VANUATU - TAX HAVEN

This South Pacific tax haven Consists of 80 small islands situated 1,500 miles east and north-east of Australia and 800 miles west of Fiji.  Port Vila, the administrative center, is situated on Efate Island. See map The climate of the group ranges from tropical in the north to sub-tropical in the south. The average day temperature from November to March is 80°F, and from April to October, 75°F. Average rainfall is about 95 inches pa. 

The Government's objective has been to achieve a steady rate of growth in the three major industries, agriculture, tourism and finance. The Government is receptive to ideas for creating employment and expanding the economic base of the islands. 

The Foreign Investment Act became effective in August 1998. This Act establishes a Foreign Investment Board to expeditiously facilitate, promote and foster foreign investment in Vanuatu. Once an investor is issued with an Approval Certificate under this Act, the other approvals that are required in Vanuatu (such as residence permits, work permits and business licenses) become largely automatic. This system, while still in the early stages of implementation, should be a considerable improvement over the old system. The Act also defined certain investments and occupations as reserved for Vanuatu citizens. The islands generally have full subsistence employment. Skills are being developed by a major effort in education. 

 PRIVACY