Both foreign investors and companies have the possibility of doing business in Seychelles through various business forms. Even if the international business company (IBC) is the most employed type of structure used by foreign investors, companies have several choices. Among these are the branch office, the subsidiary, and the representative office.
Our company registration agents in Seychelles can explain the differences between the types of structures available for foreign companies interested in setting up a presence in this country.
What is a Seychelles subsidiary?
First of all, a subsidiary is one of the best forms of doing business in Seychelles, as it enables a foreign company to have an independent presence on of the islands of this country. Even coordinated by the parent company, the subsidiary is also allowed to conduct other activities apart from those of the foreign business.
The most employed type of structure used for setting up a subsidiary in Seychelles is the limited liability company, also known as the proprietary company. There is no need for a local partner when creating a Seychelles subsidiary company.
Our company formation consultants in Seychelles can assist with the registration of a limited liability company.
Requirements related to setting up a subsidiary in Seychelles in 2023
The requisites imposed by the local legislation for opening a subsidiary in Seychelles are:
- at least one director;
- a company secretary.
It should be noted that both the director and secretary must be residents. If the director can be an individual, the secretary role can also be assigned to another company.
If you want to expand your business operations through a subsidiary in Seychelles in 2023, you can rely on our agents.
It is important to know that, at the end of 2022, the legislation has been modified with regards to the definition of a beneficial owner and this can also impact the registration of a subsidiary in 2023. However, this concerns only the subsidiaries of listed companies.
The subsidiary must be registered as a wholly owned subsidiary so that the legislation can be applied to it. The new amendments were made to the Beneficial Ownership Act, which, in 2023, includes new obligation regarding the disclosure of information regarding the beneficial owner.
Registering a subsidiary in Seychelles
A foreign company establishing the Seychelles subsidiary in 2023 must file the following documents with the Companies Registrar:
- information about the parent company, such as copy after the certificate of incorporation;
- the Articles of Association of the subsidiary;
- information about the directors and company secretary;
- receipt after paying the registration fees.
Subsidiaries can register for VAT purposes in Seychelles.
Why open a subsidiary in Seychelles in 2023
At the level of 2023, opening a Seychelles subsidiary company represents one of the best solutions for business owners who want to expand their operations in the MENA region. Apart from the fact that it will enable them to continue their activities both in the home country and in Seychelles, it will also be possible for the company created here to complete other types of activities, since the subsidiary can engage in different operations that the ones developed by the parent company.
If you are wondering about creating a subsidiary in Seychelles in 2023, our specialists in company formation can explain all the details.
Our lawyers in Seychelles are also at your disposal for guidance in various matters.
FAQ on opening a subsidiary in Seychelles
Among the most common questions related to opening a subsidiary in Seychelles are:
- How hard is to open a subsidiary compared to an offshore company in Seychelles?
Considering the procedure related to setting up both types of entities is the same, the process of registering a subsidiary is the same as the establishment of an IBC in Seychelles.
- How long does it take to register a subsidiary company in Seychelles?
The registration process of a subsidiary takes about six weeks to complete.
- Do subsidiaries need any licenses?
The licensing requirements of subsidiaries in Seychelles depend on the activities of the company.
- Are there any share capital requirements for a subsidiary in Seychelles?
No, there are no share capital requirements when setting up a Seychelles subsidiary.
- How are subsidiaries taxed in Seychelles?
Subsidiaries will be applied the corporate tax which can go up to 33% in Seychelles.
Please watch our video on the registration process of a subsidiary company in Seychelles:
Our company formation advisors can assist with the documents related to setting up a subsidiary in Seychelles. Please feel free to contact us if you need help with the company formation in Seychelles.
You can find all the necessary legal support for Seychelles offshore company formation in our team of specialists. Our consultants can help you set up a subsidiary, a branch office and they can offer assistance on the most suitable way to expand a business here.
Our team can help you during the incorporation stages, but also after your business becomes operational.