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Procedures to incorporate
At present, Vanuatu has not signed any international treaties on Tax Information Exchange Agreements (TIEA) with PRC, HK S.A.R. and Macau S.A.R.
Thus no formal channel on tax information exchange. Government has no intention to enter into such agreement to maintain the high level of tax privacy of the international companies.
Vanuatu is currently on the “White list” of the OECD as Vanuatu has met substantially implemented internationally agreed-upon tax standards. “White list” of the OECD means Vanuatu is not on the “Black list” of world money laundry nations.
Type of company for international trade and investment: Exempt Company incorporated under the Companies Act (Cap 191) or the International Company “IC” incorporated under the International Companies Act 1992 (No. 32). The International Company provides for greater flexibility and minimal compliance.
Restrictions on Trading: An International or Exempt Company may not trade within Vanuatu or own real estate there. An International Company may not undertake the business of banking, insurance, assurance, reinsurance, fund management, the management of collective investment schemes or the rendering of investment advice, or any other activity that would suggest an association with banking or insurance industries.
Language of Legislation and Corporate documents: English. Foreign translations of corporate documents can be obtained for a fee.
Shelf Companies available: Yes.
Suffixes to denote Limited Liability: An Exempt Company must have the word Limited in its name. An International Company may utilise a broad range of internationally accepted abbreviated words as suffixes to denote their limited liability.
+ Authorised and Issued Share Capital
The usual authorised share capital for an Exempt Company is US$ 10,000. Most International Companies do not have an authorised capital as it is not required and the concept does not exist in the Act. Exempt and International Companies may have their capital expressed in any currency.
Domestic taxation is not payable on the net chargeable profits of Exempt and International Companies.
+ Double Taxation AgreementNone.
+ Financial StatementsThere is no requirement for an International Company to file accounts. However, the Commission may, by notice in writing to a company, require that company to provide the Commission with up-to-date audited accounting records and financial statement of the company within the period set out in the notice. Penalty fees of VT 200.000 for an individual and VT 1 million for a body corporate may apply for any offense made under the above provision. As a consequence, we highly recommend maintaining an appropriate accounting system for your company(ies).
+ Classes of Shares Permitted
Registered shares, preference shares, redeemable shares and voting or non-voting shares.
+ Annual Franchise TaxesAn International Company pays US$300 per annum. An Exempt Company pays a minimum sum of US$450 per annum; this amount may increase if a company has a high-authorised capital.
+ DirectorsThe minimum number of directors required for both Exempt and International Companies is one. The directors may be natural persons or bodies corporate, may be of any nationality and need not be resident in Vanuatu. However, Exempt Companies must have at least one resident director.
+ Company Secretary
An Exempt Company must appoint a company secretary. An International Company need not appoint a company secretary, although it is customary to do so to facilitate signing requirements.
The minimum number of shareholders of an International Company is one. An Exempt Company requires two.
Key Corporate Features
- Type of Company – International
- Shelf company availability – Yes
- Our time to establish a new company – 2 days
- Political Stability – Good
- Common or Civil Law – Common
- Disclosure of Beneficial Owner – No
- Migration of Domicile Permitted – Yes
- Corporate Taxation – Nil
- Double Taxation Treaty Access – None
- Language of Name – Latin and other alphabets
+ Corporate requirements
- Minimum Number of Shareholders / Members – One
- Minimum Number of Directors / Managers – One
- Corporate Directors / Managers Permitted – Yes
- Company Secretary required – No
- Usual Authorised Capital – None
+ Local requirements
- Registered Office – Yes
- Registered Agent – Yes
- Company Secretary – No
- Local Directors – No
- Local Meetings – No
- Government Register of Directors / Managers – No
- Government Register of Shareholders / Members – No
+ Annual requirements
- Annual Return – No
- Annual Return Filing Fee – No
- Annual Audit – No
+ Recurring Government costs
- Minimum Annual Tax / Licence Fee – US$300
- Annual Return Filing Fee – N/A
Packages and Prices
The cheapest option company formation, payment government fees, registered office, local registered agent, Client Due Diligence (CDD) full and free tax and legal assistance, and much more, to keep your entity fully compliant.
A special package with all services as included on the Standard Package, plus our Bank Account opening services with an internationally known financial institution, offering you online banking, multi-currency account, debit cards and all other major banking services you may need.
A package with all services as included on the Business Package plus full Nominee Services (Nominee Members and Managers) providing you the highest degree in terms of confidentiality and anonymity.
How can we help you?
Should you have any question, our Business Development Managers team will be ready to guide and assist you!