BUSINESS 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.
COMPANY NAME SEARCH
Request a free Search
Vanuatu's primary economic activity is tourism, as is common for many tropical islands. The country boasts a wealth of natural beauty, including both highlands and lowlands, making it an attractive destination for travelers. Vanuatu's diverse islands each offer a unique and charming experience for tourists.
The tourism industry in Vanuatu is expanding to meet the growing demands of travelers. Additionally, the country's economy is primarily based on agriculture, with fertile land supporting a variety of crops for local consumption and export. Key exports from Vanuatu include kava, corn, coconut oil, coffee, cocoa, copra, timber, and beef. In addition to agricultural activities, Vanuatu also offers offshore services and is home to several European companies operating within its borders.
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.
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
STEPS TO SETTING UP YOU BUSINESS IN VANUATU
Prepare your Documents
Document preparation is key to fast processing, we process, create and collect all necessary information, data, and materials to This can include gathering research, writing drafts, editing and revising, formatting, and finalizing the document for submission.
When preparing the business plan, we consider the purpose of the business, the target audience, the desired outcome, and any specific requirements or guidelines that need to be followed.
Attention to detail and accuracy is crucial to ensure that the document is clear, coherent, and professional, to avoid deplays.
Submit documents to Government
Submit the application form and all supporting documents to the relevant government department or agency.
Pay the prescribed fees for the application and processing of your business license and permits.
Await the processing of your application by the Vanuatu government.
Once your application is approved, you will receive your business license and permits.
Trading in Vanuatu
Running a business in Vanuatu can be both rewarding and challenging. The island nation offers a unique business environment with potential for growth and success.
One of the main challenges of doing business in Vanuatu is navigating language barrier and red tape that can sometimes slow down the process of starting and operating a business. It is mportant to have local employees, that can network for you to assist with run smoothly.
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.
Pre Approval for Business Licence
