In Vanuatu, ships must be owned by either individuals who are citizens/nationals of the country, or by companies established in Vanuatu. An international sea vessel owner can form a company in Vanuatu, and register the vessel in the name of that company as the owner. It is important to note that a Deputy Commissioner in Vanuatu has the authority to waive this requirement.
Benefits of Choosing Vanuatu for Your Corporation
The number one benefit is that there are zero taxes on corporations in Vanuatu. No income taxes, no personal taxes and no corporate taxes. Vanuatu has policies and regulations that allow for a high degree of privacy and confidentiality for corporations. The regulations involved are easy to comply with. The number of corporations in Vanuatu has been increasing in recent years and is expected to continue to grow.
It is important to note that a person who forms a company in Vanuatu with the intention of registering a vessel there, is not required to live in Vanuatu. Once most people get a taste of the magnificence of Vanuatu, they voluntarily move there. However, it is not mandatory. A business owner can live anywhere in the world and still have a corporation in Vanuatu.
How to Set Up a Corporation in Vanuatu
The required documents include a scanned color copy of a valid passport and proof of address (Utility Bill, Driver's license or Bank Statement are all accepted as proof of address) for every director and shareholder.
Through VLAS’ corporate services partner website, Trade Board Limited, one can fill out all required forms online on the spot. The website is self-explanatory and easy to use. Trade Board Limited’s staff is always available and ready to assist. It is recommended to have a look at all forms before beginning to fill them out, in order to know what information is required.
Fees
The cost of setting up a company in Vanuatu is around USD 1,150, all inclusive. The yearly maintenance and good standing fees are USD 600. No audit is required.
