6 Steps for Start-Ups
The following steps also apply to projects with foreign partnership carried out by citizens.
These are 6 general steps that you need to follow in order to set up your
business.
1. Submit a project memorandum
You need to get an approval from the Government of Seychelles
by submitting
a business plan/project memorandum of your proposed project/business to the
Seychelles Investment
Bureau (SIB). Your project memorandum must be in line
with
SIB Guidelines.
The bureau will process your project proposal and communicate the decision by way
of a formal letter to you within 30 days from the date of receipt of your proposal,
if no other documents requested by SIB are required.
After obtaining an approval for your project proposal, you must then begin the
process
of obtaining the required licenses.
2.Register your business
You need to register your business with the appropriate authority. For most business,
this will be the
Registrar.
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3. Obtain a construction permission
You need to apply for a
contruction permission if your business involved any
construction from the
Planning
Authority, Ministry of National Development.
An
Environment Impact Assessment (EIA)
from the
Department of Environment will be carried out as well.
4.Occupational Safety and Health Inspection
If your business consists of activities, such as food or chemical processing, that can put the life
of the public and your employees at risk, an Occupational Safety and Health inspection
needs to be carried out. Contact the
Department of Health, Ministry of
Health and Social Development for more information.
5.Apply for a permit or license
In order for your business to be operational, you need to apply for your
license or permit from the
Seychelles Licensing Authority(SLA).
6.Register with Social Security Fund
Within 7 days of the commencement of your business, your business needs to be
registered with the
Social Security Fund, Ministry of Finance.