A number of businesses now prefer setting up offshore companies in order to take advantage of the tax implications. Contrary to what most people are led to believe, setting up an offshore business is perfectly acceptable. It’s a legal method used by companies that are looking to take advantage of the tax havens available all over the world. Vanuatu is one of the many tax havens that businesses now prefer setting their offshore companies in. If you are planning on expanding your business to Vanuatu, there are a number of things that you should take into account.
First of all, you need to know about the laws and guidelines for businesses looking to register their companies in Vanuatu. Unless you are aware of the legal guidelines within the country, you might end up paying a hefty fine to the local government. To avoid such troubles, you should consider hiring an administration firm that offers professional business advice in Vanuatu. Here are a few benefits that you get for hiring an administration firm for business advice.
Understanding Your Business Model
Depending upon the industry that you work in and the nature of your business, the laws may apply to your company differently. When you sit down with expert accountants from an administration firm in Vanuatu, you can provide them all of the details regarding your business as well as the reasons why you would want to expand to Vanuatu. It’s generally important that you talk to someone who has an astute understanding of the local laws and can help you figure out just how much you can save if you decide to move your business to Vanuatu.
They will let you know about the licenses or permits that you will require and will also help you figure out whether you need to set up a trust or separate capital accounts. The administration firm will basically create a chart of things that you need to do in a particular order to efficiently set up an offshore company in Vanuatu.
Other Services
Once you move to Vanuatu, you will also require accounting and auditing services. Most administration firms work with certified chartered accountants and offer a wide range of services, including accounting and audit services. If you need to get an external audit done of your company to appease the investors, you can hire the company to conduct one.
If you require strata titles over leases, the firm can help you with that as well. If you require any kind of corporate assistance, just let the managers know and they will handle the rest. All of the services that they offer are designed to make it easy for businesspeople to set up their companies here.