Seychelles: Offshore Legal and Tax Regimes
Employment and Residence
In order to work in the Seychelles, a 'gainful occupation permit' is needed, which must be applied for by the employer, and costs SR8,400 per person per year plus a processing fee of SR1,000. In addition there are restrictions on the percentage of foreign employees permitted in a company.
Only in the Seychelles International Trade Zone (SITZ) can 100% of the workforce be foreign; permits are not required in SITZ. Normally the percentage of foreign workers is quite low, though there are exceptions for some types of offshore entity. Reduced rates of US$120 per year apply to permits issued to approved investors under the Investment Promotion Act, who can employ up to 25% foreign staff on that basis, and another 25% at normal rates. Foreigners cannot own land in the Seychelles without Government approval.