SEYCHELLES Law and Practice Contributed by: Valery Freminot, Salina Sinon, Ruby Simeon and Hazel Naiken, Rivard Nariman
Rights in Immovable Property A non-native must submit an application for approval and pay the application fee to the Ministry of Lands and Housing. The application will be considered by the Ministry of Lands and Housing and a decision is usually communicated within a month. Any sale or lease of an immovable property to a non-Seychellois without the prior approval of the Minister is unlawful and void. The applicant could be liable to a fine or imprisonment. 2.3 Commitments Required From Foreign Investors Depending on the type of investment, the gov - ernment departments and/or authorities may approve the business plan/project subject to certain conditions, such as: • that planning permission is obtained for the construction of buildings or structures; • that health and safety requirements are met; • that an environmental permit is sought; • that the applicant is granted permission for the purchase or lease of the immovable prop - erty; and • that a licence is obtained for the business in question. 2.4 Right to Appeal If a non-native investor is not satisfied with the decision of a government department or author - ity with regard to its investment, they may apply to the Investment Appeal Panel for a review of the decision taken. Their application must be made in writing, specifying the reasons for the review, and an application fee must be paid. The Investment Appeal Panel must make a deci - sion within 30 days of the date of submission of the application. The panel may dismiss the
A non-native cannot acquire or lease immov - able property in Seychelles without having first obtained the permission of the government. If an investment results in them acquiring rights in immovable property, they must therefore obtain the approval of the government before executing any transfer instrument or lease. Investment Process In practice, a non-native investor must submit a business plan together with the relevant docu - ments to the Seychelles Investment Board (SIB). If the application is in order, the business plan/ project will be registered with the SIB within 48 hours. The SIB will liaise with the relevant government departments or authorities for their comments and recommendations on the busi - ness project. The SIB usually provides feedback to the investor within 14–30 days, depending on the type of investment. If the investment is for an economic activity that is not covered in the Seychelles Investment (Economic Activities) Regulations 2022, an eco - nomic needs test must first be performed. The business plan/project will be submitted to the Economic Needs Test Committee for its evalua - tion and consideration. The government departments and/or authorities must have no objections to the business plan/ project for the investor to be able to implement the business/project. It is very unlikely that a non-Seychellois investor will be able to invest without their approval. 2.2 Procedure and Sanctions in the Event of Non-Compliance The steps that foreign investors must take to obtain approval for investment in an economic activity are outlined in 2.1 Approval of Foreign Investments (Investment Process).
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