Vanuatu company formation services
Advantages to incorporate
“125. (1) Any person, except when required by a court of competent jurisdiction, with respect to any company otherwise than for the purposes of the administration of this Act or for the carrying on of the business of the company, in Vanuatu or else-where, divulge, attempts, offers or threatens to divulges or induces or attempts to induce other persons to divulge any information cornering or respecting: (a) The shareholding in or beneficial ownership of any share or shares in a company; (b) The management of such company; or (c) Any of the business, financial or other affairs or transactions of the company ; shall be guilty of an offence.
(2) Any person who contravenes the provisions of sub section (1) shall, on conviction, be liable to a fine not exceeding US$ 100,000 or to imprisonment for a term not exceeding 5 years or to both such fine and imprisonment.”
Vanuatu, a Republic, was formerly known as the Anglo-French Condominium of the New Hebrides. The New Hebrides was the world’s only condominium and was established in 1906 by agreement between the British and the French (The London Convention of 20th October 1906), which declared the New Hebrides “a region of joint interest”. After years of competition and rivalry for influence between nationals of the two powers, and others such as Australian and Irish adventurers, Vanuatu, which means “our land” in many Melanesian languages, obtained its independence on 30 July 1980, a constitution was adopted and the Republic of Vanuatu came in to effect.
Vanuatu is a parliamentary democracy, the head of state being the President elected by an electoral college. The position is mainly titular and has very few executive powers. The legislature consists of a single chamber, a 52-member parliament, for which general elections are held every four years.
Infrastructure and Economy
There are two international airports in Vanuatu. There are regular flights to Australia, New Zealand and neighbouring islands. The country has a dualistic economy with a large smallholder subsistence agricultural sector and a small monetised sector. The latter is based on established plantations, ranches and associated trading, manufacturing, banking and shipping services as well as the country’s tourist industry. Copra is the most important cash economic activity in the rural sector followed by beef, cocoa, timber, coffee and fish.
The development of the offshore financial centre in 1971 added new dimensions to the economy and it now contributes considerably to Government revenue through the payment of annual registration fees for all companies, business licence fees, insurance, banking and trust company licence fees, stamp duties and other smaller fees. The offshore financial centre has also brought to the country increased employment opportunities, and an excellent infrastructure of telecommunications, banking, legal, accounting and other financial and commercial services.
The official languages are English, French and Bislama (pidgin). (The language of the finance centre is predominantly English).
The Vatu. (Vt).
There are no exchange controls in Vanuatu. All major currencies can be deposited in Vanuatu and may be repatriated in the same currency or converted freely to most other currencies.
Type of Law
Vanuatu is a Common Law jurisdiction. Its Constitution states that, until otherwise provided by Parliament, pre-independence British laws shall continue to the extent that they are not expressly revoked or are incompatible with the independent status of the Republic.
Principal corporate legislation
The Companies Act (Cap 191), the International Companies Act (1993) and the Banking, Insurance, Stamp Duties and Trust Companies Acts form the statutory framework for the operation of the financial centre. The International Companies Act imposes a solvency test on ICs – directors are responsible for ensuring that the IC is able to meet its liabilities, and can be personally liable for any shortfall. This framework is administered by the Financial Services Commissioner and adjudicated upon by the Supreme Court of Vanuatu.
Type of company for International Trade and Investment
Procedure to incorporate
Restrictions on trading
Powers of the company
Language of legislation and corporate documents
Registered office required
Shelf companies available
Time to incorporate
Restrictions apply to identical names or names suggesting a connection with a government of another country or a public or international organisation or a municipal authority. Other names may be disallowed on policy grounds, as may those that are considered generally undesirable or obscene.
Language of name
Names requiring consent or license
Bank, buildings society, insurance, assurance, reinsurance, fund management, investment fund, trust, trustees, finance or their foreign language equivalents.
Suffixes to denote Limited Liability
Authorised and issued share capital
Classes of shares permitted
Double taxation agreements
Annual franchise taxes
An International Company pays US$300 per annum. An Exempt Company pays a minimum sum of US$450 per annum; this amount may increase if a company has a high-authorised capital.
- There is no requirement for an International Company to file accounts.
- There is no requirement for an Exempt Company to file accounts unless it is licensed.
Both Exempt Companies and International Companies are required to keep accounts to present a true and fair view of the financial position of the company.
Key corporate features
- Type of company – International
- Shelf company availability – Yes
- Our time to establish a new company – 2 days
- Political stability – Good
- Common or Civil Law – Common
- Disclosure of Beneficial Owner – No
- Migration of Domicile permitted – Yes
- Corporate taxation – Nil
- Double taxation treaty access – None
- Language of name – Latin and other alphabets
- Minimum number of Shareholders/Members – One
- Minimum number of Directors/Managers – One
- Corporate Directors/Managers permitted – Yes
- Company Secretary required – No
- Usual authorised capital – None
- Registered Office/Agent – Yes
- Company Secretary – No
- Local Directors – No
- Local meetings – No
- Government Register of Directors/Managers – No
- Government Register of Shareholders/Members – No
- Annual Return – No
- Annual Return Filing Fee – No
- Annual Audit – No
Recurring government costs
- Minimum Annual Tax / License Fee – US$300
- Annual Return Filing Fee – N/A
Our company licensing services
— What we do and do not do
Our company is EXCLUSIVELY engaged in assisting worldwide clients, either individuals or corporate entities, to get duly and properly licensed with local Regulators and Financial Authorities to get respective official licenses to legally carry out their cryptocurrency or financial related business activities.
TBA & Associates Tax Business Advisors does not provide or carry out any sort of Cryptocurrency or Financial services!
Disclaimer: While TBA & Associates strives to make the information on this website as timely and accurate as possible, the information itself is for reference purposes only. You should not substitute the information provided in this article for competent legal advice. Feel free to contact TBA Customer Services for advice on your specific cases.