The Pacific island Republic of Vanuatu is one of the most attractive nations in which to set up a country, and is located in the South Pacific Ocean. With a population of just under a quarter of a million people, the government welcomes foreign businesses by offering very generous concessions, and more and more Australian entrepreneurs are being drawn to this tropical paradise, as well as people from other parts of the world.
Professional Business Advisers
If you are thinking of opening a company in Vanuatu, there are licenses and permits that you need to obtain, and there are specialist firms to help with company formations in Vanuatu, with many years of experience in all aspects of living and working in the Republic of Vanuatu. The process of setting up a business is complex, and you really do need the help of a local chartered accountant, who will make sure that you take the right direction.
Taxation
In Vanuatu, there is no income tax, capital gains or inheritance tax, which makes is a very attractive proposition for a business owner. Indeed, businesses that are based in this tax haven escape many regulatory processes, which is one of the reasons why this tiny island attracts so many companies. Many shipping companies register their vessels in Vanuatu for that very same reason, yet it is a rather complex procedure to gain the necessary licenses and permits to live and operate a business on the island. In some countries, taxation and legislation is very high, and this makes it very difficult for a new business to get off the ground, while forming a company in Vanuatu offers many distinct advantages, with many areas that are completely free of taxation.
Business Advisory Specialists
There are several accountancy firms that specialize in offering advice to those who wish to form a company in Vanuatu, and they can easily be located with an online search. Once you have made contact with such an expert, they will explain what you need to do in order to form a company, and depending on the nature of your business, there are permits and licences to be obtained.
Company Auditing
Once you have successfully set up your company, a local chartered accountant can ensure that your books are audited on time, and they also have a business consultancy service, to ensure that your company takes full advantage of the many attractive concessions that Vanuatu businesses enjoy.
Planning
Prior to actually doing anything, you are advised to seek out the help of a local accountancy firm, and once they are aware of the nature of your business, they can advise you accordingly. This will save you a lot of time and money, as the process of setting up a company in Vanuatu can be very complex, and without expert assistance, it would be very difficult to navigate.
You can take advantage of a very attractive business environment by forming your company on the tropical island of Vanuatu, which will give you a solid foundation to go on and achieve sustainable growth.
