Vanuatu

Offshore companies in Vanuatu are established in the form of Trusts, International, Exempted or Local Companies. The latter option will suit those businessmen who plan to carry out activities on the territory of the state.

There are no strict requirements for the amount of share capital. For the EC it is recommended to form a capital of $10,000. The director and two shareholders (this is the minimum composition) of the company can have the citizenship of any country, including Vanuatu. The founders can choose a name in any language. You only need to provide an English or French translation. The issue of preference shares and bearer shares, with or without par value, is authorised.

Reporting

    • Reporting requirement No
    • Open access to reportingNo
    • Mandatory auditNo
    • Annual Return Submission RequirementNo
    • Open access to Annual ReturnNo
    • Reporting requirementNo
    • OECD MembershipNo
    • Is it considered offshore under Russian lawYes

6 simple steps to purchase a company

  1. choosing a country

  2. choosing a bank

  3. payment (by any method)

  4. sending documents

  5. company registration

  6. bank account opening

Organisational and legal forms

  1. International company;
  2. Foreign company;
  3. Exempt company;
  4. Unlimited Liability Company;
  5. Limited Liability Company;
  6. Offshore Limited Liability Company;
  7. A registered company with segregated portfolios and a protected company with segregated portfolios;
  8. Fund;
  9. Local company (suitable for trading in the jurisdiction).

The most common form of offshore company in Vanuatu is an International Company.

Features of conducting financial activities

The Vanuatu Offshore Zone offers two types of licence for conducting activities in the form of a financial institution and a bank. In the first case, it is necessary to disclose information about the beneficiaries and auditors, submit a business plan, account details (for legal entities) and letters of recommendation (for individuals). If the company is registered in Vanuatu under the second type of licence, the bank is entitled to raise funds for deposits. In other respects, the requirements are similar to those described above.

Banks registered in the country may be local or exempt. The latter must conduct business outside Vanuatu. Domestic transactions are only allowed in partnership with other offshore companies. Exempted banks must have a registered office in the jurisdiction, a licence and a paid-up share capital of $150,000. The word Bank should be in the institution's name. Only a resident can be a director.

International company registration

  1. Such a concept as "share capital" is not applied.
  2. Shares or guarantees (or both) can limit a company's liability.
  3. A registered office and agent must be registered in Vanuatu.
  4. The company constitution (equivalent of the Articles of Association and Memorandum of Association) is submitted to a special commission for registration.
  5. Registration of an international company (offshore) in Vanuatu can be completed within 24 hours.
  6. The company may choose a name in any official language, on the condition that a certified translation of the name into English is provided.
  7. To have words (or their equivalent) such as bank, finance, insurance, assurance, fund management, investment fund, buildings society, trust, trustees, reinsurance in its name, a company must obtain a license or special approval.
  8. Shares with or without par value and bearer and preference shares are permitted.
  9. One shareholder and director are sufficient for the existence of the company and there are no requirements for their status.
  10. Third parties do not have access to data regarding the founders and other representatives of the company.
  11. There is no requirement to hold annual general meetings and to submit annual reports.
  12. It is up to the shareholders to decide where the meetings will be held.
  13. The company has a bank account but cannot trade or own property in Vanuatu.
  14. The company is automatically exempt from foreign currency controls, stamp duty and any taxes. The validity of these terms and conditions is 20 years from the date of registration.
  15. The company pays an annual government fee of $300.

Registration of an Exempted Company

  1. $10,000 is the standard share capital.
  2. A registered office and agent must be registered in Vanuatu.
  3. After the company's Articles of Association are signed, the document is submitted to the registration authorities. Once the registration process is completed, the shares are transferred to the shareholders.
  4. At least one director of the company must be a resident of Vanuatu (one director is allowed). Alternatively, the resident may be a designated deputy director.
  5. The board must meet once a year.
  6. An annual report must be filed, but an audit is not necessary (except for companies with an insurance, trust or banking licence).
  7. The licence fee payable annually is $450.

Taxation

Offshore companies in Vanuatu don't pay

  1. income tax;
  2. corporation tax;
  3. a capital export tax;
  4. inheritance tax;
  5. income tax from the stock exchange;
  6. sales tax.

If you have any questions, please fill in the contact form below, and we will reply as soon as possible