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The Economic Needs Test (ENT)
1
What is the Economic Needs Test?
The ENT process evaluates and determines whether the proposed economic activities are able to fill a gap in a particular sector, by allowing foreign investments.
2
The ENT Committee
The ENT process is administered by the ENT Committee.
The ENT Committee does not approve economic activities, but rather evaluates and makes recommendations on their suitability to the local economy, as well as the merits of being undertaken by a foreigner. These are based on the ENT criteria.
It is to be noted that while the ENT Committee assesses the merits of an economic activity, the investor will be required to follow the appropriate licensing and certification processes.
The Seychelles Investment Board (SIB) acts as the Secretariat to the ENT Committee, to process applications, compile statistics, keep records and convey the decisions of the Committee to the foreign investor.
The ENT Committee does not approve economic activities, but rather evaluates and makes recommendations on their suitability to the local economy, as well as the merits of being undertaken by a foreigner. These are based on the ENT criteria.
It is to be noted that while the ENT Committee assesses the merits of an economic activity, the investor will be required to follow the appropriate licensing and certification processes.
The Seychelles Investment Board (SIB) acts as the Secretariat to the ENT Committee, to process applications, compile statistics, keep records and convey the decisions of the Committee to the foreign investor.
3 The ENT Procedure
1 Project Submission
Your Project Memorandum and other documents will be submitted to the ENT Committee on your behalf by SIB
2 Presentation and Q&A
You will be required to present the details of your Project Memorandum to the Committee and answer any questions that may arise
3 Evaluation of Project
The Committee will evaluate the economic activities based on ENT criteria
4 Project Outcome
You will be informed of the Committees’ decision on the outcome of your project by SIB
4
The ENT Criteria
Your Project Memorandum will be evaluated based on the following criteria and scored. The pass mark is 75%.
Provision of New Products or Services
Innovativeness of the Products or Services
Economic and Environmental Sustainability
Introduction of Cutting-Edge Technology
Employment Opportunities for locals
