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Features of Samoa International Companies

FEATURES OF SAMOA INTERNATIONAL COMPANIES

BUSINESS TRANSACTIONS

  • ICs may engage in any lawful business and may carry on transactions in whatever currencies they choose.


TAXATION

  • Full exemption from taxation for any business activity or transaction carried out outside Samoa.


AUTHORISED CAPITAL / SHARES

  • Nominative or bearer shares at owner’s option.
  • Mortgages and charges on shares are optional and can be registered if desired.
  • No paid-in capital is required.
  • No minimum or maximum capital requirements.

DIRECTORS, OFFICERS AND SHAREHOLDERS

  • Shareholders, directors and/or officers can be either corporate entities or natural persons.
  • There is no requirement to register initial or ongoing changes in directors and/or officers.
  • The directors may grant special or general powers of attorney.
  • Register of Director(s) is optional and may be kept anywhere in the world.
  • Companies are allowed to have a sole director.
  • Neither the directors nor the officers need be shareholders.
  • Only one subscriber required, thereafter at least one shareholder is required.
  • Shareholders, directors and officers may be of any nationality and may be resident of any country.
  • Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or by any electronic means (phone, fax, etc).
  • The appointment of, at least, one secretary is mandatory.

ANNUAL FILING

  • No requirement to file annual returns or profit tax.

INCORPORATION AND ADMINISTRATION

  • Excellent availability of company names for incorporation.
  • Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation) because Samoa’s legal system has its foundations in English and Commonwealth statutory law.
  • The words “Limited? “Corporation? “Incorporated? “Berhad? “Sociét?Anonyme? “Sociedad Anónima? “Naamloze Vennootschap? “Besloten Vennootschap?or “Aktiengesellschaft? or the abbreviations “Ltd.? “Corp.? “Inc.? “Bhd? “S.A.? “N.V.? “B.V.?or “A.G.?may be used in a company’s name.
  • Incorporation documents may be drafted in Spanish or any other language together with an English translation.
  • Company names can be incorporated in Chinese characters and other accepted language forms (together with an English translation). Certificates of Incorporation in English with Chinese characters are currently being issued.
  • Speedy incorporation procedures and simple ongoing administration.
  • Incorporation procedure takes from 2 to 3 days.
  • Certificate of Incorporation in 24 hours.
  • The Samoa Registry is equipped with modern sophisticated computer equipment, which heightens speed and efficiency in the processing of documents in a timely manner.
  • Relatively simple ongoing administration if activities of the company are not complicated and take place outside of Samoa.
  • Shelf companies available.

RECORD KEEPING

  • The accounting books, records and minutes of the company may be kept in any place or country at the directors?choice.
  • No requirement to keep or file annual accounts.


REGISTERED OFFICE, CORPORATE SEAL AND LEGALISATION

  • Registered Office in Samoa is required.
  • Corporate seal is optional.
  • Use of Apostille should documentation need to be legalised. Legalisation via a Consulate is also available for some countries.


COSTS AND FEES

  • Reasonable formation and maintenance costs and fees (Registration and annual licence fee of USD100 irrespective of the share capital).


REDOMICILIATION

  • Foreign companies can be speedily redomiciled to Samoa.


USES OF SAMOA INTERNATIONAL COMPANIES (ICs)

  • Holder of bank accounts, fixed deposits, investment plans and any other financial or commercial title.
  • Owner of the shares of other companies or legal entities.
  • Owner of apartments, houses, buildings, vessels and any other movable or immovable property or goods.
  • Manager and promoter of international business transactions.
  • International leasing of vehicles, machinery, vessels and others.
  • Borrowing or lending money, paying or receiving commissions, royalties or others.
  • Marketing and promotion of products and services.
  • Other commercial and financial activities.

HIGHLIGHTS OF SAMOA


  • Excellent corporation law.
  • Flexible company law.
  • No taxes levied on offshore and banking transactions.
  • No exchange control regulations.
  • Political and economic stability
  • Excellent hotel accommodation.
  • Excellent worldwide communication facilities.
  • Skilled personnel.
  • No capital gains, income or any other kind of tax.

SOCIAL AND ECONOMIC INDICATORS


  • Location: Southern Pacific Ocean equidistant between Honolulu and Sydney and immediately east of the International Date Line.
  • Area: 2,934 square kilometers, which comprises two large islands and seven small isles.
  • Population: 200,000 (2014 est.)
  • Climate: Tropical
  • Official Language: English and Samoan.
  • Government: Parliamentary
  • Living Standard: Comfortable
  • Banking: Worldwide banking facilities available
  • Legal Tender: Samoa Tala
  • Industry: Food processing, building materials and auto parts.


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