Seychelles is not just a dream destination for tourists in search of sun-filled relaxation but also an ideal place for investors and entrepreneurs to incorporate their businesses. Let’s find out why opening a business in this earthly paradise is a smart move.
Boasting pristine sandy beaches surrounded by crystal-clear waters, lush tropical vegetation, and a rich ecosystem, the Seychelles islands have become synonymous with luxury holidays, relaxation, and indulgence. The archipelagic country that includes 115 granite and coral islands located just off the coast of East Africa, in the warm Indian Ocean is, by all accounts, a slice of heaven on earth, so it’s no wonder most people equate it with exotic holidays.
However, there’s more to this archipelago than meets the eye. If you’re able to look beyond its undeniable beauty and charm that have turned Seychelles into a favorite destination for tourists, you’ll discover that the island country is also a prime location for business owners and entrepreneurs to set up shop.
Seychelles’ economy has experienced significant growth over the past few decades, providing a fertile ground for those looking to open or expand their businesses. But there are several other aspects that make Seychelles a great place for offshore companies. So, if you’re still searching for the right location, here are some of the perks Seychelles provides in terms of business opportunities.
A thriving tropical paradise
As we’ve already mentioned, Seychelles is the stuff dreams are made of when it comes to tropical holidays and relaxation. With its stunning natural landscapes, turquoise waters, and great weather all year round, island life doesn’t get much better than this. Wondering what the weather and scenery have to do with the business landscape? Seychelles’ topography and climate are the reason why the local hospitality industry is thriving, along with many other businesses in the area.
Projects like Six Senses Zil Pasyon developed by Seychellois entrepreneur Mukesh Valabhji and Singaporean real estate developer Kishore Buxani prove why Seychelles is a great spot for investors. Seychelles is the place where tourists come to relax at world-class resorts and enjoy the finest things in life, and that’s what attracts entrepreneurs like a magnet. So, it’s no surprise that developers like Mukesh Valabhji choose Seychelles as their playground and enjoy great success with their projects.
We’ve heard time and time again that location is everything when setting up shop. Some might think that Seychelles is a bit too isolated as it’s situated in the heart of the Indian Ocean, with nothing but sparkling clear turquoise waters surrounding it. That sounds absolutely fantastic if you’re a tourist looking to escape the hustle and bustle of the city, but seclusion doesn’t help much when it comes to setting up a business.
However, Seychelles is not isolated in the least. In fact, it’s conveniently located to serve business purposes as it provides excellent flight connections to major international hubs in the Middle East, Europe, Africa, and Asia. That ensures freedom of movement, as you can travel to and from any corner of the world with ease. Regarding time zones, Seychelles is only 4 hours ahead of GMT, so you can take full advantage of various market opening times.
Probably the biggest advantage of setting up a business in Seychelles is the lack of taxes and stamp duties. Due to the country’s Territorial Tax System, companies have no obligations to pay taxes on the income they earn. The country has no taxes on capital gains, selling or transferring of shares, property, or inheritance. That’s how Seychelles got its reputation as a tax heaven for offshore investors.
However, there’s a catch to it. In order to be exempt from paying taxes as an offshore company, you have to prove that your business doesn’t generate its income within Seychelles. It’s also good to keep in mind that you may have to pay taxes in your country of residence, so make sure you check the local legislation in relation to tax rules.
Simple and streamlined process
Risk is not the only aspect that may discourage entrepreneurs from taking the leap and establishing a business offshore. The paperwork involved in incorporating a company and the complexity of the process also represent major concerns.
Fortunately, setting up a business in Seychelles couldn’t be any easier. As one of the most popular offshore jurisdictions in the world, Seychelles guarantees a simple and streamlined process for opening or scaling businesses on its territory. The local government also makes significant efforts to make the country more attractive to international investors by introducing new regulations that facilitate the incorporation process. And if that isn’t enough, there are many companies in Seychelles that provide expert guidance and service for entrepreneurs when it comes to the registration process, at very reasonable prices.
As you can see, the benefits of opening a company in Seychelles are numerous and can help you turn your business vision into a reality. So, if you’re serious about setting up a business offshore, Seychelles is without a doubt the best option you’ve got.
Photo by Secret Travel Guide on Unsplash
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