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  ABOUT SEYCHELLES

SEYCHELLES

The Republic of Seychelles consists of 115 islands in the Indian Ocean east of Kenya and north east of Madagascar. The major islands are Mahe, Praslin and LaDique. The capital which is Victoria is on the main island Mahe. The population of Seychelles Islands is approximately 80,000. The official languages are English, French and Creole.

In 1979 a constitutional change created a one party state until 1993, when the constitution was once again amended to revert to a multi-party system. The Republic of Seychelles is an Independent Democracy with its own constitution and holds free multi-party elections.

The Seychelles Islands gained independence from Britain on the 29th of June, 1976. The last constitution which provides for the multi-party system was written on June 18, 1993. The Head of Government and Chief of State is the President. He is elected every five years by popular vote. The President heads the Executive Branch of Government and he appoints a Council of Ministers to form the Cabinet. The Legislative Branch consists of 25 elected members from the various parties whose representatives' contest for the districts by popular vote. Nine members are appointed to the national assembly to make up the 34-seat National Assembly. The legal system is based on English Common Law, French Civil Law and Local Statute and custom. The Judicial Branch consists of The Court of Appeal and The Supreme Court. Judges for both courts are appointed by the President.

Growth has been led by tourism, which employs approximately 30% of the labor force. Attempts are being made by the government to reduce its dependence on tourism by diversifying the economy and promoting the expansion into farming, fishing, small-scale manufacturing and the further privatization of public enterprises.

The offshore financial services sector is in its early stage. Incorporation of a Seychelles IBC is executed under the governing legislation which is the International Companies Act 1994 and statutory requirements are minimal and flexible which makes incorporating in Seychelles uncomplicated. The Seychelles Islands are optimistic about the outcome of the sector.

The offshore financial services sector is in its early stage. Incorporation of an offshore company is executed under the governing legislation which is the International Companies Act 1994 and statutory requirements are minimal and flexible which makes incorporating an uncomplicated process. Seychelles IBC's are very prestigious offshore structures. The offshore company formation process is very straight forward and you can choose from incorporation or shelf companies. Please choose corresponding menu on the left.


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