Procedure of Company Registration
Seychelle IBC’s are incorporated under the regulations laid down by the 1994 International Business Companies Act. All IBC’s that conduct their business outside the Seychelles are allowed providing that their business is not banking, insurance or trust services. IBC’s must be registered through a locally registered agent.
The procedure for the formation of a Seychelles offshore company is fast and efficient.
The general process is as follows:
- An application form is completed with details of preferred name and details of beneficial directors and shareholders (nationality, country of residence, address, profession etc).
- A scanned and notarised copy of the passport of the beneficial Directors and Shareholders is required.
- An original proof of residence showing the name and address of the individual. This can be in the form of a utility bill or bank statement and must not be older than 3 months.
- A certificate of good standing is required.
- At this point Eltoma will issue an invoice for a Seychelles Company Formation. Upon receipt of payment we start the incorporation process.
- The application form, associated required personal documents and preferred company name is submitted to the Registrar. The Registrar will reserve and issue a unique company number of the proposed IBC upon which time the company’s Memorandum of Association is prepared and submitted.
- Upon acceptance of the Memorandum, the Registrar will incorporate and issue the Company’s certificate of incorporation. The Articles of Association must be submitted within 30 days of the date of incorporation.
Have the Many Benefits of Offshore Banking Left the Industry Open to Abuse?
The overseas banking industry is a billion-dollar business. Its no surprise that during the last decade, criminals have discovered ways to circumvent and exploit the system, ultimately giving the offshore world a bad reputation. This article looks at the many benefits associated with overseas banking; and how this has left the industry open to abuse.