OECD places Seychelles on White List

Posted in Financial Services, Seychelles offshore jurisdiction, SIBA at 7:16 pm by Robert Klien

Seychelles has been listed by the Organisation for Economic Cooperation and Development (OECD) among 40 countries on its “white list”. The white list includes such countries as the United Kingdom, the USA, Canada, Sweden, France, Germany and New Zealand. Accordingly, Seychelles has been listed among many developed countries

Steve Fanny, chief executive of the Seychelles International Business Authority, said that this fact means that Seychelles is not on the OECD’s black or grey list. Fanny said that Seychelles used to have substantially imposed internationally agreed tax standards in a transparent manner and that this offshore jurisdiction has made every effort to know its customers in order to avoid the risk of providing havens for criminals.

It is worth noting that since April 2 the international media have been reporting on the disappointment of countries placed on the OECD’s grey or black list despite years of striving to get into the white list.


Seychellois President urges entrepreneurial development

Posted in Business and Economy, Seychelles government, Seychelles legislation at 3:44 pm by Robert Klien

President James Michel has recently repeated his call for Seychellois to be innovative and develop as entrepreneurs because this is a good way to make for a living and to create employment. President Michel expressed his confidence that in future this will be an important sector in the economy of Seychelles.

This was said in the speech the President held in his monthly television programme entitled En Moman Avek Prezidan. The theme of this progremme’s interview was employment. He noted that creating jobs is not easy, and employment comes through investment or through the support to businesses in the private sector.

To urge entrepreneurial development, the President announced a doubling of funds of the Small Credit Agency – from R10 million to R20 million and an increase in the maximum amount that can be borrowed by from R200 000 to R300 000. The economic programme is aimed to encourage people to start their own businesses.

The President suggests that small businesses, especially those Seychellois-owned ones, are of a special importance.


Seychelles leaders discuss essential issues

Posted in Business and Economy, Seychelles government at 1:39 pm by Robert Klien

On March 11, Seychelois President James Michel and leader of government business Marie-Louise Potter discussed key issues that affect the people. They also repeatedly called for unity at this difficult time.

After the 1st high-level forum that Mr Michel proposed between himself, the leader of government business and the leader of the opposition Wavel Ramkalawan, both leaders were talking to the media at State House.

Both Michel and Potter expressed regret that Wavel Ramkalawan had missed this opportunity and declined the offer to come and discuss issues of national importance. However, Michel noted that the leaders of opoposition is still welcome to join the discussions that are important for helping Seychelles to face the challenges presented to by the global economic crisis.

In order to address key issues for Seychelles, the leaders are expected to meet as often as possible.