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Registering a company in Samoa in 2020
Key benefits of doing business in this jurisdiction:
- A stable economy;
- A political and social stability;
- A meeting of directors and shareholders can be held anywhere in the world;
- No requirements for maintaining and filing a financial report;
- Samoa has signed a tax information exchange agreement with Australia, New Zealand and several European countries.
A cost of registering a business is from € 1859
A company registration period is from 14 daysDetailed information
An autonomous state of Samoa, commonly known as Samoa, is located between New Zealand and Hawaii, surrounded by the waters of the South Pacific. Samoa includes two main islands Savay, Upolu, and seven smaller islands. It is an attractive jurisdiction, that can be attractive in order to open an offshore company in Samoa, because the state has a complete political, the economic/social stability.
The important point is that if you decide to register a firm in Samoa, then a recommended share capital should be equal to the amount of $1,000,000 (no capital is required to be paid).
In connection with the law (1987), all activities of offshore companies are regulated by the International Companies Act. In order to register a firm in Samoa, you must have at least one founder. This founder can act as both a director and a shareholder.
- International Trust;
- International insurance company;
- International Unit Investment Fund;
- International Special Purpose Company.
A meeting of directors and shareholders can be held anywhere in the world. For non-resident enterprises, whose activities take place in the territory of this jurisdiction, income tax is 27%. Samoa also exchanges tax information with several countries in Europe, Australia, New Zealand (according to agreements concluded between these jurisdictions, which mainly relate to criminal matters). The implementation of these agreements by enterprises is governed by the Tax Information Exchange Act (2012). Having decided to start an entrepreneurship in Samoa, you need to obtain a business license in Samoa, which is updated annually. Annual reports are required for registered foreign companies, copies of financial statements are not required to be submitted to the Samoa Companies Register.
If you decide to start business in an island nation, you must first register a company in Samoa with the Ministry of Trade and Labor.
If you decide to open an enterprise in Samoa, competent IQ Decision lawyers will provide you with support services at any time convenient for you.
The information outlined in the article is actual at the time of its publication.
Please refer to our specialists for checking possible solutions for your business.
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