“Untouched paradise” – such a characteristic is associated in the world with the small state of Vanuatu, which is compactly located in the southwestern part of the vast Pacific Ocean. The very same name in translation means “this land forever”. Let’s not talk in riddles and move on to the reasons that the lands of Vanuatu for many have become the personification of paradise.
The fact is that not only and not so much the originality of the culture and nature of the country influenced such an image of Vanuatu, but rather here we need to talk about a tax haven, which Vanuatu has become in recent years.
A small independent Pacific republic is confidently acquiring the status of a favorable and welcoming haven for entrepreneurs from around the world. As a result, more and more business representatives are seeking to register an offshore company in Vanuatu. A young and remarkably active state in terms of economic development does not cease to increase the rate of registration of offshore companies on its territory.
Port Viola is also the capital, commercial, financial, industrial, as well as tourist, political and educational center of the state. The country’s currency is Vatu (VT).
The formation of the relief of Vanuatu is in a constant process. 13 main islands and many smaller structures rise higher and higher above sea level every year.
Ni-Vanuatu (the so-called indigenous population of the archipelago) makes up 95% of the total population. Overall, less than 200,000 people live in Vanuatu. English and French have official status in Vanuatu, even though there is also a local language – Bislama. The south and north of the archipelago, respectively, have a subtropical and tropical climate.
The country’s economy is developing in two main directions. The first is to support the city’s business sector. The second area is agriculture. At the same time, Vanuatu is becoming more and more popular every year as an offshore zone. To this end, the Ministry of Finance is taking several measures that are designed to raise the investment rating of the state.
Registering a company in Vanuatu means getting guarantees of the invariability of the course taken by the government in the field of economy. And this, you see, is extremely important for any entrepreneur.
Registration of offshore companies in Vanuatu: legislative basis.
The process of registering an offshore company in Vanuatu is regulated by the laws “On Companies”, “On International Companies”, “On Banks”, as well as some legal provisions (on the activities of the trust, insurance companies, on stamp duty).
Forms of doing business in Vanuatu
You can register a company in Vanuatu in the following types:
- International company;
- Foreign company;
- Exempt company;
- Unlimited liability company;
- Limited Liability Company;
- Offshore limited liability company;
- Registered company with split portfolios and protected company with split portfolios;
- A local company (suitable for doing business within the jurisdiction).
The most common form of offshore in Vanuatu is the International Company.
Registration of an international company in Vanuatu involves the following points:
- Such a concept as “authorized capital” is not applied.
- Promotions or warranties (or both) may limit the company’s liability.
- A legal address and an agent must be registered in Vanuatu.
- The constitution of the company (equivalent to the Articles of Association and Memorandum of Association) is submitted for registration to a special commission.
- Registration of an international company (offshore) in Vanuatu can be completed within 24 hours.
- The company may choose a name in any official language, provided that a certified English translation of the name is provided.
- To have in its title such words (or equivalents) as a bank, finance, insurance, assurance, fund management, investment fund, buildings society, trust, trustees, reinsurance, a company must obtain a license or special approval.
- Allowed to issue shares with and without par value, as well as the bearer and preferred shares.
- For the existence of a company, one shareholder and a director are enough, and there are no requirements for their status.
- Third parties do not have access to data about the founders and other representatives of the company.
- There is no requirement to hold annual general meetings and submit annual reports.
- Where to hold meetings is determined by the shareholders themselves.
- The company can manage a bank account but cannot trade or own property in Vanuatu.
- The company is automatically exempted from the control of foreign exchange transactions, stamp duty, and any taxes. These conditions are valid for 20 years from the date of registration.
- The company pays an annual government fee of $ 300.
Offshore Vanuatu does not pay:
– income tax;
– corporation tax;
– a tax on the export of capital;
– inheritance tax;
– income tax from the exchange;
– value-added tax.
With our help, the registration of an offshore company in Vanuatu will take place in the shortest possible time. A successful business in Vanuatu is not a distant future but a visible reality.