Fisheries Development Fund

Special Scheme for Artisanal Fishing (Checklist)

The special loan scheme aims to assist Artisanal fishing boat owners with funding to purchase, repair or replace fishing equipment or undertake minor vessel repair. To be eligible for the scheme the applicant’s vessel must fall under the Artisanal fishery.

Kindly make sure that the following documents are in order;

Forms

FDF special scheme for artisanal fishing loan application form

Credit Information System (CIS) form

Politically Exposed Person (PEP) form

Specimen signature card


Know your Customer (KYC)

 Valid ID Card/Passport

Proof of address that does not exceed a period of at least three months (Utility bill, Telephone bill, Bank statements or letter from District Administrator)

Passport size photo (X2)

Self-employed individuals/partnership

Valid Seychelles Fishing Authority Boat owner registration card

Company

Certificate of incorporation

Certificate of official search of the company

Registered office of the Company

Details of authorised signatories

Board of resolution with regards to the business affair with DBS (if available)

Valid business license

Beneficial owner declaration

Supplementary Documents

A valid signed proforma invoice or quotation from the supplier that does not exceed a period of at least three months (payments are made directly to the supplier only)

Tax identification certificate

Security documents (assets to be pledged as collateral for the loan)

Loan Concession

A concessional loan of up to SCR3,000,000 for Seychellois investment in longline ventures and value addition.

Ownership – Minimum of 51% Seychellois beneficiary ownership

Interest – 3%

Repayment – Maximum 10 year

Personal Contribution – 5% of the total project cost

Grace Period – 12 months following the last disbursement

Application Fee – 1% of the loan amount and not exceeding SCR5,000

Guarantee/Security for the loan – As per normal DBS requirements

Project proposal must first be submitted to the Seychelles Fishing Authority (SFA) for appraisal and approval.

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