The deal is part of a programme by Jersey that aims to develop closer economic and taxation co-operation with other countries.
The DTA is significant for both jurisdictions: It will provide investors in Jersey with access to the Seychelles as a principal route into Africa in particular; and for Seychelles it is another boost to the Republic’s business armoury, and its credibility as a key jurisdiction in the offshore market.
The DTA also provides additional comfort to investors, wherever in the world they are based, to continue to invest via Jersey and Seychelles vehicles. In addition, It will (i) assist in tax administration and (ii) establish effective exchange of information, further demonstrating commitment by these offshore jurisdictions to curbing harmful tax practices.
As the only offshore law firm with offices in both Jersey and in the Seychelles, as well as Mauritius, Appleby is uniquely positioned to be able to advise clients in the offshore sector on accessing the emerging African, Indian and Asian markets.
Please do get in touch should you wish to discuss how this may benefit your business.