Vanuatu opens HK office for company registrations
July 18, 2011 Category Foreign investment, Weekly
The Pacific island nation of Vanuatu opened a trade office in Hong Kong to promote itself as an offshore incorporation destination for Chinese and Hong Kong firms. “It will only take half a day for a company to register [in Vanuatu] because things can be done in this office,” said Timothy Cheung, Chief Executive of Vanuatu International Companies, an agency that represents the island’s Trade Commission. “It will cost less than HKD4,000, cheaper than the going market rate.” Cheung also pointed out that the presence of a Chinese embassy in Vanuatu would make it easier for Chinese companies to have their documents legally authenticated. The island exempts offshore companies from taxes and retains a high degree of confidentiality on company disclosures, as the country’s law protects information such as the names of directors and the status of shareholders. Any registered entity that opens a company account at an international bank offering financial services, such as capital transfer and currency exchange, is also protected from inquiries by the government bodies of other nations. Vanuatu was hoping to attract up to 6,000 offshore registered companies from China by next year. The country has registered more than 40,000 foreign enterprises, mainly from Australia and New Zealand.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world