Doing Business in Vanuatu: What You Should Know

Wouldn’t it be nice to base your company in a place that is beautiful and tropical? Would you like to have certain tax advantages? If so, you should consider forming your company in Vanuatu – a country located in the south Pacific.

A Busy Metropolis

While Port Vila, a city in Vanuatu, is a busy metropolis, you also can enjoy the wilderness of outlying areas. When you combine both these contrasts, you can truly enjoy your work life and base of business activities. Even Port Vila is amazingly lovely. That is why it is considered the tourist centre of the country. Port Vila receives a large number of cruise ships – ships that promise both visitors and commerce.

While you have to go through certain steps to form a company, it will be well worth your effort. That is because living in Vanuatu is much more affordable than living in New Zealand and Australia. Plus, many real estate professionals are expats. Therefore, they are willing to help newcomers get established.

Becoming Vanuatu-based

If you want to learn more about company formations in Vanuatu, make sure that your business is one that the government needs. That way, both of you will be on the same page. You also want to make sure that you turn to an accountancy firm that provides full services. Therefore, you need to find one go-to source for your accounting and audit work, corporate assistance, licencing and permits, and strata title services.

When you begin working as a business in the country, you will need to learn more about incorporation. By choosing the right accountancy firm, you can find out more about international company incorporation, local company incorporation, business valuations, and trust formations.

Incorporating Your International Business

Maybe you want to incorporate your business as an international company. If so, you may want to register your company in Vanuatu, but you do not want to do business in this locale. ICs cannot do business inside the country. This process is fairly easy to do and usually can be completed within a short time frame, or 48 hours.

Doing Business Locally

If you want to make yourself one of the local businesses, you can do business within and outside of Vanuatu. Like IC’s, local incorporations usually take about 48 hours to complete. Once your application is inserted with the Vanuatu Financial Services Commission, you will only have to wait about two days.

To become a local company, you only need to designate one shareholder, who can be a resident of the company or reside elsewhere. One person should also serve as director. Declarations of Trust are also drafted to connect a company’s beneficial owners. Trusts can be established as well that act as a beneficial owner.

Establishing a Trust

Trusts are confidential formations that support a company’s framework. Normally, a trust is used to hold company shares in a company’s business names. You may also use an accountancy firm in Vanuatu to provide valuation services. It just depends on the reason for the valuation.

Immigration and Citizenship

When you contact a full-service accountancy firm, also ask about immigration and citizenship, especially if you plan to move and live in Vanuatu. The more you know about the country’s rules for businesses, the sooner you can get acclimated to doing business or working and living in this tropical island locale.