Opening a recruitment company in Seychelles is a simple process. It involves selecting the appropriate business structure for your company, complying with the legal requirements, and registering with the local authorities. An important aspect for recruitment companies is that they must be well-informed about the Labor Law in Seychelles. Our specialists in company formation in Seychelles can help entrepreneurs set up their recruitment company and explain the labor regulations.
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How to set up a recruitment company in Seychelles
The first step in setting up a recruitment company in Seychelles is choosing the legal structure for the business. We recommend entrepreneurs open a proprietary limited company (Pty. Ltd.). This is the Seychelles equivalent of the limited liability company (LLC). This type of company is a private entity where shareholders have limited liability.
There are several benefits to choosing a proprietary limited company as your business structure. The company can be fully owned by foreigners. Additionally, there is no legal obligation to appoint a director.
To open a company in Seychelles as a limited liability structure, a minimum of two shareholders is required. Their names are confident. Proprietary limited companies do not have a required minimum share capital.
Working hours and overtime in Seychelles
Working hours and overtime regulations are important when opening a recruitment company in Seychelles.
According to the Employment Act, the standard workweek in Seychelles is a maximum of 52 hours. The daily working hours are limited to 12. Employees are permitted to work a maximum of 60 hours of overtime per month, meaning 15 extra hours per week. Overtime compensation varies depending on the type of worker and the day of the week.
Overtime compensation is different for non-shift and shift workers. Our specialists in company incorporation in Seychelles are also knowledgeable of labor regulations and can help you in this matter. Non-shift workers receive overtime pay at a rate of 150% of their regular wage for weekdays and 200% for public holidays. Shift workers earn 150% for overtime on weekdays or Sundays, and 300% for hours worked on public holidays. Employees and employers can negotiate higher overtime pay rates if they wish.
Statistics about the workforce in Seychelles
If you want to set up a recruitment company in Seychelles, our team has selected some statistics about the workforce level in the country. The information is as of the fourth quarter of 2023:
- 54,931 individuals were employed;
- The average number of employed persons in the tourism private sector was 12,797;
- Financial and insurance service sectors saw a 20.7% employment increase compared to the fourth quarter of 2022;
- Arts, entertainment, and recreation services registered a 10.4% increase in employment compared to the fourth quarter of 2022.
Our company formation services also include opening a Seychelles offshore company. We can help foreign investors establish a Seychelles IBC.
Please contact our team if you want to set up a company in Seychelles or if you need advice on other legal matters.