Samoa is a group of populated islands, 4 in all, and 6 desert islets that form a sovereign state in the southern region of the Pacific Ocean. Samoa makes up the western part of the archipelago of the same name, the eastern part depending on the United States. On a total area of around 3000 km², there are around 190 inhabitants. The city of Apia is the state capital.
Samoan remains the official language in Samoa. It is spoken by most of the population. Samoan remains practiced, moreover in other Polynesian states. Finally, relations with the United States have made English also considered an official language in Samoa.
Agriculture occupies an important place in the Samoan economy, employing more than 60% of the population. Industry and tourism are the other sources of government revenue. Samoa has many countries as trading partners: New Zealand, Australia, the United States, American Samoa and Japan.
The strategic position of the state in the Pacific and its relations with the United States constitute a major asset in the setting up a company in Samoa.
Taxation in the Samoan territory
The Samoan tax system can be considered attractive to those who wish to create a society in Samoa. In other words, the current taxation provides for several provisions favoring the entrepreneurial field.
First, the tax system does not provide for corporate income taxes and the rate of VAT is 12,5% in Samoa. In other words, all profits remain in the company's assets. Second, there is no income tax in Samoa. And finally, Samoan tax law does not tax on wealth.
Why start a company in Samoa?
The tax system in Samoa is one of the reasons for investors' creation of companies. In concrete terms, the absence of certain taxes contributes significantly to increasing the assets of the company. In addition, there are other reasons for moving to Samoa for outsourcing.
It should be noted that legislation has helped to facilitate the business creation. Indeed, when setting up the company, no minimum capital is required. Legal persons or natural persons may take the status of company director or shareholder. These officers can, if they wish, accumulate the role of leader with the shareholder status. They also have the possibility to reside or not in Samoa.
Moreover, no regulation limits transactions. In addition, all exchanges of a company outside Samoa are exempt. The use of currencies is also not restricted.
Then the political and social environment remains favorable to investments. Indeed, the country is reputed to be a stable country. Its workforce is all the more qualified and more accessible in terms of cost.
Finally, it must be emphasized that Samoa, in the heart of the Pacific Ocean, remains an ideal jurisdiction for Company. Indeed, Samoa is a gateway to both Oceania (New Zealand, Australia), Japan and the United States.
The peculiarities of the societies created in Samoa
The procedures of setting up a company in Samoa follow specific provisions. They are created under the status of “International Business Company”. However, international extensions can be incorporated in the name of the company: SA, Ltd, Inc, AG, Corp,… subject to displaying the English translation. Company names can include Cyrillic or Chinese characters. It should also be mentioned that it takes an average of 48 to 72 hours to set up a company in Samoa.
When setting up a company in Samoa, calling a professional may be wise. It offers a wide range of services, and provides advice to entrepreneurs. Generally, a copy of an identity document and proof of address of one or more associates, is requested at the time of incorporation.
Our experts in business creation and management in Samoa are at your disposal from Monday to Friday from 9:00 a.m. to 19:00 p.m.
Included in the Virtual Office Formula in Samoa
Opening a Samoa bank account
Because of the flexibility of their tax system, Samoa can be considered as a favorable jurisdiction for activities. Its commercial relations with the United States and the proximity to Australia and New Zealand are also assets that distinguish them. What's more, many banks are competing with the Samoan banking sector, another advantage for entrepreneurs.
The peculiarities of the Samoan banking sector
There are several commercial banks in Samoa. Each offering different benefits, in order to attract investors. Banks on Samoan soil are banking institutions of countries trading with Samoa. In general, they are American and New Zealanders. Most banks in Samoa saw their capital increase sharply between 2010 and 2011, which implies a development of banking sector activity.
Why have a bank account in Samoa?
The contractor who intends to to create a society in Samoa must inevitably open a bank account. In Samoa, comptes bancaires are subject to banking secrecy. This discretion is a service that many countries do not offer. In addition, other services accompany the opening of a matters. An offshore bank account is a multi-currency account. In other words, it is possible to carry out transactions in the national currency of Samoa, the Tala, and in international currencies. Finally, it can be managed online and it gives the right to international cards for withdrawals or other transactions.
Opening a bank account in Samoa: the documents to provide
For theopening a bank account, the account holder may be absent. He must, however, send the bank certain documents concerning him. In practice, the creation of an offshore bank account requires: a copy of an identity document (usually the passport), a proof of address. The minimum deposit for opening depends on the partner bank.
Open a bank account for your business in Samoa
Society Accounting in Samoa
Fidulink offers its clients a business accounting service in Samoa, real daily support from an expert in French-speaking cost accounting in Samoa in Apia. Companies in Samoa are required to keep up-to-date accounts throughout their existence.
Accounting and Company Analysis in Samoa
Our firm offers its clients to keep their business accounts in Samoa up to date, with the advantage of having a French-speaking accountant at your disposal from Monday to Friday from 9:00 am to 17:00 pm.
A daily accounting service for your business in Samoa
Because we know well that it is important to have a business accounting followed on a daily basis our accounting department offers a complete formula of company accounting in Samoa for companies of all sizes and all activities.
Tax exemption & Corporate tax optimization in Samoa
Fidulink offers a complete business tax exemption service in Samoa as well as a complete tax optimization formula for the entrepreneur and business based in Samoa.
Accounting service for your business in Samoa