07.19.06

Seychelles International Trade Zone (SITZ)

Posted in Seychelles offshore jurisdiction at 2:06 pm by Robert Klien

Seychelles International Trade Zone (SITZ) is a very essential part of the Seychelles economy that is becoming even more and more essential for the Seychelles. SITZ was set in 1995 by the International Trade Zone Act 1995 and the International Trade Zone Regulations 1995 that provide for the establishment of free trade zones.

Activities inside this zone are governed by the Seychelles International Business Authority (SIBA), which deals with issuing licenses to incoming companies. Licenses are issued for assembling, processing, redistribution, service, telecommunications, manufacturing and other technology-oriented businesses, whereas retailing is not normally permitted in the zone, however, SIBA has authority to give consent for it. It also can request information from a license applicant.

Seychelles International Trade Zone offers modern facilities with attractive tax and other incentives for companies. License holders in SITZ have the following concessions and privileges:

  • exemption from social security contributions,
  • exemption from fees on work permits,
  • employing 100% foreign labor,
  • exemption from customs duties on capital equipment used in the zone,
  • permission to acquire interests in real estate or a company for the purpose of carrying on activities in SITZ.

The physical security of SITZ is controlled by the authorities – officials of SIBA, officials of SITZ or police officers do their best checking vehicles and shipments moving in and out of the zone and seizing suspicious goods.

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