SEYCHELLES Law and Practice Contributed by: Tamara Christen, Christen Chambers
following submission of a formal application (together with the requisite plans, supporting reports, and fees). The Authority may consult other public bodies, require amendments, impose conditions, or refuse permis - sion; in practice, large or sensitive schemes often involve pre-application engagement and, for foreign- owned or investment-driven projects, co-ordination with the SIB and other competent authorities. The regulatory framework provides both for public participation and for formal appeals. For plan mak - ing, the Land Use and Development Plans Regula - tions require publication of draft plans, public notice for inspection, and the opportunity for affected par - ties to lodge representations or objections, which the SPA must consider before finalising and approving the plan. For individual development proposals, the SPA may require public consultation, and the public is generally afforded an opportunity to inspect certain applications and submit written comments or objec - tions within a specified period (often 14 days) follow - ing publication or lodging of the plans with the district administration. A person aggrieved by a decision of the SPA on a development application, or by enforcement-related measures, has a statutory right of appeal. Under the Physical Planning Act and the Physical Planning (Appeals Rules of Procedure) Regulations 2022, an aggrieved applicant or other entitled person may lodge a notice of appeal to the Appeals Board with - in the prescribed period, using the formal notice of appeal process, and the Appeals Board is empowered to confirm, vary, or overturn the SPA’s decision. There is also a right of appeal against enforcement instru - ments such as stop notices, enforcement notices, and notices of immediate enforcement issued under the Act. Planning and zoning restrictions are enforced through a combination of development permission require - ments, monitoring and inspections, and statutory enforcement powers. The SPA may issue stop notic - es and enforcement notices where it considers that unauthorised development is taking place or that conditions have been breached, and may take reme - dial steps or refer matters for legal proceedings and penalties if necessary. In some cases, development
projects are underpinned by specific agreements with the government or other public bodies (for example, large-scale tourism or mixed-use developments such as Eden Island), which may address land subdivi - sion, concessions, conditions for development and sale, and, where relevant, the conversion of lease - hold interests to freehold; developers also typically conclude service agreements with utility providers to secure connections and infrastructure necessary for the approved development. 5. Investment Vehicles 5.1 Types of Entities Available to Investors to Hold Real Estate Assets Seychelles allows real estate assets to be held either in the owner’s personal name or through a domestic company. Shareholding of the domestic entity may be a foreign entity provided the structure is transparent. A domestic entity requires a minimum of two sharehold - ers and two directors. The preference of ownership is completely dependent on the circumstance. 5.2 Main Features and Tax Implications of the Constitution of Each Type of Entity A Seychelles domestic company is required for a limit - ed liability company. Shareholding can be through for - eign entities. All corporate documents and beneficial ownership registers are required for the full structure. 5.3 REITs REIT vehicles are not common in Seychelles. 5.4 Minimum Capital Requirement The law allows the founders to freely decide the amount of authorised or paid-up share capital and there is no minimum capital required to set up a domestic company in Seychelles. 5.5 Applicable Governance Requirements A domestic company has disclosure requirements under the Beneficial Ownership Act for ownership above 10%.
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