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Accounting and Bookkeeping in the Seychelles

Use our accounting and bookkeeping services to stay compliant with local Seychelles laws and gain a true financial understanding of your business.

Included in the package

Gives you a complete financial picture

Included in the package

Ease in annual filings and renewals

Included in the package

All-in-one package for compliance needs

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Accounting and Bookkeeping in the Seychelles

Registered Agent Service

Remote

Remote

Accounting and bookkeeping solutions are done remotely.

Privacy

Privacy

Worry-free financial privacy with our strict internal controls.

Compliance

Compliance

Comply with regulatory needs and annual form filings.

Affordable

Affordable

Professional bookkeeping service at a very low cost.

What is accounting and bookkeeping?

In the simplest of terms, bookkeeping is the process of recording of financial transactions whereas accounting is the process of interpreting, classifying, analyzing, reporting, and summarizing the financial data.

  • Managing your finances is foundational to any business. Gain visibility on your business by getting your books done with accuracy.

  • Streamlines your financial management. An expert team at your disposal - so that you can stay focused on business growth.

  • Transparent, all-inclusive pricing with no surprises, where you pay only for company expenses, not transaction volume.

ADVANTAGES

Accounting and bookkeeping for offshore companies

Find out the benefits and reasons to undertake accounting and bookkeeping for your Seychelles offshore company

It Might be Mandatory

It Might be Mandatory

Our services ensure compliance with legal standards, keeping accurate records to meet regulatory requirements and avoid penalties, and ensuring accurate financial records for certain industry types in the Seychelles.

Enhanced Privacy

Enhanced Privacy

Our rigorous privacy policies and technological measures safeguard your financial data, providing peace of mind and the highest level of confidentiality with strict internal controls and data protection protocols.

Financial Picture

Financial Picture

Accurate accounting and bookkeeping practices offer insights into revenue, expenses, profits, and other important metrics, empowering informed decisions and strategic plans for the growth and efficiency of your business.

Professional Expertise

Professional Expertise

Our team brings extensive industry experience and expertise to handle complex financial matters, ensuring accuracy, compliance, and efficiency in managing your financial statements and accounting records for your business.

Document Registers

Document Registers

The Seychelles mandates maintaining active accounting records; our services handle complexities, ensuring compliance with legal requirements for seamless offshore company operations, and everything remotely for you.

Peace of Mind

Peace of Mind

With our expert guidance and proactive solutions, we navigate the dynamic business and regulatory environment confidently, focusing on core operations while efficiently addressing your accounting and bookkeeping needs.

PARTNERS

Are you a professional?

Attorneys, lawyers, finance professionals, investment advisors, and other professionals supporting clients with offshore formations and compliance: We can help you simplify processes and enhance client satisfaction.

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FAQ

Frequently Asked Questions

Find answers to frequently asked questions on accounting and bookkeeping for Seychelles offshore company formation and ongoing management

What are the accounting requirements for a Seychelles offshore company?

Seychelles offshore companies are required to maintain accurate accounting records reflecting their financial transactions, although there's no statutory requirement to file financial statements with authorities and specific accounting standards aren't mandated. However, adhering to international accounting standards is advisable for transparency and best practices.

Do I need to appoint an auditor for my Seychelles company?

Generally, Seychelles offshore companies are not obligated to appoint auditors. However, circumstances stipulated in the company's articles of association or by shareholders may require it. Additionally, specific situations or regulatory demands may necessitate an audit, such as applying for licenses or engaging in regulated activities.

What are the tax implications for accounting and bookkeeping in the Seychelles?

Seychelles offshore companies benefit from a tax-neutral environment with no corporate income tax, capital gains tax, or withholding tax on dividends, interest, or royalties. Therefore, there are no direct tax implications for accounting and bookkeeping. Nonetheless, proper records must be maintained to comply with local regulations and international standards, demonstrating economic substance and facilitating transparency.

Can I outsource my accounting and bookkeeping tasks of my Seychelles company?

Yes, outsourcing accounting and bookkeeping tasks is common practice for Seychelles offshore companies. Many opt to engage accounting experts or specialized firms like Vepapu. Outsourcing can streamline operations, ensure regulatory compliance, and provide access to international tax and accounting expertise.

What are the best practices for maintaining accounting records for a company in the Seychelles?

Best practices include detailed record-keeping of financial transactions, proper documentation for income and expenses, regular bank statement reconciliation, and robust internal controls. Segregating personal and business finances, conducting periodic financial reviews, and ensuring compliance with laws and regulations are essential. Documents to retain include invoices, receipts, bank statements, financial statements, tax records, and contracts.

How often should I update my accounting records for my Seychelles offshore company?

Regular updates are crucial for maintaining accurate financial information and regulatory compliance. Updates should be prompt for each financial transaction, with regular account reconciliation and periodic reviews to identify discrepancies. The frequency may vary based on transaction volume and operational complexity.

What are the implications of non-compliance with accounting and bookkeeping regulations for my company in the Seychelles?

Non-compliance may lead to penalties, fines, reputational damage, and legal consequences. It can result in regulatory scrutiny, enforcement actions, or the dissolution of the company. Maintaining accurate records, submitting required reports, and adhering to international standards are vital to mitigating risks and upholding the company's integrity.

Can I deduct business expenses for tax purposes in the Seychelles?

Though Seychelles doesn't impose corporate income tax, legitimate business expenses can typically be deducted. These include costs directly related to generating income or conducting business activities, like operating expenses, professional fees, marketing costs, and employee salaries.

What are the implications of international accounting standards in the Seychelles?

Adopting international standards enhances financial transparency, comparability, and credibility, facilitating access to global capital markets, attracting investors, and fostering confidence. Companies may choose standards like IFRS or GAAP to prepare financial statements, ensuring compliance with recognized accounting standards.

Can I use accounting software to manage my Seychelles company's finances?

Yes, using accounting software is advisable for managing finances. Many solutions offer features tailored to international business needs, including multi-currency support, automated bookkeeping processes, and customizable reporting functionalities, enhancing efficiency and compliance.

What role do accounting and bookkeeping play in due diligence processes for Seychelles companies?

Accounting and bookkeeping play a critical role in due diligence processes for offshore companies in the Seychelles by providing valuable insights into the financial health, stability, and compliance of the business. During due diligence, potential investors, lenders, or business partners carefully review the company's financial records to assess its viability and mitigate risks.

How do you maintain confidentiality & privacy regarding my Seychelles company's financial information?

To maintain confidentiality and privacy, we have implemented robust cybersecurity measures and a strict data protection policy, and restricting access to authorized personnel can also safeguard against unauthorized disclosure or breaches of confidentiality.

Access Controls: We implement strict access controls, limiting access to your financial data only to authorized personnel who require it for their designated tasks.
Regular Audits: We conduct regular internal audits of our systems and procedures to identify and address any potential security vulnerabilities.
Secure Communication Channels: We utilize secure communication channels for all data transmissions, minimizing the risk of interception during communication.
By employing these comprehensive security measures, we strive to provide you with complete peace of mind regarding the safety and confidentiality of your offshore company's financial data.

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Get in touch and ask us anything. Is bookkeeping mandatory in the Seychelles or how do I submit invoices?
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