Seychelles Not File Annual Return

[rowena]

Hello,
I have a Seychelles IBC with EMI and 300k EUR yearly turnover. It looks like filling annual return is mandatory and I need to pay my agency for this also extra paperwork etc.. I don't want to spend time and money on this. What will happen if I told them I had zero turnover and not fill annual return?

Kind Regards

 

[JohnLocke]

From what I have tried nothing will happen, they don't really check it in the Seychelles.

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[Martin Everson]

Nothing will happen as there is no way they can check. I don't even think they would have the resources to investigate anything also.

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[BTCNG]

2 remarks :
a. Guys, are you crazy??? Seychelles are going to get reports of the CRS and the bank account balances of the company will be declared and submitted to the Seychelles tax authorities.
b. BUT if you dont have income deriving from Seychelles itself - you should be off the hook :
https://the-european.eu/story-18207/an-expert-guide-to-new-legislation-in-seychelles.html

 

[JohnLocke]

Yeah much is written on the Internet and much will happen in the Future. I don't believe that they have resources to follow up on all of this as they claim.

Don't even Poland nor Italy have stopped corruption or human trafficking these days, why do you think that the Seychelles nor any of the small Islands and offshore jurisdictions will have enough resources to follow up on all such cases.

At the end of the day they may find some they pick from the sac, but I don't believe that anything else will happen the next 5 - 10 years at least.

That's just my personal experience and thoughts.

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[Martin Everson]

I agree people have got to look at capabilities of the tax authorities on very small islands.

If Seychelles tax man had to chase 200,000 IBC's it registered since 1994 it would be at the IMF for a bail out tomorrow morning 😳

p.s I don't know how many are still registered as of today smi(&%

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Please note my posts should not be taken as financial or tax advice. Please seek professional advice in that respect.

 

[Fly$]

rowena said:
Hello,
I have a Seychelles IBC with EMI and 300k EUR yearly turnover. It looks like filling annual return is mandatory and I need to pay my agency for this also extra paperwork etc.. I don't want to spend time and money on this. What will happen if I told them I had zero turnover and not fill annual return?

Kind Regards
Click to expand...

Witch EMI do you work with? How do you get $$ landing to your personal?

 

[rowena]

Fly$ said:
Witch EMI do you work with? How do you get $$ landing to your personal?
Click to expand...

I am using paysera for this company. Firstly, I send company revenue to my personal Paysera account from the company Paysera account after this I send the money to my bank personal bank account.

 

[JohnSeed]

Fly$ said:
Witch EMI do you work with? How do you get $$ landing to your personal?
Click to expand...

Why do you ask that when OP is asking for annual return filing?