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Seychelles, formally the Republic of Seychelles (French: République des Seychelles; Creole: La Repiblik Sesel), is an archipelago of 115 islands in the Indian Ocean off the coast of Somalia. Victoria, its capital and biggest city, lies 1,500 kilometers (800 nautical miles) east of continental Africa. To the south, the Comoros, Madagascar, Mauritius, and the French overseas territory of Mayotte and Réunion; and to the east, the Maldives and the Chagos Archipelago (ruled by the United Kingdom as the British Indian Ocean Territory). With an expected 2020 population of 98,462, it is the least populated sovereign African nation.
Prior to the arrival of Europeans in the 16th century, Seychelles was uninhabited. It was subject to rival French and British interests until it fell completely under British authority in the late 18th century. Since declaring independence from the United Kingdom in 1976, it has progressed from a mostly agrarian culture to a market-based, diverse economy typified by fast-expanding service, public sector, and tourist industries. From 1976 to 2015, nominal GDP increased by approximately 700% and purchasing power parity increased by over 1600%. The government has made initiatives to promote international investment since the late 2010s.
Seychelles now has the greatest nominal per capita GDP of any African country. After Mauritius, it has the highest Human Development Index of any African nation. The World Bank classifies it as one of just two African nations with a high-income economy (the other being Mauritius).
Seychellois culture and society are an eclectic combination of French, British, and African influences, with more modern Chinese and Indian infusions. The nation is a member of many organizations, including the United Nations, the African Union, the Southern African Development Community, and the Commonwealth of Nations.
After one year of work, full-time employees are entitled to 24 days of paid annual vacation in addition to public holidays. Employees who have been working for less than a year are entitled to two days of vacation every month. Part-time employees are given prorated leave. The date on which leave can be taken is agreed upon by both the employer and the employee. Employers cannot give money in place of leave, and accrued leave does not carry over to the next year. Any accumulated but unused vacation, on the other hand, is compensated upon departure from service. Employees can also take up to four days of compassionate leave each year.
New Year’s Holiday
All Saint’s Day
Immaculate Conception Day
Employees are entitled to a total of 21 days of paid sick leave. If necessary, employees are entitled to an extra 30 days of paid sick leave and 60 days of unpaid sick leave.
Employees who are female are entitled to 16 weeks of paid maternity leave. After the delivery, at least 12 weeks of maternity leave must be taken. Female employees are also entitled to an additional four weeks of unpaid leave, which can be utilized before or after the birth of their child. Employees must provide their employers three months' notice of the projected due date.
Employees who are fathers are entitled to at least ten days of paid paternity leave. Employees must be the father, declare paternity, and take paternity leave within four months of the birth to be eligible for paternity leave. At least eight weeks before the delivery, male employees must notify their employers of their intention to take paternity leave, as well as the particular dates of absence two weeks in advance. If the mother dies during or shortly after childbirth, the father is entitled to an extension of paternity leave equal to the amount of unused maternity leave. Seychelles' social security system pays maternity and paternity payments. Employers cover the gap between the employee's full wage and her social security maternity benefits.
Apart from maternity and paternity leaves, there are no other provisions in the Seychelles law regarding parental leave.
Employers may terminate an employment contract with notice following disciplinary proceedings. If it is a major crime, the employee must be informed in writing and given the opportunity to react. Disciplinary action may include immediate firing. The termination must be in writing and delivered to the employee's union representative, if appropriate.
Employers and employees may terminate an employee contract with notice in the following circumstances: during the probationary period if the employee's performance is unsatisfactory; during the training period if the trainee does not successfully complete the training due to a change in employment terms that the employee does not consent to; change in ownership of the business; and casual or part-time employment.
Employers must provide notice of termination to employees on fixed-term contracts as well as those who reach the legal retirement age. At the very least, this notice period must be one month. Acceptable is payment in lieu of notice.
Employees have the right to end their employment contracts without notice if their employer breaches the employment contract, violates labor law, or the employee is laid off. The employee must provide written notice to the employer.
A casual worker is entitled to one day's notice; an employee on probation is entitled to seven days' notice; all other workers, except non-Seychelles employees, are entitled to one month's notice; and a non-Seychelles employee is entitled to one month's notice or the notice period specified in the contract.
Probationary periods in Seychelles are permitted. The length of which are contingent upon the employment agreement between the employer and the employee.
Employers are responsible for termination compensation and wages, except in instances where an employee is terminated for disciplinary reasons. Additionally, employees are entitled to compensation upon resignation (other than while on suspension or pending disciplinary action) or upon retirement after five years of service.
The standard workweek is 60 hours and eight hours per day, spread over six days, with a mandatory 24-hour rest period each week.
Overtime hours are limited to 15 per week or 60 per month. If work is performed on a weekday, overtime is paid at 150 percent of the basic rate; if work is performed on a rest day or holiday, overtime is paid at 200 percent of the basic rate. Overtime is paid at 150 percent of the basic rate for shift workers and at 300 percent of the basic rate for work performed on a public holiday.
The minimum wage in Seychelles varies based on the kind of employment. Casual employees are paid SR 30.78 per hour, while all other employees shall be paid at least SR 26.70 per hour.
Although the state provides universal health care to its people, private health insurance is advised.
Mandatory benefits postulated by law include a probationary period, pay on annual leaves, public holidays, sick leaves, maternity leave, paternity leave, and overtime pay. Statutory benefits also include social security benefits.
Companies in Seychelles are subject to a corporate income tax rate of 33 percent.
Taxable persons in Seychelles are subject to a flat personal income tax rate of 15 percent.
The value-added tax (VAT) or goods and sales tax (GST) in Seychelles is set at 15 percent.
Before you go to Seychelles, you should check the country's visa rules to determine whether you require a visa. Fortunately for you, Seychelles is a tiny slice of paradise that is available to anyone. Everyone, with the exception of Kosovo passport holders, is welcome visa-free. You can remain for up to three months, but you can seek additional extensions. The period you stay there, however, cannot exceed 12 months.
Everyone is welcome to visit Seychelles without a visa. There are no visa requirements for the Seychelles. You do not need to worry about it since a visa is not necessary. However, this does not alter the fact that you need further documentation. To begin, you must have a valid passport in order to go to Seychelles. At the same time, the passport must be valid not only for entry into the nation, but also for exit. Aside from that, you will need to provide confirmation of adequate finances while in Seychelles. It is sufficient to pay $150 every day. The immigration officer will want to see your cash, so take it out of your wallet and display it to him. If you have credit cards, you may be required to produce a balance to the officer.
Proof of lodging is also necessary, and a hotel reservation confirmation should suffice. You will not be permitted to leave the airport if you do not have a confirmation. Finally, you must have a return airplane ticket. The main worry for the immigration authorities is that you do not intend to stay in Seychelles permanently.
In Seychelles, employment contracts must be in written and might be in English, French, or Creole. The following information must be included in an employment contract:
Employer and employee names
Probation period, if applicable, not to exceed six months
Place of employment
Employment contracts might be for a set or an indeterminate amount of time. A fixed-term contract must be for a minimum of three months. Seychelles also accepts part-time and temporary job contracts. Part-time employment contracts are limited to 25 hours per week. Casual work employment contracts are for workers who work on a daily basis and are typically used to temporarily cover a job until a permanent employee can be employed. Casual job employment contracts are not have to be in writing and may last up to three months.
There is no set length for assignments. This is usually indicated in the employment contract for fixed-term employments.
Before you begin working out how to establish up a Seychelles subsidiary, you need consider a few key considerations. It is important to know where you are in Seychelles since various towns or areas have their own Seychelles subsidiary laws. Before choosing on a real office space, we suggest studying your ideal location to determine how simple or difficult it would be to expand there.
In Seychelles, a subsidiary may take numerous forms, including an offshore business, special licensing company, limited liability company (LLC), or branch office. Each structure has its own set of laws and regulations that affect the kind of job you may undertake in Seychelles. Many businesses opt to form as an LLC since it helps both the subsidiary and the parent company.
The following actions will be required to set up your Seychelles subsidiary as an LLC:
1. Filing information about the parent company with the Companies Register, including a copy of the certificate of incorporation
2. Creating and submitting articles of incorporation
3. Providing information about the directors and company secretary of the subsidiary
4. After paying registration costs, you will be sent a receipt.
5. Creating a local bank account in order to pay personnel
The subsidiary laws of Seychelles vary depending on the entity selected. LLCs need a minimum of $1 in paid-up capital as well as certain officers, such as:
1. Two shareholders, both of whom may be companies or non-residents
2. Two independent resident directors
3. There is one resident company secretary.
Every subsidiary in Seychelles is required to pay a corporate income tax of 33% on its profits. Once your Seychelles subsidiary is established as an LLC, you may deal in all sectors with both residents and non-residents as long as you have the necessary licenses for regulated businesses.