Offshore news !
|Vanuatu To Join The World’s Optical Fibre Internet Backbone|
As part of the Government Vanuatu’s commitment to encourage the development of e-business and IT infra- structure, the Vanuatu Government has thrown it’s full support behind the current Joint Venture project between Interchange Limited, a Vanuatu local IT company and Alcatel-Lucent, the giant French telecommunications company to deploy Vanuatu’s first international submarine cable system linking Port Vila, the capital of Vanuatu, to Suva, Fiji.
|Incorporate a Local company|
To carry on business in Vanuatu as a company, you will need to incorporate a local company as a Vanuatu offshore company is not permitted to carry on business in Vanuatu, only outside of Vanuatu - "offshore".
A Vanuatu local company may have a Vanuatu offshore company as it's shareholder. This will allow you additional confidentiality.
As is the case with an international or offshore company, no tax is levied on a local company’s income. The only ‘tax’ is VAT. A local company is required to register for VAT, if the company’s turnover is VT4, 000,000 or more per annum. VAT is 12.5% on sales. VAT can also be claimed back from business expenses.