Mauritius | Kenya | Seychelles
 
 
Axis specializes in developing trust
structures that protect your assets.
As part of its regional expansion, Axis has now established a presence in Seychelles and Kenya.
Axis can set up and manage tax-incentive companies and offshore entities in Mauritius.
Mauritius has recently opened up its
real-estate market to foreigners.
Axis provides specialist offshore fund
services for a full range of fund structures.
Axis further consolidates its preferred relationship with BLC Robert by becoming an affiliate of ALN.
 
Seychelles
Taxation

The Taxation System In Seychelles


Seychelles is governed by civil law except for the corporate legislation and criminal law which are based on the English common law.

Generally, Seychelles has a territorial basis of taxation subject to exceptions; that is, profits are taxed only if they are derived or deemed to be derived from a source in the Seychelles.

There is no capital gains tax, interest, dividends and other payments received from abroad are likewise not taxed.

The tax year is normally the calendar year, ending 31st December. A tax return must be submitted by March 31st following the end of the tax year, along with the signed-off accounts.

Seychelles Withholding Tax


There are the following withholding taxes in the Seychelles:

  • 15% on dividends paid to non-residents (this is a final tax);
  • 10% on interest paid to non-residents other than financial institutions (for whom a nil rate applies); this is a final tax;
  • 40% on interest payments by a Seychelles financial institution at maturity of a bearer security issued by that institution; this is a final tax;
  • 15% on royalties paid to residents;
  • 15% on royalties paid to non-residents on certain types of royalty (copyrights, patent, design and trademark royalties are exempt).

Fiscal Regime


(A) Domestic Companies


As from 1 January 2010, Companies do not have a tax free threshold. The rate payable is 25% on the first SR 1,000,000 and 33% on the remainder.

(B) International Business Companies - IBC


IBCs are exempt from taxation on business activities or transactions carried on outside the Republic of Seychelles, and although there are no specific laws to govern secrecy in relation to companies, the English common law imposes the duty for professionals to keep the affairs of their clients confidential.

IBCs are exempt from the Business Tax, from withholding taxes and from Stamp Duty.

(C) Special License Companies - CSL


The CSL entity is a Seychelles domestic company (under the Companies Act 1972), which is granted a special licence under the Companies (Special Licence) Act and has access to Seychelles' steadily expanding network of double taxation avoidance treaties.

Taxation features:

  • Liable to business tax at the rate of 1.5% on its world-wide income (as an exception to the Seychelles territorial tax system, any foreign income derived by a CSL will be deemed to be Seychelles-sourced income).
  • Exempt from withholding taxes on dividends, interest and royalties.
  • Exempt from stamp duty on property transfers, share transfers and other business transactions.
  • Exempt from trades tax on all furniture and equipment imported into Seychelles for office use.
  • Has exemptions under the Social Security Act and from work permit fees for expatriate workers.

(D) Trusts


Offshore Trusts are exempt from the Business Tax, from withholding taxes and from Stamp Duty.

(E) Funds


The taxation features and regime will be similar to a CSL entity.

(F) Limited Partnerships - LPs


  • Exempt from all Seychelles tax or duty on income or profits of the LP;
  • Exempt from stamp duty on property transfers, share transfers and other business transactions;
  • Exempt from trades tax on all furniture and equipment imported into Seychelles for office use;
  • Has exemptions under the Social Security Act.