Vanuatu - AJC Vanuatu

Vanuatu

Vanuatu

Vanuatu is an independent Republic situated in the South Pacific. It is made up of an archipelago of more than 80 islands which was once a French and British condominium until its independence in 1980. It was at that time called the New Hebrides. As a result, the official languages are French, English and Bislamar (national language). It is a tropical paradise with a small population (250 000 inhabitants) whose capital is Port-Vila. Located on Efate Island (50 000 inhabitants), Port-Vila is the political and economic centre of Vanuatu. Only the two Islands of Espiritu Santo and Efate possess dynamic urban centres which are open to the economic and financial world. The principal sources of income in Vanuatu are tourism and agriculture.Vanuatu is also a haven because there are no personnal and no corporate income taxes, there are no capital gains taxes and there are no estate or death duties. There is however a Value Added Tax (VAT) at the rate of 12,5 % which is applicable on goods and services and significant customs taxes as well as a particular real estate system. Vanuatu is judicially equipped to facilitate the offshore installation of every type of business.

Vanuatu has become a financial centre no one wants to ignore. Port-Vila’s banking network offers the regular services of a commercial banking system.Its currency (Vatu) is based on a basket of currencies which guarantees a very good stability.

Currently and approximately 1 000 vatus = 1 000 XPF = 8.50 EUR= 9.50 USD

Vanuatu can easily be reached by plane from the East Coast of Australia (3 hours), New Zealand (3 hours) and from New Caledonia and Fiji (1 hour), serviced by daily flights.