Seychelles is one of the upper middle class economies of the world. The economy mainly depends upon tourism and the fishing sector. The employment, foreign earnings, construction, banking and commerce is mainly depended on these two sectors. The government implemented several measures to liberalize the economy in 2005 – 06.The steps taken were to liberalize the trade regime, privatization of the state owned entities and the liberalization of the restrictions on foreign trade. Though these measures were taken they were limited in their outlook and thus were insufficient to address longstanding macroeconomic imbalances and vulnerabilities.
Seychelles’ foreign trade policy aims at promoting an interdependent trade regime. Seychelles is a member of the regional tradingblocks such as COMESA, SADC, IOC and also the multilateral trade regime that is the WTO.
|Form of government:||Presidential Republic|
|Official languages:||French, English, Creole|
|Currency:||Seychellois Rupee (SCR)|
|Time zone:||UTC +4|
|Life expectancy:||Female 78.98 years, Males 69.66 years|
|GDP (PPP):||$1,427 billion (2017)|
|GDP (PPP)/per capita:||$13,997, (2017)|
|Economy:||Agriculture and primary production 20 %, Retail and travel 50%, Financial services 22%|
Who can start a new business in Seychelles:
Who can own property or shares of Seychelles company:
Who can act as a director or member of the board:
Business entities in Seychelles
Reguirements to incorporate in Seychelles:
Opening a bank account:
Public register of shareholders and directors:
Accounting and reporting regulations in Seychelles:
How funds can be withdrawn from company?
Can you transfer Seychelles company to another jurisdiction?
How to terminate business in Seychelles?
|Overall rank:||rank 85 (+2 since 2014)|
|- Starting a business:||rank 127 (Average processing time 38 days)|
|- Dealing with construction permits:||rank 48 (Average processing time 119 days)|
|- Getting electricity:||rank 89 (Average installation time 137 days)|
|- Registering property:||rank 78 (Average processing time 33 time)|
|- Getting credit:||rank 171|
|- Protecting minority Investors:||rank 56|
|- Paying taxes:||rank 43 (Average company tax from profits 31.68%, average time used for taxation 88 hours year)|
|- Trading across borders:||rank 42|
|- Enforcing contracts:||rank 103 (Average 915 days, Average cost from standing amount 15.4%)|
|- Resolving Insolvency:||rank61 (Average time processing bankcruptcy: 2 years)|
New businesses registered in 2012: No public information
There are no visa regulations in place to enter Seychelles for up to three months; this visitor permit is renewable, not exceeding three months at each renewal, for a maximum of twelve months. Conditions state that foreigner:
– is not a prohibited immigrant; and
– is not holder of a valid permit which entitles that holder to reside in Seychelles.
– holds a valid return or onward ticket for duration of visit;
– has confirmed accommodation;
– has sufficient funds for duration of the stay. (Minimum of US$ 150.00 or equivalent per day.
Expats will have to obtain a residence permit, or a Gainful Occupation Permit GOP, to stay in the country for an extended period and also take up employment. The application can be done by the expat, in case they are self-employed, or the Seychelles employer at the Director General of Immigration. For detailed information please visit the Seychelles Ministry of Foreign Affairs Website >>
Seychelles is made of 115 islands, however only those in Inner Seychelles are inhabited. The most populated of these is Mahe. It has 90% of the population and is also where the largest aiport is located. Within Mahe, expats would definitely settle in the capital Victoria. Time has seemingly stood still in Victoria as most infrastructures are colonial.
Tour sites are plentiful in the city. Getting around is also relatively easy, and at times wouldn’t need a car. Locals here like to use bikes to get to places. Given the touristy nature of Victoria, and Seychelles in general, apartment rentals can be considered steep, with rent prices starting $400 a month for a single bedroom unit.
Foreigners may use their domestic license and an international license to drive legally in Seychelles for up to 3 months. Beyond this, for legal residents, they will have to obtain a Seychelles license through the Seychelles Licensing.
International School Seychelles
ISS delivers a strong British-based curricular programme from the Early Years to the Sixth Form and a tradition of academic success; a broad range of enrichment and enhancement opportunities for students – who are incredible young people from a kaleidoscope of different nationalities and backgrounds; experienced staff who are dedicated to their students; and parents who truly care about the school and are always keen to give help and support. These combine to create a vibrant multi-national community of learners within the wonderful culture and setting that is the Seychelles.
Address: PO Box 315, Mont Fleuri, Victoria, Mahé, Seychelles
Seychelles Polytechnic offers post-secondary education and training programmes at Certificate/Diploma/Advanced Level.
Address: P.O Box 77, Anse Royale, Mahe, Seychelles
The healthcare facilities in Seychelles is limited to the major islands; beyond these it can be few or non-existent. The government provides free healthcare to all residents. Yellow fever is prevalent, expats are urged to get precautionary vaccinations before travel.
|Overall rank:||66 (58/100 points)|
|- Property:||50/100 points|
|- Taxes:||77/100 points|
|- Speech:||69/100 points|
|- Government:||62/100 points|
|- Guns:||50/100 points|
|- Drugs:||20/100 points|
|- Corruption:||54/100 points|
|- Inflation:||75/100 points|
|- Business:||68/100 points|
|Taxable income||0% / 1,5% / 33%|
|Taxation of divident||-|
|VAT registration||Not applicable|
|Tax at source||0%|
|- Technical services||0%|
|capital gains tax||Treated as normal income. Taxable only on dividents|
|Real property tax||0%|
|Tax treaties||No tax treaties|
|CFC (Controlled Foreign Company) rule||not applicable|
Services for corporations interested in Seychelles
For corporations operating in Seychelles
For individuals and families interested in Seychelles
For individuals and families who hold the Seychelles residency
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