Seychelles CSL

Advantages

A Special License Company in Seychelles, as well as the Double Taxation Agreement between Seychelles and China, provides significant scope to reduce tax exposure for Chinese businesses.

Seychelles’ increasing network of double taxation avoidance agreements have been signed with the following countries: China; Thailand; Indonesia; Malaysia; Cyprus; South Africa; Botswana; Mauritius; Oman and more. IBCs do not have access to these.

The fiscal exemptions granted to a CSL, including duty exemptions for imported equipment required for its operations and Social Security tax payments, are guaranteed to be in force for the following 10 years after incorporation, but these privileges will continue to remain in force thereafter unless otherwise stated by written law.

CSLs attract less global scrutiny and suspicion, due to its formal recognition as a tax resident of Seychelles, which would make it easier to conduct business abroad.

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Disadvantages

Compared to International Business Companies in Seychelles, CSLs are more expensive to establish and maintain, particularly with higher administration and government fees, due to their more complex nature.

Unlike and IBC, CSLs are subject to obligations to prepare and file accounts and returns.

CSLs must pay a corporate tax rate of 1.5%, whereas an IBC is not required to pay.

A local company secretary is required, as opposed to no prerequisite for IBCs to hire a company secretary.

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Requirements

Company Name:

Any language can be used, although a French or English translation must be included. The name must not be similar or identical to existing incorporated companies.

Directors:

A Seychelles CSL requires at least 2 directors who can be of any residence and nationality. However, if the CSL has the intention of using the Seychelles Double Taxation Avoidance Agreement, then there must be a majority of directors who are residents of Seychelles. Information on directors is made publicly accessible. Directors may hold meetings anywhere in the world.

Shareholders:

A Seychelles CSL must have a minimum of 2 shareholders; corporate shareholders are permissible and shareholders are not required to be local. Shareholders may hold meetings anywhere. Details of shareholders are required to be registered with the Seychelles Government Registry; these are not accessible to the public.

Company Secretary:

A local, licensed company secretary in a Seychelles CSL is necessary.

Registered Address:

A CSL needs to have a registered office in Seychelles.

Minimum Capital Requirements:

The share capital can be in any convertible currency. They should be Registered shares, rather than Bearer shares, and at least 10% of the authorized share capital must be issued and paid.

Annual Reports:

A Seychelles CSL have preparation and audit requirements for both annual audited accounts, as well as annual company returns. These documents are not made publicly accessible.

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Basic Package

Certificate of Incorporation

Articles of Association

Memorandum of Association

Share Certificates

Certificate of Special License

Certificate of Tax Residency

Services Included

Conducting a company name search

Provision of registered office address (for 1 year)

Government fees

Preparing and filing annual returns

Reviewing client documentation and application materials

Preparing incorporation documents

Monitoring the entire incorporation process and keeping clients updated

Seychelles CSL

Advantages

Disadvantages

Requirements

Basic Package

Services Included

Additional services

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