Republic of Seychelles
Capital: Victoria HDI: 0.772 (64th)
Language: English, French, Seychelles Creole
GDP (PPP): $2.608 billion
Currency: Seychellois Rupee
Population: 92,000
The Republic of Seychelles is an archipelago and country in the Indian Ocean. The 115-island country, whose capital is Victoria, lies 1,500 kilometers (932 mi) east of mainland East Africa. Other nearby island countries and territories include Comoros, Mayotte, Madagascar, Réunion and Mauritius to the south. With a population of roughly 92,000, it has the smallest population of any independent African state; however, it does have a larger population than the British overseas territory Saint Helena, Ascension and Tristan da Cunha.
Seychelles is a member of the African Union, the Southern African Development Community, the Commonwealth of Nations, and the United Nations. After proclamation of independence from the United Kingdom in 1976, Seychelles has developed from a largely agricultural society to a market-based diversified economy, with agriculture being supplanted by rapidly rising service and public sectors as well as tourism. Since 1976, per capita output has increased nearly sevenfold. In recent years, the government has encouraged foreign investment in order to upgrade these sectors. Today, Seychelles boasts the highest nominal per capita GDP in Africa. It is one of only a handful of countries in Africa with high Human Development Index. Despite the country’s newfound economic prosperity, poverty remains widespread due to very high level of income inequality, one of the highest in the world, and low wealth distribution.
RESEARCH
Economic Overview
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Seychelles Overview – World Bank
http://www.worldbank.org/en/country/seychelles/overview
Seychelles records the highest gross domestic product (GDP) per capita in Africa ($15,476 in 2015), its economy (which relies heavily on tourism and tuna exports) is particularly at risk to increasing changes in climate. The tourism sector remains the major engine of growth, and is benefiting from efforts to diversify source markets to the Middle East and Asia.
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Seychelles Overview of economy
http://www.nationsencyclopedia.com/economies/Africa/Seychelles-OVERVIEW-OF-ECONOMY.html#ixzz4QHARxaty
Despite government efforts to encourage agricultural and industrial development, tourism remains the dominant sector in the country’s economy. It provides most of the country’s revenue and employment, and it maintains a positive image of the archipelago as an exotic and desirable destination.
Industry Trends & Business Climate
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Investment Climate Statement
http://photos.state.gov/libraries/mauritius/882940/business_page/2014-4-30_ics_seychelles.pdf
A dated (2014) commentary on the business climate in the Seychelles
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Seychelles – Wikipedia
https://en.wikipedia.org/wiki/Seychelles
A general overview of the SEWychelles
Establishing a Presence
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Seychelles company registration
http://www.healyconsultants.com/seychelles-company-registration/
This site describes the steps necessary to register a company in Seychelles
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Seychelles: Types of Company
http://www.lowtax.net/information/seychelles/seychelles-company-introduction.html
Companies formed under the Companies Act 1972 can be private companies limited by shares, by guarantee, or hybrid; or they can be unlimited, but that is rare. Public companies can also be formed under the Act. For all these types of company, Memorandum and Articles of Association must be filed at the Companies Registry, along with the registration fee.
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International Business Company (IBC)
https://www.seychellesoffshore.com/seychelles-ibc-company.php
Seychelles IBC – an International Business Company – is the most popular and versatile type of offshore corporation available in Seychelles.
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Starting a Business in Seychelles
http://www.doingbusiness.org/data/exploreeconomies/seychelles/starting-a-business
This World Bank site provides a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Seychelles.
Taxes
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Seychelles Sales Tax Rate | VAT | 2013-2016
http://www.tradingeconomics.com/seychelles/sales-tax-rate
The Sales Tax Rate in Seychelles stands at 15 percent.
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Seychelles Sales Tax Rate | VAT Forecast 2016-2020
Seychelles Sales Tax Rate | VAT Forecast 2016-2020
In the long-term, the Seychelles Sales Tax Rate | VAT is projected to trend around 15.00 percent in 2020, according to our econometric models.
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Seychelles Corporate Tax Rate | 2004-2016
http://www.tradingeconomics.com/seychelles/corporate-tax-rate
The Corporate Tax Rate in Seychelles stands at 33 percent. Corporate Tax Rate in Seychelles averaged 36.50 percent from 2004 until 2015, reaching an all time high of 40 percent in 2005 and a record low of 33 percent in 2010. Corporate Tax Rate in Seychelles is reported by the Ministry of Finance.
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Paying Taxes in Seychelles
http://www.doingbusiness.org/data/exploreeconomies/seychelles/paying-taxes
This site provides a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as administrative burden in paying taxes and c
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Seychelles: Personal Taxation
http://www.lowtax.net/information/seychelles/seychelles-personal-taxation-introduction.html
The only significant tax bearing on individuals is the Income & Non-Monetary Benefit Income Tax which replaced the social security tax in July, 2010; there is no capital gains, gift, property or estate taxes. Foreign-source income is untaxed.
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Seychelles Personal Income Tax Rate Forecast 2016-2020
In the long-term, the Seychelles Personal Income Tax Rate is projected to trend around 15.00 percent in 2020, according to our econometric models.
Visas
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Entry Formalities – Seychelles
http://seychelles.travel/plan-your-visit/travellers-essentials/entry-formalities
Irrespective of the nationality of the visitor and his or her family members, there are NO VISA requirements to enter Seychelles. However, this site does list the diocuments that are rquired for entry,
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Seychelles Visa
https://seychelles.visahq.com/#!seychelles-Tourist-visa
Comprehensive Information on Seychelles Visa Requirements
Infrastructure
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Transportation – Seychelles Tourism Board
http://seychelles.travel/plan-your-visit/travellers-essentials/transportation
Independently operated taxis are available on Mahé and Praslin, and a handful on La Digue. Cars may be hired only on Mahé and Praslin with several companies represented at the International airport on Mahé and at the larger hotels.
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Seychelles Transportation – Taxi, Train, Bus & Airport Tips
https://www.virtualtourist.com/travel/Africa/Seychelles/Transportation-Seychelles-TG-C-1.html
170 tips on getting to and getting around Seychelles from real travelers and locals.
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Telecommunications in Seychelles – WOW.com
http://www.wow.com/wiki/Telecommunications_in_Seychelles
A summary of the telecom market and services available in Seychelles
Employer Obligations
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Employment Act | Seychelles
http://www.seylii.org/sc/legislation/consolidated-act/69
A directory for key provisions of the Emplyment Act
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Seychelles Employment & Labor Law News Topics
http://employment.einnews.com/category/employment-labor-law/seychelles
This site provides links to current news items on employment in Seychelles
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Unemployment Relief Scheme Act
http://www.seylii.org/sc/legislation/consolidated-act/244a
Unemployment legislation in Seychelles
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Seychelles Employment & Labor Law News Topics
http://employment.einnews.com/category/employment-labor-law/seychelles
This site provides links to current news items on employment in Seychelles
Culture/Living
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Climate – Seychelles Tourism Board
http://seychelles.travel/discover/climate
The Seychelles’ climate is one which is always warm and does not reach extremes of heat or cold. The temperature rarely drops below 24°C or rises above 32°C.
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Cost of Living in Seychelles
https://www.numbeo.com/cost-of-living/country_result.jsp?country=Seychelles
Average prices of more than 40 products and services in Seychelles. Prices of restaurants, food, transportation, utilities and housing are included.
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Cost of Living in Seychelles. 2016 prices
https://www.expatistan.com/cost-of-living/country/seychelles
Cost of living comparisons in more than 1,600 cities all over the world.
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Seychelles – Culture, Customs & Etiquette
http://guide.culturecrossing.net/basics_business_student.php?id=180
Guide to travel, doing business, and studying in Seychelles – culture, greetings, gestures,etiquette, taboos, negotiations, gift-giving, and more.
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Etiquette in Seychelles – Lonely Planet
https://www.lonelyplanet.com/seychelles/etiquette
A brief commentary on etiquette dos and don’ts
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Seychelles Public Holidays 2016 and 2017
http://africapublicholidays.com/seychelles/
Discover the complete list of Seychelles’ public holidays for 2016 and 2017
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Seychelles: Islands, Capital & Districts – Population
https://www.citypopulation.de/Seychelles.html
This site provides a population summary of the Seychelles islands
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Seychelles Public Holidays 2016
http://holidayyear.com/holidays/Seychelles
Seychelles holidays 2016, bank holidays, national holidays, official holiday calendar, religious festivals and celebrations for the year 2016
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Seychelles Weather – AccuWeather.com
http://www.accuweather.com/en/sc/seychelles-weather
Access hourly, 10 day and 15 day forecasts along with up to the minute reports and videos
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Personal safety – Seychelles Tourism Board
http://www.seychelles.travel/plan-your-visit/travellers-essentials/personal-safety
Seychelles, enjoys a low level of crime. Nevertheless, like anywhere else in the world, visitors must always take reasonable precautions as opportunist crime does happen and it can be best described as when an opportunity presents itself and subsequently tempts a person to steal.
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Seychelles travel advice – GOV.UK
https://www.gov.uk/foreign-travel-advice/seychelles/safety-and-security
Latest travel advice for Seychelles including safety and security, entry requirements, travel warnings and health
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Education in Seychelles – Wikipedia
https://en.wikipedia.org/wiki/Education_in_Seychelles
This site discusses education in Seychelles and its evolution from private mission schoolsto compulsory public education in the modern system.
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International School Seychelles – Official Site
http://iss.sc/
International School Seychelles is a co-educational not-for-profit school on the island of Mahe in the Seychelles. ISS follows a UK-style curriculum
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Demographics of Seychelles – Wikipedia
https://en.wikipedia.org/wiki/Demographics_of_Seychelles
This site discusses the demographic features of the population of Seychelles, including population density, ethnicity, education level, health of the populace, economic status, religious affiliations and other aspects of the population.
Trade
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Customs: Regulations, Export-Import Procedures
https://seychelles.visahq.com/customs/
Seychelles Customs regulations and procedures for importing and exporting goods at border.
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Import Procedures | Seychelles Trade portal
http://www.seychellestradeportal.gov.sc/import-procedures
Information on import regulations and documentation from the Ministry of Finance, Trade and Economic Planning
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WTO | Seychelles – Member information
https://www.wto.org/english/thewto_e/countries_e/seychelles_e.htm
This site provides key information on Seychelles participation in the WTO. Seychelles has been a member of the WTO since 26 April 2015.
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African Countries Trade Agreements
http://www.focusafrica.gov.in/Trade_Agreements_Africa.html
This site summarizes key African trade agreements including those with Seychelles
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Customs: Regulations, Export-Import
https://cape-verde.visahq.com/customs/
A summary of import and export regulations
Housing and Rentals
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Seychelles Accommodation
https://www.safarinow.com/destinations/seychelles/hub.aspx
This site provides a listing of available hotels, villas and guest houses
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The 10 Best Seychelles Hotel Deals
https://www.tripadvisor.com/SmartDeals-g293738-Seychelles-Hotel-Deals.html
Find the perfect hotel within your budget with reviews from real travelers.
Travel
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Seychelles Travel Guide | Fodor’s Travel
http://www.fodors.com/world/africa-and-middle-east/seychelles
Expert picks for your Seychelles vacation, including hotels, restaurants, entertainment, shopping, top attractions, and more.
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Seychelles Travel Guide | Travel + Leisure
http://www.travelandleisure.com/travel-guide/seychelles
On the list of the world’s most romantic destinations, the Seychelles are about as close as you can get to the top. Located in the Indian Ocean off the coast of East Africa
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