Nov 17 2011
1. What is a Seychelles Foundation?
A Seychelles Foundation is a corporate alternative to the creation of a trust. Once formed it becomes its own legal entity. For a Seychelles Foundation to come into existence, it requires a “Founder” who is the person or Corporate body forming the Foundation, a “Protector” who is required to ensure management compliance in a similar way to how a trust operates, and a “Beneficiary” like the concept of a trust, is the person or group of persons benefiting from the Foundation and finally there is a requirement for “Council Members”.
There are however, no requirements for shareholders as in a company.
A Seychelles Foundation is a new legal entity, taking on its own legal personality. As such the Foundation becomes the owner of the Foundation’s property. Foundations are able to own multiple companies or corporations, assets, shares in companies and can leave instructions to be carried out in the same way as a Trust can. Such wishes will be included in the Foundation Regulations. This document is neither registered with any authorities in Seychelles or elsewhere nor is available to the public, thereby ensuring the utmost confidentiality in these details.
2. Why create a Seychelles Foundation?
A Seychelles Foundation is a highly recommendable step to take in determining the protection of your assets. It boasts a reputation for high levels of security and confidential legislation.
The Seychelles Offshore environment allows for structuring flexibility when it comes to forming foundations, such as the avoidance of reporting and auditing to external government agencies.
3. Types of Seychelles Foundations
(a) Public Foundations: these are established by families, groups, etc.
(b) Private Foundations: these are established by individuals, generally these are private investment foundations.
(c) Government Foundations.
(d) Hybrid Foundations: these can be established by any of the above.
Register foundation with Startupr.