02.26.07

Seychelles welcomes up to 200 thousand tourists

Posted in Business and Economy, Seychelles offshore jurisdiction at 5:23 pm by Robert Klien

In 2006, the Seychelles received a record number of tourists – 140 627. Further on, the country hopes the numbers to increase. However, in accordance with the authorities, it is not likely to welcome more than 200 000 visitors as far as in case of mass tourism risk of environmental degradation is possible, and safeguarding an environment is a highly essential value for the country.

It is worth reminding that the Seychelles’ population is 82 000 people. Nevertheless, the country got used to welcoming more tourists than its population. In 2002, for example, the Seychelles welcomed 132 246. Then, it saw a slight decline in visitors’ number, however in 2005 the figures started to increase.

Joseph Belmont, the Seychellois vice-president and the Minister for Tourism, worries about too large figures on the islands with exclusive beaches, and informs that the tourism policy provides for a maximum number of 200 000 visitors by 2010.

The chief executive officer of the Seychelles Tourism Board, Maurice Loustau-Lalanne expressed the pleasure to get such result of growth in visitor arrivals.

Mr Lousteau-Lalanne also shared his expectations suggesting more visits in 2007 and trying to increase figures with a target of 10% growth in overall arrivals.

02.21.07

Seychellois of Indian origin to contribute to the economy. The Hindu-Seychelles Forum for Commerce and Industry established

Posted in Business and Economy, International Organisations, International relations at 10:35 am by Robert Klien

Seychellois of Indian origin intend to renew their commitment to the trade business in the Seychelles. These people are members of a new association, the Hindu-Seychelles Forum for Commerce and Industry.

To try to establish air links with India, a group of these businessmen will pay a visit to New Delhi in order to hold talks with owners of chartered jets. They aim at encouraging more trade between the Seychelles and India as far as, firstly, India is the homeland of their ancestors and, secondly, it is recording rapid economic growth.

In accordance with the chairman of the association, Mr K. D. Pillay, the Hindu-Seychelles Forum for Commerce and Industry will promote trade and commerce between the 2 countries. Also, it intends to position the Seychelles as a perfect tourist destination for Indians.

The Hindu-Seychelles Forum for Commerce and Industry is convinced that Seychellois of Indian origins or Indian nationals residing in the Seychelles making business there could provide the local market with additional and better choice of goods. Because of good quality and reasonable prices of Indian products, Seychelles’ consumers will definitely benefit from the establishment and work of the association.

02.16.07

SIBA resources

Posted in Seychelles banking, Seychelles IBC, Seychelles offshore jurisdiction at 3:00 pm by Robert Klien

The SIBA website provides quite a complete library of Seychelles legislative acts regulating offshore financial services as well as a list of Licensed Corporate Services Provioders (CSP). Currently, there are 36 corporate Services Providers listed there, inluding also such offshore professionals known worldwide as Ocra (Seychelles), Fidelity (Seychelles), Mossack Fonseca and others.

Another important resource provided by SIBA website is various application forms and guides needed for undertaking offshore business in the Seychelles. For example, Guide to become a Corporate Services Provider in Seychelles, CSP Application form, Guide to Compliance for CSP, Application Guidelines for Special License Company (CSL), CSL – Application Form as well as various application forms for International Trade Zone business and ship and yacht registration.

For the first acquaintance with Seychelles offshore services, there is a good description about the key offshore services: International Business Companies (IBC), Mutual Funds, Offshore Banking, Offshore Insurance, International Trusts and Ship Registration.

As regards the latest updates on Double Taxation treaties, Budget Speech and latest news for whole offshore jurisdiction – sometimes this information is outdated (for example, currently the latest news are avaialble for the first half of 2006), but anyway, comparing with other Seychelles resources providing offshore business information, SIBA provides far away the most detailed and most up-to-date information about Seychelles offshore financial services.

02.12.07

Seychelles International Business Authority

Posted in Seychelles banking, Seychelles CSL, Seychelles IBC, Seychelles offshore jurisdiction at 5:51 pm by Robert Klien

When it comes to Seychelles offshore services, the organization number 1 in Seychelles is undoubtedly the Seychelles International Business Authority (SIBA) established in February 1995.

SIBA is an organization corporate with board members who are prominent participants of both government and the private sector.

The Seychelles International Business Authority is a body that both licenses and regulates primary offshore activities. This body represents the Registrar for International Business Companies (IBCs) and trusts and a regulator of International Trade Zone activities. With its dedicated professionals and carefully worked-out systems, the Authority can provide swift name approvals, incorporation and licensing, while spending minimal periods of time on bureaucracy. As a result, certificates of incorporation, for example, may be issued within just one hour. So, SIBA is one of the fastest Registrars all over the world.

02.07.07

NEPC fights for economic growth

Posted in Business and Economy, Seychelles offshore jurisdiction at 10:40 am by Robert Klien

On January 31, 2007, Members of the National Economic Planning Council (NEPC) met under the chairmanship of President James Michel to look for ways to remove obstacles that trouble the increasing economic growth impetus.

The meeting is the 3rd on the NEPC calendar which starts in September and has eight meetings scheduled annually, and the 1st meeting in 2007. The meeting included 3 presentations.

The Council is sure that the economy is set to continue growing rapidly.

According to the Council’s secretary, Caroline Abel, the fisheries and tourism are sectors to grow very rapidly. Also, households are increasing in numbers. The Internet connectivity and financial services were also discussed at the meeting.

The 1st presentation was made by the Public Utilities Corporation (PUC) responding to issues raised at the last National Economic Planning Council meeting which suggested future electricity supply capacity to be analyzed as the economy becomes more dynamic.

The 2nd presentation by the principal secretary for International Relations, Vivianne Fock-Tave, discussed on the economic partnership agreements with the European Union with regard to the Cotonou agreement. The agreement giving the ACP countries accession privileges into the EU market is coming to an end this year. According to the Council’s secretary, there is a new system being negotiated with the EU.

The 3rd presentation on the strategy on the vision was presented by President Michel. The presentation discussed the future of the Seychelles in the next 5-10 years. Over the last 30 years the economy has grown in a particular direction. Now, given the new momentum, the Seychellois government is looking at where the sources of growth will be.

02.02.07

Seychelles to be visited by China’s President

Posted in Business and Economy, International relations at 3:52 pm by Robert Klien

In February, the President of the People’s Republic of China, His Excellency Mr Hu Jintao, plans  a State Visit to the Seychelles to respond to the invitation of Seychellois President James A Michel.

China’s President will be in the Seychelles from February 9-10, 2007. He will arrive with a big delegation including State Counsellor H.E. Mr Tang Jiaxuan, several Ministers as well as other high-level dignitaries.

It should be reminded that Seychelles President Michel visited China just 3 months ago – in November 2006. This obviously shows great friendship and esteem between Victoria and Beijing. President Michel  extended his invitation to the leader of the People’s Republic of China to visit the Seychelles during his last-year meeting with President Hu in Beijing.

It is also worth mentioning that President Hu Jintao will be the 1st Chinese Head of State to visit the Seychelles since the establishment of diplomatic relations between the 2 countries in July 1976.

Also, this will be his 1st visit of President Hu Jintao to the Indian Ocean region.

The visit will be part of a tour of his 10-day 8-nation African tour in South Africa, which is to start on February 7, 2007. Besides the Seychelles, Hu will pay visits to Sudan, Cameroon, Liberia, Mozambique, Zambia, Namibia.