Seychelles CSL – Special Licence Company

The Seychelles CSL is a Seychelles domestic company, incorporated under the Companies Act 1972, which is granted a special licence under the Companies Special Licence Act 2003. Unlike the Seychelles IBC, a tax exempt entity and non-resident for Seychelles tax purposes, the CSL is a tax resident of the Seychelles and may carry on permitted business inside as well as outside of Seychelles. However, the permitted business requirements are such that CSL status is only granted where the Company is to hold investments, or provide services to clients, outside of Seychelles.

Key Features

Seychelles CSL

Corporate Details

General

  • Legal System

Common Law/Civil Law Hybrid

  • Disclosure of Beneficial Owner to Registrar

Yes

  • Disclosure of Beneficial Owner to Registered Agent

Yes

  • Migration of Domicile Permitted

Yes (Incoming and Outgoing)

  • Non-English Language Names Allowed

Yes

  • Operational Objects

Specific to intended business

  • Tax Resident

Yes

  • Tax on Worldwide Profits

1.5%

  • Access to Double Taxation Avoidance Treaties

Yes

Corporate Requirements

  • Minimum Shareholders

Two

  • Minimum Directors

Two

  • Bearer Shares Allowed

No

  • Corporate Directors Allowed

No

  • Company Secretary Required

Yes

  • Standard Authorized Share Capital

USD 1,000 (up to USD 100,000)

  • Minimum Paid Up Capital

10% of authorized share capital

  • Corporate Seal

No

Local Requirements

  • Registered Office/Agent

Yes

  • Local Secretary

Yes

  • Local Directors

No

  • Local Meetings

No

  • Government Registry of Directors

Yes, not public

  • Government Registry of Shareholders

Yes, not public

Annual Requirements

  • Audited Accounts

Yes

  • Annual Filing of Returns

Yes

  • Annual Meeting

No

  • Meeting Location

Anywhere, proxy also allowed

  • Incorporation Time

2-4 weeks depending on the time it takes for the client to return the application and supporting docs

Advantages

  1. A CSL is liable for Seychelles business tax at the rate of 1.5% on its world-wide taxable income.
  2. A CSL is exempt from Seychelles withholding taxes on dividends, interest and royalties
  3. A CSL is exempt from stamp duty on property transfers, share transfers and other business transactions
  4. The fiscal exemptions granted to a CSL under the CSL Act shall be guaranteed for ten years from the date of incorporation of a CSL and shall continue in force thereafter unless otherwise provided for by written law (the statutory guarantee period is anticipated to be extended to 20 years)
  5. The CSL (unlike the IBC) has access to Seychelles’ steadily expanding network of double taxation avoidance agreements DTAs – including China, Thailand, Indonesia, Malaysia, Cyprus, South Africa, Botswana, Mauritius, Oman, etc.

The Valsen Advantage

  • Speedy, Efficient and consistent Services.
  • Relentless effort to obtain bank accounts.
  • Expert advice on structuring options.
  • Dedicated ongoing compliance support.