The Seychelles jurisdiction
The Republic of Seychelles is an insular cluster, consisting of 115 islands, and it’s situated in the Indian Ocean. It enjoys a prosperous economy and a strategic location in the crossroads of Europe, Asia and Africa, exactly like the Cyprus jurisdiction.
Company formation in Seychelles is fast and simple, while the jurisdiction offers full tax exemption. Thus, all the International (offshore) companies are exempted from the Seychelles foreign income tax and withholding tax. Additionally, there is no minimum capital restriction, no need to maintain banking accounts or submit tax reporting.
Tax exemption in Seychelles
According to the International Business Companies Act, an International (offshore) company headquartered in Seychelles has a twenty year tax exemption from local taxation. Additionally, there are no capital gain, interest, dividends, gift, inheritance, property or estate taxes.
On the other hand, all non-resident private and corporate entities are liable to the country’s business tax (up to 40%) on income generated exclusively on the territory of Seychelles. However, there are several activities and companies (such as those from the International Tax Zone) that enjoy tax exemption or exemption privileges from this tax.