Buy a company in Vanuatu in 2020 and open a local bank account

Buying a company in Vanuatu is beneficial as you can optimize your tax burden. There are many entrepreneurs looking to open an offshore in Vanuatu.

Recently, the country has been becoming more relevant as an offshore zone. Registration of a firm in this jurisdiction guarantees that the course taken by the government in the economic sphere will remain the same. To learn more about the features of opening a firm in Vanuatu, please contact our experts at IT-OFFSHORE.

The benefits of establishing a company in Vanuatu

There are several advantages to registering a company in Vanuatu. One of them is the availability of a company. It takes several weeks to start a new company.

Personal information is protected. Privacy is guaranteed and the name of the company and contact information is publicly available. Information about directors and shareholders is protected by law.

One of the reasons why jurisdiction is popular for opening offshore is the low tax rate. There is no need to pay a rate on income received outside the country. Non-residents are given various benefits if they work in relevant areas.

There is no currency control. Companies that have recently registered in the country may receive a stamp duty exemption. One of the advantages is that the data provided in the financial report for the year is confidential.

How to register a firm

To register a company in the territory of the country, you must have a legal address, and an agent. The company must have a Constitution that is filed for registration with the relevant authorities.

The company may choose a name in any language if a certified translation of the name into English is provided. Special authorization is required for the use of certain words, such as indicating financial activities, for example.

At least one shareholder and director are required for the company to operate and there are no conditions regarding their status. There is also no requirement to hold annual general meetings. The company may open and manage an account in Vanuatu but may not trade or own real estate in Vanuatu.

There are significant tax exemptions for offshore insurance organizations and banks in Vanuatu. An offshore organization does not pay income tax, corporation tax, capital export, inheritance tax, turnover tax or exchange profit.

You can buy a ready-made company to start doing business immediately. For more information on how to quickly register a ready-made company, please contact our experts at IT-OFFSHORE.

Features of opening an account

There are some of the most famous banks where you can open an account in a profitable way. These include the National Bank of Vanuatu. It is the only public bank that has branches outside the capital.

Bank ANZ Limited is a subsidiary of ANZ Banking Group.  It provides services for private and corporate clients. One of the well-known international banks operating in Vanuatu is Pacific Private Bank Limited. The organization offers a full range of services, working mainly with wealthy clients.