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It is rare to find the combination of a
fiscal and tropical paradise which exists in
Vanuatu.
The country boasts an advantageous tax regime
which is enhanced by several unique features
when compared to other finance centres:
• There is no income tax in Vanuatu, no
withholding tax, no capital gains tax, no death
duties and no exchange controls. Money is easily
transferred in all major currencies.
• Vanuatu financial centre has been in operation
for almost 40 years, much longer than many of
its competitors. Its infrastructure of lawyers,
accountants, trust companies and banks is well
established and this enables it to offer
investors a reliable and high quality service
“on the spot”.
• The country has a unique multicultural environment.
This is inherited from Condominium times before its
independence in 1980 when it was governed both by
the French and the British.
There is no doubt that Vanuatu has a number of
potential advantages as an investment location. The
government is strongly committed to the promotion of
new investment and will assist significant
investment or investments in new industrial or
agricultural pursuits as far as possible.
The government is also interested in encouraging
investment in tourism, fishing, forestry and timber
products. However, there are restrictions to ensure
that natural resources are not over-exploited. The
thrust of government thinking is to encourage labour
intensive industries, using local products that will
lead to import substitution.
Manufactured goods exported from Vanuatu generally
enjoy concessions from the Vanuatu Government. There
are various accountants and lawyers in this tax
environment who can help you finalising your
project.
So, if you have a spare moment while in Vanuatu,
don’t hesitate to call in to see one of the expert
consultants who will look into possibilities with
you.
You havenothing to lose and everything to gain.
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Tourism is one of
the major growth industries of Vanuatu.
The country is now well established as an
attractive tourist destination and
significant growth.
Significant funds have been committed and
the promotion and development of tourism
continues to be actively encouraged.
Increased flights by airline companies and
the recent introduction of flights from
Virgin Pacific Blue and Air New Zealand have
created a demand that is testing both the
capacity of existing hotels and the current
infrastructure of the industry.
The country really needs investment not just
in upgrading existing hotels but also in new
hotels and its tourism infrastructure |
Lindsay
Barrett, August 2009
Lindsay Barrett is the managing
Partner of Barrett & Partners
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