Main Characteristics and the basic rules of Company registration in New Zealand
Sometimes, the best way to expand your business’s customer base is expanding operations into a new country. Choosing the suitable destination may seem tedious though. You may not always go for large and very popular countries. Contrary to what you may think, selecting smaller and relatively lesser known countries can actually be viable in this context. The republic of Vanuatu is ideal and it can be your choice. Situated in South Pacific Ocean –it is an island country. After being ruled by the Spanish and Portuguese for some centuries, the island became a republic in 1980. You should try our Vanuatu Company Formation service.
When you plan to take your venture to overseas locations, analyzing economic scene and banking system is necessary. The banking system in the country is ideal for doing businesses. It has quite a number of international and a few domestic banks.
Analysis of the prevalent taxation setup is necessary when you eye a country for business setup or expansion. The good thing about Vanuatu is that it does not have income tax, withholding tax and capital gain tax. Any company hailing from another country and having global operations gets exemption from paying taxes for 2 decades.
The majority of inhabitants in the island speak English and this is ideal for setting up business. The norms for setting up ventures in the country are relaxed and you will not have to spend a lot of time for wrapping the documentation and all formalities. The FSC approval is required for obtaining a business license in the country. There are just 2 legislation acts in place to manage all types of international businesses. These are all quite helpful for starting business in the country but you will benefit a lot by seeking our Vanuatu Company Formation service.
As a matter of fact, you can gain by setting up many types of businesses in Vanuatu. The foreign companies already operating here mostly deal with niches like financial services, tourism, agriculture etc. However, companies belonging to other sectors can also prosper here. Companies dealing with IT and media have chances of tasting success here. Several Reality TV shows have been shot here- as it is.
The fact that Vanuatu is a tax haven may encourage you to take operations there. However, consultation of an expert agency may quicken things and reduce delay. Contact the BRIS group for such needs. Our Vanuatu Company Formation service will come in handy.
|Vanuatu Company Formation||Financial Advantages|
|Double Taxation Treaty Access:||Treaty Access (some countries)|
|Vanuatu Tax Information Exchange Agreements:||Yes, Vanuatu signs Exchange Agreements with Australia, Denmark, the Faroe Islands, Finland, France, Greenland, Grenada, Iceland, Ireland, Korea (Republic of), New Zealand, Norway, San Marino, Sweden.|
|Account Filing Requirements:||No accounting / reporting requirements|
|Annual Return Filing Requirements:||No annual return/ reporting requirements|
|Audit Requirements:||No audit required.|
|Vanuatu Company Formation||Registration Requirements|
|Share Capital:||Standard authorised share capital US$10,000.|
|Classes of Share Available for Vanuatu company formation:||Shares with or without voting rights, redeemable shares, registered shares, preference shares, shares of no par value|
|Bearer Shares:||Not Allowed|
|Registered Office Required:||Yes required and must be maintained in Vanuatu|
|Shareholders:||Minimum number is one|
|Directors:||Minimum number is one. Can be any nationality and need not be resident in Vanuatu. Corporate directors are allowed.|
|Your Company language:||English|
|Name of your Company must be ended:||Limited, Ltd, Corporation, Corp, Incorporated, Inc, Pty Ltd, Sendirian Berhad, Sdn Bhd, Societe a Responsabilite Limitee, SARL, Besloten Vennootschap, B.V., or Gesellschaft mit beschrankter Haftung, GmbH;|
|Documents required for Vanuatu company formation:||A certified copy of your passport or ID and proof of your residential address dated less than 3 months.|
|Vanuatu Company Formation||Restrictions|
|For Vanuatu company formation you cannot use words in your company names without justification:||“Bank”, “Trustee Company”, “Assurance”, “Building Society”, ”Trust Company”, “Royal” etc.|
|Restrictions on Trading:||Not permitted to trade within Vanuatu|
|Not permitted without a licence:||Fund management, insurance, Banking, reinsurance, assurance, trust management, collective investment schemes, trusteeship business provision.|
|Vanuatu Company Formation||Confidentiality and Security|
|Publicly Accessible Records:||No public register of company officers (Directors, Shareholders, Secretary)|
|Nominee Shareholders and Nominee Directors:||Yes, Allowed|
|Disclosure of Beneficial Ownership to Authorities:||No|
|Meetings of Directors and Shareholders to be held:||Anywhere|
|Stability:||Stable jurisdiction and exceptionally good reputation.|
|Capital city:||Port Vila|
|Region:||A South Pacific Ocean nation made up of roughly 80 islands that stretch 1,300 kilometres|
|Governing corporate legislation:||The Companies Act (Cap 191), The International Companies Act 1992 (No. 32)|
|Type of Law:||Common|
|Currency:||Vanuatu vatu (VUV)|
|Language of Legislation and Corporate Documents:||English|
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.