International companies in Seychelles do have to maintain accounting records, although these accounts are not on the public record in Seychelles. This is to comply with international rules to prevent money laundering, to avoid any doubts which may arise between shareholders of a Seychelles company. A client needs to contract an accountant on day one of the company's existence, to comply with the directors' responsibility to keep a good account of the company affairs.
Our comprehensive accountancy service combines compliance with the production of the company’s accounts.
Annual accounts need to be compiled, signed by the directors and approved by the shareholders.
Therefore, a Seychelles company needs to keep details of:
Every Seychelles company incorporated under the Companies Act, shall by 31st December of each year furnish to the Registered Agent a return in the form of a declaration that: The company is keeping accounting records in accordance with the Act. Failure to comply with the requirement of the amended Act will result in fine and penalties for as long as the non compliance persists.
Accounts for a Seychelles company must show details of:
The Seychelles is compliant with OECD requirements to meet international standards to protect against crime and terrorism.
The OECD have an initiative on Harmful Tax Practices, and have produced a white list of countries that comply with these rules, Seychelles has complied with these rules.
We will compile accounts based on UK accounting standards, these standards are used internationally.
Where the company is trading; the financial statements would include a Balance Sheet: with notes showing the valuation of assets, A Profit and Loss Account or an Income and Expenditure Account in some cases, notes recording accounting policies and what assets are valued and a Directors' Report.