Republic of Seychelles Islands - this is an island state, which is located on the Seychelles and Amaranths Island, in the western part of Indian Ocean, in the eastern Africa, to the south of equator and to the north-east of Madagascar. Seychelles comprise of 115 islandы of volcanic and coral origin. Population is about 80 thousand people.
Seychelles is the Democratic President Republic, member of Commonwealth states. The President is elected by nation-wide voting for 5 years. The highest legislative body - National Assembly.
Being one of the most exclusive and beautiful destinations, the main income to the budget of Seychelles comes from its tourist industry (more than 20% contribution to GDP and 60% of the whole incoming of foreign currency into the country).
For the recent few years the Government has been focusing on the development of other sectors of economy such as fishing, agriculture and financial sector. Such development allows to make Seychelles an attractive place for foreign investments.
The experts by right consider Seychelles one of the most secure and safe countries for investing and international business. The most telling arguments to invest into Seychelles are increasing GDP, stable political situation, qualified staff speaking in two languages, good communication system, favourable tax climate and many other advantages.
Government encourages any investment in the economy and considers each project individually. The list of investment opportunities is quite large. There are investment into fishing, oil-field exploration/ tourism and bank sector.
The most attractive from perspective point of view are investments into infrastructure, namely into reclaiming land and development of the outer islands, construction and reconstruction of ports, airports and other public infrastructure.
Investment into banking sector is also increasing.
Investors can use Seychelles as an International Trade Zone (SITZ), which offers great opportunities for reexportation of goods.
It can be used especially for reexporting to African Continent. Seychelles are trade gateway to Africa.
Financial Services (Banking sector).
Banking sector is one of the priority sphere of the economy on the list. According to the recent amendments only one banking license is required for onshore and offshore banking activities. The license is granted by Central bank of Seychelles (CBS).
Seychelles International Trade Zone (SITZ)
SITZ is regulated by Seychelles Financial Services Authority (FSA).
SITZ offers possibility to redistribute goods for further reexporting. The most attractive part of this activity as it is a good gateway to African Market.
Seychelles are the members of COMESA, SADC and IOC. This membership guarantees access to the markets with the population of 700 million people and with USD1.2 milliard GDP In total. Seychelles has also 5 DTA agreements signed with the countries of COMESA и SADK. There are also some negotiations in the process in regards to signing other mutually profitable agreements.
Seychelles are considered to be unique islands as well as they are the only group of small granitic islands being discovered amidst the ocean.
Sometimes people call them as micro continent. There are sedimentary basins with high content of carbohydrates not far from the shores of Seychelles.
It was confirmed the existence of all necessary conditions, sources of crustal rocks, rock stratums, insulating courses and structures. Nowadays two petroleum companies investigate in total 36 000 square kilometers of the sea bottom.
We have already started the procedure of licensing for transfer of the offshore blocks at the coast of Seychelles.
IT and Сommunication Technologies
Not so long ago Seychelles were wired with fibre-optic cable. As a result the activity in this sector became as top priority.
The Council and Department of Communications and IT technologies (DICT) hereby consider that Seychelles have the right for creation of their own centre of data processing. In evidence of other arguments Seychelles are considered to be the islands with low expectancy of earthquakes and other cataclysms, as well as a jurisdiction with traditional political stability, low risks of acts of terrorism on the part of Maple Croft as well as relative stability of the economic climate of Seychelles – ex. in the last few years GDP growth is on the average 4,5%.Seychelles can be proud of adequate legal structure and as a result it makes possible to do such a business.
Commercial fishing is one of the most top-priority business activities in Seychelles. However the government is interested in the development of other sectors of processing industry which shall give another solution for processing of raw materials to replace the ones being used in processing of tunas nowadays.
It should be noted that some plots of land have been allotted for this business activity.
Tourism sector is one of the most popular sectors of the economy of Seychelles.
Geography of investors to the economy of Seychelles is highly big. It should be noted that many of the present international projects belong to businessmen from Russian Federation and Ukraine.
Here we mean already existing projects in the sphere of restaurant business, financial services, boat charter and hotel business. At the present moment there are significant projects in fishing industry.
What investment advantages Seychelles have? Why Seychelles are attractive for foreign Investors?
1. A stable political environment and favorable time zone of +4 GMT
2. Government policy supporting both domestic and foreign investments
3. Ideal location for trading and manufacturing
4. Skilled labor force fluent in English, French and Creole
5. 96% adult literacy rate and a life expectancy of 77 years old
6. Sea and air connectivity from all over the world
7. Work permit easily available and no visa is required
8. High environmental standards
9. Excellent communications network with the connectivity of fibre optic cable and superb IT infrastructure
10. Favorable tax regimes for investment in the Tourism, Agriculture, Energy and Fisheries sectors and a World class financial centre with no foreign exchange restrictions
11. Multi-racial population
12. Located outside the cyclone belt.
If you are considering Seychelles as one of the destinations for development of your business you definitely need to attend the Forum. Here you will receive all the information from the primary source. You will have the opportunity to meet representatives of the Government and private business of Seychelles. This is not only the way to enlarge your contact horizons but the best opportunity to enjoy the beauty of the Seychelles Archipelago.
To get more detailed information please follow the link www.seyru.ru
Registration and accreditation of the participants is done by Seychelles Investment Board.
Tel (english line): +248 438 2000
Registration will be confirmed by the organisers upon receipt of the registartion application.
Looking forward to see you on 9-10 October at SRBF in the Seychelles