How to set up a new company in Seychelles?

Accordingly, setting up an entity in Seychelles is a simple and highly regimented process under the Seychelles International Business Companies Act. Seychelles is attractive in terms of business setup since its nature of regulatory requirements and compliance procedures is straightforward. Here's a broad overview of how to set up a new company in Seychelles:.

Steps to Set Up a New Company in Seychelles

1. Company Name: The very first prerequisite is to select a unique name for the proposed company. The Seychelles Registrar of Companies requires that names not be identical or too similar to existing ones. It makes sense to check the availability of the name at the very outset to avoid any delay in incorporation.
2. Appoint Directors and Shareholders: Any Seychelles company must appoint at least one director and one shareholder. They can be individuals or corporate entities, and no residency requirement applies for them, therefore allowing flexibility in the structure of the company.
3. Filing of the Documents to be Obtained: The documents needed for incorporation shall be filed. A Memorandum and Articles of Association showing the company's activities and its rules and regulations are contained therein. All the necessary documents shall be prepared and filed with the Seychelles Registrar of Companies for approval.
4. Registration of Local Address: By law, it is mandatory for a company in Seychelles to have a registered local address, which would serve as an address for receiving all legal and official correspondences. This address should be available as long as the company exists.
5. Annual Compliance Obligations: Seychelles companies are obliged to fulfill all the obligations that arise annually once the companies are registered. Such includes filing an annual return and also obtaining proper records for the company to meet the requirements of the laws and regulations in that country.

Summary

To set up a Seychelles incorporation, there needs to be a name chosen for the company, followed by the appointment of at least one director and shareholder. Documents of necessity must then be filed, and there are various local requirements that need to be adhered to. It will be much easier and ensure that everything is done with the help of professional legal and company incorporation services, those well-versed in Seychelles laws.