Vanuatu can safely be called one of the recently emerged offshore destinations that is rapidly gaining popularity thanks to the purposeful efforts of the government aimed at developing and improving the local economy. Offshore Pro Group would like to offer you the option of acquiring an offshore company in the Pacific offshore which will allow your business to enjoy not only tax remissions in the international arena but also a flexible legal system based on the classical understanding of the offshore business.
The small island nation of Vanuatu has about 13 main islands and a significant number of smaller formations that are not gradually sinking, unlike the Seychelles, but on the contrary, are growing rapidly upwards.
Just like the islands, the country’s economy is growing. More precisely, the Government of Vanuatu that is in charge of about 200 thousand locals (95% of whom are natives of Ni Vanuatu) is very proactive in developing the offshore financial sector. In Vanuatu, you can register not just an offshore company but also benefit from more sophisticated financial products such as a Vanuatu banking license or a securities dealers’ license.
The unspoiled nature of Vanuatu is its main asset, but it is not enough for the successful development of the country. Vanuatu’s pristine nature is a great commodity for tourists, but the main sectors of economy are agriculture and business. The business sector includes not only manufacturing and trading companies, but also Vanuatu banks.
The capital of the country is the city of Port Vila. This city combines all the possible functions. It is not only a commercial, financial, industrial, but also the tourist, political and educational center of the country. When a country is so small, the capital has to carry everything necessary for the smooth performance of the country’s economy.
The state currency is the Vatu (VT). The state language is English and French, and there is also an indigenous language, Bislama.
The main privilege for foreign business persons and investors is the Vanuatu tax system. The country rapidly demonstrates the development of offshore features that attract international business persons.
The fact is that unlike midshore destinations in Europe or Asia, Vanuatu is too deprived of natural resources or any exclusive features that would allow the country to abandon its offshore sector. As with most offshore jurisdictions, providing a well-operating range of offshore services is key to the country’s well-being and development. And this is especially important in the era of global deoffshorization when more powerful countries put pressure on the offshore jurisdictions to get their legislation tightened.
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Offshore Company Formation in Vanuatu
Offshore company formation in Vanuatu is governed by local legislation, namely the Companies Act, the International Companies Act, the Banks Act and certain provisions of the Trust Companies Act, the Insurance Companies Act and the Stamp Duty Act.
The main benefit that offshore companies can enjoy in Vanuatu is tax exemption for 20 years. Offshore companies in Vanuatu are exempt from corporate tax, income tax, capital transfer tax, inheritance tax, stock exchange gain tax and turnover tax.
Vanuatu offers the possibility of establishing the following forms of companies:
- International Company which is the most common form of companies for offshore operations
- International Company;
- Exempted company;
- Limited Liability Company;
- Unlimited Liability Company;
- Offshore Limited Liability Company;
- Registered Segregated Portfolio Company and Protected Segregated Portfolio Company;
- Local Company.
International Company in Vanuatu
Here are the main characteristics of an International Limited Company in Vanuatu:
Characteristics of an International Limited Company
Shares Applicable, and may limit the company’s liability Type of shares With or without par value, as well as bearer shares and preferred shares Authorized capital No minimum requirement, it is registered as 1,000 USD by default Abbreviation Ltd. Shareholder A single one, of any nationality, can be either a natural person or a legal entity Director A single one, of any nationality, can be either a natural person or a legal entity Professional directors Unavailable Local registered agent and address Yes Memorandum and Articles of Association This is the company constitution that is submitted for registration to a special commission Company registration term No more than 7 business days Company name In any language, provided a certified English translation of the company name is presented
Names with the use of bank, finance, insurance, assurance, fund management, investment fund, buildings society, trust, trustees, reinsurance require an appropriate license or special approval
Accounts No Data security Third parties have no access to data of the founders and other company representatives Annual shareholders’ meetings No. It is up to the shareholders to determine where to hold meetings Limitations The company cannot trade or own property in Vanuatu Annual state fee 300 USD
Cost of Setting Up an Offshore Company in Vanuatu
Cost of Setting Up an Offshore Company
Service USD Company incorporation 2,300 Annual registered agent services and registered office 2,000 Total cost 4,300 Second-year of company maintenance Company renewal, state fee International Company 300;
Exempted company 450;
Annual registered agent services and registered office 3,000
Step-by-Step Procedure for Setting Up an Offshore Company in Vanuatu Remotely
- Please email us at firstname.lastname@example.org and inform us of your intention to form an offshore company in Vanuatu. We will provide you with free detailed advice and individual recommendations for your situation.
- We will ask you to pay for Offshore Pro Group’s service of the remote formation of an offshore company. We accept payments in different ways i.e. by bank transfer, via PayPal, WebMoney, Bitcoin, Western Union and others. The amount is 4300 USD.
- We will start collecting the necessary documents upon receiving your payment.
In order to register a company in Vanuatu, natural persons (beneficial owner, director and shareholder) will be required to present:
- A high quality copy of travel passport.
- Original proof of residence (utility bill, Internet bill etc.).
Note: Please be reminded that the proof must be no older than 90 days when you send the documents in.
- The desired name for an offshore company in Vanuatu.
Legal entities can incorporate a company in Vanuatu provided they present copies of incorporation documents (Certificate of Incorporation, Certificate of Incumbency or registers to make it clear who the directors and shareholders are) and, respectively, copies of personal documents of directors, shareholders, ultimate beneficial owners.
- We will send the original Vanuatu offshore company documents to wherever you want us to send them by courier service. We can also hand them to you in person if you visit Vanuatu.
Company registration term is no more than 7 business days. Please feel free to write to the address above to start the company formation.