Eternity Law International — News — Company registration in Samoa

Company registration in Samoa

Published:
December 7, 2020

The small state of Samoa is located in the central Pacific Ocean of the Southern Hemisphere. It covers two large and several small islands. It has full legal independence based on English common and constitutional law.

Offshore activities are regulated by the International Business Companies Act, 1997. The economy is typical for the region: fishing and processing of fish, agriculture and tourism. The country’s government is intensively developing the financial zone.

Investors are attracted by the affordable company registration and acceptable annual tax payments.

Eternity Law International specialists have extensive positive experience in registering offshore companies in the international legal field in compliance with all requirements and norms of the law.

Types of Samoa companies

Non-residents can use the most advantageous form in the form of an international company to register their business on the territory of the islands.

Any type of entrepreneurial activity that is not prohibited by law is allowed. It is not allowed to conduct joint activities of the organization with citizens of the state. Resident companies do not have the right to administer foreign firms.

Benefits of doing business in Samoa

The state provides a wide list of favorable conditions for non-residents of the country, such as:

  • complete tax exemption under certain restrictions;
  • the company has the right to own real estate within the country;
  • to carry out commercial transactions with banks or insurance companies without obtaining additional licenses;
  • there is no obligation to maintain accounting records and submit annual reports on the company’s financial activities;
  • audit exemption;
  • exemption from payment of stamp duty;
  • all income received outside the state is tax-free;
  • complete confidentiality about the beneficiary;
  • there is no state currency control.

Investors will be able to receive a tax break after observing some following rules:

  • if they acquires a license for insurance and banking activities;
  • if they sell goods and provide services only to non-residents of the country;
  • if they do not buy real estate in the state, but only rent it.

According to the current legislation of Samoa, an offshore company must be registered on its territory without fail with an office.

Mandatory points

The islands are blacklisted by the FATF and the OECD, which creates favorable conditions for activities with good income, which is conducted outside the state. The zero tax rate works according to this scheme. To register a company, the following registration steps must be followed.

  1. The name must be unique according to the business register. It can be indicated in any language with obligatory translation into international languages ​​(English or Spanish). An integral part of the name must be one of the particles in the form of an abbreviation: Pty, BV, NV, LLC, PLC, A.G, Bhd, S.A.R.L, S.A, Corp, Inc, Ltd or their full decoding.
  2. Constituent documents are articles of association or memorandum of the company.
  3. The declared registered capital is $ 100,000, with exemption from mandatory payment and with no maximum or minimum limits.
  4. A director or founder can be either a legal entity or an individual.
  5. It is prohibited to issue bearer shares without a declared par value.
  6. The documentation can be stored in any convenient place.
  7. The meeting of the founders can be held anywhere in the world.
  8. The term of company registration is from 48 hours to two weeks.
  9. Third parties will be able to access information only after going through all the instances of the local court and having obtained a court permission for this.

The state has not signed a double taxation agreement with anyone. The firm’s assets are protected from any tax debts that can be collected by court order and required to close the company. For all Samoan vessels, the tax is not a debt obligation.

Since in the state a priori there is no legal concept of “taxes”, any offshore company is thoroughly protected from inspections by the fiscal authorities of other countries. There is a procedure for the transfer of offshore assets to another person in the event of “special circumstances”. There is no prohibition to purchase a ready-made company with an open office in the state.

Eternity Law International provides each client with qualified assistance in organizing a business in an offshore zone of any international jurisdiction. Our specialists will efficiently perform the company registration in Samoa.

Our official site provides complete information on the scope of opportunities and services. It is very easy and quick to contact the Eternity Law International consultants. All our coordinates are indicated in the “Contacts” section. There is a feedback and an online chat for communication with the manager.

You could be interested

API license in Belgium

In recent years, the financial sector in Belgium has been actively expanding and developing. The country attracts the attention of financial enterprises due to its diverse government support, the presence of leading European financial and regulatory authorities, its favorable geographical position as an EU financial center and the presence of a developed market. These factors...

Crypto License in Cyprus

This region is emerging as a major hub for e-currency commercial operations, thanks to its pioneering legislative scheme, low charges, and strong monetary facilitation. For organisations looking to enlarge their activity within the e-currency space, a crypto licence in Cyprus to obtain  from the CySEC is notable. While the process is thorough, the benefits of...

Terms for Obtaining a Forex Broker Licence in Montenegro

If you want to organize a Brokerage Company that will deal with Global Online Trading, Forex, Investment Portfolio management, research and financial analysis in the area of investment, Montenegro is the right destination for you. We will enable you to register your Brokerage Company under very favorable conditions, obtain a license to hold financial instruments...

Register money services business (MSB) or foreign money services business (FMSB)

Creating corporations in the field of financial courtesies is extremely profitable business. That is why more and more players are appearing in this market. Each of them seeks to occupy a certain niche. But before you start working and getting the appropriate permission, you need to decide on the place of enrollment. Many co-founders of...

Fintech business in Europe

In 2021, a startup was launched in Europe, in which investments exceeded ten billion dollars. To date, there are already three such projects in Europe. Experts say that frenzy of FinTech sphere has already swept entire continent and will manifest itself in more than one such large-scale project. Fintech business in Europe is an opportunity...

How to Establish a Cyprus-Based Forex Business?

The EU prohibits the operation of forex firms that are not subject to its regulation. However, many EU nations have a strident anti-market stance and impose high tax regimes, as well as raising the fees and restrictions for running a financial firm or acquiring a permit for a forex agency. Cyprus, however, has decided to...

Related posts

Forex Dealer License in Samoa

Legally-approved currency exchange providers are banking institutions, monetary means transferring firms and offices exchanging currencies being licensed by Central Bank to run this activity in this jurisdiction. Samoa foreign exchange dealer license gives official rights to provide these services to interested individual clients and commercial entities. Is Forex trading legal in Samoa? Forex trading in...

Registration of a company in Poland

Poland has been a favorable market for foreign businesspersons who appreciate the country’s openness, geographic location, and well-educated and highly skilled employment market.  Accordingly, company registration in Poland is an excellent option to discover many commercial opportunities and take advantage of both low labor costs and attractive corporate taxation rates. Below is a brief overview of the...

Registration of IT company in Poland

This country’s in top-list of EU states regarding size, level and scale of economic industry. Registration of IT company in Poland is fastest way to conquer EU markets and integrate into its commercial community. Poland completely supports IT startups in every accessible way, simplifying enterprise establishment and integrating procedures. IT company incorporation in Poland A...

Company registration in Poland

Poland is developing quite dynamically. It is a European country with EU membership and offers its residents and foreign visitors a high social level, a loyal fiscal system and a welcoming, friendly atmosphere. And this is not a complete list of the advantages of Poland as a jurisdiction for creating a business. You can register...

LTD company registration in the UK

Today, registering a company in the UK is the most suitable choice for working with international partners. Among the main benefits of the jurisdictions are following: Britain is not an offshore, so it is not included in the blacklist of other states; this country has a trustworthy reputation, which positively affects the image of the...

Registration of IT company

SELECTION OF JURISDICTION AND REGISTRATION OF IT COMPANY Registration of IT company initially begins with a choice of jurisdiction. It has long been known that the development of private enterprise is a complex process that requires perseverance, financial investment, professional knowledge and technical skills. One of the main obstacles that creates difficulties for the entrepreneur...

Discover our services

The international company Eternity Law International provides professional services in the field of international consulting, auditing services, legal and tax services.

Ready-made companies for sale

Companies with a bank account around the world

Banks for sale

Established Banks for sale

Ready-made licenses for sale

Forex, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Licensing

Forex licenses, cryptocurrencies, gambling, EMI, PSP, SVF, MSO, DLT

Offshore company registration

Expert advice on the acquisition of an offshore company

Open a bank account

Open bank accounts in more than 120 banks around the world
Fill the blank: