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Ease of Doing Business in

Vanuatu

Vanuatu Download Profile (1717.2KB, 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:

81

DB 2016 Rank:

80

Change in Rank:

down1

DB 2017 DTF (% points):

65.63

DB 2016 DTF (% points):

65.63

Change in DTF (% points):

0.00

STANDARD PROPERTY TRANSFER
Property value VUV 15,559,954
City Port Vila
Indicator Vanuatu East Asia & Pacific OECD high income
Procedures (number) info_outline 4 5.4 4.7
Time (days) info_outline 58 74.4 22.4
Cost (% of property value) info_outline 7 4.5 4.2
Quality of the land administration index (0-30) info_outline 18.5 13.4 22.7
  • Measure of efficiency
    No. Procedure Time to Complete Associated Costs
    1

    Payment of stamp duty at the Vanuatu Financial Services Commission

    Agency: Vanuatu Financial Services Commission

    Transfer of a lease is done by mean of an instrument in the prescribed form. The seller, must provide warranty that there are no outstanding payment (such as the ren). The buyer should provide warranty that he/she will pay the rent and other obligations. After the agreement is executed by the parties, with no need to engage the services of a lawyer, the stamp duty must be paid. The stamp duty is paid at the Vanuatu Financial Services Commission. The Controller of Stamp Duties may take from one to 14 days to stamp the document. It depends on what type of lease documents are submitted to that Office. The Controller of Stamp Duty may require further details from the parties to assist that office to assess duty. In cases when a lease is transferred, before the parties may execute a transfer, the vendor (registered proprietor of the registered Lease) must have ready to hand to the purchaser a consent granted by the lessor (either the Government or custom owners as the case may be) agreeing to such transfer of the interests comprised in the lease. The stamp duties act establishes stamp duty at 2% of property value. The 2007 amendment reduced it from 5 to 2%.

    1-14 days 2% stamp duty on the value of the lease (stamp duty)
    * 2

    Check for encumbrances

    Agency: Department of Lands Records

    It is usually the buyer who will request that a search is done on the property. The checking is done before so that the discharge of mortgage can be done prior to the registration.

    1 day (simultaneous with Procedure 1) VT 1,000
    3

    Obtain Ministerial consent to transfer the lease

    Agency: Lands Department

    According to the law, it is mandatory to request the consent of the Minister of lands to transfer a property, if the property is located in an urban area. In practice, there is a sale agreement between the parties and there is no need to hire a lawyer, or a real estate agent. All relevant documents are provided at the land registry. The land department will verify that all taxes are paid. The State Law office will provide its legal advice on the documents to the Minister. The consent is picked up at the department of lands and surveys. Once consent is granted (and all encumbrances cleared – see following Procedure), ownership is transferred and payment to the seller is made.

    3 weeks VT 3375
    4

    Apply for and obtain registration of the deed of transfer at the Department of Lands Records

    Agency: Department of Lands Records

    When the consent to transfer is granted, the documents are filed at the Department of Lands Records where payment of the registration fees is made. The fee is established in the Land lease act. The amendment of 2004 increased it from 2 to 6% and the amendment of 2006 decreased it from 6 to 5%. The Department of Lands Records is computerized and this has significantly reduced the time it takes to process new requests. When a company is involved, the memorandum and articles of association as well as the certificate of incorporation must be provided at registration.

    30 days 5% registration fee on the value of the lease (registration fee)

    * Takes place simultaneously with previous procedure.

  • Measure of quality
    Answer Score
    Quality of the land administration index (0-30) 18.5
    Reliability of infrastructure index (0-8) 6.0
    What is the institution in charge of immovable property registration? Department of Lands Records
    In what format are the majority of title or deed records kept in the largest business city—in a paper format or in a computerized format (scanned or fully digital)? Computer/Scanned 1.0
    Is there an electronic database for checking for encumbrances (liens, mortgages, restrictions and the like)? Yes 1.0
    In what format are the majority of maps of land plots kept in the largest business city—in a paper format or in a computerized format (scanned or fully digital)? Computer/Scanned 1.0
    Is there an electronic database for recording boundaries, checking plans and providing cadastral information (geographic information system)? Yes 1.0
    Is the information recorded by the immovable property registration agency and the cadastral or mapping agency kept in a single database, in different but linked databases or in separate databases? Different databases but linked 1.0
    Do the immovable property registration agency and cadastral or mapping agency use the same identification number for properties? Yes 1.0
    Transparency of information index (0–6) 4.5
    Who is able to obtain information on land ownership at the agency in charge of immovable property registration in the largest business city? Anyone who pays the official fee 1.0
    Is the list of documents that are required to complete any type of property transaction made publicly available–and if so, how? Yes, online 0.5
    Link for online access: http://mol.gov.vu/index.php/en/land-survey-3/256-land-registration-checklis...
    Is the applicable fee schedule for any property transaction at the agency in charge of immovable property registration in the largest business city made publicly available–and if so, how? Yes, online 0.5
    Link for online access: http://mol.gov.vu/index.php/en/land-survey-3/255-registration-fees
    Does the agency in charge of immovable property registration commit to delivering a legally binding document that proves property ownership within a specific time frame–and if so, how does it communicate the service standard? No 0.0
    Link for online access:
    Is there a specific and separate mechanism for filing complaints about a problem that occurred at the agency in charge of immovable property registration? Yes 1.0
    Are there publicly available official statistics tracking the number of transactions at the immovable property registration agency? No 0.0
    Number of property transfers in the largest business city in 2015:
    Who is able to consult maps of land plots in the largest business city? Anyone who pays the official fee 0.5
    Is the applicable fee schedule for accessing maps of land plots made publicly available—and if so, how? Yes, online 0.5
    Link for online access: http://mol.gov.vu/attachments/article/264/Map%20Printing%20Fees.pdf
    Does the cadastral or mapping agency commit to delivering an updated map within a specific time frame—and if so, how does it communicate the service standard? No 0.0
    Link for online access:
    Is there a specific and separate mechanism for filing complaints about a problem that occurred at the cadastral or mapping agency? Yes 0.5
    Geographic coverage index (0–8) 4.0
    Are all privately held land plots in the economy formally registered at the immovable property registry? No 0.0
    Are all privately held land plots in the largest business city formally registered at the immovable property registry? No 0.0
    Are all privately held land plots in the economy mapped? Yes 2.0
    Are all privately held land plots in the largest business city mapped? Yes 2.0
    Land dispute resolution index (0–8) 4.0
    Does the law require that all property sale transactions be registered at the immovable property registry to make them opposable to third parties? Yes 1.5
    Is the system of immovable property registration subject to a state or private guarantee? Yes 0.5
    Is there a specific compensation mechanism to cover for losses incurred by parties who engaged in good faith in a property transaction based on erroneous information certified by the immovable property registry? No 0.0
    Does the legal system require a control of legality of the documents necessary for a property transaction (e.g., checking the compliance of contracts with requirements of the law)? Yes 0.5
    If yes, who is responsible for checking the legality of the documents? Registrar; Notary.
    Does the legal system require verification of the identity of the parties to a property transaction? Yes 0.5
    If yes, who is responsible for verifying the identity of the parties? Registrar; Notary.
    Is there a national database to verify the accuracy of identity documents? No 0.0
    For a standard land dispute between two local businesses over tenure rights of a property worth 50 times gross national income (GNI) per capita and located in the largest business city, what court would be in charge of the case in the first instance? Land Tribunal
    How long does it take on average to obtain a decision from the first-instance court for such a case (without appeal)? Between 2 and 3 years 1.0
    Are there any statistics on the number of land disputes in the first instance? No 0.0
    Number of land disputes in the largest business city in 2015:
    Equal access to property rights index (-2–0) 0.0
    Do unmarried men and unmarried women have equal ownership rights to property? Yes 0.0
    Do married men and married women have equal ownership rights to property? Yes 0.0