Seychelles is an archipelago of 115 islands in the Indian Ocean off the east coast of Africa. If you’re looking for a location for your expansion, Seychelles can help you form ties to other African countries.
One of the first steps of your expansion will be setting up a Seychelles payroll. You should consider the different Seychelles payroll options and learn the country’s employment laws to ensure total compliance.
Taxation rules in Seychelles
Both employers and employees have to pay taxes in Seychelles — 2 of the most important funds are the pension fund and social security. Employers and employees each contribute 2% of wages to the pension fund. Employers must contribute 20% of salaries to social security while employees give 2.5% of their own salary.
Seychelles payroll options for companies
Companies have 3 main Seychelles payroll options to choose from:
- Internal: Larger companies ready to operate in Seychelles for a long time can consider running an internal payroll out of their local subsidiary. Just keep in mind that with this option, you’ll need more HR team members and a bigger budget.
- Seychelles payroll processing company: Many companies choose to outsource their payroll to make the process easier. You can work with a Seychelles payroll processing company, but you’ll still be held liable for any compliance issues.
- G-P: The easiest way to run payroll in Seychelles and stay compliant is partnering with an Employer of Record (EOR) like G-P. With us, you can rest assured that all employees will be paid on time, freeing you to focus on other important aspects of your business.
How to set up a payroll in Seychelles
Before you can set up your Seychelles payroll, you have to incorporate in the country if you’re choosing the traditional model of expansion. It may take weeks or even months before you’re ready to set up your payroll and hire employees. G-P can help cut this time down to a few days. As a global EOR, we can help you start working fast without the worry of compliance.
Entitlement/termination terms
Entitlement and termination terms vary by country, and you should outline these terms in your employment contracts before choosing a Seychelles payroll option.
Companies must give employees notice of termination for just cause, but the amount of time depends on the type of worker. Employees should get severance pay depending on the method of termination.
Streamline global payroll management with G-P.
G-P streamlines each step of the payroll management process with our market-leading Global Growth Platform™. Pay your team with confidence anywhere in the world in 150 currencies with our 99% on-time automated payroll system — all with just a few clicks. Our products also integrate with leading HCM solutions, syncing employee payroll data across platforms automatically to create one reliable, convenient source of truth for HR teams.
Contact us to learn more about how we can support you.