Type of company
limited (ltd)
Registration
Cloud based company is a Seychelles LTD company with IBC Business Registration number and with operational structure at the Qatar tax-free zone.
Stable Tax
Cloud-based companies have a stable tax obligation of 6 EUR per year, regardless of its profit or the turnover. The annual tax is paid directly through the Sky Continent platform.
Corporate Tax
Corporate Tax on profits is subject to 0 % due to TAX FREE zone residency of each Cloud based company.
Personal Tax
Private income received by a shareholder in the form of dividends may be subject to personal taxation in their home tax jurisdiction and is typically declared in the annual personal tax return. We recommend consulting a personal tax advisor for guidance. Seychelles does not apply withholding tax on dividends.
VAT
Cloud Based Companies are not VAT companies and do not issue invoices with VAT, as the reverse charge mechanism applies.
Founder
Founder can be either a Natural person or Another Cloud Based company. Each Cloud Based Company can have up to 100 sub-companies and up to 100 shareholders.
Corporate Seat
Official seat & post resending is provided by the application in Seychelles.
Administration
Qatar Tax Free Zone
Accounting Software
No need for separate software or hiring accountants - everything is built in. Once you upload a bill or invoice, it is automatically integrated into your company’s accounting. Using Sky Continent accounting software, you gain real-time insights into profit and loss, expenses, and cash flow.
Accounting Storage
Sky Continent provides mandatory 7-year electronic document storage on company’s behalf, even after the company’s closure.
Regulatory Director
Sky Continent Management House Ltd. - responsible for preparing and submitting year-end tax returns on behalf of Cloud-Based Companies. The company Director(s) review and confirm the information prior to submission to the relevant tax authority directly through the application.
Registered Agent
Sky Continent Ltd. is responsible for the company’s incorporation, regulatory matters, compliance, issuing and safekeeping of share certificates, validating share transfers, scanning incoming mail, and archiving.
Banking
Sky Continent S.E. is responsible for compliance and regulatory reviews in relation to banking and payment institution partners.
Mobile Application
Directors and shareholders of Cloud-Based Companies may install the Sky Continent mobile application and upload documents, bills, and receipts immediately upon receipt.
Tax Submission
Each Cloud-Based Company pays the annual fixed tax through the application. All obligations, including year-end tax returns and balance sheets, are prepared and submitted to the relevant financial institutions and tax authorities by Sky Continent.
Regulatory Reviews
Government reviews aim to verify that each Cloud-Based Company complies with applicable legal, accounting, tax, and anti-money-laundering obligations. Reviews are handled administratively by the Registered Agent and the Regulatory Director (Sky Continent). Where additional information, documentation, or clarification is required, such requests are communicated to the Acting Directors and Shareholders through the Sky Continent application.
Servers
Sky Continent uses secure systems to store the accounting data of each Cloud-Based Company. All accounting data is backed up weekly. In the event of a cyberattack or other security incident, data can be restored to a version from within the previous 7-day period. Directors and shareholders are therefore advised to retain physical accounting documents (bills, receipts, and invoices) for at least 14 to 30 days after upload.
Monthly App Fee
The monthly app fee is an operational payment automatically deducted from the company’s bank account on the 1st day of each month. The monthly app fee can be prepaid for 1 or more years through the application.
Statutory Pause
A Statutory Pause is a situation in which the company’s online account is temporarily frozen. It may occur in legal circumstances where the company remains without a director for more than 30 days or if the Monthly App Fee remains unpaid for longer than 60 days. To prevent a Statutory Pause, please prepay the Monthly App Fee for a longer period and/or appoint a successor directly in the application.
