New investment regulation clarifies conditions for foreign Investment in Seychelles

On July 4, 2022, Seychelles introduced the Seychelles Investment (Economic Activities) Regulations No. 76 of 2022, replacing the 2014 version. This new framework aims to enhance transparency regarding limitations and restrictions on foreign investments. The regulation lists specific economic activities that foreign nationals may engage in, either independently or in joint ventures with Seychellois nationals. For activities not specified in this list, the Seychelles Investment Board (SIB) will conduct an economic needs test, considering the impact on the domestic economy and consumer interests.

The regulation allows foreign investors to independently engage in services like architecture, legal, and taxation. However, it mandates Seychellois majority partnership for businesses in certain sectors, like small tourism establishments. This measure aims to balance foreign investment interests with the development and needs of the Seychellois economy and consumers.

• Type:

  • Entry and establishment (Ownership and control, Approval and admission)

• Industry:

  • Not industry specific

• Sources:

  • Official Gazette Republic of Seychelles, Seychelles Investment (Economic Activities) Regulations, 2022, https://www.gazette.sc/sites/default/files/2022-07/SI%2076%202022%20-%20Seychelles%20Investment%20%28Economic%20Activities%29%20Regulations%202022.pdf, 04 Jul 2022
  • Seychelles News Agency, Foreign investment - Investing in Seychelles will include economic needs test, http://www.seychellesnewsagency.com/articles/17263/Foreign+investment+Investing+in+Seychelles+will+include+economic+needs+test, 19 Aug 2022