Seychelles Offshore Foundation Formation

A Seychelles Foundation is governed by the The Seychelles Foundation Act of 2009 and governed by the Seychelles Financial Services Authority and was influenced by similar pieces of legislation found in Panama and Liechtenstein having many of the same features yet with the added benefits and rights, more flexibility and stronger protection.

There is a large degree of flexibility as a single Foundation can take the form of a Charitable Foundation, Private Interest Foundation, Private Foundation or a specific Purpose Foundation.

Assets that are transferred to the Foundation are under protection of that foundation and are no longer considered assets associated with the person or company from which the asset were transferred.

A Seychelles Foundation is made up of a Founder, Beneficiary, and is managed by a Foundation Council. A Foundation may have what is termed a “Protector” who has the powers to oversee activities, add or remove members of the Foundation Council.

The Seychelles Foundation is a superb offshore structure because of the laws supporting the Foundations ability to hold all assets entitled to the beneficiaries without the beneficiaries holding any legal connection.

This gives the Founders and Beneficiaries an added level of security protecting themselves and their assets.

Key Corporate Features of a Seychelles Foundation

Seychelles Foundation	Corporate Details
General
Type of Entity	Foundation
Type of Law	English Common Law
Governed by	Seychelles Foundation Act 2009
Registered Office in Seychelles	Yes
Shelf company availability	Yes
Our time to establish a new company	1-3 Business days
Minimum government fees (excluding taxation)	USD 200
Corporate Taxation	Nil
Access to Double Taxation Treaties	No
Founders
Minimum number	Two
Local required	No
Publicly accessible records	No
Location of meetings	N/A
Corporate directorship allowed	Yes
Foundation Council
Minimum number	One
Publicly accessible records	No
Corporate shareholder allowed	Yes
Location of meetings	N/A
Company Secretary
Required	No
Local or qualified	No
Accounts
Requirements to prepare	Yes
Audit requirements	No
Requirements to file accounts	No
Publicly accessible accounts	No
Recurring Government Costs
Minimum Annual Tax / License Fee	USD 200
Annual Return Filing Fee	N/A
Other
Requirement to file annual return	No
Migration of domicile permitted	Yes

Advantages & Top Uses of a Seychelles Foundation

Advantages

• Complete Foreign ownership
• No Taxation
• Foundation can act as a Private, Private Interest or Charitable Foundation
• Flexible in its operating structure
• Low fees and quick formation
• Strong Foundation laws supporting the offshore structure
• Compete asset protection of founders and beneficiaries
• Names of members and founders are not on public records
• Tax deferral opportunities
• Succession Planning benefits

Top Uses

The Seychelles Foundation has many uses, some of which are:

• Corporation
• Estate planning
• Asset Holding (banks accounts, brokerage, mutual funds, special license)
• Real Estate
• Interests or shares in other companies, foundations or trusts

Seychelles Foundation Details

Anonymity, Confidentiality and Disclosure

A Seychelles Foundation is separate legal entity in its own right such that neither the Founder nor the Beneficiaries have any ownership interest in the Foundation assets.

There are no public disclosure requirements nor to file any returns or documents so the Protector and Beneficiaries name do not need to be associated with the Foundation.

The Founder can be either an individual or corporate entity and may use nominee services for added confidentiality.

Foundation Structure

The Foundation’s Regulations are also known as its bylaws, which designate the foundations council members, beneficiaries, and assets.

A founder is the person establishing the Foundation, and can be a person or corporate entity.

Council members are used as a means to govern the Foundation, and can be a Seychelles registered agent.

And a beneficiary is the person who stands to gain from the assets held into the Foundation but who is not legally responsible or tied to the assets at any point until after the Foundation releases those assets.

There is also the possibility of appointing a specific Protector who oversees the affairs of the Foundation Council.

The Founder, council member, or a beneficiary may be appointed as the Protector.

Financial Statements Required

It is required that a Foundation prepares and keeps a financial record, however it does not need to be filed and is not open to the public.

Founder

Foundation Founder is the person who establishes the Foundation and is generally the one who places assets within the Foundation.

The Founder can either retain power over the Foundation, can assign rights to another third party, use nominee founders, or employ an IBC to act as the Managing Director.

The Founder would have the right to remove of replace beneficiaries as well as appoint or change foundation council members. 

Company Secretary

Not Required

Company Meetings

Not Required

Principal Corporate Legislation

The Seychelles Foundation was created through the Seychelles Foundation Act 2009

Type of Law

English Common Law

Foundation Council Members

A Seychelles Foundation employs council members who can be individuals or legal entities who manages the affairs of the Foundation.

A founder can be a council member but not the only member.

The Charter is the document that lays out the council members and their duties. Public records are not available for the council members.

Language of Legislation and Corporate Documents

English or French or any other language but must have English translation 

Registered Office Required

A local registered office is required, and can be the office of the registered agent

Local Presence

There is no local presence required and can be completely controlled and owned by a non resident

Audit Requirements

There are no audit requirements of any kind 

Annual Reporting

There are no annual reporting requirements for the Seychelles Foundation

Shelf Companies Available

Shelf Companies are readily available

Time Required to Form Offshore Company

1-3 Business Days