
The Seychelles, a paradise archipelago in the Indian Ocean, is attracting a growing number of entrepreneurs looking to establish their businesses there. With its idyllic setting and favorable economic environment, this country offers excellent opportunities for companies. However, finding the right commercial space, office, or warehouse to meet your needs can be complex in a rapidly evolving real estate market. Here is a comprehensive guide to help you find the perfect space for your business in the Seychelles.
The Quest for the Perfect Space: Winning Strategies
To find the ideal space in the Seychelles, several options are available to you. The first step is to clearly define your needs in terms of space, location, and budget. Once these criteria are established, you can begin your search.
One of the most effective methods is to enlist the help of local real estate agencies specializing in commercial property. These professionals know the Seychelles market perfectly and can suggest properties that match your expectations. Among the reputable agencies are Seychelles Properties, Savills Seychelles, and Eden Island Development Company.
Another interesting option is to check online listings on specialized websites like LexpressProperty or Seychelles.com. These platforms feature numerous offers for commercial spaces, offices, and warehouses for rent or purchase throughout the archipelago.
Don’t hesitate to leverage your professional network either. Since the Seychelles is a small country, word-of-mouth works very well. Talk about your project with those around you, contact the Seychelles Chamber of Commerce and Industry, or participate in local professional events to increase your chances of finding that rare gem.
Finally, remember to explore developing industrial and commercial areas, such as Providence on Mahé Island. These zones often offer new spaces at competitive prices.
Good to Know:
Given the high demand, it is recommended to start your search several months in advance and remain flexible with your criteria to increase your chances of finding something quickly.
Key Players in Seychelles Commercial Real Estate
Several real estate agencies have specialized in leasing and selling commercial properties in the Seychelles. Here are the main ones to know:
- Seychelles Properties: This local agency offers a wide selection of commercial properties on the main islands of the archipelago.
- Savills Seychelles: A subsidiary of the international Savills group, it provides high-end services for businesses looking to establish themselves in the Seychelles.
- Eden Island Development Company: Specializing in the real estate development of the artificial Eden Island, it offers modern and well-located commercial spaces.
- Arriva Real Estate: This local agency has a diverse portfolio of commercial properties, particularly on Mahé Island.
These agencies typically offer comprehensive services, ranging from property search to lease management and legal assistance. They can help you find the right space for your business, negotiate lease or purchase terms, and guide you through administrative procedures.
It is recommended to contact several agencies to compare offers and services. Don’t hesitate to provide them with a detailed brief of your needs to save time in your search.
Good to Know:
Some agencies offer virtual tours of properties, which can be convenient if you are not yet on-site. Also, consider checking reviews and recommendations from other entrepreneurs before choosing your agency.
Lease Application: Essential Documents
To lease a commercial space in the Seychelles, you will need to prepare a strong application. Landlords and agencies are generally quite demanding regarding the guarantees required. Here are the main documents you will be asked for:
- A copy of your passport or ID card
- A recent proof of address
- Your company’s articles of incorporation (if already established) or a detailed business plan
- Bank references or a solvency certificate
- The last three years of financial statements (for existing companies)
- A professional insurance certificate
- A 3-year projected business plan
If you are a foreign entrepreneur, you will also need to provide a copy of your work permit or investment authorization for the Seychelles. These documents are issued by the Seychelles Investment Board (SIB) and are essential to conduct commercial activities in the country.
It is important to note that landlords may require a bank guarantee or a security deposit equivalent to several months’ rent. The exact amount will depend on the lease duration and the property’s value.
Carefully prepare your application and consider having it reviewed by a local attorney specializing in business law. This will help you avoid delays or rejections due to missing or improperly prepared documents.
Good to Know:
If your documents are in another language, an English translation may be required. Therefore, budget for certified translations if necessary.
Lease Budget: How Much to Allocate for Your Space in the Seychelles?
The cost of leasing a commercial space in the Seychelles varies considerably depending on several factors: location, size of the space, its condition, and included amenities. On average, rental prices for offices or commercial spaces range between 20 and 50 euros per square meter per month.
In the most sought-after areas, such as Victoria (the capital) or popular beach resorts on Mahé, rates can reach 60 to 80 euros per square meter per month for prime locations. Conversely, in industrial zones or less central neighborhoods, it is possible to find spaces starting at 15 euros per square meter per month.
For a standard 50 m² office, you can therefore expect a monthly rent between 1000 and 2500 euros, excluding charges. Additional costs (electricity, water, common area maintenance) typically represent 10 to 15% of the base rent.
It is important to note that commercial leases in the Seychelles are often signed for durations of 3 to 5 years, with annual rent adjustments based on the consumer price index. Also budget for the security deposit, which is usually equivalent to 3 months’ rent.
Don’t forget to include in your budget agency fees (often equivalent to one month’s rent), notary fees for lease registration, and any potential fit-out costs for the space.
Good to Know:
Some landlords offer rent-free periods (1 to 3 months) at the beginning of the lease to allow for setup and fit-out of the space. Don’t hesitate to negotiate this point when signing the lease.
Seychelles Cities Favorable for Business Establishment
Although the Seychelles is a small country, certain cities and regions offer particular advantages for business establishment, especially in terms of costs and infrastructure.
Victoria, the capital located on Mahé Island, remains the economic and administrative center of the country. It offers many advantages: proximity to government institutions, presence of major companies, and developed infrastructure. However, rents there are generally higher than in the rest of the country.
For businesses looking to reduce costs, the Providence industrial zone, a few kilometers from Victoria, is an interesting option. It offers modern spaces at more affordable prices while remaining close to main transport routes.
On Praslin Island, the second largest island in the Seychelles, the town of Baie Sainte Anne offers opportunities for businesses related to tourism or fishing. Rents there are generally lower than on Mahé, while benefiting from an attractive setting for clients and employees.
For startups and small businesses, the artificial Eden Island, near Mahé, offers modern office spaces in a dynamic environment. Although rents are on the higher end, the quality infrastructure and prestigious image of the location can be an asset for certain activities.
Finally, for industrial or logistics companies, the area around Mahé International Airport offers warehouses and spaces at competitive prices, with the advantage of proximity to transport infrastructure.
Good to Know:
Seychelles authorities encourage economic development in the outer islands like La Digue or Silhouette. Tax incentives may be granted to businesses establishing themselves in these less developed areas.
Establishment Assistance: A Welcome Boost
The Seychelles government, aware of the importance of attracting foreign investors, has implemented several support schemes for business establishment. These aids can take various forms and facilitate the search for and leasing of commercial properties.
The Seychelles Investment Board (SIB) is the key organization for businesses wishing to establish themselves in the country. It offers a personalized support service, including assistance in finding suitable spaces. The SIB can connect you with landlords or real estate agencies and help you negotiate favorable terms.
The “SME Scheme” (Small and Medium Enterprises Scheme) offers loans at preferential rates for small and medium-sized businesses, which can be used to finance the lease or purchase of commercial properties. Interest rates are generally below market rates, and repayment terms are flexible.
For businesses establishing themselves in priority sectors (such as information technology, renewable energy, or the blue economy), temporary tax exemptions may be granted. These tax benefits can free up a larger budget for leasing space.
The Seychelles Economic Zone Authority (SEZA) manages several free zones where businesses can benefit from tax and customs advantages. These zones often offer spaces at advantageous rates, with modern infrastructure.
Finally, some municipalities, particularly Victoria, offer urban renewal programs including incentives for businesses setting up in developing neighborhoods. These incentives can take the form of reduced rents or grants for space fit-out.
Good to Know:
To benefit from these aids, it is generally necessary to present a solid business plan and demonstrate the positive impact of your business on the local economy. Don’t hesitate to seek the help of a local consultant to maximize your chances of obtaining this support.
Expert Tips for a Successful Establishment in the Seychelles
To conclude, here are some expert tips to optimize your search for commercial space in the Seychelles:
- Plan Ahead: The Seychelles real estate market can be tight, especially for quality locations. Start your search at least 6 months before your desired move-in date.
- Be Flexible: Remain open to different location options. A slightly off-center location can offer better value for money while still being accessible.
- Negotiate: Don’t hesitate to negotiate lease terms, especially the duration, rent amount, or fit-out works. Landlords may be open to discussion, particularly for long-term leases.
- Get Professional Help: Engaging a local attorney specializing in real estate law can save you from many inconveniences, especially for lease verification and necessary permits.
- Think Long-Term: Ensure that the chosen space can accommodate your company’s growth. Some leases offer extension or relocation options within the same complex.
Finally, remember that your choice of location will have a significant impact on the success of your business in the Seychelles. Take the time to thoroughly evaluate all options and project into the future before making your decision.
Good to Know:
The Seychelles has recently introduced incentives for businesses adopting eco-friendly practices. Opting for a “green” space or planning sustainable fit-outs could qualify you for additional tax benefits.
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