Seychelles: Country and Foreign Investment
International Trade Zone
The International Trade Zone Act 1995 and the International Trade Zone Regulations 1995 provide for the establishment of free trade zones, which are delimited by a declaration of the Finance and Communications Minister, and can be for one company or many. The existing International Trade Zone (SITZ) on Mahe is established under the Act. Activities within the Zone are governed by the Seychelles International Business Authority (SIBA), which issues licenses to incoming companies. See Law of Offshore for details of the licensing process and requirements.
The concessions available to licence holders in SITZ include:
- Exemption from customs duties on capital equipment to be used in SITZ;
- Exemption from Business Tax, Trades Tax and Withholding Tax;
- Exemption from social security contributions;
- Exemption from fees in respect of 'gainful occupation permits' (work permits);
- Entitlement to employ 100% foreign labour;
- A licence holder can apply for permission to sell within the domestic sector.
Companies established in the Free Zone are largely free of taxes - see Offshore Legal and Tax Regimes for details of fees and taxes payable.