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Aug. 28 — The hardest part about forming an offshore company in the Republic of Seychelles may be coming up with a catchy name.
Luckily for applicants, that can be a multiple choice question.
Seychelles, a nation of islands off the east coast of Africa, is gaining popularity as a tax haven, aided by a dropoff in incorporations in the British Virgin Islands and pushed along by promoters who guide applicants through the process, beginning with buying a “shelf” company that has already been registered with the authorities. The country registered a record-high 20,747 new incorporations in 2013, a 29 percent increase over the prior year, allowing Seychelles to narrow its gap with the front-running BVI, which reported 53,329 new registrations for the year, according to Appleby, a consulting firm for clients with offshore companies.
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