Special License Company

Learn more about Seychelles International Business Company, Company Administration, Banking.

The Company with Special License (the “CSL”) entity is deemed as a Seychelles “domestic” company formed under Seychelles the Companies Act (also known as “Companies Ordinance”), 1972 and a special license from Seychelles International Business Authority (the “SIBA”) under the Companies (Special License) Act, 2003.

Unlike the Seychelles IBC (which is consider as tax exempted entity), the CSL is a tax resident, which can utilize all the tax benefits that are available for the local companies, such as Double-Tax Avoidance Treaty. However in same time, it is also liable for the Business Tax at the rate of 1.5% on its worldwide taxable income.

 

Key Features

Factor

Status

Remarks

Business Income Tax

1.5%

Applicable on its worldwide taxable income.

Double-Tax Avoidance Treaty

Applicable

Seychelles now has Double Tax Agreements (DTAs) in force with 15 countries.

Annual/Tax Return

Required

Filing required, but not for public access.

Level of Confidentiality

Relatively High

Filing required, but not for public access.

Authorized Share Capital

Not Restricted

Can be registered in any currency.

Shareholders

Minimum 2

Can be foreign individual or corporate entity. Not allow for bearer shares.

Directors

Minimum 2

Can be foreign individual. Corporate entity not allowed.

Secretary

Required

Secretary shall be a resident of Seychelles or a corporate entity incorporated in Seychelles.

 

Double-Tax Avoidance Treaty

According to the Seychelles International Business Authority (SIBA), Seychelles has concluded double tax avoidance treaties with the following countries:

DTAs In Force

DTAs Signed (not yet in force)

DTAs Negotiations Concluded

Bahrain, Barbados, Botswana, China, Cyprus, Indonesia, Malaysia, Mauritius, Monaco, Oman, Qatar, South Africa, Thailand, The United Arab Emirates, Vietnam and Zambia

Belgium, Bermuda, Ethiopia, Kuwait, Lesotho, Luxembourg, Malawi, Monaco, Sri Lanka and Zimbabwe

Egypt, Kenya, Morocco, Mozambique, Namibia, Pakistan, Portugal, Tunisia and Switzerland

 

Special Operation Objectives

A CSL could be the appropriate vehicle if a proposed business requires specific regulation. Specifically, according to the Companies (Special Licenses) Act 2003, it may be organized to undertake the business as follows:

  • Management and Advisory Services of Investment
  • Offshore Banking
  • Offshore Insurance and Re-insurance
  • Investment Services
  • Human Resources
  • Marketing
  • Intellectual Property and Franchise
  • Seychelles International Trade Zone
  • Any other business with SIBA’s approval or license

 

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