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Seychelles is an established international financial jurisdiction that offers businesses and investors a range of products to meet their increasingly complex needs.

 

One of these products is the Seychelles Limited Partnership (LP). This is a legal arrangement similar to Limited Liability Partnerships found in other jurisdictions. Two or more legal persons can form a Limited Partnership in Seychelles, but the partnership must consist of one or more General Partners and one or more Limited Partners. A body corporate may be a General or Limited Partner and a General Partner may hold an interest as a Limited Partner.

 

Cerf Island, located in the middle of the Ste. Anne Marine National Park is home to Cerf Island Resort, a 24-villa hotel. A group from SIB’s Investment Facilitation team met with Resident Manager Mr. Marc Borrell for an after-care visit, with the aim of learning more about the establishments success and challenges and offering SIB’s assistance where needed.

 

The Seychelles Foundation is legally a separate entity. Unique to the Seychelles, legislation clearly stipulates that once assets have been transferred to a foundation, they become the assets of that foundation with full legal and beneficial title and do not form part of the founder’s personal estate on death.

 

The Company (Special Licence), commonly referred to as CSL, is a Seychelles domestic company (incorporated under the Companies Ordinance, 1972) which is granted a special licence under the Companies (Special Licence) Act, 2003.

 

The CSL may carry on permitted business both internationally and within the Seychelles. CSLs are permitted to engage in a range of activities including international holdings, intellectual property licencing, services and any other activities approved by the Authority (FSA).

 

The Seychelles Investment Board (SIB) paid a courtesy visit to “La Jeunesse Nail and Beauty salon” owned by Ms. Beryl Scharpf and located at OJ Mall.

 

La Jeunesse is among one of the first beauty salons in Seychelles, when it first opened its doors 21 years ago. Prior to his, Ms. Scharpf ran a business in Australia for 10 years after which she qualified as a Beautician.

 

Turquoise Décor and Supplies is a wholesale business owned and operated by Mr. Jeffery Payet and Ms. Shirley Etienne. The business has been in existence since 2016 and mostly imports décor such as unique decorative pieces, frames with artificial shells, household supplies, curtains and many more.

 

The International Business Company (IBC) is a simple but flexible business structure ideal for a wide range of uses. With the adaptation of a territorial taxation system in 2019, an IBC is now permitted to conduct business locally and is not subject to any Seychelles’ tax or duty on income or profits if it does not derive assessable income (i.e. Seychelles’ sourced income) in Seychelles.

 

2018 has seen a significant increase in Foreign Direct Investment (FDI) surpassing expectations, reaching USD 158.5 million, this is according to data compiled by the Central Bank of Seychelles (CBS). The actual 2018 FDI figure of USD 158.5 million vs. the forecasted amount for the same period of USD 139.2 million, represents a 14% increase in FDI. This increase brings the FDI amount for 2018 on-par with pre-moratorium levels which impacted large hotel developments in Seychelles.   

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