Seychelles Company Incorporation Services: Seychelles Company Jurisdictions

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JURISDICTION	PANAMA US$ 585	SEYCHELLES US$ 590
Type of company	Non-resident Corporation	International Business Company
Time to incorporate	2 days	2 hours
Taxation on offshore profits	None	None
Disclosure of beneficial owner to government authorities	No	No
Standard minimum paid up capital	US$ 1	US$ 1
Standard authorised share capital	US$ 10.000	US$ 50.000
Permitted currencies of capital	Any	Any
Minimum annual franchise tax or licence fee	US$ 150	US$ 100
Shareholders	Minimum of one, corporate or individual	Minimum of one, corporate or individual
Share format	Bearer, Registered, Non-voting, Preferred	Registered, Bearer
Directors	Minimum of three, corporate or individual, no residency requirements	Minimum of one, corporate or individual, no residency requirements
Public record of directors	Yes	No
Secretary	Yes	No
Registered office	Yes	Yes
Registered agent	Yes	Yes
Location of meeting of directors	Anywhere	Anywhere
Requirement to file accounts	No	No
Annual return	No	No
Change of domicile permitted	Yes	Yes
Availability of information on Public Record	Deed of Incorporation Directors Registered Agent	Memorandum of Association Articles of Association Registered Office Registered Agent
Double tax treaties	None	None

Besides Panama and Seychelles there are several other offshore jurisdictions with excellent price/value ratio. The British Virgin Islands would be the first on the list.

BVI offshore companies (IBC's) until the end of 2005 have been incorporated under the International Business Companies Ordinance 1984 (as amended). Current BVI Business Company registration is based on BVI Business Companies Act (2005), allowing BVI IBC to stay a company incorporated in low profile jurisdiction avoiding international scandals and at the same time retaining all those advantages the classical BVI offshore company has been providing for many years.

The most important features of BVI offshore company (IBC) are as follows:

Tax exemption

A BVI Business Company is exempt from the BVI income tax, interest, dividends, rents, royalties and other amounts paid by a company. No estate, inheritance, succession or gift tax is payable with respect to any shares, debt obligations or other securities of a BVI offshore company (IBC).

Confidentiality

Confidentiality could be named the cornerstone of the BVI offshore company (IBC) concept. Information on the company beneficial owners, directors and shareholders is not part of public record. Registered Agent keeps Register of Members, Directors and all Minutes and Resolutions of the Company in complete confidentiality. The only public document is the Memorandum and Articles of Association, but regular M&A do not contain information on shareholders, directors or the beneficial owners of the BVI company.

Clear and simple structure

Only one beneficiary, one director, and one shareholder is required for BVI offshore company. Even more - all of them can be the same person, notwithstanding it is individual or corporation. There is no requirement for an annual meeting and shareholder's or director's meetings need not be held in the BVI. Meetings by telephone or other electronic means are allowed.

When incorporating a BVI offshore IBC, one should be prepared for higher incorporation expenses than in Panama or Seychelles as far as both government fees and registered agent fees in BVI are higher. For example the official registration fee to the Government for BVI IBC with standard authorized capital is USD 350 while in Seychelles it makes only USD 100.

Anyway, British Virgin Islands is the most popular jurisdiction for offshore company registration. More than 50 thousand companies were registered there last year and now their total number is close to 70 thousands.

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