Seychelles companies can now obtain a TIN number

SEYCHELLES COMPANIES CAN NOW OBTAIN A TIN NUMBER

We are pleased to inform you that following recent legislative changes in Seychelles from now on any active Seychelles company with good standing status will be able to obtain a TIN (tax identification number) number.

TIN could be obtained regardless of whether an IBC is conducting part of its activity in Seychelles or not.

Why this matters?

Considering the latest legislative changes in low tax and zero-tax jurisdictions, such as Belize and BVI, where great uncertainty creates significant concerns and issues due to constant changes in banking regulations, Seychelles is now the standout offshore jurisdiction. The TIN number provides certain stability and appeases many banks, as asking for TIN numbers is standard practice in compliance / KYC documents for bank account openings.

In case the company conducts part of its activities in Seychelles it must obtain TIN and in addition to register its business activities with Seychelles Revenue Commission. If the company does not conduct business in Seychelles, obtaining a TIN does not trigger any tax liabilities.

 

How and when can I obtain a TIN number?

It is expected that the option to obtain TIN will be available starting from May 1st, 2019. For efficiency purposes Novasigma, intends to opt for batch filing application process proposed by the Regulator, whereby all IBC companies which intend to obtain TIN numbers will be provided with such automatically.

Important:

  1. In case an IBC chooses to obtain TIN, we kindly ask you to confirm such intention before April 30th, 2019. We bring to your attention that Novasigma will be providing a discounted fee for those IBCs which will confirm their intention to apply for TIN before April 15th, 2019. Please use our contact form to receive the discounted offer;
  2. In case your company is already conducting part of its activities in Seychelles or plans to do so, please advise us accordingly, so we can make the necessary arrangements and register your company for TIN.
  3. Obtaining a TIN does not trigger any tax liabilities in Seychelles. As stated previously the tax liability arises only if the IBC conducts its business activity in Seychelles.

Shall you have any questions we will be happy to assist. Contact us or schedule an appointment.

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