How To Start A Business In Seychelles In 2023 (Step By Step)

Filed in Article, Business by on September 26, 2022 0 Comments

Seychelles is an archipelago that serves as a luxurious and romantic spot for tourists and sight-seers. The lush green island, sandy beaches, and green waters are a sight for sore eyes adding to the steady rich culture of the nation, the landmarks, national parks, and reserves.

How To Start A Business In Seychelles

Anyone looking to start a business in Seychelles is in for real business because the country isn’t only loaded with exceptional sceneries but equally laded with experienced business tycoons plus the country is a business tribunal so many tourists come in to buy and sell.

These steps should guide you if you’re hoping to start a business in Seychelles.

1. Write Down Your Business Plan

Your business plan should include your ideas, the how(s), the strategies, and the business’s objective. It should equally include the company’s core value, your plan for the next few years, and the activities to help you succeed in a brief summary.

Writing down your business plan is a nice way to keep track of each activity you will be implementing when you begin the business properly so you cut off on excesses.

2. Submit Your Business Plan

You will have to submit your proposed business plans to the Seychelles Investment Bureau (SIB) and receive approval from the government of Seychelles. Your business plan must be in line with SIB Guidelines.

The bureau takes thirty days from the date your proposal was received (if no other document is requested by SIB) after which a letter will be sent to you. From there you could begin the process of obtaining the recommended licenses.

3. Register Your Business

Registration of your business follows after receiving the letter from the bureau.

4. You’ll Need To Apply For Construction Permission

This will only be required if your business involves any construction, for which you will need to apply to The Planning Authority, Ministry of National Development. An Environment Impact Assessment (EIA) from the Department of Environment will be carried out as well.

5. Occupational Safety and Health Inspection

The Department of Health, Ministry of Health and Social Development will conduct an inspection if your business consists of activities, such as food or chemical processing that could put the lives of people in danger.

6. Obtain A Permit Or License

This is another step to starting a business in Seychelles, you’ll need to apply for a license or permit from the Seychelles Licensing Authority (SLA).

7. Register Your Business With Social Security Fund

You’ll have to register your business with the Social Security Fund, Ministry of Finance within seven days of commencement of your business.

You do not need to submit a business plan if your business includes any of the following;

1. Fisheries and Agriculture Sector.

2. Industrial Sector includes;

  • Cottage Industry
  • Small Businesses
The Businesses That Do Not Require A License Or A Permit Include;
  • Agriculture Sector, excluding livestock business projects
  • Businesses requiring registration with other authorities include
  • Agriculture business projects with the Ministry Of Environment, Natural Resources, and Transport

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