- Published by VFSC
- Friday, 11 March 2011 08:50
All persons [including partnerships and companies] that are now carrying on business under a business name must apply to register the business name with the Registrar of Business Names on or before 30 September each year.
FORM B-1 : Application to Reserve Business Name
FORM B-2 : Application to Register Business Name
The penalties for failing to make an application are:
- a fine of up to VT10,000 for each day after 30 September that the person carries on business under the name; and
- a penalty of VT1,000 for each month after 30 September that the person carries on business under the name subject to a minimum penalty of VT5,000.
An individual carries on business under a business name if he/she uses a name in his/her business that is in any way different to his/her own surname, with or without his/her forenames or initials. For example, Leiwia Toara would need to register the following business names:
- “Leiwia’s Store” or “Leiwia Toara’s Store”
- “Leiwia Toara’s Nakamal”
- “The Sunset Café”
A company registered under the Companies Act [CAP 191] must register any business name that differs from its full company name. For example a company called “The Golden Egg Café Limited” would need to register the following business names:
- “The Golden Egg”; and even
- “The Golden Egg Café” [because the word “Limited” has been omitted].
A company does not need to register its company name.
A partnership or group of persons must register every business name that does not consist of the names of the persons in the partnership or group.
In certain limited circumstances, where a person trades under more than one name, the Registrar may exempt him/her from registering the other name or names – but application for an exemption must be made to the Registrar.
The cost of business name registration is as follows:
| 1 | New registration | VT10,000 |
| 2 | Annual fee payable on or before 30 September each year thereafter | VT 5,000 |
There is an understanding between the Vanuatu Financial Services Commission and the Department of Customs and Inland Revenue [Rates and Tax Office] that any person applying for a business licence must first register his/her business name.
Any person in doubt should seek information from Ms. Lilianne Charley, Vanuatu Financial Services Commission, Bouganville Street, Port Vila.
Telephone: [678] 22247
Fax: [678] 22242
Email:
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All Application forms available on the Vanuatu Financial Services Commission’s Website.
Business Name Registration Steps
- Step 1
(same as entities as of nos. 1 – 3 above)
- Step 2
- Application form is filed.
- Registration fee of VT10,000 ( annually it is VT5,000)
- Passport extract may include only when the particular(s) is a foreign national for verification.
- Step 3
- Step 4
Certificate is sent out to the client. (The whole process of registration and approval is only dealt within the Commission)
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- Last Updated on Friday, 08 July 2011 14:59