Seychelles Company Formation - HongKong

Seychelles is an offshore jurisdiction, like Belize and the British Virgin Islands. Hong Kong is also a prevalent location to set up a foreign company. It also provides many advantages in the tax regime as well as a favourable business environment.

Hong Kong has signed many bilateral and multilateral agreements with different countries. The main intention of signing these treaties is to enter into strategic agreements with each other. This results in conferring a fair amount of transparency in its commercial activities. With regard to the several rules and regulations of Hong Kong, primarily related to business and trading activities are considered as tax heaven. The market players get low tax implications and compliance requirements in Hong Kong. Due to this reason, Hong Kong is regarded as one of the most desirable places to establish a business with respect to investors. It possesses a trustworthy image and the right environment to develop new business.

The Seychelles is one of the most dynamic and fastest-growing offshore jurisdiction in the world.

The operation of the offshore companies is governed by the International Business Companies Act, 2016. The registration processes in Seychelles are as follows:

Modern corporate legislation that is aimed at boosting both the foreign-sourced investment.
Newly enacted legislation includes the Protected Cell Companies Act, 2003; Interactive Gambling Act, 2003; and the Limited Partnerships Act, 2003.
Modern Banking Facilities.
Established business and technical support with advanced telecommunication infrastructure.
Professional Network of Company Secretary, Financial and legal experts.
Efficient trust legislation.
Efficient shipping and aircraft registries.
The provision for the formation and domiciliation of the captive insurance companies.
Zero taxation streamlined application.
Easily available work permits.
Have tax treaties with China, South Africa, and Indonesia.
The primary language of business is English and French.

Our team in Enterslice will assist you in helping its clients in Seychelles Company formation-Hong Kong.

How can Seychelles Company Formation be done in Hong Kong?

The Seychelles company formation in Hong Kong can be done in the following ways:

An incorporation fee for the company with a share capital of less than USD 10000 must be paid.
There should be minimum one director and one shareholder.
Due diligence of the beneficial owners, shareholders, and directors are required.
A scanned copy of its certificate of incorporation must be available in 2 working days.

What are the Benefits of Seychelles Company Formation in Hong Kong?

The benefits of Seychelles company formation in Hong Kong are as follows:

There is a value for people's money- a low annual fee of irrespective of the IBC's authorized capital.
No taxation on Seychelles on the foreign regime.
Protection of privacy and asset that includes no public filing of details of the shareholders or directors.
There should be at least one corporate director.
There must be at least one corporate shareholder.
The Seychelles is a well stable and an independent country. It is not subjected to the EU directives.
Both the Chinese and English name must be included in the Certificate of incorporation of the company.
An Annual Return must be done in the form of a written declaration shall be furnished to the offshore incorporations (Seychelles) Limited by the end of the year i.e., 31^st December every year.
Book Keeping is required.
Annual Audit is not mandatory.

What is Pre-Incorporation Requirement for Seychelles Company Formation in Hong Kong?

The following are the pre-incorporation requirements for Seychelles Company formation in Hong Kong:

Requirements for Incorporation and Bank Account Application in Seychelles Company Formation in Hong Kong

The following requirements must be completed in the incorporation and Bank Account Application in Seychelles Company formation in Hong Kong:

The authorized person’s signatures and all necessary documents must be taken.
The company gets registered within 8-15 days. On company registration, a certificate needs to be issued. The company incorporation certificate is issued either in the physical form or electronic form, which will depend on the type of form for applying company incorporation.
After that, a company seal formation will be available after the issuance of incorporation certificate.
When the company incorporation process is going, the preparation of the set of documents for the bank account application will be started.

What are the Documents Required for Company Formation in Hong Kong?

The documents that are required for company formation in Hong Kong are as follows:

A completed application that is duly signed by the authorized persons.
A board resolution is showing the decision to open the bank account.
A certified copy of the Certificate of Incorporation.
Memorandum of Association or MOA of the Company.
Specific declaration from the manager of the company.
A copy of the identity card and residential proof.
A valid proof of the business.
Documents to be submitted to the bank after incorporation of the company.

How to Register an Offshore Company in Seychelles?

For Seychelles Company formation or to get an offshore company registered in Seychelles, there are specific requirements to be fulfilled.

The Seychelles international business company is a complete tax-free corporation that is designed for all types of international trade and investment. There is no need to report regarding the requirements. You have to maintain minimal records, so the Seychelles offer a confidential way to do an offshore business with a requisite bank account.
The Seychelles has not entered into a tax information-sharing treaty. At the same time, other Caribbean islands have strong ties with the UK authorities' to provide information.
The directors and shareholders are not registered publicly. Even for the beneficial owners, no registration is done. Here, the ownership of privacy is guaranteed.
Incorporating a business in Seychelles is cheap and can be done within 24 hours. An IBC does not need to file annual returns.
No tax is charged only a small annual license fee is applicable. Even if you buy, sell, or transfer shares in Seychelles IBC, no stamp duty is collected.
The Seychelles is a nice place to start a business. If you are confused, get in touch with Enterslice for more information.

What is the Requirement of Offshore Seychelles Company Formation?

Seychelles, besides being an excellent holiday destination, is a hotbed for international businesses and also one of the best countres in the world to register an offshore company.

Around 400,000 businesses are registered on these islands. It is the second most popular pace in the world after Hong Kong to disclose an offshore company. The reasons are simple:

Firstly, you do not need to pay tax. The International Business Company gets a written guarantee that will be no taxes on the income, no stamp duty on transfer of shares. There are also no annual requirements.
No reporting of annual accounts.
The significant factor in attracting business in Seychelles is its anonymity factor.
There is no need to disclose the director’s identities, nominee directors and nominee shareholders are allowed.
One IBC can act as the director of another for two layers of privacy.
The Seychelles has not signed up to tax information-sharing treaty, and so it does not pass tax information to the other governments.
The company formation costs are also meager, which means that Seychelles is as competitive as any other nation when it comes to set up the prices. Besides the annual government fee, there are no required maintenance costs. Seychelles also offers political stability as it is an economy based on tourism and a stable banking system that protects your funds.
Initially, you need to do the proper paperwork to ensure correct legal procedures.

Flexible corporate structure: Companies registered in the Seychelles may legally operate with only one shareholder and one director, who must be the same person. There are no requirements for an annual general meeting (AGM), and corporate business need not be conducted on Seychelles.

These advantages are beneficial to companies under foreign ownership or where the company may be part of a more complex corporate structure.

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Frequently Asked Questions

What is the minimum capital requirement to open a Seychelles company in Hongkong?

The minimum capital requirements for Seychelles Company Formation in Hong Kong are as follows:

• The minimum paid-up capital required is USD 1.

• Standard authorized capital is USD 1 Million.

How to open a Seychelles company?

The requirements of a Seychelles company in Hong Kong are as follows:

• Minimum shareholder: 1 (One).

• Director: 1 (One).

• Company secretary: 1(One).

• Transferability of shares: Freely transferable.

• Liability: The amount liability of the members is limited to the its owned shares.

• Corporate shareholder and director is also acceptable.

• A copy of passport and its residential address proof are required for company registration.

Which are the areas where special permission or licenses are required?

The areas where the individual licenses or permissions are required are as follows:

• Money service operators.

• For restaurants in Hong Kong.

• Environmental permits and licenses for residential care homes.

• Telecommunications sector.

• The import and export sector.

Is VAT applicable in Hong Kong?

No, VAT is not applicable to Hong Kong.

What are the types of Company Registration as per jurisdiction?

Based on jurisdiction, the company can be formed as Seychelles IBC or BVI companies.

What is the benefit of registering your company as Seychelles IBC Company?

The Seychelles IBC Companies have carious jurisdictional benefits such as:

• It is tax-free for offshore income.

• It also requires a high level of privacy protection.

• The Seychelles companies are much better than the BVI (British Virgin Island) companies in specific ways like it does not additional charges for 50000 shares, and bank account opening is usually more comfortable.

What is a Seychelles BVI company?

BVI is basically a jurisdiction, wherein the company is incorporated because of certain benefits like directors and shareholders identity protection and tax exemption on offshore profits.

What is the primary difference between the formations of Seychelles company and IBC Company?

• BVI companies and Seychelles companies are quite similar. However, the BVI companies are more preferred, and Seychelles companies are now trending in the market.

• It has also been observed that in many cases, the banks have rejected the applications of BVI companies for the opening of a new bank account due to the coming up facts of money laundering and terrorist activities. However, individual local banks are still more open to BVI companies. On the other hand, the Seychelles Companies entirely accepted by banks.

• Forming a Seychelles company does not involve additional costs for over 50,000 shares compared to establishing a BVI company. Hence with 50,000 shares or less, creating a Seychelles company is still cheaper than forming a BVI company.

• Similarly, there are also tax-free overseas income, privacy protection, a minimum number of directors, and shareholders.

How to check if a company is in Hong Kong?

You must visit the Companies Registry's and Cyber Search Centre (www.icris.cr.gov.hk) to obtain information on all the companies in the Companies Register (including dissolved companies) and also image records of the documents registered and kept by the Registrar of Companies.

How to open an Offshore Company in Seychelles?

The following requirements are among the essential ones when it comes to set up an offshore company in Seychelles:

• You must prepare the Articles of Association (AOA) and submit them to Registrar Companies in Seychelles;

• Appoint the directors of the IBC;

• Choose a business address; and

• Set up a bank account in Seychelles