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Seychelles Company Formation Frequently asked questions (FAQs)

1. What types of company will be set up?
International Business Companies are the companies incorporated under International Companies Act 2016 (Seychelles). The type of companies coulbe Private Limited by Shares (Pte Ltd) or Limited Liability Company (LLC).
2. Time frame and quotation of the incorporation process?

 The incorporation process takes only 1-2 days since we receive all required documents and payment from your side.

What is the Requirement for the Incorporation Process?
The requirement is simple. You just need to submit 2 types of documents:
  • Scan in Color of Passport
  • Scan of Address Proof in English (Utility Bill, Bank Statement,...)
 

 

3. What is the cost of registering an IBC?
The fee for the registration of an IBC having an authorised share capital up to US$1,000, 000 is US$250 Government fee plus US$439 our professional service fee. Total US$689
4. What are the annual renewal fees?

US$589 including all service fee. The renewal date is the anniversary date of your company.

5. Seychelles Offshore Company Formation - How it works?

How to Setup your Seychelles Offshore Company?

Step 1 Seychelles Offshore Company Formation, initially Our Relationship Managers team will ask you have to provide the detailed information of the Shareholder/Director's names and information. You can select level of services you need, normal with 2 working days or a working day in urgent case. Furthermore, give the proposal company names so that we can check the eligibility of company name in the Registrar of International Business Companies system.

Step 2 You settle the payment for Our Service fee and official Seychelles Government Fee required. We accept payment by Credit/Debit Card Visa Visa Discover American , Paypal Paypal or Wire Transfer to our HSBC bank account HSBC bank account (Payment Guidelines).

Step 3 After collecting full information from you, Offshore Company Corp will send you a digital version (Certificate of Incorporation, Register of Shareholder/Directors, Share Certificate, Memorandum of Association and Articles etc.) via email. Full Seychelles Offshore Company kit will courier to your resident address by express (TNT, DHL or UPS etc.).

You can open bank account for your company in European, Hong Kong, Singapore or other jurisdictions supported offshore bank accounts! You are freedom international money transfer under your Seychelles Offshore Company.

Your Seychelles Company formation completed, ready to do international business!

6. What happens if I don't pay the annual IBC renewal fees?
Non-payment of annual renewal fees will make the offshore company lose its status of good standing, the company will also incur severe late penalties and legal consequences. At any time after the due-date of the Government fees, the Registrar of Companies is entitled to strike-off the company from the Registry for non-payment of fees, after giving the Company a 30-day notice.
7. Are there any other taxes payable?
Are there any other taxes payable?
8. Are bearer shares allowed, and are corporate directors allowed?
No. Bearer Shares are not allowed.. Corporate directors are allowed.
9. Can an IBC have only one director and one shareholder?
Yes.
10. What about the filing of accounts?
No accounts need to be filed but accounting records must be maintained.
11. What confidentiality is granted to an IBC?
The information of Beneficial Owner of the IBC must be disclosed to The Registrar but it definitely not be published. There is no person can find your confidential information.
12. Can I set up a company with the Nominee Director and Shareholder?
Yes. Absolutely!
13. Where should the offshore company open a bank account?

Nowadays in the globalized world the exact location of a bank is less important than the choice of the bank itself. When choosing a bank, a number of questions should be considered.

  • What are the services available at the particular bank? 
  • What are the costs? 
  • Will your company be able to maintain the minimum required balance or satisfy any other financial requirements for the account? 
  • What are the client acceptance prerequisites at the bank? 
  • Are there any requirements of the bank that may prevent your company from becoming its client? 
  • Is the bank in Your time zone or the time zone of your clients to be able to contact it at the time you need? 
  • Do they speak Your language? 
  • What is the quality of work ethics in the particular bank or in the jurisdiction of the bank in general as this may result in good service, quick and accurate work or, on the contrary, delays, mistakes and poor attitude. 

All in all, there is no single answer as to the most appropriate location of an offshore bank account – it is always a compromise between your financial abilities, convenience and reliability.

14. What is the timeframe for an offshore bank account opening?

The time actually starts ticking after the completed application file, which includes quite a lot of documents and information from the beneficial owner, has reached the bank. We can not really influence the time taken by the client to fill the forms and to obtain the few due diligence documents. From the moment the file is with the bank, it can be from a couple of days to a couple of months until the bank comes up with a letter of acceptance – or, sometimes, rejection. In some cases the bankers would ask for some clarifications or additional documents from the new client. Then, obviously, the timer would stop until such information or document is furnished.

All in all, it is practically impossible to determine an exact timeframe. We would certainly share our previous experience with any particular bank, and sometimes this information gives something to go by

15. If I use a nominee director, how can I control and operate the bank account?

The relationship between the beneficial owner and the professional director is regulated by the standard Terms & Conditions of business and, if necessary, by a more specific client-manager agreement. Such agreement could determine, in particular the method of passing any instructions and information from the client to the manager and the fact that the account signatory shall never act on his own accord without express consent by the beneficial owner. As all the instructions to the Director come exclusively from you and the Director will stay passive in the absence of such instructions, you are actually the exclusive person controlling the account.

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