Seychelles Living

Comprising about 115 islands, the Seychelles is an independent republic located in the Indian Ocean. Three languages, namely, English, French and Seychellois Creole are spoken in the Seychelles. Countries surrounding the group of Seychelles islands include Madagascar, Reunion, Kenya and Zanzibar.

The inner islands of the Seychelles are grouped into a total of 25 administrative regions. The capital of Seychelles is Greater Victoria which has 8 districts. 14 other districts of the Seychelles are rural districts belonging to Mahé which is the main island. Two other districts are located on Praslin and a final on La Dingue and comprise other islands. The Outer Islands do not belong to any district.

Portuguese seamen were the first set of Europeans that were recorded as having officially sighted the Seychelles for the first time, though Arab traders may have visited the islands during their voyages before the arrival of the Portuguese. The Seychelles were frequently used as a point of transit by pirates who traded between Asia and Africa. In 1756, French control of the Seychelles was initiated by Captain Nicholas Morphey laid a Stone of Possession. After several years of battle for control over the Seychelles, control of the islands was conceded to the British under the Treaty of Paris in 1814. In 1812, Mauritius was handed over to the French by the British before full control was assumed. In 1903, the Seychelles was formally declared a crown colony, gained independence in 1976 and became a member of the Commonwealth of Nations in 1977. The Seychelles later joined La Francophone and the Indian Ocean Commission (IOC).

No indigenous population was recorded to have inhabited the island and as a result native Seychellois are French, Indian, Chinese and African ethnic groups. Cultural expression in the Seychelles islands is diverse due to different cultural influences whilst traditional; dances and music range from folk music to African soukous, English polka, French pop and Mauritian taarab. Contombley, Kenyan benga and Moutya are popular native folk rhythms as well.

Elections in Seychelles take place every five years. The President is elected by popular vote and is both head of government and head of state. The current president is James Michel, who was former vice president to France Albert Rene, who, in 1977 became president following the 1977 coup d’état, but was democratically chosen for president in 1994. There are two main political parties in Seychelles, The Seychelles National Party (SNP) and the Seychelles People’s Progressive Front (SPPF).

Tourism has been the main economic activity of the Seychelles islands. Roughly 30% of Seychellois are employed in the tourism sector and over 70% of the country’s revenue. Tuna fishing is the next main economic activity of the Seychelles. Ways to diversify the Seychellois economy were sought by providing incentives for foreign investment in hotels, professional and technical services and real estate. Investment in manufacturing, farming and offshore financial services aim to lessen dependence on the tourism sector.

The projects that have been identified promise development in infrastructure, job creation and the opening up of new economic sectors in the Seychelles. To learn how to incorporate in Seychelles and access other specialized services such as dual nationality programs by way of investment contributions, we provide an experienced team of professionals that can be contacted via the contact us page. Information on dual nationality and how benefits are derived is provided along with help with application procedures and regulations.

As a tax haven the Seychelles islands have a lot to offer to international business. Seychelles is favored by investors due to the status that has been developed as an established and reputable jurisdiction. Offshore products and services promoted in Seychelles are flexible and adaptable and prove beneficial with regard to structuring, managing and conducting business or pursuing personal interests. Our firm collaborates with other incorporators and approved agents who are in the business of creating opportunities for wealth management and tax free structures. This also extends to second citizenship passport programs which operate by enabling overseas residents to invest in their countries by meeting certain investment conditions and application requirements such as due diligence. For information on such second passport programs as well other offshore company services such as Belize company, shelf companies and Limited Liability Partnerships registered in the UK, feel free to contact us. Seychelles’ maturity as a tax haven is shown in the array of offshore entities and facilities such as International Business Companies, Protected Cell Companies, Limited Partnerships, Mutual and Hedge Funds, Offshore Insurance, International Trusts, Offshore Banking, International Trade Zones, Ship and Yacht Registration and Company Special Licenses.

Seychelles has international trade zones which deal with the licensing of specialist, redistribution, management and manufacturing companies. Seychelles is a member of organisations like COMESA (Common Market for Eastern and Southern Africa) and signatory to the LOME Convention under which EEC countries receive preferential trade treatment.

In 2007 the enactment of the Securities Act introduced a new regulatory framework for transparency and fairness in the securities market in Seychelles. The Act serves as a means of encouraging international securities to trade in Seychelles and foreign securities. Licensing, promotion and compliance issues are handled by the Securities Authority.