One of the most important steps related to setting up an offshore company in Seychelles is the opening of the bank account. Considering the establishment of the IBC company can be completed remotely, the opening of the bank account can also be taken care of by a specialized agent in Seychelles.
An important aspect which needs to be considered when setting up the bank account for the offshore company is the appointment of an account signatory in Seychelles.
Below, our company formation agents in Seychelles explain how account signatories are appointed. We can act as account signatories on behalf of foreign investors who want to open offshore companies and bank accounts in Seychelles.
What is an account signatory for a Seychelles bank account?
The role of an account signatory must be taken by a person who is appointed by the representatives of the company. Most of the times, the account signatory is chosen among specialized agents who can also provide other services such as nominee directors and shareholders.
Our Seychelles company formation advisors offer account signatory services for those who want to set up offshore companies and bank accounts in this country.
The actions to be undertaken by an account signatory in Seychelles
An account signatory can complete various actions on behalf of the owner of the bank account or company for which the bank account was created. Among these are:
- – as its name says, the account signatory can sign various documents issued by the bank on behalf of the real owner;
- – the account signatory can administer to some extent the bank account on behalf of the owner;
- – the account signatory can also execute various payments from the bank account which he or she administers;
- – the signatory can also write and sign cheques and dispose of money from the account as requested by the owner.
It is important to note that the owner of the bank account can appoint an account signatory to have a single signatory right or a joint right, meaning two persons must complete actions which require signatures.
It is up to the owner of the account to appoint one or more signatories in Seychelles.
Our local advisors can offer more information on the actions which can be completed by an account signatory in Seychelles.
How is an account signatory appointed in Seychelles?
The account signatory is appointed through an agreement between the real or beneficiary owner of the account and the person who will obtain the signatory rights. The Seychelles account signatory will also need a power of attorney through which the rights of the person in charge are granted.
When the account signatory is a specialized agent, a services contract will also be signed.
It is important to note that banks in Seychelles will require a certificate of incumbency which must state the signatories in a company. This also serves as a certificate of good standing for the account signatories.
Our company registration advisors in Seychelles offer numerous services related to the management and representation of an offshore company. We can also help with the registration of an offshore in Seychelles, and thus provide foreign investors with full services.
Persons who can act as account signatories in Seychelles
Seychelles is an important offshore jurisdiction, which is why it allows for very flexible regulations when it comes to the persons who can be appointed as account signatories. Among these, the following persons can be appointed as such:
- the company managers can be appointed as account signatories for an offshore company in Seychelles;
- any third party unrelated to the company management or ownership can be nominated as account signatory;
- the beneficial owner of a company can also be appointed as an account signatory of a Seychelles company;
- specialized agents who provide various services are usually nominated as account signatories;
- other persons who the real owners of the company consider fit for this position can be nominated.
FAQ on account signatories in Seychelles
1. Can the account signatory be a foreign citizen?
Yes, he or she can be a foreign citizen, as there are no restrictions in this sense, however, it must be noted that the account signatory must reside in Seychelles.
2. How long does it take to appoint an account signatory in Seychelles?
The appointment of an account signatory takes maximum one day to appoint and complete the paperwork.
3. Can an account signatory undertake any action in relation to the account?
No, the account signatory will only act at the instruction of the real owner of the account.
4. Can I appoint an account signatory if I am in another country?
Yes, it is possible to appoint a Seychelles account signatory remotely.
Please contact us if you need account signatory and offshore company formation services in Seychelles.