2 years ago
Business or Pleasure, Seychelles has it all
(1888 PressRelease) Whether you are concerned with the stability of the macroeconomic environment, or high taxes in foreign countries, Seychelles is not only the jewel of Africa, it is also fast becoming one of the most sought after business hubs in the world.
Creating an environment where business owners are exempt from local taxes, the increase in business between not only Africa and Europe but also Africa and Asia is noteworthy. ICO Services is now offering businesspeople around the world the opportunity to make use of their services in terms of setting up an International Business Company (IBC). Not only do you benefit from a user friendly set-up, this is also the most popular and easily recognised international business type.
Long thought of a just another honeymoon spot or a place for rest and relaxation, Seychelles has often been overlooked where its relatively easy business set up is concerned. Sub Saharan Africa may not be known for ease of doing business, however, Seychelles enjoys a sizeable portion of upper middle income earners, which adds a fundamental building block to ensuring relative ease in setting up business. According to analysts from the World Bank's Ease of Doing Business platform, the Seychelles rank in at 85th where the ease of doing business is concerned, two slots up from last year. Not only does it rank pretty high up, the Seychelles have a stable jurisdiction and a very good reputation in the international business community. They are also very concerned in terms of ensuring that the ease of doing business is continuously improved, in order to keep up with international trends.
Throughout the crisis of 2007-2008, the Seychelles has managed to not only reclaim its former glory in terms of being a popular playground for the rich and famous, but is an example to other small states by virtue of its exemplary conduct in terms of the reduction of its sovereign debt. The Minister of Finance, Pierre Laporte has his eye on strengthening business relations to Asia to ensure a strong bond with multiple continents.
Conformance to International Business Companies Act (IBCA) (Act 24 of 1994)
Setting up international business can be daunting where the company laws that govern said company may be unclear or unknown. With Seychelles conforming to the International Business Companies Act, this makes setting up and running a business in Seychelles relatively easy to understand and manage from a documentation point of view. A favourable fiscal position and lower debt really sets Seychelles up for a good run. Accounting practices need to conform to the IBCA which ensures that the way business is done on the international stage is not only a true reflection of the actual operations, but also increases confidence in dealing with these businesses.
Peace of Mind
If the idea of having your international business information available for all to see, may leave you doubting whether having an IBC is the best decision. Seychelles has taken this matter out of the equation altogether, and now peace of mind of limited access to this information protects the director and shareholding information from the general public. This encourages more trade with companies established in Seychelles, which benefit all parties concerned. Add to this the fact that the registration of an IBC in the Seychelles only requires one director and one shareholder. Once the decision has been made on the parties involved, the actual registration of the company is done with relative ease. Seychelles compares well with the rest of Africa, or rather, the norm in Africa in terms of registration and other business processing, for instance, obtaining business permits and such.
According to the World Economic Forum (WEF) Networked Readiness Index (NRI) 2014, Seychelles boasts an incredible information infrastructure and isranked as the top African country where information and communications technology (ICT) is concerned. This as incredible feat when taken into consideration that the total population for the Seychelles can fit into a world class football stadium.
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