If you are doing business in Vanuatu, you need to obtain assistance from a chartered accounting firm to make sure that you receive the full benefits of its services. Whether your business is small or is a large worldwide organisation, you need to take advantage of the wide range of services that a professional accountancy firm can provide.
For instance, an accountancy firm such as Barrett and Partners in Vanuatu provides the following services:
- Accounting and auditing
- Licencing and permits
- Strata title services
- Trust services
You will want to take advantage of this type of firm’s audit expertise as well. Auditing services include the following:
- The planning, management, and review of the audit process
- A risk analysis
- The performance of a stringent analytical review and management assessment
- Management reporting
- An audit methodology that is customised to the industry and the client’s size
When you count on accountancy services, you can also take advantage of today’s software technologies. Firms of this type are designed to manage the facilitation of popular accounting systems. Installation, training, and ongoing support are provided for cloud-based software programmes. Part of a software implementation also includes a system’s analysis. Using today’s software programmes enables professional accountants to stay on top of the review process.
Besides auditing services, a full-service accountancy firm offers a full array of business valuation services too. Business recovery is available as well. In addition, you can take advantage of incorporation services. For example, international company incorporation is available as is local company incorporation.
An international company incorporation is suggested for companies that wish to have their business registered in Vanuatu but do not intend to do business in the island nation. The process for incorporation goes relatively fast and can usually be finalised within 48 hours.
Local companies can conduct business activities within and outside of Vanuatu. Just as with an international company, the incorporation process takes about 48 hours. This can easily be accomplished after an application is completed and submitted with the VFSC or the Vanuatu Financial Services Commission. If you are a local company, you only need to retain one non-residential or residential shareholder to act as the director. A trust can also be established to serve as the beneficial owner of a company. A certain amount of confidentiality can be realised when a trust is included in a company’s structure. For example, a trust is typically used to hold company shares in a company’s name.
If you wish to purchase a business in Vanuatu, you will need to establish a business plan and submit an application. On the application, you will need to provide the details of the planned structure of the business: partnership, sole proprietorship, or local company. Working with an accountancy firm will enable you to establish your business successfully.