Seychelles International Trade Zone
(Freeport and Export Processing Zone)
The International Trade Zone Act allows for the licensing of both freeport operations and that of manufacturing. Under this law, companies who are eligible for an ITZ licence are exempted of all taxes provided that their output is geared towards an export market. The Seychelles is well placed to promote hub and spoke operations from its shores.
Advantages of Seychelles
The International Trade Zone Act features:
The well known Heinz Group has invested some US$ 8 million in a tuna canning plant that already employs over 600 people. This will be exporting canned tuna predominantly to Europe. Another US$ 2 million plant is being set up to export medical devices to Europe and the USA. SIBA has registered at least 12 applications for ITZ projects that range from re-distribution to manufacturing and light assembly.
The licence fees are as follows:
The Financial and Business Hub
Seychelles sees much potential in promoting itself as a serious financial and business hub.
The recent moves by Government, namely the enactment of legislation allowing for international business activities, have been acclaimed by professionals within the industry. Its IBC laws, trust laws, international trade zone laws are amongst the most modern in the world. Modern satellite communications, a well established banking sector and professional management services companies are testimony to the promising signs that Seychelles means business and will succeed in its bid to generate more wealth and prosperity for its people.
Poised and ready to make good of the opportunities that lie ahead, the Seychelles wholeheartedly invites all those who wish to seriously participate in this exciting era of economic development, to its shores where warmth is not just a feature of the climate, but of its people as a whole.
Double Taxation Agreements
The use of double taxation agreements to encourage inward investment is now being seriously considered by Government.
Discussions are presently underway with some major trading and developed countries to establish such agreements which will further boost the island's attraction as an international business centre.