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June 2, 2023

Seychelles

The Republic of Seychelles

About Country

Owing to its unique beauty, colourful Creole culture and year-round summer, Seychelles is renowned for being the ideal holiday destination. However over the years, the Islands’ value has also been found in its commitment to environmental protection, the value of its EEZ, its political stability, attractive business conditions, tri-lingual population, growing infrastructure and strategic location, thus making Seychelles attractive as an investment jurisdiction.

The location of the Seychelles Islands gives it excellent air connectivity to major hubs in the Middle East, Europe, Africa and Asia. This is coupled with a favourable time zone of GMT + 4. The World Bank Gross National Income (GNI) per capita framework has moved the Seychelles economy into the high-income group with a 2018 estimated GDP per capita of $16,434.

In an effort to continue improving the investment landscape, the Seychelles Government has plans to expand the Seychelles International Airport and the Victoria Sea Port. Work is also underway to install a second Submarine Fiber Optic Cable. This shows a commitment towards continuous infrastructure development to support investments.

Source: Seychelles Investment Board

Basic Data

Land area: 455 sq. km
Population: 93,419 (official estimate, 2015)
Capital: Victoria, on the island of Mahé
Climate: Tropical
Languages:  Creole, English, French
Currency: Seychelles rupee (SRs)=100 cents
Time:  4 hours ahead of GMT

Fast Facts

Tourism Arrivals : 384,204 (2019)
GDP Per Capita:   17,300 (2019)
GDP Growth: 3.8 (Q3 2018 – Q3 2019)
FDI :158.5(2018)
Exports :254(2019)
Imports:1,133(2019)

Economic Structure

  • Located in the heart of the Indian Ocean with excellent air connectivity to major hubs in the Middle East, Europe, Africa and Asia.
  • The main population is situated outside the cyclonic belt.
  • Favourable time zone of GMT+4.
  • Temperature ranges from 25-32 degrees Celsius throughout the year.
  • 96% literacy rate with increasingly educated and skilled workforce.
  • Politically and economically stable environment.
  • A growing economy with expanding opportunities in Fisheries, Agriculture, Real Estate, Adventure Tourism, ICT and Energy.
  • Fiscal incentives for investments in the Tourism, Agriculture, Energy and Fisheries sector.
  • 1st in Africa and 27th in the world on the Corruptions Perceptions Index 2019.
  • 2nd Highest GDP per Capita in Africa.
  • Offers a world class financial centre with no foreign exchange restrictions.
  • Ranked 3rd for the Mo Ibrahim Index of African Governance.
  • 1st in Africa on the Human Development Index (2019).

FDI Inflows

Source : The World Bank Group,

Seychelles Investment Bureau (SIB)

The Seychelles Investment Board (SIB) was set up in July 2004 as the one stop window for domestic and foreign investors. The Board has a young professional team of staff dedicated to promoting investment opportunities in Seychelles and furthermore facilitate the processes of establishing a business in Seychelles from scoping to implementation stages.
The Vision of SIB
The vision of SIB has been conceived in parallel with government objectives and has set as its mark for Seychelles to be the investment centre for the region. In order to achieve this, SIB reckons that the organization must be committed to offering first class services and, more importantly, take a cohesive and well-coordinated approach with key stakeholders and economic movers to ensure that the vision is being met.
Mission of the Board
SIB is committed to offering first class services to promote, attract and retain investment;
To work in close collaboration with our key stakeholders to stimulate, identify and facilitate investment.
Main Objectives of the Board
  • Formulate investment promotion policies, plans and marketing strategies and undertake promotional activities to attract foreign and local investments;
  • Contribute to government strategies related to the enhancement of the business context and formulate propositions to government.
  • Stimulate the development, expansion and growth of the economy by promoting Seychelles as an international investment, business and service centre;
  • Act as an intermediary between the public and private sector in order to formulate proposals to the government for the improvement of the business environment.
Core Values
Our values
  • Professionalism
  • Efficiency
  • Confidentiality
Integrity
We approach all of our work with honesty, respect, and accountability; We believe in keeping our commitments and being a responsible corporate citizen; We aim for reliability, efficiency, and fairness in decision-making and professionalism.
Service
We are committed to delivering excellent service and feel a personal responsibility to earn and maintain our clients’ confidence.
Innovation
We thrive on being a thought leader who anticipates market trends before they emerge; We believe in the power of ideas and are not afraid to challenge conventional thinking; We promote a culture of ingenuity and creativity at every level within our organization.
Excellence
We strive to exceed our clients’ expectations; We aim to achieve the highest quality, continually look for new ways to enhance our products and services; We train and reward outstanding achievement in our team to encourage excellence.
Teamwork
We believe that a person can prosper in a culture of collaboration; We aim to achieve common goals by leveraging on our potentials; We must be hard working, motivated and willing to develop.
Overall Strategic Intent of the Board
The strategic intent for the next three years would be to improve the facilitation process between the private and the public sectors.
SIB strives to:
  • Seek steady improvement in the global business indicators relative to the overall investment climate within Seychelles.
  • Improve the level of investment through diversification.
  • Promote the development of key infrastructures and logistics as well as value addition possibilities in the fisheries sector.
  • Focus on development of such emerging sectors such as ICT, healthcare, education and social and leisure infrastructures as this will provide the service base of Seychelles and support the primary industries.
  • Increase the level of investment in activities which reduce import substitutions.
  • Accelerate development in key infrastructures such as the seaport and airport and in enhancing access for both maritime and air transport.
  • Increase the level of investment which capitalizes on a knowledge-based economy such as the ICT sector.
  • Promote a strategy to increase exports of our local products.
Source: Seychelles Investment Board

Useful Links

Contact us

Seychelles Investment Board
Tel : (+248) 429 55 05  | Fax : (+248) 422 51 25
www.sib.gov.sc | info@sib.gov.sc