COMPANY REGISTRATION IN SUMOA


PNJLEGAL

Uploaded on May 6, 2020

Category Business

business in samoa business in samoa for sale doing business in samoa small business in samoa opening a business in samoa chinese business in samoa best business in samoa start a business in samoa business opportunities in samoa business ideas in samoa business in american samoa business activities in samoa are regulated by law starting a business in samoa business in summer business in summerville sc best business in summer best business in summer in india small business in summer best business in summer philippines best food business in summer best business in summer season setting up business in samoa start small business in samoa company register in samoa

Category Business

Comments

                     

COMPANY REGISTRATION IN SUMOA

COMPANY REGISTRATION IN SAMOA Samoa consists of a group of islands situated in the central part of the Pacific Ocean, in the midst of Polynesia. New Zealand is less than 3,000 km away, and Samoa and the Hawaiian Islands are separated by little more than 4000 km. Samoa consists of two main islands. INTRDUCTIO N There is predominantly indigenous population in Samoa; they are Polynesians, but it should be noted that the British people are also present. Samoa is characterized by tropical climate, good hotels, and beautiful beaches.  -Court of Appeal; - Supreme Court; - Other Courts. The legal system of Samoa is based on the basic principles of English common law system. The Central Bank of Samoa is fully responsible for monetary policy, manages the currency reserve, LEGAL governs the operation of commercial banks and supervises the activities of Samoa offshore SYSTE IN companies. The local monetary unit is the Samoan Tala. SAMOA Residents of Samoa, in contrast to persons related to offshore companies in Samoa, are subject to currency control by the state. Traditional economic orientation for the Pacific region is also characteristic of Samoa. This includes fishing, agriculture, as well as tourism. It is tourism that provides for up to 25% of Samoa's GDP. In order to stabilize the economy, the government is taking measures to develop the financial sector. HOW IS IT COST-EFFICIENT TO REGISTER A COMPANY IN SAMOA - Samoa is not included in the - Ensuring the OECD and FATF confidentiality of Political and social stability; black lists data on the owners (meaning that the of the business in jurisdiction has Samoa at the good reputation); legislative level; - Good relations - Quite affordable with economic and cost of registration financial centers of and acceptable other countries; amounts of annual payments - is exempt from paying taxes (with - can own real estate insignificant in the territory of WHAT CAN restrictions); Samoa; A COMPANY IN SUMOA - conduct activities which involve DO  carrying out interaction with - build versatile banking institutions business or insurance relationships with organizations residents of Samoa without obtaining state. corresponding licenses; FEATURES OF A REGISTERED COMPANY IN SUMOA It is possible to conduct any legitimate activity. Registration office and registration agent of the company have to be located in Samoa. The name of the company in Samoa should end with the such abbreviations as Ltd, Corp, Inc, NV, GmbH, SA. Legislation of Samoa has also special provisions stating that the official name of the company, its Charter and Memorandum of Association do not necessarily have to be compiled in English, but in any other language, including Chinese dialects. The proposed authorized capital is $ 1 000 000 (it is not required to pay the authorized capital). Bearer shares are not permitted. No-par value shares are inadmissible. Minimum number of shareholders for registration of offshore company in Samoa is one (natural person/legal entity). Minimum number of Directors for IC in Samoa is also one (natural or legal person). Nominee shareholders and directors are allowed. FEATURES Information regarding the beneficial owner and banking operations is not available to third parties, and it can only be disclosed in accordance with the decision of the local court. Meetings of shareholders and directors can be held anywhere in the world. The place of storage of the company's documents is selected by the participants of the company. It takes about two weeks to register offshore company in Samoa . Concerning protection of the company's assets, it should be noted that the state will not require the decision to strike off IC in the court due to the existence of any tax debts. The fact is that for the court in Samoa any tax can not be considered a debt. Therefore, in Samoa, any offshore structure will be reliably protected from interference by the tax authorities of other states and attempts to strike off the enterprise. In addition, legislation of Samoa provides for the possibility of transferring the company's assets to another person under "special circumstances". The prospective customers need to provide the following documents: Passport copies of beneficial DOCUMEN owner(s) and Director(s) TS REQUIRED  Bank reference letter certifying beneficial owner(s) have good standing Contact information with the physical address. Bottom of Form Each step of the registration process is outlined here: Company Details- You must provide various details of your company for the Samoa Register. COMPANY Company addresses- You must both a physical address and a postal address when incorporating a company. REGISTRATI Director details- Each company must have at least one director. There are ON some restrictions regarding who can be a director of a company. PROCESS Shares & shareholders- Each company must have at least one share and one shareholder. You need to record the full name and address of each shareholder. Review- Review your application details before proceeding to the final step. Payment- You must pay the application fee to complete your application.  Payment can be made at the MCIL office in either Apia or Savai’i. The international companies in Samoa are entitled to conduct business outside the country as well. Although there may be restrictions in certain sectors for IC’s such as trade or real estate. Income accrued offshore by an International company is not taxed that is it is tax TAXATION exempted. International companies in Samoa are often used as holding companies for investment holding, asset ASPECT IN protection and also for international trade. Dividends paid SUMOA are received by an International company are not subject to taxation. Capital gains are also not taxable. A capital gain tax is levied on the profits that the corporation or natural person realizes when the person sells a capital asset at a rate higher than the purchase price. The VAT rate in Samoa is 15% and there is no wealth tax charged. Also, there is no inheritance tax in Samoa THANK YOU !!