Seychelles relies on the financial industry, however, this is not the only developed economic sector of the country. In recent years, trading has also increased its contribution to the economy which is why setting up a trading company in Seychelles has become appealing for foreign investors.
Foreign investors who want to open companies in Seychelles are invited to read below about the imports and exports of this country. They can also rely on our company formation agents for detailed information on imports and exports in Seychelles and related procedures for companies engaged in such activities.
If you want to open a company in Seychelles, our local consultants are at your service.
Imports in Seychelles
Seychelles is an insular state in the Indian Ocean, however, it has trading relations with countries all over the world. Companies operating here engage in the import of various goods they sell on the Seychelles market. Among the most imported products in Seychelles are:
- – petroleum and crude oil which amounted to 231,517 million USD in 2018;
- – frozen fish which represents 18% of all imports entering the country;
- – vessels for water recreational activities and other transportation means which combined account for 13.7%;
- – the total number of imported products is around 3,410 and they are imported from 157 countries.
In terms of import partners, the United Arab Emirates, France, Spain, the United Kingdom and South Africa represent the most important ones.
If you are interested in opening an offshore company in Seychelles, you can rely on our local consultants. Our lawyers can offer information on the main import procedures that need to be completed when bringing goods from various countries around the world into Seychelles.
Our team can provide in-depth information on the current import-export policies, taxes, and regulations. You can also rely on us for professional assistance on any of the Seychelles offshore legal entities that are recommended for foreign investors.
We can present the procedures for the incorporation of the business and any other steps you must comply with post-incorporation.
Exports in Seychelles
In terms of exports, Seychelles occupies the 154th position among global economies. Due its size, Seychelles relies more on imports, however, in terms of exports:
- – processed fish products are the most exported goods from Seychelles, accounting to more than 70% of the total exports;
- – motorboats are also among the top exports of Seychelles; in 2018 the value of such exports was 212,590 million USD;
- – the export of petroleum-based products was valued at 159,494 million USD;
- – the UAE was Seychelles’ main export partner, the value of the goods exported there in 2018 amounting to 203 million USD.
You can rely on our lawyers in Seychelles for information on the formalities that need to be completed when doing trading activities in this country. We can also assist those who want to register vessels in Seychelles, given the great trading opportunities.
In terms of import and export partners and portion of the Gross Domestic Product (GDP) for Seychelles:
- the UAE is the most important trading partner with shares of 28% in terms of imports and approximately 24% in terms of exports;
- the United Kingdom is an important trading partners with shares of 7% in imports and 19% in exports;
- in the European Union, France is Seychelles’ most important partner with 10.36% in terms of imports and 15.53% in terms of exports;
- imports account for 102% of the GDP, while exports account for 87% of its GDP.
For complete information and assistance in setting up a trading company in Seychelles, you can rely on our company registration agents. You can also count on us for various legal services.
We can also provide assistance in bank account opening in Seychelles.
Starting a trading company in Seychelles
In order to engage in import and export activities in Seychelles, local and foreign investors need to incorporate a business with the Companies Registrar first. The anonymous company is one of the preferred business forms among foreign investors seeking to operate in Seychelles.
The registration of a trading company in Seychelles will be completed in accordance with the Company Law, however, additional steps need to be taken among which registration for VAT. Since Seychelles has important trading relations with EU countries, companies registered here will be required to obtain EORI numbers when importing and exporting goods from member states.
All trading activities in Seychelles are completed based on the registration with the Revenue Commission for various customs procedures.
The import and export of goods in/from Seychelles will be completed based on specific documents that must accompany the merchandise. Among these, bills of landing, certificates of origins and of value, packaging lists, as well as special certificates in the case of specific categories of products are required.
Companies are also required to apply for import and export permits for every activity they complete.
For complete information on imports and exports, please contact our Seychelles company formation agents.