Republic of Seychelles
Foundations
- Privacy Rights
Common Law - Worldwide Tax
0% - Government Fees
$215 (USD) - Registration Time
1 Business Day
| Over 60% of the world is under a civil law form of government including most of Europe and all of Asia, with the exception of Hong Kong and Singapore. Foundations are widely excepted in the international community and preferred in most countries operating under civil law. |
A Seychelles Foundation is a separate legal entity just like a company, but has beneficiaries rather than shareholders. Assets transferred to a foundation become the property of the foundation with full legal and beneficial title and are no longer the assets of the founder. Once a foundation has been funded it is managed by a foundation council for the directing of investments and appointment and removal of councillors, protectors and beneficiaries. The foundation council is located in the Republic of Seychelles, which is a nil tax jurisdiction, and mitigates potential tax risks from aggressive taxing authorities in other countries. |
| The founder is the person who is creating the foundation and may be any individual, legal entity or nominee. Seychelles foundations permit two or more co-founders. A founder, or another person assigned the rights of the founder in the Charter or Regulations, may reserve special rights to direct investments, appoint and remove beneficiaries, or even dissolve the foundation. A founder may even be the sole beneficiary of the foundation during his lifetime, so long as successors are appointed. |
| The councillor manages the business affairs of the foundation and may be natural individuals or legal entities. A minimum of one councillor is required. Councillors may be of any nationality and reside anywhere in the world. A founder may be councillor, but not the sole councillor. |
| Beneficiaries receive the distribution of assets according the Charter or Regulations. However, beneficiaries of a Seychelles foundation are not owners and have no rights or control over the assets belonging to the foundation. |
Republic of Seychelles
Foundation Laws
Official Document Language
Conduct Business Internationally
Conduct Business in Seychelles
Resident Agent Required
Registered Office Required
Resident Secretary Required
Company Taxation
Double Taxation Avoidance Agreements
Company Tax Resident Qualification
Income Tax and Business Tax
Detailed Client Application Required
Minimum Founders
Company Founders Allowed
Residency of Founders Allowed
Register of Founders
Register of Founders Public Record
Minimum Councillors
Company Councillors Allowed
Residency of Councillors Allowed
Register of Councillors
Register of Councillors Public Record
Disclosure of Beneficiaries to Registered Agent
Disclosure of Beneficiaries with Registrar
Annual General Meeting Required
Foundation Minutes and Resolutions
Minimum Funding
Capital Considerations
Subject to Currency Controls and Restrictions
Application Fees
Annual Government Fees
Keeping of Accounts Required
Filing of Accounts and Returns Required
Annual Government Return Filing Fees
Auditing of Accounts Required
Re-Domicile from a Foreign Country
Re-Domicile to a Foreign Country
Shelf Foundations Available
Incorporation Time
Foundations Act, 2009
English
Yes
Yes
Yes (International Foundation Service Provider)
Yes (International Foundation Service Provider)
No
0 % of Worldwide Income
No
No
No
No
1
Yes
Non-Seychellois
In Private Possession of Registered Agent
Yes (Nominee Founders Permitted)
1
Yes
Any Nationality
In Private Possession of Registered Agent
No
Yes (Due Diligence Requirements)
No
Yes (Anywhere in the World or by Proxy)
In Private Possession of Registered Agent
$1
Any Currency or in Kind
No
No
$230 First Year ($215 Thereafter)
Yes
No
No
No
Yes
Yes
Yes
1 Business Day
imposes due diligence obligations upon all financial intermediaries requiring evidence of identity, residence and source of funds prior to entering into a business relationship. All international orders are required by law to provide Due Diligence Information.| A Seychelles Foundation is not required to prepare or file any financial accounts and is free to arrange its accounts in any manner fitting to establish and maintain reasonable accuracy of the foundation's financial position. |
| A Seychelles Foundation must have initial assets of $1 minimum. Assets may originate from any lawful source either from the founder or a third party and may consist of present or future assets of any nature. In addition to non-Seychelles assets, the foundation may include the following Seychelles assets: |
Foundations Act, 2009
Part II - Establishment of Foundations
Section 11 - Assets of Foundation
(1) The assets of a Foundation ─
(a) may include ─
(i) any interest or entitlement as a beneficiary of another Foundation registered under this Act;
(ii) any shares, debentures or other interests in a company incorporated under the International Business Companies Act;
(iii) any shares, debentures or other interests in a company licensed under the Companies (Special Licenses) Act;
(iv) any shares, debentures or other interests in a company incorporated under the Protected Cell Companies Act;
(v) any interest in a partnership registered under the Limited Partnerships Act;
(vi) any interest or entitlement as a beneficiary under a trust registered under the International Trusts Act;
(vii) any company, trust or other entity licensed as a mutual fund under the Mutual Fund and Hedge Fund Act; or
(viii) any funds in an account with a bank licensed under the Financial Institutions Act; and
(b) shall not include immovable properties or other properties in Seychelles, including shares, debentures or other interests in a legal person incorporated or registered, in Seychelles.
(2) to the written laws, lease immovable properties in Seychelles, only for any of the purposes mentioned in section 7(2)(c)(v).
Foundations Act, 2009
Part VIII - Accounts and Register
Section 75 - Books of Account and Records
(1) A Foundation shall keep proper books of account and records as its council considers necessary in order to reflect its financial position, about ─
(a) all sums of money received, expended and distributed by the Foundation, and the matters about which the receipt, expenditure and distribution took place;
(b) all sales and purchases by the Foundation; and
(c) the assets and liabilities of the Foundation.
| The name may be in any language, but if the name is other than English or French it must be accompanied with one of the two respective language translations. |
| Foundation |
| A Seychelles Foundation is created for the management and distribution of assets in accordance with the Charter or Regulations for the purpose of either family succession as a "private foundation", for charitable causes as a "charity foundation", for a specified reason as a "purpose foundation" or any combinations of the three. |
| A foundation may adopt a document entitled Regulations, which is private and not filed with the registry. The Regulations may, for example, provide for the identification and designation of councillors, beneficiaries, distribution of the foundation assets and beneficiary entitlement proportions. |
| A Seychelles Foundation has an independent legal personality and possesses the same powers as a natural person. A current register (complete contact information) of beneficiaries must be kept at the office of the local Seychelles resident agent. |
Order Form
CFMA
Due Diligence
$ 1,600
Complete Formation
Either Revocable or Irrevocable Foundation
Name Availability Search
Statutory Due Diligence for Up to Two Persons
One Hour of Legal time for Initial Consultation
Two Hours of Legal Time to Draft Foundation
Filing of the Charter
Government Fees ($230)
Original Certificate of Registration
Founder Charter
Foundation Regulations
Organizational Minutes
Minutes of Initial Meeting
Resolution for the Appointment of 1st Councillors
Resolution for Private Protectorate (If Applicable)
Register of Agents, Councillors and Protectorates
Resolution for Banking
Certificate of Incumbency
Resident Agent
Registered Office
Safekeeping of Registers and Accounts
Disbursements (Calls, Faxes, Photo Copying, etc.)
One Year of Customer Support
Annual Business Review
Incorporation Time is 1 Business Day
$ 925
Annual Renewals Statutory Due Diligence for Up to Two Persons Filing of the Charter Government Fees ($215) Resident Agent Registered Office Safekeeping of Registers, Books and Records One Year of Customer Support Annual Business Review
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