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Vanuatu Company Formation

Updated:2017-11-14 17:20:32    Source:www.tannet-group.comViews:135

Vanuatu company formation is also called Vanuatu business setup, Vanuatu company registration and Vanuatu corporate formation, etc. Vanuatu is a Pacific island nation located in the South Pacific Ocean. The archipelago, which is of volcanic origin, is some 1,750 kilometres, east of northern Australia, 540 kilometres northeast of New Caledonia, east of New Guinea, southeast of the Solomon Islands, and west of Fiji.Vanuatu was first inhabited by Melanesian people. 

Vanuatu is an independent republic with three official languages: Bislama, English and French. Part of the chain of Melanesian islands lying to the north-east of Australia, its capital, Port Vila, is only three and a half hours flying time from Sydney.

Incorporate a Vanuatu company
To carry on business in Vanuatu as a company, you will need to incorporate a local company as a Vanuatu offshore company is not permitted to carry on business in Vanuatu, only outside of Vanuatu - "offshore".A Vanuatu Local company must have as a minimum, 1 Resident Director, 2 Shareholders and 1 Secretary.

The company must have an authorized capital which can be denominated in any currency. For simplicity, this is usually denominated in the local currency, the Vatu as most local companies are incorporated to trade locally.

A Local company can also be used for property holdings. This has many advantages. One is that when selling the property, you may just sell the company with the asset, by transferring the shares of the company. This will minimize the time in finalizing ownership bypassing the requirement to obtain consent from the customary land owner, registering the Lease in the new owner’s name etc, though Stamp Duty still applies on change of ownership but at a reduced rate.

The advantage as such holdings companies is that they are exempted to apply for business licenses and VIPA approval for the owners when local companies are used for such purposes.

A Vanuatu local company may have a Vanuatu offshore company as it's shareholder. This will allow you additional confidentiality.

As is the case with an international or offshore company, no tax is levied on a local company’s income. The only tax is VAT. A local company is required to register for VAT, if the company’s turnover is VT4, 000,000 or more per annum. VAT is 12.5% on sales. VAT can also be claimed back from business expenses.

The company is also required to file audited accounts if the turnover s VT25, 000,000 or more. Currently amendment to the law is in progress to increase this to VT50, 000,000 to minimize compliance cost for smaller businesses.

Contact Us
If you have further enquire, please do not hesitate to contact Tannet at anytime, anywhere by simply visiting Tannet’s web www.tannet-group.net, or calling Hong Kong hotline at 852-27826888 or China hotline at 86-755-82143512, or emailing to tannet-solution@hotmail.com. You are also welcome to visit our office situated in 16/F, Taiyangdao Bldg 2020, Dongmen Rd South, Luohu, Shenzhen, China. 

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