When you are thinking about setting up a business in Vanuatu, there are lots of different facts that you need to consider.
One of the main attractions for doing business in Vanuatu is the fact that you are not subject to the same kind of tax restrictions than in Australia.
The peaceful surroundings of Vanuatu also make this the perfect place for working. There is a relaxed pace of life here that can benefit employees and they will work much more efficiently.
Every aspect of the company formation can be handled by an advisory service. You should use a qualified service to dispense Vanuatu business advice because you might not be aware of the business registration process in the country of Vanuatu. There are lots of things to think about such as opening the correct bank account and making sure that the business is properly registered.
How To Choose The Right Service
- Research different advisory services online.
- Ask business acquaintances who they used to help set up a Vanuatu-based business.
The company that you hire will make sure that everything is set up properly.
The Reasons Why fewer Restrictions In Vanuatu Will Benefit Your Company
There are several reasons why fewer restrictions will benefit your business.
Not Paying Income Tax Will Help Your Business
1) Your business is not going to pay income tax whilst it is based in Vanuatu.
2) When your business is being set up, this fact about the lack of income tax is going to be made clear by your advisers.
3) This can help your profit margin to grow.
Your Employees Will Receive Their Full Paycheque Without Withholding Tax
1) In Australia, your employees would be subjected to withholding tax. This is money that is taken from their full pay as a tax to the government.
2) Workers in your Vanuatu company are not going to have to pay any withholding tax whatsoever. This means that they are going to be personally better off. As a result, they will probably be happier and more motivated than if they were working in Australia. This will benefit your business.
3) The withholding tax exemption is going to be explained in detailed when you have hired a knowledgeable adviser who understands the laws of business in Vanuatu.
You Will Not Have Capital Gains Tax With A Vanuatu Business
1) When you sell assets such as stocks and physical property, your Vanuatu business will not be subject to capital gains tax.
2) This is going to protect the profits that your company is making.
3) The absence of capital gains tax is going to be explained by your team of advisors.
Summary
It is easier for a business to thrive in Vanuatu than it is in Australia. There are fewer tax restrictions for employees and the companies that they work for. Use a specialist advisory service to make setting up the Vanuatu company a very straightforward process.
