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Understand the Jurisdictions Setup Requirement Before Proceed Your Register Company in Vanuatu
As an entrepreneur, you dream of not having to pay tax. Well, there is place on planet Earth that can accommodate that request. The place is called Vanuatu. Google it up, and you are presented with countless islands with well cared natural beauty. But you may think this place is full of tourist and only tourism industry survives. Think again. Get yourself settled and register a company in Vanuatu to achieve business success even in your floral shirt and khakis.
The Premier Spot
Vanuatu is always flocked by tourist and scuba divers. It is home to fascinating coral reefs and diving spots. Its climate suits many people around the globe. Vanuatu gets plenty of suns minus the extreme heat and humidity. A rainy season or two is standard in this subtropical country. It is commonly called the premier vacation spot. But for the business-minded, Vanuatu is becoming a popular premier fiscal spot.
Business Benefits When Register Your Company in Vanuatu
The moment you fly across the islands archipelago, you feel you are destined to be in Vanuatu. If you are an entrepreneur looking to expand your horizons but taking it easy, one of these islands will gladly have you. The laidback approach to schedules are most probably a shock at first, but it rubs on easily. The tax regime in Vanuatu is genuinely one-of-a-kind. It has no income tax, no corporate tax, no withholding tax, nor death duties or exchange control. Its financial centre has operated for more than 45 years. Although culturally rooted in traditions, it has a well-established infrastructure of professional services to offer potential investors high-quality services.
The Process to Register A Company in Vanuatu
If you have decided and probably finalised your business plan, it is time to register a company in Vanuatu. Your company registration process should ideally begin with the type of company you want to register. Companies in Vanuatu can register as a Sole Trader, Partnership, Trust or Company (it can be either local or overseas company registering in Vanuatu).
The following are general steps to registering a company in Vanuatu:
- Check business name availability with Vanuatu Financial Services Commission (VFSC). To reserve a business name, you would need to pay VT 2,000.
- Acquire Foreign Investment Approval from the Vanuatu Investment Promotion Authority.
- Apply for a permit to form a company with or without limited liability with VFSC. There are several more steps to this as it depends on whether the company is local or overseas.
- Register the business name with VFSC.
- Apply for a business license at the Rates & Taxes Office, Department of Customs and Inland Revenue
- Register with the VAT office if you anticipate a turnover of VUV 4 million a year.
- Register with the Vanuatu National Provident Fund (VNPF)
All private companies registered in Vanuatu automatically become a member of the Vanuatu Chamber of Commerce and Industry (VCCI). Newly registered companies can access VCCI Business Training so that locals hired for the company is competent.
Professional Assistance Available
You should get in touch with us to successfully navigate all legal requirements and ensure your new business is compliant. We are also ready to see that you and your business take off without much-needed stress.