Vanuatu is an independent country in the South Pacific Ocean. The economy of this beautiful island country is primarily dependent on the tourism sector, along with the opportunities available for offshore businesses. Vanuatu was a tax haven even before its independence in 1980 and it retained this status after its independence. Apart from that, there are several other factors also that contribute to the growth of offshore company formation in small islands.
Following are few important advantages that can be attained by foreign investors after the establishment of IBC in Vanuatu.
- There is no compulsion of minimum and maximum share capital for a Vanuatu offshore company. The company can use currency of its choice for the capital it uses
- Only a single director and shareholder are required, while a single entity (individual or company) can maintain both these positions
- Directors and shareholders can be citizens and residents of any country
- Highest level of privacy is ensured by the country. Vanuatu is one of the few countries that haven’t joined the AEOI (Automatic Exchange of Information) yet. The country secured ‘secrecy score’ of 88/100 in the 2011 Financial Secrecy Index by the “Tax Justice Network”
- But even then, formation of any type of company is free from any legal issue as the country is included in the “White List” of the OECD (organization for economic cooperation & development)
- There is complete tax exemption for Vanuatu IBCs for 20 years after it incorporation
- Annual general meetings are not compulsory. They can be conducted anywhere in the world via telephones, conference calls etc
- Government fee is fixed for all types of companies
- Vanuatu offshore company can do business anywhere else in the world
- Annual returns and filings are not required. There is also no audit on financial statements
All these points clearly reveal that Vanuatu is one of the best places for establishment of offshore companies. In order to avail this opportunity, you can contact us via our landline # 971-4-5586339. We will assist you in obtaining complete information and formation of Vanuatu IBC.