Why invest in Seychelles?
Seychelles is a country with profound and strategic location favorable for investments. Amidst the Southwestern Indian Ocean, Seychelles offers political stability with appropriate administrative and established legal frameworks. These features leave no doubt fro Seychelles as an ideal investment destination for stern investors willing to cater to European, African, Asian and definitely the local markets. The global competitiveness and incentive packages and concessions awaiting suitable traders and businesses further invite investors to Seychelles.

Cyclones and other natural disasters are a bit of a worry in Seychelles, being located outside the cyclone belt. The convenient time zone of which overlap the working hours of major financial centers, is an excellent sea and air connections with Asia, USA, Europe, and Africa, making it an excellent location to conduct business.

Its telecommunication facilities (internet access and domestic as well as international calls) as well as well-developed transportation (Port Victoria and international flights) system provide an array of advantages that supports the attractive investment incentives facilities. These infrastructures provide a perfectly crafted support and an ideal environment to investors.

Finally, the government has set up a structure in July 2004, the Seychelles Investment Bureau (SIB) as an access point regarding all matters with regards investment and trade in Seychelles. SIB aims to promote Seychelles as a convenient and lucrative environment for business, encourage an investor-friendly culture and help investors create and expand their respective ventures. Interested investors who prefer more details can visit www.sib.gov.sc. An e-brochure is available to download for a summary and/or full version of the section About Seychelles.

The main activities of SIB include:
• Promoting an enhanced awareness on Seychelles, both domestic and international, as a perfect location for investments or ventures as well as encourage investment to opportunities in all sectors of the economy
• Offer services that facilitate the access of investors by standing as the focal point of contact between local and foreign capitalists including private/government organizations.
• Facilitate the approval of proposals for investment with efficiency for Government deliberation
• Conduct research as well as provide recommendations on matters related to investment.

What are some of the key features of the new investment code in Seychelles?
The government of Seychelles put more effort to rationalize the existing raft of business and investment laws by commencing a new investment code. The law was enacted by the National Assembly by end of November 2005 still carries restrictions that exist on foreign investments in selected sectors however seeks provide transparency of the whole process.

The sectors reserved for domestic investors are various parts of fishing, tourism, agriculture and probably the provision of internet services. Specifically, hotels and guest houses with rooms lesser than ten may be restricted for Seychellois interests. This includes other small scale enterprises like construction that are dominated by the locals.

The government declared though that foreign investments shall be encouraged to what they classify as “strategic sectors”, which includes water, telecommunications, power and mining industries. Furthermore, operating within the Seychelles International Trade Zone will exempt or avoid foreign companies from any restrictions.

The law has also defined a process for resolving conflicts that arise between the government and foreign investors. A clause in the new investment code guarantees before the law to foreign capitalists ensuring equal tax and legal treatment with local firms as well as protection of their property. The code provides further that foreign companies are afforded the right to expatriate their profits, whether in foreign or local currency.

The features offered by the new code are hopefully measures to overcome the major obstacles and concerns that have been discouraging foreign companies that also persist in the rest of Africa. In Seychelles, although the GDP per capita is relatively high, the economy remains to depend highly on tourist revenues whereby the new law is a hope of the government to create a balanced economy.