1. What is the Economic Needs Test ?
The Economic Needs Test (ENT) is a process as enacted in the Third Schedule of the SI 71 Seychelles Investment (Economic Activities), under the Seychelles Investment (Economic Activities) Regulations of the Seychelles Investment Act 2010.
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.
3. The ENT Procedure
Your Project Memorandum and other documents will be submitted to the ENT Committee on your behalf by SIB
You will be required to present the details of your Project Memorandum to the Committee and answer any questions that may arise
The Committee will evaluate the economic activities based on ENT criteria
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%.
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