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Guide to start a business in Seychelles

Staff Reporter | 3:25 AM |

Formal registration of companies has many immediate benefits for the companies and for business owners and employees. Legal entities can outlive their founders. Resources are pooled as several shareholders join forces to start a company. Formally registered companies have access to services and institutions from courts to banks as well as to new markets. And their employees can benefit from protections provided by the law. An additional benefit comes with limited liability companies. These limit the financial liability of company owners to their investments, so personal assets of the owners are not put at risk. Where governments make registration easy, more entrepreneurs start businesses in the formal sector, creating more good jobs and generating more revenue for the government.



Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in Seychelles. It examines the procedures, time and cost involved in launching a commercial or industrial firm with up to 50 employees and start-up capital of 10 times the economy's per-capita gross national income.

This information was collected from World Bank: Doing Business 
No.ProcedureTime to CompleteAssociated Costs
1Verify uniqueness of company name1-2 daysno charge
2Notarize signatures of the Memorandum and obtain declaration by notary or attorney that company documents comply with the Companies Act.1 dayBetween SR 5000 to SR 15000
3Deposit documents at Companies Division of Registrar General for stamp duty assessment3-4 dayssee comments
4Pay stamp duties at the Registry1 dayincluded in procedure 2
5Obtain registration certificate6-10 daysno charge
6File particulars of the directors and company, and the registered officeapproximately 7 daysSR 50 per document
7Obtain business license7 to 21 daysSR 1,000 (for retail)
8Register for taxes at the Revenue Commission1 dayno charge
9Register as an employer with social security division1 dayno charge
10Register with Employment Services Bureau1 dayno charge