India & Seychelles Sign Tax Information Exchange Agreement

According to an announcement by the Indian Government’s information bureau, the Indian Cabinet has approved the signing of a tax information exchange agreement between India and Seychelles.


The agreement will enable the Competent Authorities of India and Seychelles to provide assistance through exchange of information that is foreseeably relevant to the administration and enforcement of the domestic laws of two countries concerning taxes covered by the agreement.


Information received under the agreement is to be treated as confidential and may be disclosed only to persons or authorities (including courts or administrative bodies) concerned with assessment, collection, enforcement, prosecution, or determination of appeals, in relation to taxes covered under the agreement. Information may be disclosed to any other person or entity or authority or jurisdiction with the prior written consent of the country sending the information.


The agreement also provides for a Mutual Agreement Procedure for resolving any difference or for agreeing on procedures under the agreement.


The agreement will enter into force on the date of notification of completion of procedures required by the respective laws of the two countries.


India has signed similar bilateral agreements for Exchange of Tax Information with Argentina, Bahamas, Bahrain, Belize, Bermuda, British Virgin Islands, Cayman Islands, Gibraltar, Guernsey, Isle of Man, Jersey, Liberia, Liechtenstein, Macao, Monaco and San Marino.


For Indian citizens/tax residents wanting to do tax effective business Internationally (and/or for whom privacy is a concern) the following Company jurisdictions should be considered (and if you have a Seychelles Company presently you would be wise to forthwith migrate/redomicile it to one of the below referred jurisdictions):




Samoan International Companies


Samoa (formerly Western Samoa) is a group of lush tropical islands in the middle of the South Pacific, located approximately halfway between Hawaii and Sydney Australia, is 2,842 sq. km in size and with a population of circa 215,000. The legal system of Samoa is based on English Common Law and includes a sizeble body of New Zealand statute law, on account of New Zealand having administrative power over Samoa prior to independence. Whilst local Polynesian is the predominant first tongue English is the language of Government and Commerce.


The Samoan International Companies Act passed in 1987 provides for the incorporation of Samoa international companies, the redomiciliation to Samoa of existing companies, and for the incorporation of U.S. style limited life companies. With a solid Corporate Law, a history of political stability since independence and a sophisticated international satellite telecommunication system Samoa is a popular location for incorporation of tax free International Business Companies.


Feature and Benefits of Samoan International Companies Include:



  • Nil Corporation or Business Tax is levied
  • Chinese character names may be registered.
  • Chinese character memorandum and articles of association may be filed.
  • An international company is not required to have a share capital (“Creditor Controlled” companies).
  • There is no minimum share capital requirement or capital duty on share capital.
  • Fully paid registered shares may be issued as bearer shares transferable by delivery.
  • Fully paid registered shares or bearer shares may be exchanged for share warrants to bearer, also transferable by delivery.
  • Redemption of shares and reductions of capital can be effected simply and quickly and without the necessity of a court order.
  • A company may finance the purchase of its own shares.
  • A company may repurchase and cancel its own shares.
  • Company registration may be for periods of one, five, ten or twenty years in advance, with discounted fees (annual registration renewals are due on 30 November).
  • In the absence of a public offer, shareholders can resolve not to have the accounts audited and not to hold annual general meetings.
  • Annual returns do not have to be filed.
  • Only one director and one shareholder is required.
  • Particulars of directors and secretaries do not have to be filed.
  • Accounts do not have to be filed.
  • Provision can be made for alteration of the memorandum and articles of association by directors’ resolution.
  • Meetings may be held by telephone, closed circuit television or other audio or audio-visual means.
  • Annual meetings are not required, but if held, need not be held in Samoa.
  • Directors’ and shareholders’ resolutions may be passed by circulating written resolutions (including facsimile copies) for signing.
  • An international company need not have directors resident in Samoa.
  • The use of a common seal is optional for execution of documents.
  • The Companies office is subject to strict confidentiality provisions.
  • Companies can be redomiciled into or out of Samoa.
  • Companies can be liquidated. There is also a straight forward striking-off procedure.
  • Speedy Incorporation – 2 to 3 days max
  • Has not signed Tax Information Exchange agreements with either the US or the UK (and only with no EU members save for The Netherlands & Ireland)


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