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Established in July 2004 One stop window for local and foreign investors Assist in establishing businesses , promote investment opportunities and provide the right climate to do business in Seychelles Our prominent role: Attract ˃Promote˃Advise˃Facilitate. - PowerPoint PPT Presentation
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Established in July 2004 One stop window for local and foreign investorsAssist in establishing businesses , promote investment
opportunities and provide the right climate to do business in Seychelles
Our prominent role:
Attract ˃Promote˃Advise˃Facilitate
The golden reasons why invest in Seychelles?
A stable political environment
Skilled labor force fluent in English, French and Creole
96% adult literacy rate and life expectancy of 75 years old
Sea and air connectivity from all over the world
Work permit easily available
High environmental standards
Excellent communications network with the connectivity of fiber optic cable
Favorable tax regimes for investments in Tourism, Agriculture, Energy and Fisheries sectors
World Class Financial Centre
Seychelles fast growing sectors
The tourism sector continues to be the most dominant sector in Seychelles followed by the fisheries, the financial and oil exploration/ exploitation sectors which lead to sustainable economic growth
INVESTMENT OPPORTUNITIES
Tourism sector
Fishing sector
Property Development
Oil Sector
Trade and Commerce
Professional Services
Niche hotels
Fishing fleets (long line fishing for tuna and other species)
Condominium/ High End Real Estate Development
Oil exploration/exploitation
Distribution & access to regional markets (links with COI, COMESA & SADC)
Banking services
Domestic and Offshore Banking
Tourism sector
Fishing sector
Property Development
Trade and Commerce
Professional Services
Integrated eco-resorts (outer islands mainly)
Fish farming Aqua-culture
Shopping Malls
Warehousing International Trade Zone
Non-financial services; IBC’s, Trust foundation, CSL, Limited Partnership
Tourism sector
Property Development
Trade and Commerce Professional Services
Specialty restaurants
Leisure and Entertainment
Trading in specialized goods(hotel, agriculture, fisheries , hardware, etc.)
Securities Exchange
Tourism sector
Property Development
Trade and Commerce
Professional Services
Maritime transportation, yachting
Port/Airport infrastructures; Commercially related development
Investment in Renewable Energy
Business Processing and outsourcing
Tourism sector Professional Services
Marinas and other support services
Private University/ Schools
Other tourism support activities
ICT/E-Commerce/Call Centres
Health and wellness
Complimentary Health Care
Tax RegimeThe overall tax rate in Seychelles is moderate.Tax rates at a glance
_ Trades Tax (customs duties)……………0%/25%*94% of the tariff lines rated at 0%*Trades tax mostly concentrated on the 4 main
revenue generating items;* Fuel……………….SR 4 (US$ 0.30 )*Alcohol………..SR 40 – SR 240 per litre (Us$ 3 –
US$18)* Tobacco…………..SR 500 (US$ 38) per 200
cigarettes
*Motor Vehicles …25%
–Trades tax is calculated on the CIF (Cost, Insurance and Freight) value of the goods
*Excise Tax -A tax levied on four excisable goods imported or locally manufactured in Seychelles:
Cigarettes or tobacco (US$39 per 200 cigarettes)
Alcoholic beverages (depending on the volume and percentage of alcohol – US$1.7 – US$9.2)
Motor Vehicles (depending on the cc -25% to 75%)
Petroleum Products (US $ 0.31 per litre)
*Goods and Services Tax (GST) The GST is calculated as a percentage of the landed cost of goods in Seychelles plus the Trades Tax and Excise Tax (if applicable).The rate is 15%
_As from the 1st January 2013 the Goods and Services Tax will be replaced by the Value Added Tax
VAT RatesStandard rate: 15%Zero-rated supplies: 0%
Exempt suppliesVAT cannot be charged on:sales by an unregistered person;sales of private property (e.g. a car or home not used for business); exempt supplies.There are two categories of exemptions under the VAT Act, 2010:
exempt imports; and exempt supplies
(a) Exempt imports include:basic essential goods (e.g. sugar, pharmaceuticals, rice, milk, lentils, salts etc); – Goods on transit; – Goods imported to be used in the
process of renewable energy.
*Income and Non-Monetary Benefits Tax
- levied on employed person emoluments. ……..…….15%
- Non-Monetary Benefits tax payable by Employer ..20%
*Business Tax (Corporate Tax)- Source Principle
1) Entity, government body or a trustee; a) 25% of the first SR1,000,000(approx
US$77,000) of taxable income, and 33% of the remainder.
2) Any other person other than an entity or government body;a)0% of the first SR 150,000 (approx
US$12,000)of taxable incomeb)15% between SR150,001 and SR1000,000 of
taxable income, and 33% of the reminder
3) The rate of business tax payable by a non-resident person is 3%
(International Transportation -Ship and Aircraft on gross income)
4) Withholding tax rate on dividend, interest and Royalty paid to non resident is 15%, where there is no Double Taxation Avoidance Agreement. (DTAA)
•No capital Gain Tax•No tax on pension
THANK YOU