Company Registration in Vanuatu
Vanuatu is a small island nation located in the southwestern Pacific Ocean. The definition of "untouched paradise", which is increasingly used in relation to the country, is associated not only with exotic nature, but primarily with favorable conditions for business development.
The capital of Vanuatu is the port of Viola, which is the largest trading and financial center. The population is less than 200,000 people, the official languages, except local, are English and French. The main directions of economic development are agriculture, tourism, and the urban sector.
Since 1971, Vanuatu has been a popular offshore zone operating in the framework of preferential taxation and constantly increasing the volume of attracting foreign investment. The popularity of Vanuatu for doing business is due to a stable political and economic course, strict confidentiality and substantial tax benefits.
Here are not charged:
- income tax;
- tax on the export of capital;
- sales tax;
- inheritance tax;
- corporation tax;
- tax on profits from conducting exchange activities.
In addition, there is no double taxation and exchange controls.
Types of companies that can be registered in Vanuatu:
- international company
- foreign company
- exempt company
- unlimited company
- limited liability company.
The most popular type of offshore company is the International Company. Company registration has the following features:
- there is no concept of "authorized capital".
- the constituent document is the Constitution of the company (replaces the Charter). It contains the name of the company, legal address, goals and objectives of the activity, information about the intermediary; Director information is optional.
- the company must have a registered office in the country and use the services of a local agent-intermediary for registration.
Company registration is carried out within a day (in exceptional cases, the registration period is reduced to one hour.)
- For the name of the company can be chosen any language, subject to a certified translation into English or French.
- It is enough to have one director and one shareholder.
- There are no requirements for holding annual meetings and providing financial statements.
- Accounting records may be kept outside Vanuatu.
- The company makes the decision on the availability of printing.
- The company can open bank accounts and manage them.
The company is exempt from taxes for a period of 20 years. The amount of the annual government fee (one of the lowest in the world) is $ 300. The amount of the initial registration fee is $ 150.
Restrictions to the name of the company: the presence in the title of such words as bank, finance, fund insurance requires a license. Banking and financial institutions, as well as insurance companies and trusts cannot be registered as International Companies.
The Republic has a law on relocation: a legal entity can be entered in the register of enterprises of Vanuatu on the basis of a statement (if such a measure is acceptable in the country of initial registration). The term of the permit is 3 years with the condition of renewal. The procedure itself takes several hours, and the company acquires the status of an offshore enterprise.
Vanuatu is not among the countries that have signed tax information sharing agreements, which guarantees a high level of confidentiality.