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Tax Haven Vanuatu

The island of Vanuatu is located in the South Pacific Ocean. Vanuatu is actually an archipelago of islands which totals eight three (83). The capital of the island nation is Port Vila which is located on the island of Efate. The population of the Republic of Vanuatu is estimated to be at over 200,000 people. The main languages spoken in the territory are English, French and Bislama. The currency is the Vanuatu Dollar or the VATU.

The islands which make up the Republic of Vanuatu are a paradise. The islands of Vanuatu has a little of everything to offer, beaches, nightlife, great dinning, cultural events among other activities. Vanuatu has great diving among reefs and old wrecks. Diving trips can be arranged by tour operators around the island. The beaches on the island provide relaxing for just about everyone including sunbathers.

Vanuatu economy is dependent on the island’s small scale agriculture, tourism and its offshore financial sector. Cattle farming and the production of Copra are the main agricultural income earners. Tourism in tax haven Vanuatu is one the rise as the number of visitors to the island is constantly rising. The offshore sector of Vanuatu which was established in 1993 as well as the Vanuatu Financial Services Commission. Offshore business activities which are encouraged in the tax haven of Vanuatu are the formation of offshore entities, similar to Seychelles companies, offshore banking, offshore insurance the registration of ships and vessels, trust management and electronic gaming.

The tax haven of Vanuatu has its Financial Services Commission (VFSC) which is responsible for the incorporation of offshore companies and the regulation of other offshore entities in the tax haven of Vanuatu. Together with the government of the tax haven of Vanuatu the Financial Services Commission works to improve the offshore services currently being offered in the offshore tax haven. The Vanuatu financial services commission aims to make the tax haven of Vanuatu one of the most regulated offshore tax havens. The tax haven of Vanuatu has a well established and recognized offshore financial sector thanks to the Vanuatu Financial Services Commission.

Vanuatu tax haven offshore banking is very popular with offshore corporations and individuals. Offshore banking in the tax haven of Vanuatu is regulated by the International Banking Act of 2002. Offshore bank accounts in the tax havens of Vanuatu are not taxed. Vanuatu offshore bank accounts benefit from Vanuatu banking secrecy laws which were put in place to protect offshore bank accounts and offshore bank account holders in the tax haven. Privacy is one of the features of offshore banking in Vanuatu. Offshore bank account holders can be assured that that information in their bank accounts will be protected from the public and foreign legislation.

The formation of offshore companies in the tax haven of Vanuatu began in 1993 when the tax haven passed the International Business Companies Act. A Vanuatu offshore company cannot operate within the tax haven of Vanuatu. These offshore companies all operate tax free. A Vanuatu offshore company will pay no taxes on foreign gained incomes. The offshore legislation of Vanuatu guarantees that each offshore company formed in the offshore tax haven will receive twenty (20) years. Offshore company registered in the tax haven of Vanuatu pays no estate tax, capital gains tax, withholding tax, corporate tax, income tax or gift tax. Vanuatu offshore companies must pay an annual license fee to the government of the jurisdiction. Vanuatu offshore companies can be used to conduct trade and other offshore operations around the world.

Offshore companies incorporated in the offshore tax haven of Vanuatu are provided with privacy and protection. When incorporating Vanuatu offshore companies the details concerning the shareholders and directors is not registered as part of public files. For added privacy the offshore companies’ legislation encourages the incorporation of Vanuatu offshore companies with the use of nominee shareholders and directors. The annual financial records of an offshore company in the tax haven of Vanuatu remain private and are not submitted to any government department in the island nation. The financial document can be held anywhere the shareholders and other company official choose.

The offshore tax haven of Vanuatu provides quality asset protection for offshore clients. Assets placed in an offshore entity in tax haven Vanuatu are protected from the legislation of foreign countries and from divorce settlements, lawsuits etc.

The offshore tax haven of Vanuatu is quickly become one of the most well developed offshore tax havens to be found in the Pacific Ocean. Vanuatu has very modern offshore legislation which helps put in among the best available. Added to this is the island nation’s the stable political environment and a growing economy. The offshore tax haven of Vanuatu is a very competitive offshore jurisdiction which has no exchange controls in place for offshore corporations and also individuals.