Business And Finance

Do You Want to Set up a Business in Vanuatu?

A business venture can be exciting, especially if it is off-shore. For example, many business people today are opting to live and do business in Vanuatu. This island nation in the middle of the Pacific Ocean is an ideal getaway as well as a place to live and do business. You can find lush rainforest trees and green foliage that takes you to another place and time.

That type of experience in and of itself is reason enough to find a business advisor that can answer all your enquiries about living and working in this type of Pacific Island paradise. The business advisor you choose should provide a broad range of business services. That way, you can count on one entity for accounting and business advice.

Types of Advisory Services

Along with accounting and audit services, choose a business that provides services for corporate setups, licencing and permits, trust services, and strata title services. When you obtain Vanuatu business advice from this type of firm, you can learn the ropes about performing business in this part of the world. You should never set up a business without contacting an accountancy firm that provides a variety of business services.

Many start-ups in the island nation depend on accounting and audit advice to organise their transactions. Any company that uses audit services can properly plan and manage their company’s procedures. By using auditing services, you can also properly analyse risks and review and evaluate your management practices. Auditing makes it possible for you to receive constructive reports that are tailored to your company’s size and the nature of the business.

By choosing the right accountancy firm, you can also implement popular accounting systems such as MYOB, which is recognised in Australia. Another software programme is Xero, which is a cloud-based type of accounting software. By working with an accountant, you can implement these types of updates and transact business with much more ease. Both systems analysis and support are provided.

Do You Wish to Register As an IC or Local Company?

Do you wish to incorporate your business, either internationally or locally? If so, you can do it with the help of a reliable chartered accountant. For example, if you wish to opt for an international incorporation, you can register your company in Vanuatu but cannot do business in the country. Any registered international corporation or IC cannot transact business in Vanuatu.

If you are incorporated as a local business, you can perform business inside and outside of Vanuatu. A local company can become incorporated within 48 hours after an application is submitted to the Vanuatu Financial Services Commission, or VFSC. To be a local company in Vanuatu, you only need to have one shareholder who can either reside in Vanuatu or someplace else. Also, one person only needs to act as the company’s director.

Naturally, any of the above information may be difficult to obtain on your own. That is why it is good to know that you can turn to a chartered accountant that provides both accounting and business advice. Take time today to explore the services online if you wish to set up an off-shore business or want to live and work in Vanuatu.