How to get business license in Vanuatu?

Obtaining a business license in Vanuatu requires several steps to ensure compliance with local regulations. Here’s a general outline of the process:

1. Choose Your Business Structure

Decide on the structure (e.g., sole proprietorship, partnership, limited company). Many international companies prefer Vanuatu’s International Companies (IC) framework, especially if they want to take advantage of tax incentives and simplified compliance.

2. Register Business Name

A business name is generally registered with VFSC. Normally, an application form and some sort of fee are filed in which the applicant has the name reserved for a certain period.

3. Apply for Incorporation

Filings will be made in VFSC as an international company or a limited company. Documents filed usually include the following:

Completed Application Form

Articles of Association

Memorandum of Association

List of Directors and Shareholders

4. Business License

Apply for a business license from the Department of Customs and Inland Revenue. Specific requirements may vary based on the kind of business and industry involved; generally, the following will be required:

Business license application completed

Proof of business name registration and incorporation documents, where applicable

Address and location of the business

Business license fee payment, which shall depend on the type of business and scale

5. Meet Sector-Specific Requirements

Depending on the type of industry, such as financial services or tourism, for example, there might be additional licenses that are necessary or approvals from their regulators. If a person is venturing into a regulated industry, it is worth contacting a local expert or corporate service provider.

6. Meet Other Requirements

Whatever be your business, you may be obligated to declare your fiscal obligations, such as VAT, before the competent authority, or follow labor and immigration laws when you hire a non-resident employee.

7. Annual Renewal

Normally, the licenses for various types of businesses in Vanuatu will need to be renewed annually; however, renewal requirements and fees may change depending on the particular field in which the company is operating.

Read more: Vanuatu Securities Dealers License and Permission

Each step should be independently checked with the relevant authorities, as rules and regulations do change. Vanuatu is an extremely attractive place to set up business-in particular, an international company-due to its special tax regime and favorable regulatory environment.