If you are soon to be launching your own company, there is obviously a lot to consider. What type of company and perhaps, more importantly, where it will be based will have a significant bearing.
Some countries have much better business environments than others, which is why you should take a look at the many benefits to be gained by forming your company in Vanuatu, and here are just a few of the reasons to create the company on the island nation of Vanuatu.
1. Zero Corporation
Tax That’s right, when you register a corporation in Vanuatu, you do not have to pay corporation tax, and that alone is reason enough to register a new business in the Republic of Vanuatu. All you have to do is make contact with specialist accountants who handle company formations in Vanuatu, and they can talk you through the process.
2. Complete Privacy
Vanuatu corporations do not have to declare the owners or shareholders to public records, plus you can have a single shareholder, which is not something you would find in most countries. Furthermore, shareholders do not have to be Vanuatu nationals and there is no maximum number of shareholders, which is very favourable.
What’s more, a Vanuatu corporation does not need to have a company secretary, which is yet another bonus.
3. Stable Government
The Republic of Vanuatu is very stable and the nation has never seen civil unrest in its entire history. This is the ideal political climate in which to base your business, as political unrest can be very costly to a company. It is also quite easy to become a citizen of Vanuatu, which has many additional benefits for the business owner.
4. Low Minimum Investment
The minimum authorised share capital is only $300 and there are special accountants who are based in Vanuatu who can guide you through the formation process, while making sure that you get the maximum benefit from your business registration.
5. Accounting and Audit Requirements
Corporations in Vanuatu are not required to keep a list of shareholders and directors in their corporation records. Another benefit is that offshore Vanuatu corporations do not have to file annual returns or annual accounting records, which is yet another reason to choose this Island Republic to base your corporation.
6. English is the Spoken Language
One of the hardest things to deal with is having to do everything in a strange language, but not in Vanuatu, as English is the language of this small island nation. This make all communication very easy and there are no costly translation services, as you would find if you registered in a non-English speaking country.
Enlisting the help of a local chartered accountant who is resident in Vanuatu will make things much easier, and with their expertise, your corporation will reap the many benefits that come with registering in a politically stable and prosperous country like Vanuatu.
The many benefits all point to Vanuatu being a very favourable nation in which to base your new business.