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Articles

Most Profitable Industries in Seychelles

Written by: Editor

Despite numerous constraints because of its small size, Seychelles successfully manages the economic and social development and can be regarded as an exemplary jurisdiction which is headed on a sustainable development trend. As follows, our company formation advisors in Seychelles present a few of the most profitable industries in Seychelles.
 

The tourism industry in Seychelles

 
Since 1976, when Seychelles gained its independence and opened its international airport several years later, the country started to develop a strong tourism sector.
 
The island has plenty of natural resources and a wonderful wildlife, therefore the tourism concentrates on attracting visitors who like to be surrounded by the beauty of nature.
 
Tourism packages, comprising accommodations, are extremely looked for. Seychelles is visited by hundreds of thousands of tourists each year, most of them coming from Europe.
 
The profits deriving from this sector account for around 20% of the GDP (Gross Domestic Product), which translates into more than USD 600 million in a typical year.
 
Around 15% of the local workforce has jobs in this industry. The local government is still searching for new ways of developing the current tourism strategy so that Seychelles can become an even more attractive tourism destination.
 
Our Seychelles company formation consultants can help you open a company in the tourism industry in Seychelles.
 

Fisheries

 
It is one of the most profitable industries in Seychelles. The country is heavily relying on the rich fishing which is available here in order to sustain it.
 
More recently, fishing here has developed from a sector which was meant to provide only for the local population to one which is capable of competing internationally, earning crucial foreign currency for Seychelles.
 
Even though canned tuna is the main export, the fisheries industry as a whole is beginning to develop fields such as tuna loins and other high-value fishery goods, since there is plenty of fish which is caught here and a long-standing expertise in the field in this jurisdiction.
 

Financial services in Seychelles

 
Being regulated by the Central Bank of Seychelles, the activities of commercial and offshore banks at the present are an important contributor to the local GDP. Our company registration agents in Seychelles can help you set up a company in this sector here.
 
The transaction transparency and improved economic liberalization of the domestic economy have been attained through the setting up of the Non-Bank Financial Services Authority (NBFSA), which regulates the insurance, mutual funds and stock exchange operations, according to the Mutual Funds Act and the Securities Act.
 
If you would like to know more about the economic sectors in Seychelles or for assistance in setting up a company in Seychelles, please contact us.

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