The Chinese have been a welcomed nation of investors and already there are major Chinese investments in Vanuatu. Having an offshore company in Vanuatu fits in comfortably with Chinese direct investment in the country.
What makes your jurisdiction different from other competitors for Chinese investors?
Vanuatu is unique because of its combination of existing Chinese direct investment in the country, a thriving offshore company and trust sector, and residency/citizenship possibility all in a close time zone to China with a lush tropical climate which has been voted twice the happiest country in the world.
Both major cities have Chinese full time resident medical teams of GPs, acupuncturists, midwives, dentists and operating theater doctors, supplied by the Chinese government under their aid scheme.
Both the Vanuatu government and the private sector maintain offices in Hong Kong to serve the Chinese investor.
What is the general taxation rate for incorporating companies in your jurisdiction?
Uniquely, Vanuatu has no income taxes on either offshore or onshore companies. Nor does it have any capital gains taxes, exchange controls, withholdings taxes or death duties. Offshore companies, by law, have a guarantee of no taxes for not less than 20 years, with a current proposal to increase that to 40 years. In exchange for no taxation, an offshore company cannot do business in Vanuatu, but you can with a local company and still have no income taxes.
Can the regulatory authority request information about the company and officers or account details from your jurisdictions?
The regulatory authority can request information but has no statutory power to demand specific client information. However, if the court orders disclosure, it must be given. The International Companies Act bars anyone (including the beneficial owner) from disclosing information about the company.
What are the fees associated with company incorporation and how long does it normally take?
Incorporation fees are US$500 to $700 and annual government registration fee is US$300.00. Registered office/registered agent fees are US$250 to US$350 per annum. Each nominee shareholder is US$200 to $300. Directors can often be supplied. 24 hours to incorporate an offshore company or faster if you pay a surcharge.
Does your jurisdiction have any DTAs with China or HK?
Vanuatu has no DTAs with China or Hong Kong or any other country. It does have 13 Tax Information Exchange Agreements but not yet any enabling legislation to make them operative. Vanuatu also does not have any law to provide enforcement of judgments issued in China
Source: Pacific International Trust Company
