If you are a business in Vanuatu, and want to avoid problems legally and financially, you need to rely on the business services of accountants and business advisors. Vanuatu is located in the South Pacific Ocean and comprises an 80 island chain. The capital of the nation is Harbourside Port Vila, which is located on the island of Efate.
Therefore, if you are conducting business in Vanuatu, it helps to know an accounting and business services firm to steer you in the right direction. Whether you need accounting services or require other assistance, you need to depend on an accountancy firm that can serve as a business advisor.
Performing Business Activities in Vanuatu
When you are performing business in Vanuatu, you can run into variety of challenges. These challenges may be related to starting your business, registering a property, obtaining credit, paying taxes, or trading across borders. The enforcement of contracts may also be addressed from time to time.
Increase Your Business Influence Online and Locally
When a company offers both accounting services and business advice, you want to rely on that company to realise your business objectives. By collaborating with a firm in this way, you can set reasonable milestones and increase your business influence online and locally.
Some of the Listed Services
Some of the services offered by accountants that also serve as business advisors include the following:
- Accounting and auditing services
- Corporate services
- Licencing and permits
- Strata title services
- Trust services
Because accounting is the language of business, you want to make sure the accounting services you use are comprehensive. For example, a firm, such as Barrett & Partners, highlights auditing services that apply the concepts used by larger accounting firms. By taking this approach, the firm can assist a client as follows:
- Properly plan, manage, and review processes for the audit
- Appropriately analyse risks
- Obtain a clear understanding of a client’s business operations
- Perform a rigorous review and evaluation of management functions
- Report the findings to management
The auditing methodology that is used is customised to a business and its size, thereby ensuring an efficient and reliable audit.
Along with accounting and auditing assistance, an accounting firm that offers corporate services also features local company and international company incorporations. Trusts are formed as well so shares in a company can be held in business names. Valuation services also reflect the needs of the individual clients.
Working With the VIPA as an Investor in Vanuatu
If you are an investor that wishes to set up a business or purchase a business in Vanuatu, the Foreign Investment Act provides the means to do so. The Act is meant to streamline the approval process for this type of investment. It also enables the VIPA, or Vanuatu Investment Promotion Authority, to act as a primary source for investors. Not only does the VIPA authorise proposals for investment, it also oversees the issuance of business licences and work and residency permits.
Work with an accounting and business advisory service to prepare a business plan. By taking this step, you can provide details and accountings that will help you succeed in your investment and business plans.