Seychelles Investment Bureau Will Act As ‘One Stop Shop’ For Investors
by Lorys Charalambous, Tax-News.com, Cyprus
05 July 2004

The promotion of the Seychelles investment sector is to become the responsibility of a new body, the Seychelles Investment Bureau (SIB), which will take on the task from a number of other government offices.

Speaking to reporters last week, newly appointed chief executive officer of the SIB, Joseph Nourrice, explained that the bureau will act as a one stop shop for the investment community and will coordinate all promotion activities. “The amount of procedures will be reduced tremendously,” he observed.

Previously, the Investment Desk at the Ministry of Finance had played a large part in the jurisdiction’s promotional activities, and the SIB will also assume the promotional role previously taken on by the Seychelles International Business Authority, which is to concentrate on regulation.

Investors will now be able to consult directly and solely with the SIB to help overcome problems and the intention is to reduce the time for completion of projects.

An immediate priority for the SIB will be the drafting of an investment code for the Seychelles which according to Mr Nourrice “will act as the backbone for our marketing tools”.

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