Chess develops memory. Chess players recognise and remember patterns which develops memory.
Chess improves concentration. During the game you are focused on only one main goal- to checkmate and become the victor. A game of Chess can easily be lost through a moments lack of concentration.
Chess develops logical thinking. Chess requires some understanding of logical strategy.
Chess develops imagination and creativity. It encourages you to be inventive.
Chess teaches independence. You are forced to make important decisions influenced only by your own judgment.