Offshore company formation is one of the ideal choices for incorporating a company outside your home country. While considering the offshore company setup, there needs to be clarity on what would be your favourable business location. As we know that there are many offshore locations available to start a business, it is always highly advisable to seek the assistance of an offshore business setup consultant. While getting their assistance, you will know which location would be suitable for doing business.
While considering some of the offshore locations like Seychelles, the British Virgin Islands, Ras Al Khaimah, Belize, The Cayman Islands, and St Vincent and Grenadines, doing business in Seychelles is considered to be an affordable choice. Since each offshore jurisdiction has its business benefits, Seychelles is always considered in the leading position. The jurisdiction is widely known for its reasonable business setup cost, wide access to international markets and convenience in doing business.
As we know, most individuals choose the business location depending on various parameters like affordable company setup budget, ease of company incorporation, and quick banking process; Seychelles always stands in the top-notch position.
However, in this guest post, let’s look at the procedure for the Seychelles offshore company formation and why people prefer doing business in such a jurisdiction.
Foreigners’ Preference in Opting for Seychelles Offshore Company Incorporation
While incorporating an offshore business setup, most people have a common query about whether they can start their offshore company. Foreigners can opt for Seychelles offshore company incorporation because the Seychelles government allows foreign investors to register the company in their country. As per government policies, companies registered by foreigners can be wholly owned. In addition, it should be noted that they will not be allowed to operate business activities related to banking, insurance, or reinsurance.
Also, the most important company structure most foreigners follow is Seychelles International Business Company. This type of company can be formed by following certain requirements.
Following are a few minimal requirements needed for incorporating Seychelles offshore business setup.
- Minimum requirement of only one director
- Minimum requirement of only one director
- A company secretary is not necessary
- Not required to appoint an auditor
- Not required to file accounts
Advantages of Using Seychelles Offshore Company Formation
Generally, offshore company registration gives us various business advantages. While taking the specific jurisdiction (Seychelles) into concern, this location provides enormous business advantages. Following are a few advantages listed for your better understanding.
- Flexible tax laws
- Fast incorporation process
- Quick assistance in Seychelles bank account opening
- Complete asset protection
- Privacy over the details of the shareholders and directors
- Stable business environment
- Supportive governmental system
Simple Procedure for Seychelles Offshore Company Formation
While opting for generic offshore business registration or focusing on a specific business setup, the primary consideration is seeking assistance from a leading consulting firm. While getting assistance from a business expert, you will explore the things necessary for offshore company incorporation.
a) Conduct Thorough Research on Offshore Business
As an entrepreneur or business owner, if you would like to proceed with offshore company registration, the primary thing to consider is conducting in-depth business research. While researching the offshore business, you will get an idea of the requirements for offshore company setup. In addition to that, conducting research always helps you to be aware of the competitors in the current market.
b) Draft a Business Plan Depending on Your Requirements
After conducting thorough business research, you have to take your time in drafting a business plan. The business plan should include the details of the company’s budget, essential requirements, and marketing strategy. When you include all the details of your company formation in the business plan, you can get an overall idea about what things you have to focus on.
c) Finalise a Business Location
Once you draft your business plan, you must focus on finalising a business location. Before choosing a business location, it is recommended to get assistance from a business setup consultant in knowing about the existing offshore locations.
d) Select a Business Structure
When you are planning for Seychelles offshore company incorporation, make sure you know the standard type of business structure followed in Seychelles. The most common business structure followed in Seychelles is the international business company. While opting for Seychelles IBC, you can enjoy multiple business benefits. Starting a Seychelles IBC with the support of a business setup consultant will help you learn about the benefits of an international business company.
e) Choose a Company Name for Your Offshore Business
After finalising your business structure, you can choose a name for your offshore business. While selecting the business name, ensure it was not used by anyone before. Also, ensure you have followed specific rules and regulations in naming your offshore company.
f) Seek an Expert’s Assistance
For forming any company setup, choosing a business name or finalising a business structure, it is always wise to get an expert’s assistance. By getting the offshore consultant’s assistance, you will know the key requirements for Seychelles company formation. In addition to that, it would benefit you if you were aware of the core essentials required for offshore company setup.
g) Fill Out the Application Form to Proceed with the Business Setup Process
When considering forming your dream company, the mandatory requirement is filling out a business setup form. While filling out the form, make sure you have filled the form with the right information. If anything is entered wrong, the entire process will end in rejection. So, it is always recommended to have an expert help to fill out the business application.
h) Submit the Mandatory Documents for Seychelles Company Formation
Setting up a company in any business jurisdiction mandatorily requires some documentation process. Depending upon each business location, the submission of documentation may vary. So, before getting involved in the process, get enough idea about the essential requirements.
Following are a few documents required for Seychelles company setup.
- Certified passport copy
- Certified proof of address (issued within three months from today)
i) Wait for Business Approval
After submitting the documents, you must wait for your company setup approval. Getting approval may take time, depending on your company’s requirements. However, to keep track of your business approval, you can get the assistance of Business Setup Worldwide. The experts at BSW will help you by tracking the approval process and update you on time.
j) Pay the Offshore Company Seychelles Price
Another primary requirement for continuing with the company setup process is paying the offshore company Seychelles price. The cost of setting up a Seychelles company differs depending on various business requirements. To know about the complete breakdown of the business setup cost, you have to contact a business setup consultancy like BSW.
k) Open an Offshore Bank Account
Once you follow all the steps mentioned above in order and without any deviation, you can proceed with the banking process. For running any company or conducting business, there is a significant requirement to open a bank account. The time taken for opening a bank account varies depending upon the choice of your business jurisdiction. Also, it should be noted that if you are incorporating a company in Seychelles, it is optional to have a bank account in the same offshore jurisdiction. However, you can open an offshore bank account in your favourable business location. In addition to that, if you want to know specifically about the Seychelles bank account opening, you can contact one of our business advisors.
Henceforth, by reading the points mentioned about Seychelles company formation, if you would like to proceed with the same, then you can start it today. As we know, Seychelles is considered one of the leading offshore locations, and starting a company in such a jurisdiction favours you in every way.
So, what are you waiting for? You can proceed with your company formation by getting the guidance of Business Setup Worldwide.
Business Setup Worldwide is one of the leading consulting firms that assist business owners, investors and entrepreneurs by providing ample details about the business setup. BSW provides onshore, offshore and free zone-related business suggestions to its clients. So, if you are the one who is looking for any company setup, you can feel free to get in touch with us.
We, as a team, are always pleased to support you in every way. The knowledgeable business advisors at Business Setup Worldwide assist you with every incorporation procedure and make your dream come true. We are widely known for our quick company assistance and bank account opening. In addition to that, we will provide many customisable services to our clients. So, if you need any services related to your business, you can talk with our experts.
