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Ease of Doing Business in

Vanuatu

Vanuatu Download Profile (1719KB, pdf)
Region East Asia & Pacific
Income Category Lower middle income
Population 264,652
GNI Per Capita (US$) 2,873
City covered Port Vila

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 83 88 up
5
63.66 61.45 down
2.21
Starting a Business 126 147 up
21
81.24 75.51 up
5.73
Dealing with Construction Permits 134 135 up
1
61.91 61.57 up
0.34
Getting Electricity 81 75 down
6
72.00 71.80 up
0.20
Registering Property 81 80 down
1
65.63 65.63
-
Getting Credit 20 29 up
9
75.00 70.00 up
5.00
Protecting Minority Investors 106 129 up
23
50.00 43.33 up
6.67
Paying Taxes 54 51 down
3
80.60 80.60
-
Trading across Borders 145 145
-
56.27 56.27
-
Enforcing Contracts 130 128 down
2
51.13 51.13
-
Resolving Insolvency 93 111 up
18
42.85 38.63 up
4.22

Positive=Doing Business reform making it easier to do business. Negative=Change making it more difficult to do business.

DB 2017 Rank: 126

DB 2016 Rank: 147

Change in Rank: up21

DB 2017 DTF (% points): 81.24

DB 2016 DTF (% points): 75.51

Change in DTF (% points): up5.73

Standardized Company
Legal form: Private Limited Liability Company
Paid-in minimum capital requirement: VUV 0
City: Port Vila
Indicator Vanuatu East Asia & Pacific OECD high income
Procedure – Men (number) info_outline 7.0 7.0 4.8
Time – Men (days) info_outline 18.0 23.9 8.3
Cost – Men (% of income per capita) info_outline 44.3 19.0 3.1
Procedure – Women (number) info_outline 7.0 7.1 4.8
Time – Women (days) info_outline 18.0 23.9 8.3
Cost – Women (% of income per capita) info_outline 44.3 19.0 3.1
Paid-in min. capital (% of income per capita) info_outline 0.0 12.3 9.2
  • No. Procedure Time to Complete Associated Costs
    1

    Check the uniqueness of the company name

    Agency: Vanuatu Financial Services Commission

    This service is not automated and cannot be completed on the spot. A form must be completed and faxed to the VFSC – this form is usually available at the lawyer’s office or can be downloaded from http://www.vfsc.vu/steps.html. At least three alternatives must be provided and the VFSC will return the form providing information on their availability. There is no charge for this service and it takes only 1 day to complete this process.

    In addition to checking the name (as recorded by the Starting a business indicator), it is possible to reserve the name, which costs VUV 2,000. Reserving the name is a good practice but not required and not done systematically.
    1 day no charge
    2

    Apply for incorporation at the VFSCU

    Agency: Vanuatu Financial Services Commission

    Pursuant to Official Gazette No. 75 of 2015 (dated 31 August 2015), it is now possible to register a company online. A company can conduct all steps online, and also has the option to choose model rules, to avoid having to use legal services to draft their own rules. The application is filled out online, and reviewed by officers online. Fees can be paid through an online payment processing system. The certificate of incorporation is delivered by email on confirmation of incorporation. However, most applications for incorporation are filed in person. Online applications cost VUR 30,000 and in person, 35,000
    4 days VUV 35,000 for in person filing and VUV 30,000 for online applications.
    3

    Apply for a business license from the Department of Customs and Inland Revenue services

    Agency: Department of Customs and Inland Revenue Services

    An incorporated company is not entitled to begin operating until it has obtained a business license from the Department of Customs and Inland Revenue Services. It may take 2–3 weeks to obtain such a license.

    Business license certificates are issued by the Rates and Taxes Authority. The fee varies by type and size of business, as shown below for 2006.

    Fee schedule:
    • < VUV 4million(annual turnover): No charge
    • > VUV 4 Million to 10 Million (annual turnover): VUV 20 thousand (fee)
    • > VUV 10 Million to 20 Million (annual turnover): VUV 50 thousand (fee)
    • > VUV 20 Million to 50 Million (annual turnover): VUV100 thousand (fee)
    • > VUV 50 Million to 100 Million (annual turnover): VUV 250 thousand (fee)
    • > VUV 100 Million to 200 Million (annual turnover): VUV 500 thousand (fee)
    • > VUV 200 Million />(annual turnover): VUV 1 Million(fee)
    1 day VUV 20,000 to 1,000,000 (VUV 100,000 in case of a turnover between VUV 20,000,000 and VUV 30,000,000).
    * 4

    Register with the VAT office

    Agency: Department of Customs and Inland Revenue Services

    A company must register with the value added tax (VAT) office if it anticipates turnover of at least VUV 4 million per year.
    3 days, simultaneous with procedure 4 no charge
    5

    Register as an employer with the National Provident Fund

    Agency: National Provident Fund

    All employees from the age of 14 – 55 must join the fund. 50% of the monthly contribution (understand gross salary) is paid by the employer and 50% by the employee. This is for the retirement benefits of the employees. Under the law, an employer must register with this fund 7 days after incorporation of the business (or 7 days as soon as the first employee is recruited).

    Payment of contribution is made directly at the National Provident Fund.
    1 week no charge
    * 6

    Enroll employees in the work accident insurance

    Agency: Any insurance fund

    All employers are required to insure their employees against workplace accidents.
    3 days, simultaneous with previous procedure no charge
    7

    Make a company seal

    Agency: Sealmaker

     By law, a company must have a seal – a mean to authenticate its documents
    3 days VUV 3,000

    * Takes place simultaneously with previous procedure.