When you are thinking about setting up an off-shore company, you need to think about the destination that you are going to place the business. If you are going to set up a company in this way, you need to make sure that everything is done correctly.
You can hire some specialists to help you set up the off-shore business.
Where Is Vanuatu?
Vanuatu is a chain of eighty islands that is situated near to Australia. The capital is the main centre of business called Port Vila which has a population of just fewer than 45,000. This is somewhere what you should consider as the location for your business, whatever sector you happen to be in.
Why Choose Vanuatu To Base Your Business?
There are several reasons why it is much better to base a business in Vanuatu rather than the mainland of nearby Australia. Setting up an offshore company in Vanuatu is going to be simple when you have the right advisers on board with you.
It Is A Convenient Flight From Australia
- Many bosses want to be hands-on with their business to make sure that everything is under control.
- You will be able to fly from your home in mainland Australia out to the island.
- Then you will be able to see how everything is going with your company before flying back home again.
Income Tax Is Not Applicable In Vanuatu
- Income tax does not apply when you are doing business in Vanuatu.
- This is going to allow your company to keep more of the profit that it makes.
- This absence of income tax is going to be explained to you by advisers who help to set the business up.
Capital Gains Tax Is Not Applicable In Vanuatu
- When a business sells an asset in Vanuatu, it is not going to be liable for capital gains tax.
- This is an attractive proposition when you are thinking of setting up a base of operations on the island.
- The absence of capital gains tax will be explained to you by the people you have hired to set up the company.
Withholding Tax Is Not Applicable In Vanuatu
- Withholding tax is a tax that is taken from the wages of your employees.
- They will be happy to know that this is not applicable in Vanuatu.
- When your company is being set up in Vanuatu, your advisers will explain this in greater detail.
Everything Will Be Handled By Advisers
- You do not have to do all of the company forming by yourself. Instead, this will be handled by a team of advisers. You will be in constant communication and the whole process will be transparent so that you are comfortable.
Setting up a business in Vanuatu is going to be advantageous. There are much fewer restrictions regarding tax than there is in neighbouring Australia.
However, it still requires paperwork, so that is best left to your advisers.