Offshore Investment Accounts: Seychelles, Belize, or Cyprus?

Offshore investment is the keeping of money in a jurisdiction other than one’s country of residence. Offshore jurisdictions are a commonly accepted solution to reducing tax burdens levied in most countries to both large and small scale investors alike. Poorly regulated offshore domiciles have served historically as havens for tax evasion, money laundering, or to conceal or protect illegally acquired money from law enforcement in the investor’s country. However, the modern, well-regulated offshore centres allow legitimate investors to take advantage of higher rates of return or lower rates of tax on that return offered by operating via such domiciles. The advantage to offshore investment is that such operations are both legal and less costly than the solutions offered in the investor’s country – or “onshore”. Locations favored by investors for low rates of tax are known as offshore financial centers or (sometimes) tax havens.  (from Wikipedia.org…)

Today we will not focus on the most popular offshore conduits, like BVI or Bermuda, but will focus on the smaller, lesser known (in the USA esp.) such as Seychelles (off Indian Ocean), Cyprus (off Greece/Turkey), and Belize (South America).  Let’s see which one is best for offshore conduit from the USA.

First lets us look at the beautiful beaches of Seychelles, pronounced (say – SHELZ) which consists of 115 islands in the Indian Ocean, east of Africa.  Official language is French then English.   Here are some beautiful pictures of the islands and beaches…

Benefits of Seychelles Incorporation:

• Incorporation fees are fixed for life. Even if the annual renewal fees are increased in the future, a company incorporated before such an increase came into effect will not be 18affected adversely;
• IBC pays no taxes in Seychelles other than the Government License fee;
• annual reporting (accounting, auditing) not required for IBC’s;
• Accounts need not be kept; however, if they are kept there is no requirement for an audit;
• There is no minimum capital requirement; shares may be either registered or bearer and may be issued in any currency;
• Shares can be issued with or without par value;
• only one shareholder and one director is required. Their particulars do not appear on public record. Moreover, we could provide nominees to maintain owner’s confidentiality;
• Shareholders, directors and officers need not be resident in the Seychelles and there is no stipulation as to their nationality;
• Directors and/or officers can be either corporate entities or natural persons;
• there is no foreign exchange control;
• it takes only 24 hours to incorporate an offshore company in Seychelles and the fees are the lowest on the Internet;
• Speedy incorporation procedures and simple ongoing administration;
• Shareholders and directors meetings need not be held in the Seychelles, can be held by telephone, may attended by proxy;
• The Memorandum and Articles of Association are the only documents to be held on the public record;
• There is no requirement to register initial or ongoing changes in directors and/or officers;
• IBC’s may engage in any lawful business in any country and may carry on transactions in whatever currencies they choose;
• Not highlighted by OECD;
• Not yet widely perceived as a tax haven;
• Fee anniversary is 12 months from incorporation, not December 31st

Something Cool to Watch on Videa about Seychelles: Swimming Horses on Beach!

Also, click here to learn more about offshore accounts, conduits, and Planning Offshore via Investment Funds