sib.gov.sc Investment Appeal Procedure : Seychelles Investment Board

Organization : Seychelles Investment Board
Type of Facility : Investment Appeal Procedure
Country: Seychelles

Website : http://www.sib.gov.sc/index.php/investment-guide/investment-appeals/about-the-panel

Investment Appeal Procedure :

About the Panel:
The Investment Appeal Panel was set up in 2012 under the Seychelles Investment Act, 2010 to provide an appeal mechanism for aggrieved investors who wish to make an appeal against decisions taken by public sector agencies regarding their investments or proposed investments.

Related : Investment Board Online Business Registration Seychelles : www.statusin.org/8590.html

According to the Act, an investor is entitled to apply to the Panel for:
A review of a decision made by a public sector agency with regard to that investor’s investment or proposed investment where the investor is not satisfied with the decision of the public sector agency

An order where the public sector agency does not issue a decision within the required time limit.

As per the Act, an application for review must be made in writing and the applicant must specify his or her reasons for making the appeal.

Following the receipt of an appeal, the Panel may either dismiss the application or may, if it determines that there is merit in it, order one or more of the following remedies:
Recommend the annulment in whole or in part of any unauthorized act or decision, or remedying of any omission of the public sector agency;
Recommend a re-evaluation of an application

In addition, if the applicant is aggrieved by the decision of the Panel, then he or she may appeal against that decision to the Supreme Court.

Appeal Procedure:
The appeals pannel can be reached at investmentappeal AT gov.sc

Why Invest in Seychelles :
** Seychelles is safe
** A Stable Political Environment

** Favourable Time Zone of 4+ GMT
** Main Population Centres Outside The Cyclone Belt
** 96% Adult Literacy Rate and Life Expectancy Of 77 Years Old

** Labour Force Fluent in English, French and Creole
** Multi-Racial Population
** Excellent Air and Sea Connectivity from Major Hubs such as Middle East, Africa and Asia
** Favourable tax regimes for investment in the Tourism, Agriculture, Energy and Fisheries sectors
** World class Financial Centre with no foreign exchange restrictions

Prior to Arrival in Seychelles :
How to Get a Work Permit?
** A Gainful Occupation Permit (GOP)/Work Permit allows the holders to be gainfully occupied in Seychelles and this could be an employer or as a self-employed person.

** The application for the GOP should be submitted at least ten weeks before the employee is due to start work, and he/she must not enter the country for the purpose of taking up employment prior to obtaining the GOP.

** The application form is to be completed by the person seeking the permit in the case of a self-employed or by the prospective employer.

** The fee for processing the application is SR1000/.
** The fee for the whole duration of the permit being sought for is SR700/- per month and should also accompany the application.

How to Get a Residence Permit?
A Residence Permit is issued to a person who :
** is not a prohibited immigrant;
** has a family or domestic connect with Seychelles;
** has made or will make special contribution to the economic, social or cultural life of Seychelles.

The holder of the Residence Permit :
** Must during the validity of the permit reside in Seychelles for at least five days during each twelve months of the term of the permit;

** if the permit holder resides in Seychelles for more than one month (in any year) he/she shall keep a deposit with a bank in Seychelles or provide a bank guarantee to the Director General of Immigration, of not less than SR20,000/- and allow the Director General of Immigration to draw on the deposit or call on the guarantee for the purpose of meeting expenditure incurred by the government in connection with the care, treatment or maintenance within or removal from Seychelles of the permit holder and his/her dependants;

** The fee for processing the application is US$115/- and the fee for the resident Permit is SR50,000/- for the main application and SR25,000/- for the spouse if applied at the same time.
** The fee for endorsement of each minor dependant on a Residence Permit is SR1,000/-.

About Us :
SIB is committed to offering first class services to promote, attract and retain investment; To work in close collaboration with our key stakeholders to stimulate, identify and facilitate investment.

Mail is collected by the appeal pannel Seychelles Investment Board and so should be marked as such when submitted:
Appeals Pannel
C/O Seychelles Investment Board
PO BOX 1167
Caravelle House
Victoria
Mahe
Seychelles