Procedure of Company Registration - Seychelles | Interstatus - Group of Companies Procedure of Company Registration – Seychelles – Interstatus – Group of Companies

Seychelles companies registration process:

Director(s):

Minimum of one natural or corporate person. There is no residency qualification.

The same person may act as the director and the shareholder.

We can provide the services of local (nominee) directors in accordance with the local laws and they can manage the affairs of the company according to your instructions.

Shareholder(s):

Every company must have at least one shareholder and there is no residency qualification. We can provide nominee shareholders if full anonymity is required by the company owner.

Secretary:

A secretary is not mandatory.

If needed, we can provide the services of a physical secretary. Please contact our representative for detailed information on virtual office services.

Registered office:

Seychelles companies must have a registered office by Law.

Share capital:

Generally, the share capital is $100,000 made up of 100,000 shares with the nominal value of $1. Shares without par value are permitted.

Following amendments to the Law enacted in late 2013 the issue of bearer shares is no longer available.

The amount of share capital does not effect the annual licence fee (levy).

There is no requirement to pay up the shares upon registration. The shareholders may pay shares as they think fit (in reality the shares often remain unpaid).

Registration period:

Within 1 week. Shelf companies are available.

Accounting and auditing:

There are no requirements for financial statements or statutory audits.

Amendments to the Law adopted in late 2013 in relation to the operation of offshore companies provide the following regulations governing the maintenance and keeping of corporate and financial documentation:

1) Seychelles companies must maintain accounting and keep primary accounting documentation related to its financial operations and such documentation should:

  • provide an opportunity to obtain accurate assessment of the financial position of the company at any time;
  • facilitate preparation of financial statements of the company if needed;
  • be adequate to verify and explain specific transactions including contracts, invoices and receipts;
  • be kept for at least 7 years in safety and constant accessibility.

2) Primary accounting documents may be kept:

  • at the registered office of the company in The Seychelles;
  • at any other place (even abroad) thought fit by the directors, the address of which must be communicated in writing to the registered agent; any change of such address shall be notified to the registered agent within 14 days.

The above amendments provide for obligations to submit an annual declaration to the registered agent (by 31st December) to confirm that:

  • the keeping of all accounting documentation complies with the effective Law and such documentation can be made available through the registered agent, if needed;
  • the complete and accurate register of shareholders is to be kept and made available at the registered office of the company.

The penalty charged to a company for any breach of filing rules concerning accounting documentation is $25 per day and the director of the company in breach of the rules is also charged $25 per day.

If the requested financial document is not presented within 7 days, the company will be imposed with a one-off penalty of $100 and then $25 for each additional day of the breach.

If the breach of the rules is not amended within 3 months after the last day on which the documents had to be presented and the penalty paid, the company may be struck off from the Registry.

Confidentiality:

The registration of an offshore company can only be carried out through the special registrars and the agent. Information on the beneficiaries, shareholders and directors will not be disclosed, this information is accessible only to the registration agent. Information provided in the Incorporation Certificate and the Memorandum of Association with no personal data is not regarded as secret.