In Seychelles, Protected Cell Companies PCC are formed under the Protected Cell Companies Act, 2003. A PCC is a Seychelles domestic company that has the right to create one or more identifiable cells so as to segregate and protect cellular assets as permitted under the Act. In simple terms, a PCC is a company which- in addition to its main or core level- contains a number of segregated parts, or cells. Each cell is legally independent and separate from the others, as well as from the core of the company.

The undertakings of one cell have no bearing on the other cells. Each cell is identified by a unique name, and the assets, liabilities and activities of each cell are ring-fenced from the others. If one cell becomes insolvent, creditors only have recourse to the assets of that particular cell and not to any other.

Key Features

Seychelles PCC

Corporate Details

General

  • Type of entity:

PCC

  • Type of law:

Hybrid

  • Our time to establish a new company:

2 weeks

  • Tax Exemption

1.       Exemption of stamp duty in respect of properties, shares and all transactions relating to the business of a PCC

2.        Not liable for business tax on income derived outside Seychelles

  • Number of Cells

Unlimited

  • Continuation from IBC

Yes

  • Registered Office

In Seychelles

Share capital or equivalent

  • Standard currency:

US$

  • Permitted currencies

Any except Rs

  • Minimum paid up:

10% of the Authorized capital

  • Shares types

Cellular and non-Cellular

Directors

  • Minimum number:

Two

  • Corporate Director

Not Allowed

  • Local required:

No

  • Publicly accessible records:

Yes

  • Location of meetings:

Any where

Company Secretary

  • Required:

Yes (must be a Seychelles Corporate Service Provider)

Annual Accounts, Audit, Return

  • Requirement to prepare:

Yes

  • Audit requirements:

Yes

  • Requirement to file accounts:

Yes, to SIBA only

  • Requirement to file annual return:

Yes, to SIBA only

  • Annual Government Tax

USD1,000.00

  • Permitted Business Activities

1. Insurance

2. Mutual Funds

3. Any other business activity approved by SIBA

Advantages

  1. PCC as part of business structure is ideal for use in umbrella funds and captive insurance structures, because the losses of one cell will not have an adverse effect on the other cells
  2. It can limit the creditor exposure, the cells are independent and the assets of a particular cell can be applied to the liabilities of that particular cell only
  3. It is cost effective compared to forming various subsidies for different businesses

The Valsen Advantage

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