations because of the many advantages of registering international companies here. Basically, IBC type of companies are registered here – international business companies.
Now more about the benefits:
- Taxation – IBC has zero tax on profits earned anywhere in the world. Seychelles is a typical tax haven.
- One of the most affordable registrations.
- One of the lowest annual fees is 100 USD.
- One director is enough, who can be both an individual and a legal entity. There are no requirements for the nationality of the director (that is, he can be a non-resident of Seychelles). It is possible not to submit data about the director and employees of the company to the registrar.
- One shareholder is enough.
- It may use a nominee director or nominee shareholder.
- There are no requirements for a secretary.
- There are no requirements for the availability of professional training and experience for the director and employees of the company.
- There are no requirements for accounting, annual report and audit.
- There are no requirements for the amount of the authorized capital, up to 1 USD.
- Shares with no par value are permitted.
- Lack of exchange controls.
- High level of confidentiality. The company only provides the registrar with its name and no information about the owners. But at your own request, you can provide more information. For example, to increase customer confidence.
- Short terms of registration. In principle, a company can be registered within one day. But it takes time to collect a package of documents, send them to the registrar. Our company 321Broker performs registration in the jurisdiction of the Seychelles in 10 days.
- Possibility to change the country of registration of the company. This allows the offshore company registered in the Seychelles to change its jurisdiction, that is, to “import” it into another country.
Jurisdictional gaps in Seychelles
The main drawback is that the offshore Seychelles has been considered by the OECD as inadequate since 2013. Therefore, registration in the Seychelles may cause distrust among some customers. Regarding a forex broker – from traders. Seychelles, as an offshore zone, is on the “black list” of many countries.
But this drawback can be leveled as follows – to hide the fact that your company is registered in the Seychelles. The scheme is:
- It is necessary to register an agent company in England, which will act on behalf of an offshore company in the Seychelles for 1% of its profits.
- This agent receives an account with a European bank where the traders’ money will be transferred.
- The received profit, minus 1% of the agent’s commission, is transferred to the company’s account in the Seychelles.
Now for the other disadvantages:
- It is prohibited to engage in banking activities, incl. trading in the forex market without a license. In principle, it is possible to work without a license if the broker’s activities are carried out entirely outside the country, and the actual office is in a country where forex activities are authorized without licensing. This option is used by the overwhelming number of brokers. In addition, to get a license, an authorized capital of at least 50 thousand USD is required.
- Bearer shares are prohibited.
- You must have an actual office in Seychelles.
- Non-proliferation of the double taxation treaty for companies like IBC.
Registration of a forex company in the jurisdiction of 321Broker companies in the Seychelles
321Broker has ten years of experience in the forex market. Our main service is the creation of a turnkey forex broker. This service includes:
- Registration of a company in the offshore jurisdiction chosen by the client, incl. in the Seychelles. If necessary, we will help you find the best jurisdiction for your requirements.
- Getting a license to work in the forex market (if necessary).
- Creation of software for a broker:
• development of a website with the necessary functions – personal accounts of traders, connection of a trading platform, connection of payment systems, etc .;
• development of a CRM company for interaction with traders.
To register a forex company in Seychelles, we need the following package of documents:
- memorandum of association;
- minutes of the first meeting of the board;
- registration certificate;
- general power of attorney;
- notarized copies of passports of the director and shareholders.
A company seal is not required for Seiche If necessary, our experts will help you create this package of documents as soon as possible.
The name of the company must contain words showing its limited liability. For example, Corporation, Limited, Incorporated, Societe Anonyme, etc. Or common abbreviations – Corp., LTD, Inc. etc.
- Ten years of experience in this field.
- Qualified staff. In combination with the first point, this guarantees our client the legal impeccability of the registration process and the shortest possible time frame.
- Confidentiality. Nobody except you and our employee will know about your offshore in the Seychelles.
- Competitive prices.