Seychelles Special License Company (CSL).

A CSL allows you perform activities that are subject to special approvals, like banking, insurance or re-insurance business. It combines a the formation of a normal onshore company with the special licenses issued by the regulator.

Seychelles Special License Company is formed under the Companies Act 1972 and operates under a hybrid law, as the Special License is awarded under the companies Act 2003. A Special License Company (CSL) is a resident company and can conduct business inside and outside of Seychelles.

Seychelles CSL can engage in various business activities as indicated in the Seychelles Company Act 2003. CSL can undertake activities like Banking, Insurance, reinsurance and any such activities and business approved by the Seychelles FSA.

The clients will be able to enjoy the benefits of Double Tax Avoidance Agreements (DTAA) with an access to jurisdictions covered by a treaty at reduced tax. It is a special feature of a CSL, that it is taxed, but only at just 1.5% of the worldwide income.

Fully tax exempt offshore companies are under increasing scrutiny from global governments and bodies such as the OECD. To avoid the label of “no tax”, the Seychelles CSL (Special License Company) is a special type of a low tax company which is a proper tax resident, but only pays a low 1.5% business tax. Thus for setting up global trading or service companies such as e-commerce businesses, a tax resident entity that pays only 1.5% business tax is an increasingly interesting option.

The Seychelles CSL may also have access to the growing list of Double Taxation Avoidance Agreements (“DTAAs”) entered into between the Government of Seychelles and various treaty partner countries such as China, Indonesia and South Africa among others.  With the allowance of foreign tax credits and expenses for certain items, the effective tax rate may actually be 0% in such structures.

The following activities can be undertaken by a Seychelles CSL:

  • Undertaking the business of investment management and advice
  • Offshore Banking
  • Offshore insurance and re-insurance
  • Investment Services
  • Marketing
  • Intellectual property holding
  • Franchise
  • Human Resources
  • any other business approved by Seychelles FSA

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