Forming Companies

Information about other offshore jurisdiction is also available: [  Please contact us for detail  ]

• About Seychelles in General
• Restriction in Seychelles Companies
• Advantages of Seychelles Companies
• Setup Requirements
• Setup Procedure
  1. Tailor made company
  2. Ready made company
• Setup Cost
• Maintenance Cost
• Jurisdictional Profile

 About Seychelles in General

The Seychelles (comprising 117 islands) is located in the Indian Ocean between 4 and 5 degrees south of the equator.

English, French and Creole

Modelled on English & French law, with "offshore" and corporate laws heavily statute and Common Law based

Currency : Seychelles rupee (approx USD 1 : SCR 8)

Time Zone : GMT +4

The Seychelles economy is primarily based on tourism, commercial fishing and a thriving offshore financial services industry. Recent years have seen substantial expansion in the financial services sector and the hotel and tourism sector (Hilton, Banyan Tree, Four Seasons, Shangri-la, Le Meridien, etc).

 Restriction in Seychelles Companies

IBC's cannot carry on business within the Seychelles and cannot undertake the business of banking, insurance, assurance, reinsurance, fund management, asset management or any other activity that would suggest an association with the banking and insurance industries.
A Seychelles IBC cannot sell its shares to the public or own real estate.

The following are not construed as carrying on any business in the Seychelles £º

• Maintaining records and a bank account in Seychelles;
• Using the services of a professional firm;
• Holding meetings of shareholders and directors;
• Holding a lease of property for use as an office;
• Holding shares or other securities in another Seychelles company;
• The memorandum of association must contain the name and address of the Seychelles registered agent.

 Advantages of Seychelles Companies

• No taxation of corporate income in the Seychelles and No filing of annual returns is required;
• Only 1 shareholder and 1 director is required;
• Corporate shareholder and director is allowed;
• Minimum issued capital is either one share of no par value or one share of par value;
• Minimum paid up share capital required is US$1 ;
• No mandatory requirement in preparing financial statements or appointing auditors;

 Setup Requirements

• Minimum 1 shareholder and director are required. Shareholder and director can be the same person;
• No restriction in nationality;
• Minimum US$1 issued and allotted share capital.
• Registered address in the offshore country (included in package service and in annual renewal fee).

 Setup Procedure

1. Tailor made company
2. Ready made company ( Shelf Company )

 1. Tailor made company

 2. Ready made company

• Client to choose preferred companies from [ Seychelles Ready made (Shelf) company list ]
• Client should pass following information to AsiaBS for document preparation :
  • Passport / ID copy and address of at least 1shareholder and 1 director.
  • At least 3 intended company names in order of preference.
  • 50% fee as downpayment.
• Once payment is received by AsiaBS, a copy of Certificate of Incorporation will be available to client to confirm ownership of the company;
• AsiaBS will send documents to client for signature.
• Client should pass the signed documents back to AsiaBS for processing. Usually, sending by fax is sufficient.

When Certificate of Incorporation is available to client, client can use the company to enter into business transaction, even though some registration process need to handle in following days.

There are 2 possible ways for client to send us information :

• Client should settle remaining service fees.
• AsiaBS will pass processed documents and company kit back to client after remaining balance payment settled.

Material available to client after company is formed :

• Company kit - signature chop, stainless steel seal, printed M&A etc.
• Certificate of Incorporation
• Copies of shareholders, directors etc registration documents.

If client is unable to collect the original documents in our office. We can arrange to forward the documents to client by courier. Please provide mailing address for courier fee quotation.

AsiaBS will remind client to renew the company licence each year. Therefore, keeping corresponding method update with us is important.

 Setup Cost

 Maintenance Cost

The Annual Government Licence renewal fee is due on the day before the annual anniversary of the company's incorporation date.

• Within 90 days of renewal date = US$600 + US$10
• Over 90 days of renewal date = US$600 + US$50

Company striking off occurs each year only on January - 1 where a company fails to pay its licence fee (and penalties) on or before the next ensuing December - 16 provided this date falls not less than an aggregate of 180 days after the company's licence fee due date.

As long as the Seychelles company is not carrying on business in Hong Kong, there is no duty of reporting or registration to Hong Kong government departments.

 Key Corporate Features