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Friday, October 23, 2020

Seychelles Property and Citizenship Guide

Location of Seychelles

Key Facts:

Climate – tropical marine; humid; cooler season during southeast monsoon (late May to September); warmer season during northwest monsoon (March to May)

GDP (Per Capita) (2019) – $16,332

Population (2018) – 97,096

Official language – English, French, Seychellois Creole

Major religions – Christianity (89.2%), Hinduism (2.4%), Islam (1.6%)

Ethnic Groups – Seychellois Creoles (93.2%), British (3.0%), French (1.8%), Chinese (0.5% ), Indian (0.3%)

Government – presidential republic

Currency – Seychellois Rupee (SCR)

Taxes – In Seychelles, the Personal Income Tax Rate is a tax collected from individuals and is imposed on different sources of income like labor, pensions, interest and dividends. The benchmark that is used refers to the Top Marginal Tax Rate for individuals. Revenues from the Personal Income Tax Rate are an important source of income for the government of Seychelles. The Personal Income Tax Rate in Seychelles stands at 15%.

Residency by Investment:

The residency permit requires a real estate purchase from approved properties where prices can start at around US$500,000.

The 1st type permanent residence permit requires a minimum US$1-million investment in a business located in Seychelles. You must also have resided in the country for a year.

The 2nd type involves the same amount but requires that you manage the business for five years as a result of the direct investment. In this case no residency requirement is necessary.

You are to keep the minimum US$1-million investment in the business while residing an aggregate period of 11 years in Seychelles in order to acquire citizenship.

Citizenship by Investment:

To be Updated.

Why it makes sense?

To be Updated.

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