The Seychelles

The Seychelles have long been recognised as one of the world’s most popular countries for an international company, especially due to the fact that companies are completely exempt from all income taxes on earnings made outside of the Seychelles. Another great advantage is it’s still relatively inexpensive to set up a company in the Seychelles. CPIE Services have excellent connections and experience in company setup in the Seychelles.

9 advantages of Seychelles:

  • No capital requirements
  • No corporate tax
  • No capital gains tax
  • No taxes on gifts
  • No property tax
  • No withholding tax, capital extraction taxes, dividends taxes and royalty taxes
  • No publication of shareholders and directors
  • Sparse reporting requirements
  • Only territorial taxation*

*Territorial taxation means that only locally obtained income can be taxed, ergo earnings acquired externally and subsequently placed on the Seychelles will not be taxed.

Three taxes in the Seychelles

The latest information from the Seychelles details no change in the tax position of companies in the Seychelles. Provided that this is the case, we expect an increasingly strong demand.

A second, more important, argument is that today, the Seychelles is an independent country. It is no longer under British rule in the same way as many other countries previously included in the British empire. These countries suffer from a sharp tightening of regulations as a result of the EU policies that have already been implemented or are to be implemented in the near future.

The following taxes are collected in the Seychelles:

  • Import fees
  • VAT
  • Business tax

The business tax is in the Seychelles a maximum rate of 33 percent. It is important to remember, however, that overseas income – even overseas billed business income – is tax free.

Tax advantages for emigrants

The Seychelles has become quite appealing to emigrants from Europe as income from other countries are tax-free if you are a resident. Dividends and income from other countries are tax free. So people with Internet based businesses find the Seychelles to be a splendid location to operate from.

Obtaining a residence permit

You must have a residence permit if you are considering settling in the Seychelles. You are entitled to receive a residence permit if you are an approved immigrant in the country, have a family or a connection to a resident of Seychelles, or have/will contribute/contributed to the country’s growth.

If you have received a residence permit, you must live in the Seychelles for least five days each year. You must also be able to provide proof of your financial status by providing a bank guarantee, as well as bringing at least SR100,000 a year (about £5,000) into the country. The fee for the residence permit is SR150,000 (about £8,300) for a main applicant and SR75,000 for your spouse and SR25,000 for children.

Read more about the Seychelles on Wikipedia.

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