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The government of the Seychelles welcomes foreigners and offers the residency permits for them if they in the economic development of the country.
If foreign citizens purchase real estates like villas, penthouses, apartments or maisons in the Seychelles islands, they qualify naturally for the residence permit. The applicant can obtain the Seychelles residency permit up to six person with spouse and children.
It is good to know that the real estate prices in the Seychelles are high and start from USD400,000. The estimated cost of villas is (minimum) 600,000 and the price of maisons start around USD1 million.
The already granted residency permit is valid for five years, after the time limit must be renewed by paying the application fee of approximately USD12,500.
The Seychelles Islands are still a financial offshore paradise, but buying shares and banking is not so anonymous as before. However, there is no inheritance tax, no capital gains tax and no individual income tax. Also, if you have a business that is classified as non-resident and does not source its income from the islands, no taxes are payable. Onshore income that the resident creates from business within the islands, there is a progressive tax rate of 0-33 percent.
It is good to know that holder of a Seychelles residency permit must reside in the islands for at least five days during each year of the term of the permit. If the holder of the Seychelles residency permit lives more than one month per year there, must keep at least Sr20,000 deposit with a local bank. The resident lives in the Seychelles, also have to prove that he/she has brought for personal use not less that Sr100,000.
The Seychelles does not have citizenship for investment program anymore. It existed some years ago, but only for a short period of time and then was cancelled. If the resident lives in the country for 5 years, he/she can apply for the citizenship and the Seychelles passport.
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