What are the objectives of having community companies in Vanuatu?
The new community company structure has been introduced to:
- provide communities with a simple and cheap way to incorporate and operate.
- provide clear obligations so the way the community company operates is well understood.
- protect the communities through regular reporting of activities to the community.
- give better certainty for third parties who want to do business with the community companies such as lenders, investors and other businesses.
- protect and grow the community assets for current and future members.