Doing Business in Vanuatu
Doing Business in Vanuatu
Why would starting a company in Vanuatu be ideal for entrepreneurs?
Mostly because it has no tax. You make money, and you get to keep it. Only in Vanuatu, there is no income tax, withholding tax, corporate tax, death duties or capital gains. The government acquires revenue through value-added tax (VAT) on goods and services. This is the usual implementation anywhere in the world. Vanuatu’s tourism industry is widespread throughout all its populated islands. Hence, the local government imposes a tax on imported goods. These imported goods are mostly for the tourism industry in Vanuatu.
Living a island lifestyle like Vanuatu does not require one to be a billionaire, contrary to popular belief.
With determination and hard work, individuals can make a home in Vanuatu and enjoy a balanced lifestyle of work and leisure.
Those with a drive for success and a strong work ethic can easily establish themselves in Vanuatu. Setting up a business on the island can be an appealing option for those who are passionate about entrepreneurship.
In Vanuatu, individuals can earn money without the burden of income tax, withholding tax, corporate tax, death duties, or capital gains tax.
The government generates revenue through value-added tax (VAT) on goods and services.
Vanuatu's primary economic activity is tourism, as is common for many tropical islands.
REQUIREMENTS FOR SETTING US A BUSINESS
- Register an available business name
- Apply foreign investment certificate
- Have a clean police record
- Proof of financially being able to support a new business
- Business plan & financial projections
- Valid passport
- Employ a minimum of 1 local Ni Van
The process once all paperwork has been submitted generally takes up to 21 business days
Further Benefits of setting up business in Vanuatu
- High level of privacy and confidentiality
- Exempt from paying taxes in the country
- Ease of administration – no requirement to file financial accounts
- Minimum ongoing compliance requirements
- A stable and independent political and economic environment
- Remote staff to manage you business
Have a business concept? Submit your idea for pre-approval.
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