Official liquidation of a company in the Seychelles

Official liquidation of a company in the Seychelles

When registering business in offshore zones, the overwhelming majority of entrepreneurs do not attach importance to the issue of its possible liquidation (as there is a mistaken opinion that the opening of an offshore company is a guaranteed guarantee of its further successful development). And therefore, faced with the need (or inevitability) of liquidating their business, its owners often make certain mistakes that lead to significant losses of their own capital (not counting the assets of the company itself). The information provided in this article will reveal the main aspects of the official liquidation of a company in the Seychelles

The main methods of liquidation of enterprises in the Seychelles

To date, the Seychelles law provides for the following methods for carrying out this operation – by force and voluntarily. Next we look at each method separately.

Forced liquidation of a company

This method of liquidation of companies is applied to those objects of entrepreneurial activity that are under arrears to the company’s registered agent for a period of more than one calendar year. After 12 months, the company will be deleted from the Register of Entrepreneurial Objects registered in the Seychelles. The subsequent liquidation of this company will be carried out by a court decision (and in this case, the owners of the company are unlikely to avoid all the attendant negative consequences associated with the forced liquidation).

Voluntary liquidation of the company

In comparison with compulsory liquidation, this method is a much more advantageous variant of solving such a problem, since there are no negative consequences associated with the legal proceedings inherent in the first method. It is used in cases when a company needs to be liquidated as soon as possible, while maintaining the maximum amount of corporate property (capital, etc.).
List of requirements for companies subject to liquidation
The current legislation of the Seychelles currently imposes on the liquidated companies the following list of mandatory requirements:

• The presence of a positive status in the object of business
• No debt to the registration agent of the company.
• The company is obliged to fully comply with all criteria for business facilities, the operation of which in the territory of this country is allowed by the current legislation of the Seychelles.
• Important! Liquidation of the company is allowed only when the firm fully complies with all the criteria that were given above.

List of documents required for the elimination of business objects in the Seychelles

For its liquidation, the beneficiary of the company is required to submit the following documents to the relevant regulatory authorities:

• IDs of the beneficiaries (it is allowed to provide a notarized copy of the passport data of the company owner).
• Confirmation of the permanent residence address of the owner of the company (permanent residence).
• Declaration of the owners of the company, which was signed by the owner of the company (or all beneficiaries).
• A document describing the scope of the company.
• The certificate, which indicates the storage address of the accounting of the business object.

If you need to liquidate an offshore company in the Seychelles – order the services of our lawyers. The specialists of our company are highly qualified professionals in the field of international financial affairs. We will undertake the preparation of all the necessary documents, negotiations with the relevant authorities, as well as provide full support at all stages of the liquidation of the company.