Seychelles CSL

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.