Three facts about Vanuatu. First, it consists of approximately eighty-three islands situated in the South Pacific Ocean and located between Hawaii and Australia. Second, the population is about 200.000 people speaking English and French. And finally, the group of islands has been an important financial offshore center since 1971.
Above all, the government of Vanuatu hugely strives to satisfy the needs of offshore companies. At the moment, their activities contribute about fifteen percent of Vanuatu’s GPD. That’s why Vanuatu is considered as one of the greatest tax havens all over the world. It provides plenty of offshore services to clients from around the globe, including the United States and European countries.
The Main Benefits of Vanuatu Tax Haven
Tailoring the legal and business environment for IBCs
As mentioned in the beginning, the government of Vanuatu strongly commits to provide offshore companies with the best conditions for conducting their businesses. Due to this, the government has implemented a lot of important laws aiming to favor the setup of international companies.
Light administrative regulations
Directors and managers of IBCs (International Business Companies) are imposed with minimal administrative duties. For instance, Vanuatu tax haven doesn’t require IBCs to pay a license fee for covering the lack of regulatory obligations as well as filing of annual accounting reports.
Paying no tax for the initial 20 years
Offshore International Business Companies registered in Vanuatu are exempt from paying taxes entirely for the first twenty years. It’s the best business solution for startups or the business aiming to lower tax expenses.
As previously mentioned, Vanuatu tax haven does restrict the public access to their offshore business companies’ financial details as well as personal information about the owners and related persons. It helps businesses to have control over the activities. However, if a company is involved in illegal activities, confidentiality could be withdrawn.
Keeping accounts and records in any location in the world
Vanuatu tax haven doesn’t oblige the companies to preserve all the records within their jurisdiction. The offshore companies based in Vanuatu may maintain their records and accounts in any suitable location that helps them keep their business activities completely confidential.
Swift registration process
It’s important to mention that the quickness of registration processes is totally free from bureaucracy and takes about two or three business days. The tax haven also offers to register a company in Vanuatu without any physical presence. The shipping of legal documents doesn’t depend on it and is usually done within five days after registration.
What Makes Vanuatu a Great Tax Haven
Modern Infrastructure and Reliable Communication System
Besides the opportunity to connect any of the islands using a microwave telephone network, it also provides you with the possibility to connect the rest of the world as well. Moreover, the tax haven possesses an excellent transportation network and offers convenient access by air.
Trustful and Efficient Financial Services
It’s important to mention that all the financial institutions in Vanuatu offer a lot of options and services for offshore companies, such as checking accounts and savings, insurance facilities, lines of credit, etc.
In addition to such traditional financial institutions as banks and credit unions, non-profit organizations offer their services as well. The list consists of different lending companies that provide the offshore business owners with the best personal loans to cover their urgent expenses. It may include such cash advance options as short-term loans, 1-hour loans, and same day payday loans, instant loans that can be obtained with no hustle and unnecessary paperwork.
The lending companies offer the fastest and easiest online loan application and funding process. The IBCs are able to get the required funds within 24 business hours after applying for a loan. The funds are usually transferred directly to an active bank account that lets borrowers avoid visiting local branches.
It should be noted, Vanuatu tax haven has been politically stable since gaining independence in 1980. That means there will not be any interference or any business interruption that unstable government might cause. It’s a good point to consider when planning to transfer your business to Vanuatu.
When to Consider Vanuatu Tax Haven for Your Business
Choosing Vanuatu tax haven can be a great solution when:
- Starting a new business or running the existing one (even an online business) on a strict budget or with small capital.
- Striving to keep private business financial details and owners’ personal information.
- Initially starting your business in a politically unstable country and considering removing it to another one.
- Planning of expanding the business and strategically introducing the products into Vanuatu and its surrounding countries.
In case if one of these variants is similar to your current situation, you shouldn’t have any doubts about starting a business or moving it to Vanuatu tax haven.
Keep in mind the government of Vanuatu implemented many special laws and professional facilities to serve your interests as an offshore company. This attitude makes Vanuatu tax haven one of the most trustworthy tax havens all around the world.