About Samoa
Samoa comprises two large islands and seven smaller isles. It is situated in the centre of the Southern Pacific Ocean, approximately equidistant between Honolulu and Sydney, Australia.
Samoa has an excellent international telecommunications system with telex, facsimile and international direct dial facilities via satellite. The region has embarked on drastic structural reforms, with the government heavily encouraging diversification of industry. Recent policies have led to enhanced growth in new manufacturing enterprises and offshore financial services.
The Samoan International Financial Services Authority (SIFA) regulates the Samoan offshore sector and offers two main offshore formation products: an International Company (IC) and a Limited Life Company (LLC), both of which offer global businesses superb offshore products in a highly supportive jurisdiction.
The Samoan government has enticed international investors by modernizing its legislation and streamlining the company formation process.
Benefits of Setting up an Offshore Business in Samoa
- Samoa has no double taxation agreements with any country
- Samoa has full political, economic and social stability
- Samoa is not blacklisted by any international organizations list
- The jurisdiction has strict asset protection legislation barring all foreign government court orders
- There are no annual reporting, accounting or any financial auditing requirements for any offshore businesses
- There are no taxes for any Samoan international offshore companies
- Confidentiality legislation ensures privacy and criminalizes divulging of any client information
- Advanced English Common Law legal system
- English is used in all business and legal settings
- The islands of Samoa are tropical paradise with a warm temperate climate
- The Samoan government is very supportive of its offshore finance sector
- Confidential and secure offshore legislation
- Samoa has no currency exchange controls. All currencies may be traded freely
Key Corporate Features
| General | |
| Type of Company | IC |
| Type of Law | Common |
| Shelf company availability | Yes |
| Time to establish a new company | 5 days |
| Corporate Taxation | Nil |
| Double Taxation Treaty Access | No |
| Share capital or equivalent | |
| Standard currency | US$ |
| Permitted currencies | Any |
| Minimum paid up | US$1 |
| Usual authorised | US$1,000,000 |
| Directors | |
| Minimum number | One |
| Local required | No |
| Publicly accessible records | No |
| Location of meetings | Anywhere |
| Shareholders | |
| Minimum number | One |
| Publicly accessible records | Optional |
| Location of meetings | Anywhere |
| Company Secretary | |
| Required | Yes |
| Local or qualified | Yes |
| Accounts | |
| Requirements to prepare | Yes |
| Audit requirements | No |
| Requirements to file accounts | No |
| Publicly accessible accounts | No |
| Recurring Government Costs | |
| Minimum Annual Tax / Licence Fee | US$300 |
| Other | |
| Requirement to file annual return | No |
| Change in domicile permitted | Yes |
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