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Vanuatu

Vanuatu Flag

Country: Vanuatu
Region: Pacific
Currency: Vanuatu Vatu (VT) (VUV)
Languages: Bislama, English French
Time Zone: UTC +11

Phone Code: +678

Communications: OK

Formation Cost: 1800 - 3000 USD$
Formation Time: 1-4 days
Maintenance cost: 800 - 1400 USD$

Executive Summary: Vanuatu is a group of tropical islands on the eastern seaboard of Australia with a population of approximately 260,000. The islands had British/French governance until independence in 1980 and therefore the most widely-spoken languages are English, French and Bislama (pidgin). The legal system is based on English common law with some civil law influence. Vanuatu's economy, historically based on agriculture and fishing, is now dependent on tourism and financial services. There is a strong contrast between the relatively sophisticated capital Port Vila, with its expatriate workers, and the subsistence economy of most of the Ni-Vanuatu islanders. Most goods are imported, and import duties and value-added tax are the main sources of Government revenue. There is no direct taxation in Vanuatu. Import and export duties, registration fees, business license fees, stamp duty, VAT and a tourist turnover tax generate Government revenue. The offshore sector is well-developed, with the IBC-style International Company being the entity of choice. Banking, insurance, trust management and electronic gaming are the most important activities. Under pressure from the OECD and neighbouring Australia, Vanuatu has signed a number of tax information exchange agreements.

Suitable for: Shipping, Aviation, Yachting, Trading Goods, Intellectual Property/Licensing, Holding Companies, E-commerce, E-gaming
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Company Purpose Stats:

Wealth Management:

 

Treasury Management:

 

Banking:

 

Insurance:

 

Fund Management:

 

Shipping:

 

Aviation:

 

Yachting:

 

Trading Companies Goods:

 

Trading Companies Financial:

 

Intellectual Property:

 

Holding Companies:

 

E-Commerce:

 

E-Gaming:

 

Property Ownership:

 
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Vehicle Types: Local limited companies, exempt companies, international companies, general partnerships, limited partnerships and trusts

Capital primary business districts: Port Vila

Good Relationships: Australia, Cook Islands, Marshall Islands, New Zealand, Niue, Papua New Guinea

Bad Relationships: Burma, Egypt, Iran, Libya, Somalia, Sudan, Syria

Tax Burden - Business: Very Light

Tax Burden - Individual: Very Light

Headline tax rates: CIT 0%, PIT 0%, VAT 12.5%

Treaty Jurisdictions: None

TIEA Jurisdictions: Australia, Denmark, Faroe Islands, Finland, France, Greenland, Grenada, Iceland, Ireland, Korea, Republic of, New Zealand, Norway, San Marino, Sweden

Information Links:

 

 

 

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Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.

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