Company registration in Seychelles follows the same basic formalities stipulated by law for both onshore and offshore legal entities. Depending on the type of legal entity and the sector in which it activates, different registration steps may be required (our consultants can offer complete legal representation during the incorporation steps, regardless of the industry of interest).
Differences in registration may also appear based on the nationality of the investor who wants to register a company in Seychelles. In this sense, we mention that foreign investors need to obtain an approval from the Seychelles Investment Board (SIB).
This obligation appears prior to starting the formal process of company incorporation in Seychelles, through which a legal entity gains its legal recognition from the local institutions.
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Responsible authority
Companies in Seychellesneed to be registered with the Companies Registry, which also holds the database on the Seychelles-based companies. Besides this, the Registrar is responsible with the issuance of certain company incorporation documents, such as:
- The Certificate of Good Standing;
- The Certificate of Incorporation;
- The Memorandum and the Articles of Association.
It must also be noted that the institution is responsible with providing information to third parties on the above-mentioned documents. According to the law, these papers are not publicly made available and they can be issued to third parties, such as other investors, who have the right to request, on demand, the founding documents of registered companies. Third parties in this case can be represented by:
- shareholders;
- directors;
- other companies;
- organizations;
- public authorities;
- individuals.
Company registration in Seychelles also falls under the supervision of the Financial Services Authority for a variety of non-bank financial entities. In certain situations, investors may need to obtain the apostille, a case in which the participation of the Seychelles Supreme Court is required, as it is the sole entity responsible with the issuance of the document. The infographic below presents the main aspects concerning the Trade Register in Seychelles:
What documents are required for company registration in Seychelles?
In order toregister a business in Seychelles, investors must provide their personal information, the legal entity under which the company will function, the selected trade name, the activities carried out by the company, as well as its statutory documents.
The statutory documents may vary from one company type to another. For instance, limited companies are founded based on the memorandum of association (which defines the company’s objective and basic structure) and the articles of association (they present the company’s internal governing rules), while partnerships are incorporated based on the principles of partnership agreements.
Along with these documents, investors must present papers attesting the company’s registered address in Seychelles and the bank account set up at a local commercial bank. Below, you can watch our short video presenting the Seychelles Trade Registry:
Fees
For the issuance of the documents presented earlier in this article, the Commercial Register charges specific processing fees. We mention that these fees do not include legal services provided by our team, as they simply represent the standard prices currently imposed by the institution, some of which are:
- $99 for the issuance of a Certificate of Good Standing or of a Certificate of Official Search (it provides a detailed image of the company, including its changes – such as the legal entity conversion, its financial situation, if it has a mortgage, if it is in the process of liquidation, etc.);
- $149 for the issuance of the Memorandum and the Articles of Association;
- $79 for the Hague Apostille;
- the processing time varies from 1 to 3 days, but in the case of a Certificate of Official Search, the period can be increased to up to 5 days.
We invite you to contact our consultantsif you plan to register a company in Seychelles. We offer legal assistance for the incorporation of onshore and offshore businesses.