GSL / Offshore and International Law / Offshore zones / Australia & Oceania / Vanuatu / Legislation of Vanuatu

Legislation of Vanuatu

Service packages Legislation Tax System

List of laws and regulations

Act name
Scope of law
company names
companies
financial institutions
foundations
incorporated portfolio company
insurance companies
interactive games
international banks
international companies
registering ships
cooperation in criminal matters
mutual funds
confidentiality
offshore limited partnerships
protected portfolio company
Reserve Bank of Vanuatu
trust management
unit trusts
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Tax treaties entered

Sweden

Tax Exchange Information Agreement (TEIA)

Australia
Denmark
Faeroe Islands
Finland
France
Greenland
Grenada
Iceland
Ireland
New Zealand
Norway
Republic of Korea
San Marino

List of state regulatory authorities

Department of Customs and Inland Revenue
Financial Services Commission
Government of Vanuatu
Reserve Bank of Vanuatu
Vanuatu Chamber of Commerce and Industry
Interactive Gaming Consultants Ltd

Corporate info

Legal system
Mixed system of law: English common law, French law and Vanuatu customary law
Types of entity
'Local' Limited Company; Exempted Company; International Company; Overseas Company; General Partnership; Limited Partnership; Offshore Limited Partnership; Foundation; Protected Cell Company; Incorporated Cell Company
Shelf companies permitted
Yes
Incorporation timescale for a new company
1 working day
Company suffix
Corporation, Incorporated, Limited, Sendirian Berhad, Societe a Responsabilite Limitee, Besloten Vennootschap, Gesellschaft mit beschrankter Haftung, or their abbreviations: Corp., Inc. Bhd., SARL., B.V., or GmbH, etc.
Sensitive words
"Royal", "Imperial" or other similar misleading words, according to the Financial Services Commission
Cyrillic alphabet permitted in company name
Yes
Local registered office
Yes
Local registered agent
Yes
Information to be kept at the registered office
accounts, records, minutes of all meetings, copies of resolutions, registers of directors and shareholders
Seal required, type of seal
No
Redomiciliation (to, from) permitted
permitted

Director and secretary

Minimum number of directors
1
Residency requirements for directors
No
Corporate directors permitted
Yes
Directors’ meetings/frequency/location
No restrictions
Disclosure to local agent
Yes
Disclosure to public
No
Company secretary required
No
Residency requirements for a secretary
No
Qualified secretary required
No
Corporate secretary permitted
Yes

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
No
Corporate shareholder permitted
Yes
Meetings/frequency/location
No restrictions
Disclosure to local agent
Yes
Disclosure to public
No
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
Not established
Minimum issued share capital
1 share
Minimum paid share capital
1 share
Authorized capital payment deadlines
Not established
Issued capital payment deadlines
Not established
Standard currency
USD
Standard authorized share capital
10000
Standard par value of shares
1
Shares with no par value permitted
Yes
Bearer shares permitted
Yes

Taxes

Personal tax
No
Min. rate for corporate tax
No
Corporate tax (in detail)
No
Capital gains tax
No
Capital gains tax. Details
No
VAT
No
VAT. Details
International companies are exempt from all forms of taxation in Vanuatu
Withholding tax
No
Other taxes
No
Exchange control
No
Government fee
150 USD for the registration of an international company
Stamp duty
No

Accounts

Requirement to prepare accounts
No
Requirement to file accounts
No
Publicly accessible accounts
No
Requirement to file Annual Return
No
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
An archipelago of 83 islands between New Caledonia and Fiji in the South Pacific
Total area
12,200 sq. km
Population
300.000 (2019)
Capital
Port Vila
National currency
Vatu
Conditional reduction of currency
VUV
Against USD
113,67 (2022)
Climate, average max and min t°
tropical marine; two main seasons: cold (dry season) from May to October with an average temperature of 25 °C and wet (cyclone season) from November to April with an average temperature of 27 °C.
Time difference from Moscow
+ 8 hours
Dialing code
+678
State language
Pidgin (bislama), English, French
Ethnic groups
97.9% Ni-Wanuatu (Melanesians); 1.0% Europeans; 0.4% other ethnicities (Pacific Islanders); 0.7% others
Literacy rate
78,1% (2019)
History
Credit rating
Government type
A parliamentary republic
Executive branch
Cabinet, headed by the Prime Minister; appointed by the Prime Minister and answerable to Parliament
Legislative branch
Unicameral Parliament: 52 MPs elected by popular vote for four years
Judicial branch
Supreme Court, Court of Appeal, Magistrates' Courts, Island Courts
Unemployment
2,1% (2020)
GDP per capita rank
175 (2020)
Corruption perceptions index rank
45 (2021)

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