Under the Limited Partnerships Act, 2003, Limited Partnerships are formed in order to carry out business outside Seychelles. Exception exists only as far as when business must be conducted in Seychelles, necessary for the carrying on of the business of limited partnerships outside the Seychelles. A limited partner of the limited partnership may be a person resident in Seychelles or outside of Seychelles, the general partner of a limited partnership must keep proper accounting records. They must be kept at the registered office or any other place he deems fit. Failure to do so will result to a penalty fee, a general partner may at any time deregister a limited partnership by filing a written notice with the Registrar. At least one of the general partners of a limited partnership must be an IBC under the IBC Act or a company issued with a special license under the Companies (Special License) Act

Seychelles Limited Partnership Key Features

  • To have at least one general partner, who would be liable for any debts
  • To have at least one general partner, who would be resident, an IBC, domestic company, CSL or Limited Partnership
  • Required to have registered office in Seychelles
  • All Limited Partnerships statements and registers filled with the Registrar are available for public inspection

Seychelles Limited Partnership Legal Requirements

Seychelles Limited Partnership

Corporate Details

General

  • Registered Office in Seychelles

Yes

Share capital or equivalent

  • Standard currency

Seychelles Rupees

  • Permitted currencies

Any

  • Minimum Paid up

None

Directors | Officers | Partners

  • Minimum number

1 Limited Partner and 1 General Partner

  • Location of meetings

No

  • Corporate Partnerships allowed

Yes

Company Secretary

  • Required

No

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

Yes

Seychelles Limited Partnership Tax Treatment

A Seychelles Limited Partnership is transparent for tax purposes meaning any tax liability passes to the partners according to their respective interests.

Seychelles Limited Partnership Duration for Set up

Around 3 Weeks

Seychelles Limited Partnership Distinctive Benefits

  • Exempt from all Seychelles tax
  • Exempt from all Seychelles duty on income or profits
  • Exempt from stamp duty on property transfers, share transfers and any other business transactions
  • Exempt from trades tax that would occur upon furniture and/or equipment imported into Seychelles for office use by the Limited Partnership
  • Exempt as an employer to make any payments under the Social Security Act.
  • Exempt from tax or duty, in cases if any payments are made by the Limited Partnership to Seychelles non-residents, and further exempt on all capital gains and all its interest if it is held by a non-resident.
  • Further, under The Limited Partnerships Act, 2003, all tax exemptions are guaranteed for twenty years and shall continue in force thereafter unless a written law provides otherwise.

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