Why Should You Setup a Seychelles Company?
The common financial issue that is faced by many corporations the world over is a high rate of taxes that they have to pay annually. Most of the business owners think that there are no legal alternatives to try and save some money on taxation, but this is not the case. You, as a business owner, have the option of establishing a holding company called Seychelles company in the island nation of Seychelles and getting to enjoy the benefits of a beneficial tax structure that is prevalent there. You may have subsidiary operations anywhere in the world, but you will be liable for taxation only in Seychelles where your holding company is located.
Along with the Seychelles company that you have incorporated, you will get to enjoy an incomparable protection of your privacy as the laws here do not require you to divulge sensitive company related information at the time of incorporation. Only a few basic details like the name, address of the company etc. are in the public domain. You also do not have to file your annual return or any other documents that are mandatory in many other developed countries in Europe and North America. The benefits of offshore company incorporation are many whichever way you look at it (financial, regulatory etc.).
The regulatory requirements in most of the developed nations with respect to private corporations are stringent and may require the business owner to file a large number of documents. There are also a number of regulators in these countries who may require variations of the same document. All these may cause a lot of hassles for the personnel handling the regulatory financial reporting procedure in your company. You can avoid all these issues if you set up a Seychelles company as you need not submit any of the usual regulatory documents in this country once you have finished the formalities of offshore company incorporation.
In addition to the Seychelles company, you can also open an offshore bank account to protect your funds from the rigors of taxation and unfavorable legislation. International investments are often dependant on large volume transactions where the margins may be lesser than expected. You will expect to make money on the volumes. This strategy gets affected if there is a high tax rate in the county where you reside. An offshore IBC can help you get out of the tangle by letting you channel all your international investments from the offshore bank accounts that you have set up. You also do not need to furnish many personal details at the time of setting up of an offshore account.
The offshore bank accounts have many other advantages including that of multi currency operations. This allows you the flexibility of remitting the money in different currencies without losing money in exchange rates and other requirements as is the case with onshore accounts. With all the advantages that can be tapped by setting up a Seychelles company and an offshore bank account, you could be well on your way to making a steady stream of profits in the years to come.
Silvia is the author of this article on Offshore bank account. Find more information about Seychelles Company here.
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