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VFSC: Home »  Services »  Company »  Formation Steps
 
Steps in company formation
Published by VFSC
Friday, 11 March 2011 08:50

Steps in formation of different companies as required under their different Acts, the Companies Act [CAP. 191], the International Companies No. 32 of 1992 and the Business Names Act [CAP 211].

Relevant forms can be accessed from Forms library
 

Local Companies and Exempted Companies

  • Step 1

FORM A: Request For/Report on Name Availability

  • Step 2

Application for a permit is filed together with these following documents:

Passport extracts is needed for foreign national for verification purposes
passport

Incorporation Fees of VT30,000-250,000 is payable
vatus

The above fee depends entirely on the authorised share capital, the minimum if VT35,000,000 or less and it may increased to a maximum of VT250,000 if the authorised share capital is over VT300,000,000. However for exempted company, the minimum incorporation fee is VT50,000 based on the authorised share capital of VT50,000,000 or less and increased to a maximum of VT250,000 should the authorised share capital is more than VT300,000,000. The same fee is paid annually.

  • Step 3

Application is recommended for approval by the Registrar of Companies (i.e. Commissioner ) to the Attorney General and the Minister of Finance for the granted of the permit. (this is an application which according to the Registrar of Companies, all information in order).

  • Step 4

The application is granted and return from the Minister of Finance to the Vanuatu Financial Services Commission Certificate of incorporation is issued and signed by the Commissioner.

  • Step 5

Certificate is released together with a copy of the official receipt for the remittance.

 

Oversea Company

  • Step 1

FORM A: Request For/Report on Name Availability

  • Step 2

Application lodged in writing to the Minister of Finance, via the Commission, signed by a director and by the secretary of the oversea company and shall be accompanied by the following:-

(a) certified copy of the charter, statutes or memorandum and articles of association (if in any other language, apart from English, a certified translation is required); 
Application for a permit is filed together with these following documents:

(b) A list of directors and secretary of the company containing the particulars;

(c) the names and addresses of not less than two natural persons resident in Vanuatu who are to be the authorised agents of the company in Vanuatu and each of whom is authorised to accept on behalf of the company service of process and any notices or documents to be served on the company;
List of The Names And Addresses of Persons Resident In Vanuatu Authorise To Accept Service On Behalf of An Oversea Company

(d) a statement of the nature and place of business intended to be carried on in Vanuatu by the oversea company; 

(e) a copy of the latest financial statements of that parent company; 

(f) A copy of the passport extracts for any foreign nationals.
passport

(g) an incorporation fee of VT30,000 only.
vatus

Step 3, Step 4 & Step 5 refer the same process as of local/exempted companies above.

 

International Company

This is a 24 hours incorporation and the only document needed to be filed is the company’s constitutiontions signed by an incorporator. Attach to it is a covering letter with a fee of US$150.00. (Again the name is permitted by the Commission before the constitution is filed)

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    VFSC: Home »  Services »  Company »  Formation Steps