Company Incorporation Samoa
Samoa – Brief Description
Samoa is comprised of several islands situated approximately half way on a line drawn between Hawaii and New Zealand. The population of the islands is approximately 160,000. Originally ruled by Germany from 1889 to 1914, Samoa was subsequently administered by New Zealand until it became the first South Pacific country to gain independence in 1962.
As a country with numerous benefits for international businesses, Samoa has been attracting entrepreneurs worldwide to incorporate their Samoa offshore companies. Samoa is famous for foreign investors not only for its favorable tax regimes but also for its high protection of business assets and many other benefits.
Advantages of Samoa Company Incorporation
01. Friendly Business Tax Regimes
Offshore companies are not subject to tax in Samoa; hence, income derived from other jurisdictions will not be subject to any corporate tax in Samoa. Offshore company is likewise exempted from income tax, corporate tax, capital gains tax, inheritance tax, estate tax and stamp duty.
02. Absence of Exchange Control
The government of Samoa permits businesses to trade in any preferred currency without paying extra fees for trading with different currencies. Nonetheless, the official currency for all cross-border commercial operations is the United States Dollars.
03. High Level of Privacy and Confidentiality
The Samoa government does not require companies to publicize the names and personal information of shareholders, directors, and managers. It also allows companies to use nominees to sign and appear on public documents. Furthermore, Samoa's legislation has strict confidentiality and secrecy provisions, sanctioned by heavy penalties.
04. Minimal Reporting Requirements
Offshore companies in Samoa are not subject to annual reporting or auditing requirements. They are likewise not required to file their accounting records with the government. Nonetheless, safekeeping of accounting records is advisable.