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Vanuatu is a Y-shaped archipelago of 83 islands nestled neatly into the western south pacific. The country is only a couple of hours flying time from the main east coast ports in Australia and is serviced by its own airline, Air Vanuatu. The capital of Port Vila is located on the main island of Efate, while the other major population center is located at Luganville on the island of Espiritu Santo. Efate Island is surrounded by rugged sandy cosastline with an interior of verdant rainforest cut only by a few walking tracks. Havannah Harbour on the northern side was used as a naval base by the entire U.S.A.'s 7th fleet because of its natural haven characterisics and it's deep water.
The total population is in the vicinity of 200,000 and are of a Melanesian race and culture.
The group was formerly known as the New Hebrides, under a shared condominium controlled by both the French and English from 1906 until it gained independence in 1980. The country now operates as a self-governing republic with a westminster style of political system and is still a member of the Commonwealth.
The islands are very diverse in both culture and economy. Tourism plays a very important part in the local economy and is the major employer of the indigenous people known as Ni-Vanuatu. They are enthusiastic and are an asset to the industry due to their polite and friendly nature. The country is still very much dependant on the subsistence agricultural industries of copra and locally grown island style vegetables. Obviously, being an island nation, seafood is one the main staples and is regularly traded in the various markets throughout the country. Vanuatu is renowned for it's quality beef industry with exports mainly going to Japan. As it is organically produced, (none of the pastures are exposed to any chemicals) it makes it very desirable in a world that is looking to agricultural products that are unaffected by contaminants.
Most of Vanuatu's 60,000 tourists per year come from either Australia or New Zealand, but as the 2 main airports at Port Vila and Luganville have just been upgraded to take 767 and 737 planes respectively, the Airport Authority and the National Tourism Office is looking to expand into the more lucrative destinations of Asia, Europe and the USA. All levels of accommodation are catered for, from the backpacker styles to the many 3 and 4 star luxury and family types. In the outer islands there are many traditional and eco style bungalow accommodation for the many people who explore these wonderful areas. The land-diving at Pentecost Island, the active volcano on the southern island of Tanna and the pristine white beaches of Champagne Beach on the Island of Santo are a few of the many spectacular sights available to visitors to Vanuatu. There is a wonderful mixture of continental and local cuisine available to visitors with over 30 restaurants in Port Vila alone. The major resorts also boast excellent business and conference facilities.
"I wish I could tell you about the South Pacific." wrote James A Michener. "The way it actually was. The endless ocean. The infinite specks of coral we call islands. Coconut palms nodding gracefully towards the ocean. Reefs upon which waves broke into spray and inner lagoons, lovely beyond description. I wish I could tell you all about the sweating jungle, the full moon rising behind the volcanoes, and the waiting."
This excerpt from James A. Michener's immortal Tales of the South Pacific tell of the magic and the idyllic scenery that abounded in the New Hebrides. The mystery, the beauty and the Melanesian pace of life still remain today.
BUSINESS VANUATU
Vanuatu is a tax haven and has a well developed Offshore Finance Center. As such, there are no income taxes, withholding taxes, capital gains taxes, gift, death, estate or succession duties applying to companies, trusts or individuals. There are also no tax treaties with other countries and thus no exchange of information with foreign governments.
The Offshore Finance Center has been operating since 1971, when the then New Hebrides Government leglislated to become a formal tax haven. The center now has over 4,000 international companies registered and is a major income earner for the Vanuatu Government. The overall supervising body, which regulates the industry, is the Financial Services Commission and also acts as a registrar of companies. The Commission also ensures proper controls to avoid any illegal or unlawful activities so often associated with other lesser tax havens, which may be accused of laundering criminal proceeds.
Vanuatu's other major industries of tourism and agricultural products also contribute heavily as earners to the Government. There is an interesting mix of people in Vanuatu, which creates a multicultural feel to the Islands.
Because of it's tax haven status, Vanuatu allows a number of excellent opportunities for investment. Real estate prices, while reasonable, allow a very good rate of return. The Country has a number of excellent financial and legal institutions and banks that are more than ready to offer advice as to how best gain a better return on investments. The introduction of Strata Title legislation and an excellent Land Title Act present even greater advantages to investment in this tropical paradise.
Vanuatu's infrastructure and communications are well developed, keeping up with progress throughout the rest of the Pacific and the world. In the area of communication, Vanuatu has been quick to establish a modern network, which is privatised. The introduction of a GSM telephone exchange and the latest technology for handling internet and email mean that doing business in Vanuatu is as easy as any other developed country in the world. Telecom Vanuatu are quick and efficient to deal with, and will assist with any communication enquiry.
Telephone: (678) 23943/25247 Fax: (678) 26389 Email:
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