Investment Advice in Seychelles for Expats: From Tax Haven to New Investment Potential

Seychelles maintains a liberal foreign-exchange regime, no restrictions on repatriation of profits, and a maturing legal framework designed to balance transparency with ease of doing business.

Over the past decade, Seychelles has moved from being perceived as a traditional offshore tax haven toward a fully compliant, OECD-aligned investment jurisdiction.

For expat investors, Seychelles presents opportunities in tourism, fisheries, real estate, and the fast-growing “Blue Economy.”

Yet, navigating its specific regulatory environment, particularly the Economic Needs Test (ENT), reserved-sector restrictions, and the reformed tax regime, requires understanding the country’s new investment reality.

Este artículo trata:

• Why Invest in Seychelles
• Seychelles Golden Visa and Immigration Options
• Is Seychelles a Tax Haven Country?
• Buying Property in Seychelles
• How to Open a Bank Account in Seychelles

Principales conclusiones:

• Seychelles now operates as a transparent, OECD-compliant jurisdiction.
• Foreign investors can own 100% of local companies after passing ENT.
• Permanent residence is available for a US$1 million investment.
• Tax rates from 15% to 25% for businesses.

My contact details are hello@adamfayed.com and WhatsApp +44-7393-450-837 if you have any questions.

La información contenida en este artículo es meramente orientativa. No constituye asesoramiento financiero, jurídico o fiscal, ni una recomendación o solicitud de inversión. Algunos hechos pueden haber cambiado desde el momento de su redacción.

Investing in Seychelles: What You Should Know

Foreigners are welcome to invest in Seychelles, but not all sectors are open without restriction.

The country’s investment environment is managed under the Seychelles Investment Act and related regulations, with the Seychelles Investment Board (SIB) serving as the main agency that evaluates and facilitates foreign investment proposals.

While Seychelles generally allows 100% foreign ownership of companies, the government uses an Economic Needs Test (ENT) to decide whether a proposed investment provides sufficient benefit to the local economy.

The ENT assesses factors such as job creation for Seychellois nationals, technology transfer, environmental sustainability, and contribution to local development.

Investors whose activities pass the ENT are issued a Letter of Approval from the SIB, which then allows registration with the relevant authorities.

Certain areas, however, are reserved exclusively for Seychellois citizens. These include small-scale retail, local taxi services, hairdressing, and other micro-enterprise sectors the government protects to promote domestic entrepreneurship.

Other industries, such as tourism accommodation, professional services, and construction, are open but may have foreign equity caps or partnership requirements.

In practice, Seychelles’ investment policy is liberal toward high-value or innovative ventures especially those creating skilled jobs or supporting sustainable industries like renewable energy, ocean technology, or agriculture.

Still, investors should not assume full freedom of entry: government revise is standard, and compliance with environmental and social regulations is strictly enforced.

Does Seychelles have a golden visa?

Yes, Seychelles offers a golden visa program. However, it does not lead to a traditional citizenship as with standard citizenship-by-investment programs like those in some Caribbean nations.

Seychelles offers several pathways for long-term residence tied to employment or business activity.

Seychelles Permanent Residence (PR) through Investment

Foreign investors can apply for permanent residence in Seychelles after meeting a combination of US$1 million investment and five-year residency criteria.

• Investment requirement: Minimum US$1 million in a locally registered business or approved venture.
• Residency requirement: At least five years of continuous association with Seychelles through business operations or property ownership.
• Financial independence: Applicants must demonstrate sufficient resources to support themselves and any dependents for at least one year without local employment.
• Benefits: PR holders may live, work, and own property in Seychelles without needing a GOP, though they must still observe tax and business regulations.

Seychelles Gainful Occupation Permit (GOP)

The GOP is the primary work and self-employment authorization for non-Seychellois.

• Eligibility: Required for any foreigner engaging in paid work, self-employment, or business management.
• Application process: Must be filed by the employer or investor through the Department of Employment roughly 10 weeks before employment starts.
• Validity: Usually issued for one year, renewable annually.
• Key documents: Business registration certificate, contract of employment, police clearance, and proof that no qualified Seychellois can fill the role.
• Fees: Around SCR 1,000 per month or SCR 12,000 per year, plus a processing fee.

Investors who operate their own business typically apply for a Self-Employed GOP, which allows them to manage and earn income through their own registered entity.

Other Seychelles Residency Options include:

• Residence permits for retirees or property owners are sometimes issued on a case-by-case basis, typically requiring proof of stable income and medical insurance.
• Dependents of GOP or PR holders may apply for residence permits linked to the principal’s status.
• Temporary residence extensions are possible for investors awaiting permit renewal or new approvals.

Expats planning to stay and invest in Seychelles should first secure either a GOP or a PR pathway, depending on their timeline and scale of investment. Starting early is essential, as approval processes can take several months.

Taxation in Seychelles: Is Seychelles a tax haven?

No. Seychelles has transitioned from a low-tax offshore center into a transparent, rules-based tax jurisdiction aligned with OECD and EU standards. While rates remain competitive, the focus now is on fair taxation, substance, and transparency.

Corporate and Business Taxes

• Business Tax: Seychelles applies a tiered system for resident companies.
  • 15% on the first SCR 1,000,000 of taxable income
  • 25% on the balance above SCR 1,000,000
    Foreign companies operating through a Seychelles branch are taxed on Seychelles-source income at the same rates.
• IBCs and substance: International Business Companies (IBCs) are exempt from tax only if they do not derive Seychelles-source income. If they operate locally or within regulated sectors (e.g., financial services, digital assets), they must file annual returns and pay normal business tax.
• Tax filing: Annual returns are filed with the Seychelles Revenue Commission (SRC), typically due within four months after the financial year-end.

Personal Income Tax

• All employment income earned in Seychelles is subject to PAYE (Pay As You Earn) withholding.
• Tax rates are progressive up to 30%, depending on income brackets.
• Employers handle deductions, though self-employed expats must file directly with the SRC and make quarterly advance payments.
• Foreign-source income is generally not taxed unless remitted through a Seychelles entity.

Value Added Tax (VAT)

• Standard rate: 15%.
• Registration threshold: SCR 2 million annual turnover.
• Applies to most goods and services consumed in Seychelles, including imports.
• Businesses can reclaim input VAT on eligible expenses through monthly or quarterly filings.

Withholding Taxes and Treaties

• Withholding tax (WHT) applies to certain payments to non-residents:
  • Dividends: 15%
  • Interest and royalties: 15%
  • Management and technical service fees: 15%
• Seychelles maintains Double Taxation Avoidance Agreements (DTAAs) with countries including China, South Africa, Mauritius, UAE, and India, which can reduce WHT rates depending on treaty terms.

Entities engaged in relevant activities (e.g., banking, insurance, holding, shipping, IP management) must demonstrate:

• Local management and control.
• Adequate expenditure and premises in Seychelles.
• Employment of suitably qualified staff.

Failure to comply can lead to financial penalties, exchange of information with foreign tax authorities, and potential deregistration.

Other taxes include:

• Social security contributions: 20% of salary (split between employer and employee).
• Customs duties: Levied on certain imports, though Seychelles has preferential trade arrangements under COMESA and SADC.
• Environmental and tourism levies: Apply mainly to tourism and hospitality projects.

Overall, Seychelles offers a stable and moderate-tax environment but no longer tolerates zero-tax shell operations. Serious investors benefit from clarity and global compliance recognition.

Can foreigners buy property in Seychelles?

Yes, foreigners can buy property in Seychelles. Since 2025, the rules for non-Seychellois buyers have been updated to encourage high-value investment while protecting domestic ownership.

To be eligible:

• Foreigners must obtain approval from the Ministry of Lands and Housing under the Immovable Property (Transfer Restriction) Act.
• Applications are evaluated based on purchase value, property use, and national interest.
• A Sanction Duty of 12% of the market value is payable on approval, plus 5% Stamp Duty on the transfer.
• The process typically takes 8–12 weeks from submission to completion.

The categories for consideration are:

• Residential property: Minimum market value of SCR 10 million.
• Bare land: At least SCR 4,000 per square meter, plot size between 2,000–4,000 m².
• Apartments or villas in approved developments: Allowed, but individual ownership must be registered through the Land Registrar.
• Commercial real estate: Requires a business license and sometimes an environmental impact assessment.

Foreigners are restricted from purchasing property in designated “Affordable Housing” zones or land intended for national development projects.

Ongoing costs include:

• Immovable Property Tax (IPT): 0.25% of the property’s market value per year, payable by non-Seychellois owners.
• Maintenance and service fees: Especially for villas and apartments in resort or condominium complexes.
• Property insurance and utilities: Usually higher than regional averages due to import costs.

Most foreign buyers pay in cash, as local banks rarely issue mortgages to non-residents. Offshore financing or equity transfers from abroad are more common. Currency controls do not apply, so capital repatriation is unrestricted provided taxes and duties are settled.

Opening a Bank Account in Seychelles

Foreigners can open both personal and corporate accounts in Seychelles, though the process has become stricter under international AML/CFT standards.

• Requirements: Passport, proof of address, source-of-funds documentation, and business registration papers (for companies).
• In-person verification: Most banks require physical presence at least once during account opening.
• Processing time: Typically 5–10 working days if documentation is complete.
• Local banks: Include Nouvobanq, Seychelles Commercial Bank, Al Salam Bank Seychelles, and MCB Seychelles.

Seychelles has a liberal and fully convertible currency regime, making it straightforward for foreigners to move capital in and out of the country.

The Central Bank of Seychelles (CBS) supervises the banking sector, while the Financial Services Authority (FSA) regulates international and non-bank financial institutions.

Seychelles also hosts international banking units (IBUs) under the FSA. These cater to global clients and IBCs but require enhanced due diligence and ongoing compliance.

Account holders must meet Common Reporting Standard (CRS) and FATCA obligations for automatic exchange of financial information.

Preguntas frecuentes

¿Le duele la indecisión financiera?

Adam es un autor reconocido internacionalmente en temas financieros, con más de 830 millones de respuestas en Quora, un libro muy vendido en Amazon y colaborador de Forbes.