Vanuatu is an island country located in the South Pacific Ocean. It is known as a tax haven for banks and international businesses. The International Companies Act exempts all international businesses from paying income taxes and offers greater privacy to shareholders because they do not require public disclosure. As a result, Vanuatu is becoming a more and more popular location to expand or set up a new business.
Moving to Vanuatu
If you want to move to Vanuatu, there are four categories of residency. You can apply as a foreign investor, a landowner, an employee, or a self-funded investor. If you plan to move there as an employee, you will need a work permit. Professionals who offer business and consulting services can help to make this process a lot simpler for you.
In addition, Vanuatu offers dual citizenship to those who are eligible. This country offers a program of citizenship by investment and there are many benefits to it, in particular its very low tax rate and its location in a tropical paradise in the South Pacific. Vanuatu is working to attract businesses and new residents and their fast-track immigration plan allows the process to be quick and easy. Contact a firm that has experience facilitating citizenship and you could have dual residency in very little time.
Setting up a Business in Vanuatu
Vanuatu offers significant advantages to companies that wish to incorporate there. An International Company (IC) is allowed to conduct business anywhere except Vanuatu. However, there are no corporate taxes, no estate taxes, and no required public disclosure. As a result, this country is becoming a haven for offshore companies. The process of company formations in Vanuatu is simple and professionals who provide this service can have it done for you in as little as 48 hours. They can also provide accounting services, business management, business valuation, and many other services.
Local companies are allowed to conduct business within and outside of Vanuatu. It is necessary to have one shareholder (who does not need to be a resident), a secretary, and a resident director. If you want to do business within Vanuatu, you will need to set up a local company. Professional business advisors can streamline this process for you.
Investing in Vanuatu
The Vanuatu Investment Promotion Authority (VIPA) was established to promote foreign investment and create greater economic success for the people of Vanuatu. The Foreign Investment Act was created to streamline the investment approval process so that potential foreign investors can get all of their approvals from one central agency. Business advisors in Vanuatu have years of experience and close working relationships with the government and these agencies. They can guide you through the process.