Create a private family foundation in Seychelles with Coddan: apart of an ordinary company formation, by creating a private foundation in the Seychelles in this manner, persons or corporations can control and maintain ownership of foreign corporations without directly owning these corporations themselves. This process alleviates the persons and corporations involved from the controlled foreign corporation restrictions of their own country and instead offers significant asset protection and financial benefits. Establish an offshore private interest foundation: for these reasons the Seychelles are the second most popular jurisdiction in the world and they are the registered domicile for over 400,000 corporations and foundations. Consequently, if you have been considering forming a private foundation in the Seychelles then listed below are some of the processes that you will need to follow in order to legitimately register your own foundation.
NEXT YEAR FROM £600.00
This private foundation establishment in Seychelles package is for customers, who require to establish a private interest foundation in Seychelles with a registered office address, and local council.
The following documents will be sending by post upon the registration of your off-shore foundation:
NEXT YEAR FROM £1,200
This private foundation start-up in Seychelles package is especially for clients, who are requiring establishing a private foundation with a registered address, local council & a nominee founder; bank account upon request.
This Seychelles foundation start-up offer includes everything in the first option, together with the advantages of:
NEXT YEAR FROM £1,700
This is one of the most popular private foundation establishment in Seychelles packages with nominee protector, as an additional option to the nominee founder, local council & registered office address in Seychelles.
This off-shore foundation establishment offer includes everything in the second option, plus the following:
NEXT YEAR FROM £600.00
This is our most comprehensive foundation establishment in Seychelles package with all documents verified by solicitor or notary public & certified by the apostilled stamp or apostille seal affixed.
This Seychelles foundation establishment offer includes everything in the first option, plus:
Forming a private foundation in the Seychelles: since December 2009 it has been possible to form a private foundation in the Seychelles. Often referred to as a "PIF", this legal entity can be created either by a person or a corporation in order to transfer a portion, or all, of their assets to the private foundation.
To register for a private foundation in the Seychelles you will need to present a copy of your passport and a utility bill that is less than 3 months old. Your private foundation will also need to create and file a foundation charter (which will be done by us) with the Public Registry that will need to include the following information:
- The name, domicile and duration of your private foundation
- The initial capital of your private foundation (which must meet the statutorily required Seychelles minimum of US$1.00)
- The names and addresses of each individual that you have elected to be a council member (we can provide a nominee council) of your private foundation (i.e. the individuals who will administer the estate of your private foundation)
- A set of primary objectives that your private foundation will strive to attain
- An explanation of the exact manner in which your private foundation's beneficiaries and founder have been/will be selected (the name(s) of the beneficiary(ies) and a founder does not need to be register with the public records)
- The name and domicile of your private foundation's resident agent
- A protocol that outlines how your private foundation's assets will be used, and how its estate will be liquidated, should your private foundation be dissolved
If you have any further questions regarding how to form a private foundation in the Seychelles please to do not hesitate to contact Coddan today for more targeted information and individually tailored financial support.
Forming a private foundation in Seychelles: there are a number of advantages to setting up a private foundation in the Seychelles, but in order to reap all the benefits, including not having to pay income or capital gains tax, it's important that all the proper documentation is provided, the appropriate fees paid, and the names of the foundation council members, or directors, registered with the public registry.
This is where the experienced team at Coddan can help. We have assisted many clients with forming a private foundation in Seychelles, and can help to make light work of what can often seem a complicated process. To find out how we can help you, please contact the Coddan team today.
Coddan Ltd can help you form a private family foundation in the Seychelles, and in doing so, you can benefit from a financial structure that is almost infinitely preferable to a UK trust. This is because it offers all the benefits of protection from the taxman and outside forces, as well as much greater anonymity.
A private family foundation is one of the newer financial products to be made available in the Seychelles after they were ratified in 2009 under the Foundation Act. Similar in structure to the foundations that were already available in Panama and several other offshore destinations, a Seychelles private family foundation is an excellent vehicle for protecting assets and even maintaining anonymity.
The persons with significant control register has made waves in the UK, and many other territories are cracking down on the use of nominee directors and nominee shareholders, insisting that the figures behind the company are revealed. However, a private family foundation in the Seychelles can hold shares in a company, and the country is famous for protecting the anonymity of its offshore business and foundation owners.
The Seychelles simply does not hand over tax information as it is not signed up to the international treaty regarding tax information sharing. It also has no public registration requirements for owners of a private family foundation.
A foundation is not designed for every day commercial activity and it should remain totally offshore, as in the assets and shares it holds should not be in the Seychelles or a Seychelles-based incorporated offshore company. Nevertheless, observe these rules and a private family foundation is a highly effective vehicle to hold your offshore funds, assets that can include property, title deeds and more, as well as a whole host of other material goods.
Once held within a foundation they become the property of the foundation, which is a separate legal entity. This can therefore be a supremely effective way to protect assets, even from a government agency.
The Seychelles private foundation is a new addition to the Seychelles financial portfolio and is proving an exceptionally popular alternative for those that considered a trust in the UK or elsewhere.
Seychelles private foundations are often used by those that want to run, control and own a company in a foreign country, without owning the corporation in a direct manner due to controls or regulations on disclosure of their identity in their home country. With the PSC register in the UK, this is increasingly relevant and people wishing to avoid their name going on the register could, in theory, exploit the anonymity of a Seychelles private foundation.
It's a separate legal entity that can hold assets like property and shares that then do not form part of the founder's personal estate. It is not intended for ongoing commercial activity on a daily basis, instead it is meant to hold assets, as well as interests in a Seychelles international business company, limited partnerships and Seychelles licensed mutual funds. It can also be a beneficiary of another Seychelles private foundation if you want to be sure of anonymity.
Nominee founders can be appointed in your place and there is no requirement to name the beneficiaries in the foundation charter, so the Seychelles offers the best possible protection and virtually no paper trail back to your door. You can start a private foundation with just US$1.00 in assets, too.
Like a trust, a foundation has beneficiaries, but they have no legal interest in the assets and they do not become the beneficiary's assets until they are distributed in accordance with the foundation's charter. This can ensure that the assets are fully protected from outside interference and even a foreign legal entity cannot make a claim against them when pursuing an individual.
If you have a business in the UK, the US or many other jurisdictions that demand full transparency, a private foundation registered in the Seychelles could prove an effective way of maintaining your anonymity and protecting your interests. If you want to explore the possibilities then get in touch with Coddan Ltd today.
The Seychelles is one of the most business friendly territories in the world, thanks to sweeping privacy laws and a relaxed attitude towards business accounts and registration. There is no corporate tax at all, so there is nothing to investigate for the most part as long as you don’t do business or hold assets in the Seychelles themselves.
The foundation is a new addition to the islands' financial arsenal. They came into being in 2009 and work in a broadly similar way to a UK trust. It becomes its own legal entity, which means it can own property or shares in your company, so it’s possible to transfer all your shares to the foundation and, if it's done right, this should allow for total anonymity.
The UK is determined to expose every beneficial owner and person with significant control. If this works, expect every major European country to follow suit. The Seychelles, though, does not hand over ownership details because there is no public register, so in theory it offers the opportunity for business owners to maintain a level of privacy that simply would not be possible otherwise.
Of course there is still a judgement call to make, as the PSC register insists that anybody with a major influence in the company, whether in the UK or overseas, should make themselves known, and not doing so constitutes a criminal offence.
Deciding where to locate your private foundation can be a real challenge. Many people who want to protect their wealth opt for an offshore location, as it is possible to achieve impressive tax savings and escape much of the bureaucracy and intensive regulation which is a feature of UK and European economies.
Coddan can offer appropriate support and guidance on setting up private foundations in the Seychelles, Panama or Belize, although the Seychelles may provide the best choice in many circumstances.
Low administrative fees: governments normally charge private foundations to remain registered in their domain. In the Seychelles, fees are very reasonable compared with some other countries. We can compare a variety of locations for you, in order to find the one which presents the most cost-effective option.
Very little regulation: private foundations in the Seychelles can legally operate in a variety of different ways, giving plenty of flexibility in structure and composition. Regulatory requirements are light and Coddan has the expertise to enable your foundation to meet all relevant reporting and registration obligations.
Fast registration process: typically the process of transforming your idea for a private foundation into a legal entity takes only a few days when you use the Seychelles as your base. Our advisors can undertake all the initial preparation for you, in line with the requirements of the 2009 Foundation Act. We can act as your agents in any offshore locality, including the Seychelles, providing discreet, professional assistance when needed.
Our experienced team of consultants at Coddan have helped many business people, investors and entrepreneurs to register a private family foundation in the Seychelles, ensuring that all the required documents are presented to the Registrar and the appropriate fees are paid.
The Seychelles is a well regulated jurisdiction - one of the reasons why it has become an increasingly popular place to register these kinds of foundations and other trusts. We can help you to meet all the legal requirements when you register a private family foundation in the Seychelles, so you are able to enjoy all the benefits, knowing that everything has been done as it should be.
One of the local requirements is that every foundation in the Seychelles has to have a council – just as a corporation has to have directors - and the names of the council members have to be listed in the public registry. This is something the Coddan team can assist with. Another legal requirement states that every new foundation must have a legal address, one that appears in the articles of incorporation.
This is another area where we can help by providing a resident agent's address. The Seychelles do all they can to make this an attractive jurisdiction, but do insist on local laws being adhered to both at the point of registering your foundation, and for however long your entity is registered here.
Private family foundations are one of the latest additions to the Seychelles and they provide a good deal of flexibility, as well as privacy. With the UK government's recent drive towards transparency, now is an excellent time to transfer assets to a Seychelles private family foundation and Coddan Ltd can help with the paperwork.
As for the yearly requirements, they are so minimal that it makes a UK trust look positively draconian. No annual audit is required, there is absolutely no need to file annual accounts or an annual return, and there are no annual meeting requirements.
Technically you are required to keep an income and expenditure record at a registered address in the Seychelles, as well as a full record of assets and liabilities.
You will also have to pay an annual fee and have a registered agent in the Seychelles. Checks are almost unheard of, but these are the minimum requirements and we advise our clients to ensure they are adhered to.
With 400,000 companies registered in this group of islands, it is considered one of the most business-friendly regimes in the world. Anonymity is one of the major pluses of opening either an international business company or a private foundation that can hold assets such as property, as long as they aren't in the Seychelles themselves and are in fact designed to skirt inheritance tax and other levies placed on property elsewhere in the world.
Keeping up with the paperwork and reporting requirements once your private family foundation has been formed is often an irksome task. Particularly if you are a busy individual with multiple commitments, finding the time to produce suitable reports, accounting information and other paperwork can be difficult.
Coddan has the expertise to assist with every aspect of your post-incorporation administrative needs, minimising the need to employ additional staff and freeing you from the tiresome burden of bureaucracy.
We offer an initial point of contact: particularly if you live overseas or tend to travel frequently, it's always helpful if there is a point of contact to which enquiries may be addressed. Coddan can provide a postal contact point, as well as being available to answer queries as they arise.
Production of financial summaries, annual reports and progress updates: our professional team can undertake all the necessary administrative and accountancy work your private foundation needs.
All our paperwork is produced to an exceptionally high standard and is beautifully presented. In addition to meeting your reporting needs, we can also undertake your payroll work and book keeping, as well as providing an online virtual reception and office service.
Protect your privacy: at Coddan we understand that many people don't want their connection with a private foundation public knowledge, in order to protect their financial interests from competitors or simply because they value their privacy. We can act as agents on behalf of your foundation, enabling your identity to remain unknown.
Our expert team at Coddan can help you to register a private family foundation in the Seychelles, making sure that all the correct documents are provided, the appropriate fees are paid, and that all the information about your new foundation required by law are duly registered with the registrar in the Seychelles.
The Seychelles is an increasingly popular jurisdiction for offshore investors and entrepreneurs who want to protect their assets and manage their estate more efficiently.
There are many advantages to registering a private family foundation in this part of the world, one of the principal ones being that as soon as the founder transfers assets to the foundation, the assets are fully protected.
This means the assets are safe from any future claims by creditors such as in the case of bankruptcy, and the foundation's books remain 100% confidential. Furthermore, the Seychelles make no reporting requirements or impose taxes on foundations.
Although it's easy to see the benefits a jurisdiction like the Seychelles offers, taking the next step isn't always easy. Setting up a private family foundation offshore is a big commitment, and the accompanying red tape and the way things work on the ground can all seem a bit daunting. This is where our experienced consultants at Coddan can be of service to you.