Vanuatu is a great opportunity for businesses. This tax-friendly country has gone through structural reforms that make it easier for those outside the country to do business in Vanuatu. Vanuatu offers offshore financial services that make operating a business far easier.
About Vanuatu
Located in the South Pacific, this small archipelago country is located almost 800 miles from Fiji, and a little over 1,200 miles from Australia. Vanuatu’s economy is based on tourism, offshore financial services, and agriculture. The country benefits from a tropical climate with nine months of warm rainy weather and temperatures that don’t vary that much throughout the year. Due to the country’s location along a complex and active tectonic plate boundary, it often experiences non-destructive earthquakes due to the depth of the earthquakes in the ocean from tectonic settling. Vanuatu is also home to 22 volcanoes, 7 of which are extinct, 2 which have ongoing activity, and 2 which have not erupted since the 19th and 17th centuries. The economic growth and stability of the country are the main reasons Vanuatu is an excellent choice for businesses as there is no direct taxation in the country due to its tax-friendly regulatory framework.
Why Vanuatu Is A Good Choice For Business
There are a whole host of reasons why Vanuatu the country to choose when it comes to forming a company. These include:
– English is the main language used in business and one of the three official languages. French and Bislama are the other two.
– There is 0% taxation and no auditing of business.
– There is no upfront capital requirement.
– There are secured systems in place to protect client confidentiality.
– There is an excellent international communication system in place.
– Vanuatu has its own Earth satellite stations
– There are also 24-hour telephone and data transmission facilities.
– Broadband internet is widely available and there is a submarine fiber optics system in place linking Vanuatu with the rest of the world