A tool for Tax Planning : OFFSHORE Company

Legislation Offshore

Seychelles Double Tax Treaties (2010/2011)

According to the Seychelles Investment Bureau, the Seychelles has Double Tax Agreements (DTA) in force with the following countries: Barbados, Botswana, China, Cyprus, Indonesia, Malaysia, Mauritius, Oman, Qatar, South Africa, Thailand, the United Arab Emirates, and Vietnam.

http://www.fsaseychelles.sc/index.php/download/category/4-dtaa

Other international agreements.

Mutual assistance treaties:

In August 2010, the Seychelles signed their first Tax Information Exchange Agreement (TIEA) with the Netherlands.

The signing of this agreement based on the Organization for Economic Co-operation and Development (OECD) model is considered the first of many agreements that the Seychelles government is attempting to put in place to expand its international activities and financial services. The Government is aware of the importance of signing a network of TIEAs (Fiscal Information Exchange Agreements).

Work and residence permits:

In order to work in the Seychelles, a “occupation permit” is required, which is usually requested by the employer who bears the costs. Note that there are restrictions on the percentage of foreign employees authorized in a company.

The staff for Seychelles International Trade Zone (SITZ) can be 100% foreigners, and permits are not required;

There are exceptions for others structures. Reduced rates of $ 120 per year apply to permits issued to investors under the Investment Promotion Act, which may employ up to 25% foreign This base, and another 25% at the normal rate.

Foreigners may own land in the Seychelles with the approval of the government.

Exchange control in the Seychelles:

NB All restrictions on the Seychellois rupee were stopped in November 2008 following the International Monetary Fund (IMF) program sponsoring economic stabilization.

In the Seychelles there is no restriction on the payment of imports although import permits are required for certain products. Under the control of exchange (Exemption) (Amendment) Order 1995, it is illegal to make currency exchange other than in an approved exchange office.

We offer a few links allowing you to deepen the laws governing the offshore business of the Seychelles jurisdiction. Seychellois law on the International Business Company (IBC) can only be consulted at the following address:

Http://www.fsaseychelles.sc/index.php/download/category/5-guidelines

Seychellois law on the Company Special License (CSL) (CSL) (CSL) can be consulted only in English at the following address:

Http://www.fsaseychelles.sc/index.php/legal-framework/fiduciary

The Seychelles legislation on companies in the Trade Zone can be consulted only in the English version at the following address:

Http://www.fsaseychelles.sc/index.php/legal-framework/itz

http://www.fsaseychelles.sc/index.php/download/category/3-legislations

http://www.fsaseychelles.sc/index.php/download/download/3-legislations/39-financial-services-authority-act-2013

Exchange information: www.oecd.org/countries/seychelles/

http://www.fsaseychelles.sc/index.php/download/download/3-legislations/2-anti-money-laundering-regulations-2012

These documents are available in Adobe Acrobat’s Portable Document Format (PDF).

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Mauritius Jurisdiction

MAURITIUS , a volcanic island is located at 30 mn by airplane to the REUNION ISLAND .
His tropical climate is warm and wet in Summer (December to April) with tropical storm , which can become hurricane .
The Winter is mild and dry.
The temperatures vary of 5° between the high land and the seaside, raining is more important in the south of the Island than in the North.

It’s the reason why the tourist zone is more located in the north.

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Mauritius GBL Registration

The characteristics of the offshore companies ( GBL2) are similar than in Seychelles Jurisdiction excepted the points below.
The particularities of the resident company with law tax (GBL1) in Mauritius are detailed below.

Particularities of a GBL2 Global Business License 2
The activities are stated in the Memorandum & Articles of Association,
The shares are mandatory registered ,
The annual tax is US$ 200 ,
The bank account will be mandatory opened in Mauritius .

Characteristics of  a GBL1   Global Business Licence 1
the company must have two persons ,
two resident director are mandatory,
the shares are mandatory registered,
the registered office is mandatory in Mauritius C/O a Registered Agent,
the annual license is US$ 1.500 ,
the effective taxation is 3% on the incomes ,
the financial audit report must be deposed ,
Access to the network of no double taxation including France ,
Possibility to reach a resident and work permit ,
the bank account will be mandatory opened in Mauritius ,
the registered agent must be signatory on the bank account.