Quick Guide: Bank Account Seychelles

Offshore banking is completely lawful, despite the fact that it is perceived by some people as a means to evade tax or as a way to hide illegally accumulated wealth. In fact, offshore banking in a country like Seychelles can legally diversify your political risk, since it keeps your liquid savings in a properly capitalised and sound institution. A bank account in Seychelles can either be corporate or personal, complete with bank services like IBAN, credit cards, and online banking. Refer to this quick guide to learn more about opening a bank account in Seychelles:

• Why open a bank account in Seychelles?  

This jurisdiction is among the list of thriving offshore financial centres in the world. It is a haven for offshore businesses, too, so some local banks have tailored an offering to suit offshore companies and accounts. Banks offer high level confidentiality and a wide selection of payment solutions for personal and corporate clients. Opening an account is free, too.

• How do you open one?

You can get in touch with a bank in Seychelles directly or request assistance from a reliable and reputable provider of offshore company formation and wealth protection services that is based there. The latter can be a better option especially if you want the process to go quickly and smoothly. You can rely on the company to manage your bank account in Seychelles and other treasury-related activities, too.

Note that you do NOT have to go to Seychelles to open a bank account there. The entire process can be completed remotely, so you do not have to fly to the country to make a personal appearance in the bank before your account can be approved.

• What are the requirements?

For corporate accounts, be sure to present notarised copies of basic company documents such as the articles of association and memorandum, certificate of registration, certificate of good standing, registers of shareholders and directors, and power of attorney if applicable. For personal accounts, present a notarised copy of your ID, preferably a passport or a driver’s license, armed forces identity card, or a national identity document or card, along with a proof of address and proof and source of your initial funds, which will go to your account. You can have the copies certified by a consulate, lawyer, notary public, or a reputable bank.

Most Popular Ways to Find Offshore Corporation Formation

Are you interested in offshore company formation in order to reduce taxes, increase privacy, and boost the security of your assets? Then it’s best to work with a corporate services provider that can help you set up an offshore company in a jurisdiction that is suitable to your goals and requirements. A good consultant can advise you on where to register your business so that you can enjoy all the perks of offshore corporation formation. But beware—not all consultants are the same. Here are some tips on finding a firm that can truly deliver high quality offshore corporation formation.

1.   Find an advisory firm that has a long history of successful offshore corporation formation. How many companies have they registered overseas so far? How long have they been in business? In this industry, longevity is a very good indicator that a firm knows what it’s doing.

2.   Choose a company that is licensed by the financial services authority in the jurisdiction you are interested in. This ensures that they are truly qualified to assist you in forming a corporation in your chosen jurisdiction because they know the laws and regulations thoroughly. They should be able to register your corporation quickly and cost effectively.

3. Ask exactly what services they provide. At the very least, they should assist you with document preparation to complete the formation of your offshore corporation. They should help you draft a memorandum of association, a resolution appointing your company’s directors, articles of association, etc. In case, you require a declaration of trust in the case of a nominee shareholder service being provided, a power of attorney, or other such documents, they should help you with those, too. Some of the best advisory firms or consultants can even assist you in finding a registered agent, a registered office, and a company secretary. They can likewise help you open an offshore bank account in the jurisdiction you have chosen.