Registration of Company on Vanuatu

Registration of a company in Vanuatu

Such a characteristic as “Pristine paradise” is associated in the world with a small state of Vanuatu, which is compactly located in the south-western part of the vast Pacific Ocean. The very same name means “this land forever”. We will not talk in riddles and proceed to outline the reasons why the lands of Vanuatu became the epitome of paradise for many people.

The fact that it is not only and not so much the identity of nature and culture of the country that influenced the image of Vanuatu, more need here to talk about a tax haven, in which Vanuatu has become in recent years, rather it is necessary to talk about a tax haven, in which Vanuatu was transformed in recent years.

Small independent republic in the Pacific Ocean confidently acquires the status of a supportive and welcoming haven for entrepreneurs from around the world. As a consequence, more and more business representatives seek to register offshore in Vanuatu. Young and extremely active state in terms of economic development does not cease to increase the pace of registration of offshore companies in its territory.

Port Viola - is concurrently the capital and commercial, financial, industrial, touristic, political, and educational center of the state. The currency of the country is Vatu (VT).

Formation of Vanuatu’s relief is in a constant process. 13 main islands and a lot of smaller formations rise higher and higher above sea level every year.

Ni-Vanuatu (so-called indigenous peoples of the archipelago) constitute 95% of the total population. In general, at least 200 000 of people live in Vanuatu.English and French languages have official status in Vanuatu, despite the fact that there is a local language called Bislama.

South and north of the archipelago have a subtropical and tropical climate respectively. 

There are two main directions in the development of the state economy. The first is the support of the city business sector. The second direction is agriculture. Besides, Vanuatu becomes more and more popular as an offshore zone every year. To this end, the Ministry of Finance is taking a number of measures which are designed to raise the investment rating of the state.

To register a company in Vanuatu means to receive assurances of immutability of the course followed by the government in the economic sphere. You may accede that it is extremely important for every entrepreneur.

Registration of offshore in Vanuatu: legal framework.
The process of registration of the offshore in Vanuatu is governed by the following Laws: “On companies”, “On the international companies”, “On Banks”, as well as by certain legislative provisions (on the  activities of trust and insurance companies, on stamp duty, etc.).

Forms of doing business in Vanuatu

You can register the company in Vanuatu in the following forms:

• International company;
• Foreign company;
• Exempt company;
• Unlimited company;
• Limited Liability Company;
• Offshore Limited Liability Company;
• Registered company with separate portfolios and secured company with separate portfolios;
• Fund;
• A local company (suitable for doing business within the territory jurisdiction).

The most widespread form of of offshore in Vanuatu is an International Company.

Registration of an international company in Vanuatu assumes the following issues:

• Such concept as “charter capital”does not apply.
• Shares or guarantees (or both) may limit the liability of the company.
• The legal address and the agent must be registered within the territory of Vanuatu.
• The constitution of the company (which is the equivalent of the Charter and Memorandum of Association) shall be submitted for registration to the special commission.
• Registration of international company (offshore) in Vanuatu could be completed within a day.
• The company can choose the name in any official language provided that a certified translation of the name into English will be presented.
• In order to have in its name such words (or equivalents) as a bank, finance, insurance, assurance, fund management, investment fund, buildings society, trust, trustees, reinsurance, the company must obtain a license or special approval.
• Issue of shares with a par value and without it, as well as bearer shares and privileged shares is allowed.
• It is enough to have one shareholder and one director for the existence of the company, for whose status there are no requirements.
• The third parties have no access to data about the founders and other representatives of the company.
• There are no requirements for holding annual general meetings and submitting annual reports.
• The shareholders shall decide on the place to hold meetings.
• The company has the ability to manage a bank account, but can not carry on trade or have property in Vanuatu.
• The company is automatically exempted from the control of currency transactions, stamp duty, and any tax. The validity of these conditions is 20 years from the date of registration.
• The company shall pay  an annual government fee, which is $300.

Registration of Exempt Company in Vanuatu is a process carried out in accordance with those provisions:

• Standard charter capital is $10000.
• The legal address and the agent must be registered within the territory of Vanuatu.
• After the signing of the Charter of the company the document shall be transmitted to the registration authorities. Upon completion of the registration process the shares shall be transferred to the shareholders.
• At least one of the directors of the company must be the resident of Vanuatu (it is allowed to have one director). Or Deputy Director can be appointed by the resident.
• The Board of Directors shall hold meetings once a year.
• The annual report should be submitted, but the audit should not necessarily be carried out (with the exception of companies enjoying the insurance, trust and banking licenses).
• The license duty to be paid annually is $450.

Taxes in Vanuatu

Vanuatu offshore does not pay:
- Income tax;
- Corporation tax;
- Tax on the export of capital;
- Inheritance tax;
- Tax on profits from the stock exchange;
- Turnover tax.

With our help, an offshore registration in Vanuatu will be held in the shortest possible time. Successful business in Vanuatu is not the distant future, and the visible reality. If you decide to register offshore company in Vanuatu, do not postpone it for tomorrow!