THE SEYCHELLES



The Seychelles are a group of 115 mostly uninhabited islands situated in the Indian Ocean, north-east of Madagascar. The islands have a total land area of 455 km2, and the majority of the 81 895 (July 2007) population live on the island of Mahé, where Victoria, the capital city, can also be found. The Seychelles enjoy a humid, tropical marine climate, with a monsoon season from March to September. The economy has expanded rapidly in the quarter of a century since independence, with the major contributors being tourism, agriculture and fishing. The official languages of the islands are English and French, and there is also a widely spoken Creole language of French origin. The native Seychellois people are of mixed African and French descent, and are predominantly Roman Catholic. The official currency is the Seychelles rupee.

History

It is thought that the Seychelles were discovered by Arab nations sometime around the 9th century, though the first European visitors (the Portuguese) didn't arrive until the beginning of the 16th century (1502). The islands remained uninhabited, however, for more than two and a half centuries, until they were claimed in 1756 by the French. The first settlers were French planters and their slaves, but after less than forty years the Seychelles were annexed by the British. Independence was gained in 1976, and followed by several years of political unrest, coups and attempted coups, and included periods during which the Seychelles were a one-party state, before democracy and the multiparty system were re-established.

Politics

The President of the Republic, elected by popular vote to serve a five-year term, occupies simultaneously the positions of Chief of State and Head of Government and is also responsible for the appointment of a Council of Ministers. A National Assembly consisting of 35 elected members makes up the legislative branch of government. 25 seats are apportioned according to the results of election by direct vote, with the remaining 10 being allocated on the basis of proportional representation. The main political parties are the Seychelles People's Progressive Front, the Democratic Party and the United Opposition (a coalition of several minor parties).

INCORPORATION DATASHEET
Method of incorporation / registration:	The Memorandum and Articles of Association must be signed by the subscriber. The subscriber must be a local person licensed for the purpose.
Company legal form:	Private Limited Company by shares
Company status:	International Business Company (I.B.C.).
Source of corporate legislation:	International Business Companies Act, 1994.
Possible suffixes to company name:	Ltd., Limited, Incorporated, Inc., S.A., Corp., Corporation.
Restrictions on company name:	The terms Bank, Imperial, Insurance, Chamber of Commerce, Trust, Royal and Municipal may not appear in the company name.
Time required for incorporation:	2-3 weeks
Number of directors:	Minimum 1 of any nationality
Number of shareholders:	Minimum 1
Capitalisation:	No minimum requirements
Accounting / reporting requirements:	Not applicable
Type of shares:	Bearer or registered
Annual tax and duties:	100 USD
Information publicly available:	Registered office and registered agent.
Disclosure of beneficiaries:	Not required
Registered office:	Local registered office is required by law.
Registered secretary / agent:	Local registered agent is required by law.
Double tax treaty:	Seychelles IBCs are not subject to DTTs.

COMPULSORY COSTS (payable prior to registration)

FORMATION FEES
Incorporation fee:	300 USD
Notarial certification:	200 USD
International authentication (Apostille):	110 USD
Legal expenses, filing fees and stamp duties:	100 USD
Issuing of share certificates and initial minutes and forms:	80 USD
Corporate seal:	50 USD
Courier fees:	50 USD
Subtotal:	790 USD
ANNUAL FEES*
Registered office and registered agent:	780 USD
Annual tax and duties:	100 USD
Subtotal:	880 USD
Total:	1670 USD

*The annual fees for the first year of existence of the company are payable prior to registration. Subsequently, the amount of 880 USD  is payable annually, beginning from the second year of existence of the company. Non-payment of the annual fees results in the company being struck off the Company Register.

The amount of 1670 USD includes the following services: formation of the company, duties payable to the local authorities for the registration of the company, provision of registered office and registered agent for 1 year, annual tax for the 1st year, luxury leather corporate kit containing Certificate of Incorporation with Apostille, Memorandum & Articles of Association authenticated by Registrar, Appointment of First Directors with Notary Public authentication, share certificates, initial forms and minutes, and 2 company seals. The price contains no hidden costs!

OPTIONAL COSTS
Nominee Director (private person):	590 USD / year
Nominee Shareholder:	290 USD / year
Certificate of Incumbency:	330 USD
Power of Attorney with Notarial Certification:	290 USD
Notarial Certification or Apostille:	160 USD
Certificate of Good Standing:	330 USD

LAVECO Ltd. is pleased to offer its clients shelf companies in the Seychelles, which are available at the same price. In the case of purchase of a shelf company the paperwork and documentation involved can be completed in just one hour. Contact our office for details and a list of shelf companies!

SPECIAL OFFER
Formation fees including annual fees for the first year. Ready made Seychelles company with nominee director and notarised Power of Attorney:	2550 USD
Fees payable from the second year. Annual tax and duties, registered office and registered agent, nominee director and notarised Power of Attorney:	1760 USD