Effective 1 January 2016, VIPA will adjust its fee structure for foreign investors applications.
- Application for New Investment : 120,000 VT (previously 25,000 VT)
- Application for Renewal : 60,000 VT (previously 10,000 VT)
- Application for Variation : 60,000 VT (previously 10,000 VT)
The increase is deemed necessary to ensure that the operating costs incurred by VIPA are adequately covered.
Foreign-owned businesses in Vanuatu can therefore expect an increase in their annual fees.
Simultaneously, in a bid to boost investment, VIPA announced that it will no longer ask new investors to provide evidence of their 5 million VT (either savings, investments or property) as evidence that minimum capital requirements are met.
Additional regulatory changes are expected to take effect with the implementation of legislative changes in 2016. We will provide more details when theses changes are due to take place.