Corporate Structures

Where to find the best incorporation services? Advantages and disadvantages of Seychelles

4/5/2024 8:00:00 AM
Admin System

Do you want to incorporate a company abroad and you're still looking for the right jurisdiction? You're welcome to join the club of those interested in the best corporate options out there.

We have featured a large number of countries that can constitute excellent alternatives when it comes to incorporation services. This list includes jurisdictions like Panama, The United States, The Bahamas, the Cayman Islands, and Singapore. Only a few weeks ago we published a piece on Seychelles, an island destination that has rightfully earned a place among the top corporate centers. 

For a deeper understanding of this jurisdiction today we invite the reader to explore the pros and cons. Keep reading if you want to incorporate a business here or are looking for available alternatives. 

Where are the best incorporation services? An island destination with lots to offer

The country is formed by a group of islands on the Indian Ocean, and it belongs to the African continent. If you're new to the global business sector this is probably the first time you hear about the Seychelles. Nonetheless, experts and nomad capitalists have had their eye on this country for some time and this is why we chose to feature it.

To throw in some interesting information, it's worth noting that the Seychelles have a population of approximately 98,000 people according to 2021 reports. The main languages are Creole, English, and French (in that order) and they mainly have Christian beliefs.

If you want to incorporate a business there are a variety of structures to choose from including limited partnerships and IBCs as well as sole proprietorships, trusts, special license companies, and protected cell companies.

Finding the best incorporation services: Seychelles pros and cons

The corporate world has a variety of options like the Cayman Islands, Panama, or Nevis. Seychelles has a place among them and is excellent for those pursuing the African and Middle Eastern markets. Its location speaks for itself having easy access to Asia and Africa and serving as a bridge between two cultures.

Seychelles: the pros 

Among the pros, we can say that the country has a modern infrastructure, especially regarding incorporation services, trading activities, and banking.

As we've pointed out in previous articles, the legal system is firmly based both on British and French law, a perfect combination of predictability and transparency to incorporate a company.

When incorporating abroad, the country's history is not to be overlooked. A past mined by inflation, extreme left-wing movements, or even abrupt changes in government policies does not provide solid ground for any company, especially if you're scaling up beyond the borders of your country. After all, why would you go through all the trouble of incorporating abroad if you're simply going to find the same problems that you did back home?

In our view, another significant advantage of this island destination is confidentiality as the information of the company's main members is not on public records.

Get in touch with our team

Incorporation services in Seychelles: cons

No matter how badly we may want it to exist, the truth is that there is no perfect place. While Seychelles is definitely high up on our list of recommended corporate hubs, it has some minor drawbacks. Since any serious plan must consider risk as a part of the equation, it might be a good idea to name a few challenges you may find here.

Seychelles is a country with a small population which does not constitute the perfect market to operate locally. If you want to incorporate a business exclusively dedicated to the Seychelles, then you may encounter some limitations.

Reputation is always key, especially in a post-offshore world. Having a past that's been linked to offshore activity can lead authorities to be stricter when it comes to your corporation. There might be a certain level of skepticism when trying to find new partners and foreign tax authorities may ask twice before granting permission or approving a tax filing.

One of the challenges that you may find in the Seychelles lies in its size and position on the map as an isolated place. An island destination is harder to reach hence there might be higher operating costs. These islands largely rely on importation as they have limited means of production.

Finally, at the risk of being redundant, we must refer again to the country's location. Although it’s close to key markets in two continents, its remoteness can be a hindrance especially if you incorporate a business that demands frequent shipments.

Why Mundo still chooses Seychelles to provide incorporation services

Beyond the pros and cons, we keep featuring this island destination to incorporate a company. Why is this? The country simply provides a level of straightforwardness that you can't just overlook. Incorporation is easy and so are the requirements since there is no obligation to have a local director or a local secretary. The absence of mandatory auditing also helps keep things simple as long as you remember to maintain up-to-date financial records at all times. On the other hand, Seychelles offers a competitive environment when it comes to tax incentives and financial perks.

Disclaimer: this article on pros and cons and incorporation services in Seychelles intends to provide only general information. Before you incorporate a business in the Seychelles or any other jurisdiction, especially if it's abroad, make sure to consult with a certified professional. Moreover, find out about the advantages, disadvantages, risks, and opportunities. The present article does not constitute a legal consultation.

Mundo offers the best incorporation services in the most advanced jurisdictions

Panama, the Bahamas, the US, Puerto Rico, Nevis, the Cayman Islands, Singapore, and Seychelles are only some of the pearls we can count in the modern corporate world. In the third decade of our century, we find that the road is not 100% clear and that challenges arise along the way. Nonetheless, this should not be seen as a reason to stop but as a motivation to reach those goals that may seem impossible in the first place.

If you want to incorporate a company abroad, Mundo is there to help you as we have agents, partners, and lawyers in the most important jurisdictions of our day. Get in touch with your Mundo Expert and find the assistance that you need for your corporate journey. The moment to start is now!

Start now and contact us

All Countries
All Tags