company limited by shares; company limited by guarantee; company limited by shares and guarantee; limited partnership; special license company; protected cell company; international business company

Shelf companies permitted

Yes

Incorporation timescale for a new company

2 days

Company suffix

Limited, Corporation, Incorporated, or the related abbreviation: Ltd., Corp., Inc.

Sensitive words

“Bank“, “Building Society“, “Chamber of Commerce“, “Chartered“, “Cooperative“, “Credit Union“, “Government”, “Licensing”, “Municipal”, “Parliament”, “Police”, “Royal”, “Tribunal”, “Stock Exchange” or a word or abbreviation conveying a similar meaning. “Airline”, “Assurance”, “Bitcoin”, “Bureau de Change”, “Casino”, “Charity”, “College”, “Council”, “Foundation”, “Fund”, “Gambling”, “Gaming”, “Hospital”, “Insurance”, “Insurer”, “Lottery”, “Military”.

Cyrillic alphabet permitted in company name

No

Local registered office

Yes

Local registered agent

Yes

Information to be kept at the registered office

a register of all shareholders, directors and officers; minutes of all meetings; copies of all resolutions consented to; accounting records; a copy of the share register

Seal required, type of seal

not required

Redomiciliation (to, from) permitted

permitted

Director and secretary

Minimum number of directors

1

Residency requirements for directors

Нет

Corporate directors permitted

Yes

Directors’ meetings/frequency/location

No requirements / anywhere

Disclosure to local agent

Yes

Disclosure to public

No

Company secretary required

No

Residency requirements for a secretary

No

Qualified secretary required

No

Corporate secretary permitted

Yes

Shareholder and beneficiary

Minimum number of shareholders

1

Residency requirements for shareholders

No

Corporate shareholder permitted

Yes

Meetings/frequency/location

No requirements / anywhere

Disclosure to local agent

Yes

Disclosure to public

No

Beneficiary info disclosure to

No

Shares and share capital

Minimum authorized share capital

No requirements

Minimum issued share capital

No requirements

Minimum paid share capital

1

Authorized capital payment deadlines

No requirements

Issued capital payment deadlines

Upon issue

Standard currency

US Dollar

Standard authorized share capital

5000

Standard par value of shares

1

Shares with no par value permitted

Yes

Bearer shares permitted

No

Taxes

Personal tax

0-30%

Сorporate tax

25%

Corporate tax (in detail)

For companies, tax rates are: taxable income up to SCR 1 million - 25%; over SCR 1 million - 33%.

Capital gains tax

Regular Rate

Capital gains tax. Details

Gains on the sale of assets are taxed at the normal corporate tax rate.

VAT

7%/10%/15%

VAT. Details

GST is levied at 7% and 10% rates, 15% applies to telecommunications services.

Withholding tax

15%/15%/15%

Other taxes

Social contributions, Property taxes

Exchange control

No

Government fee

—

Stamp duty

1-12,5%.

Accounts

Requirement to prepare accounts

Yes

Requirement to file accounts

No

Publicly accessible accounts

No

Requirement to file Annual Return

Yes

Publicly accessible Annual Return

No

Audit required

No

General information shortly

Location

in the Indian Ocean, northeast of Madagascar

Total area

455 sq.km

Population

98.000 (2019)

Capital

Victoria

National currency

Seychelles rupee

Conditional reduction of currency

SCR

Against USD

11.6

Climate, average max and min t°

Tropical marine; humid; cooler season during southeast monsoon (late May to September); warmer season during northwest monsoon (March to May); avg. maximum temperature (March) +31°; avg. minimum temperature (September) +24°

Time difference from Moscow

+ 1 hour

Dialing code

+248

State language

French, English, Seyshellois Creole

Ethnic groups

mixed French, African, Indian, Chinese, and Arab

Literacy rate

94.74%

History

Remains of Arab seafarer presence dated back to the 9-10th centuries were found in Seychelles which were uninhabited then. For the following two hundred years Seychelles were a refuge for the pirates. In 1502 Vasco da Gama became the first of the European seafarers to mark the islands on the map. In 1609 the British were the first to land on the Seychelles. French began to take control starting in 1756. They established cinnamon, cloves, and vanilla plantations there. In 1794 the archipelago was occupied by the British which stimulated immigration of Indians who were engaged in trade and worked on coconut plantations. In 1814 according to the Treaty of Paris Britain assumed full control of the islands. Independence was granted in 1976 as a republic within the Commonwealth.

Credit rating

B

Government type

Republic

Executive branch

Cabinet (government) headed by the President

Legislative branch

unicameral National Assembly (34 members)

Judicial branch

Magistrates' Court, Supreme Court, Court of Appeal

Unemployment

4.3% (2020)

GDP per capita rank

176 (2019)

Corruption perceptions index rank

66 (2020)

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