If you are considering investing in real estate in Vanuatu, then you will be entering a world characterized by its laid back lifestyle, its happy and friendly people and its wonderful weather.
Investment holiday homes in Vanuatu are very popular with expats and business people, and as working in Vanuatu is becoming known for its seriously good side benefits, waterfront real estate in Vanuatu is also starting to move.
The majority of commercial businesses are located in Port Vila with financial services and banking being the main industry. There are of course many opportunities for the astute businessman throughout Vanuatu. If you are looking for Vanuatu business for sale, it wouldn’t be a problem. Check out below the benefits of having a business in Vanuatu:
So what are the benefits and challenges to doing business in Vanuatu?
3 benefits of business in Vanuatu
- Awesome tax laws: In Vanuatu there is no personal income tax, no corporate tax and no capital gains tax. This makes Vanuatu a very serious opportunity for entrepreneurs and business people who are looking for a base of operations, which offers few financial restrictions. The only tax they do have is a 15% VAT on goods and services, which without any other taxes is not a hindrance to businesses in Vanuatu.
- Investors are encouraged: With the introduction of the Strata Titles Act in 2005, the Vanuatu Government now actively supports foreign investment in their country. This means that owning that waterfront real estate in Vanuatu you have always dreamt of – is much close to reality than you might have thought. It also means that entrepreneurs can take advantage of houses for sale in Vanuatu and increase their investment portfolio.
- An expanding economy: Over the past ten years, Vanuatu’s economy has outperformed many others in the region. This is due to the many structural reforms that have taken place in Vanuatu, making it much easier for foreign investors to do business in Vanuatu. With an economy based on tourism, agriculture and offshore financial services, Vanuatu offers international businesses a firm foundation for continued growth.
3 challenges of business in Vanuatu
- Three languages: If you intend to do business in Vanuatu, then you need to realise that they speak English, French and Bislama (Pigeon English). Whilst you can certainly get by and conduct business in English, if you want to conduct business with the ni-Vanuatu people, it is only right that you learn a few phrases of their language.
- Island time: Vanuatu works on Island Time, which means that they are relaxed, take a 2 hour lunchtime siesta and don’t worry too much about schedules. So if you want to do business in Vanuatu, then you need to take a more casual approach to business, with an emphasis on being laidback, whilst still keeping one eye on your objectives.
- Geography: The 82 islands of Vanuatu are spread over a large area, with more than 30 airports, two major ports and a lack of well-maintained roads. Transporting goods throughout the islands can be testing and can take more time than anticipated. There is also the issue of natural disasters, such as earthquakes and tsunamis, which are not unheard of in this region.