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Seychelle company with two french beneficiary

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matlob

New member
Hello everyone,

We are two French people living in France and ready to launch a company that will offer an online crypto currency exchange around the world.
We have carried out research on the different jurisdictions of several countries and it turns out that in Europe, the regulation is not very favorable for startups because it is necessary to obtain a license which is very expensive.

So we looked at what was happening with our competitors, and most of them have their companies based in countries such as the Seychelles, Saint Vincent and the Grenadines, Cayman Islands.
Indeed, after research, these countries do not impose regulations on cryptocurrency service companies, which has the advantage of allowing startups to get started easily (and the disadvantage that some take advantage of it to create scams ... but that is not the subject).

So we would like to create a company in Seychelles, however we are wondering about taxation because we are French residents.
After some research we have concluded these few points but would love your expert advice / corrections:
- It is not necessary to declare that we are beneficiaries of a company in Seychelles.
- All income paid (dividends or salaries) will be taxed in France.
- The profits of the company, which will remain in the company's bank account, do not need to be declared. (We are not sure on this point).

On the last point, we have not found any information on this subject. Is it necessary to declare the profits of the company which are not paid to the beneficiaries?
We would like your confirmation on the few points above if possible :)

Thank you in advance,
Good day,
 

celizo

Mentor Group Gold
A Seychelles company from France as resident in the crypto industry... nai¤% ... le fisc français va devenir votre meilleur ami !
PM si besoin de + de détails ;)
 

matlob

New member
A Seychelles company from France as resident in the crypto industry... nai¤% ... le fisc français va devenir votre meilleur ami !
PM si besoin de + de détails ;)
You will afraid me :) ! Unfortunately, i can not PM you :/ (Maybe you can ?)
 

Konstanz

Entrepreneur
Hello everyone,

We are two French people living in France and ready to launch a company that will offer an online crypto currency exchange around the world.
We have carried out research on the different jurisdictions of several countries and it turns out that in Europe, the regulation is not very favorable for startups because it is necessary to obtain a license which is very expensive.

So we looked at what was happening with our competitors, and most of them have their companies based in countries such as the Seychelles, Saint Vincent and the Grenadines, Cayman Islands.
Indeed, after research, these countries do not impose regulations on cryptocurrency service companies, which has the advantage of allowing startups to get started easily (and the disadvantage that some take advantage of it to create scams ... but that is not the subject).

So we would like to create a company in Seychelles, however we are wondering about taxation because we are French residents.
After some research we have concluded these few points but would love your expert advice / corrections:
- It is not necessary to declare that we are beneficiaries of a company in Seychelles.
- All income paid (dividends or salaries) will be taxed in France.
- The profits of the company, which will remain in the company's bank account, do not need to be declared. (We are not sure on this point).

On the last point, we have not found any information on this subject. Is it necessary to declare the profits of the company which are not paid to the beneficiaries?
We would like your confirmation on the few points above if possible :)

Thank you in advance,
Good day,
Building crypto exchange, but company incorporation in Europe too expensive? Forget it.
Also, Seychelles not possible for French resident, because Seychelle company will be resident in France
 

EuroKiss

Entrepreneur
Seychelles is currently used also for STO, so it should be the best jurisdiction for crypto related business. Kostanz is right, your UBO position should be taken carefully before looking for offshore incorporation.
 

matlob

New member
Building crypto exchange, but company incorporation in Europe too expensive? Forget it.
Also, Seychelles not possible for French resident, because Seychelle company will be resident in France
Thank you for your reply.
So, I think the best solution is to raise fund and get license in EU.
But the problem will not be the same with a company in another country in EU ?

Seychelles is currently used also for STO, so it should be the best jurisdiction for crypto related business. Kostanz is right, your UBO position should be taken carefully before looking for offshore incorporation.
Thank you for your reply.
Yes, that's why a lot of company in this sector are in Seychelle.
That's right for UBO. What solution would you recommend us in our situation ?
 

EuroKiss

Entrepreneur
Thank you for your reply.
Yes, that's why a lot of company in this sector are in Seychelle.
That's right for UBO. What solution would you recommend us in our situation ?
Be my guest. I am not the most qualified person to give advices about this topic, in fact I am looking for a similar solution for a crypto vc. Till now what I saw is that Seychelles is the most used offshore infrastructure for crypto biz in general, including the most “suspicious” part that are the STO.
Besides that, if your partner and you live in France, you will be always accountable for tax in France, unless a sophisticated - and costly - solution can be drafted by a skilled legal office (that’s why Elon or Jeff or Bill do not pay any tax even when living in the USA).
 

celizo

Mentor Group Gold
Expatriation is the first good decision to take.
I don't want to share details here publicly about me, but I was nearly in the same situation a few years back.
Even if you want to be honest, legal, pay your taxes, ... in France, you will be annoyed (due to : crypto sector industry, licence/juridisction of your business)
 
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