Incorporation Services For Off-Shore Company in Samoa
Samoa, which changed its name from Western Samoa in July 1997, is a group of nine islands situated in the South Pacific, east of the International Date Line. At various times, it has been administered by Britain, Germany and New Zealand, and English is the language of government and commerce. Samoa became independent in 1962 and retains a parliamentary form of government. Since independence, it has developed into a politically stable nation.
Law and Taxation
Samoa’s offshore corporate legislation was originally introduced in the late 1980s and was based on Cook Islands legislation. Following numerous enhancements, it is now more user-friendly and more suited to the requirements of the Asian market. Of particular note are the following:
- Chinese character names (and other foreign language names) are permitted on Certificates of Incorporation in addition to English names.
- Documents may be filed in any language with an English translation and a certified translation. We have developed Chinese language Memorandum and Articles of Association to make Samoan companies even more appealing to Chinese language jurisdictions.
- Companies may pay their licence fees for 5, 10 or 20 years in advance and substantial discounts are offered to companies that elect to take up this offer.
- In order to attract business from other jurisdictions, in August 1998 Samoa introduced new legislation that enables the easy, convenient and effective migration of companies. The government fee for redomiciliation is USD100. Samoa has also reduced the annual licence fees for these companies (irrespective of the company’s authorised capital) to a current rate of USD100.
- Provision has been made to allow the filing of documents and maintenance of accounts by electronic means.
Chinese character names are permitted and can be included in a company’s Certificate of Incorporation.
All companies need at least one director, one shareholder, and a secretary. Corporate directors are permitted. Bearer shares are no longer allowed.
All companies must have a registered office and a resident agent in Samoa, which must be a licensed trust company. There are requirements for Samoan companies to prepare Registers of Directors, Secretaries, and Members, and for these to be kept at the registered office. The Register of Members or a copy of the register must be created within six months of the date of incorporation. Shareholders may waive the requirements annual general meetings and audited accounts.
Any person who files an instrument or statement of charges with the Registrar must lodge a copy of the filed instrument or statement with the company’s registered office within seven days of it being filed or request that the Registrar gives notice of the lodgment of the instrument or statement to the registered office. Where the instrument or statement is not lodged with the Registrar, it shall, so far as any security on the company’s property or undertaking is conferred thereby, and without prejudice to any contract or obligations for repayment of the money secured by the charge, be voided against a liquidator and any creditor of the company.
Samoa’s infrastructure is sound and continually improving. A number of leading accounting firms have offices in Samoa and there are numerous law practices. At present, there are four retail banks in Samoa. Another important feature is the presence of a Chinese embassy, which is particularly helpful when legalising or apostilling documents required for transactions and business in mainland China.
Sage has a large stock of companies with English names and with dual English and Chinese names accompanied by English and Chinese Memorandum and Articles of Association, which are available for immediate purchase. We can incorporate a company with your choice of name and can confirm the availability of names in advance. All companies are provided with a complete company kit, including share certificates, four copies of the Memorandum and Articles of Association, statutory registers, a common seal, a company chop, and a Certificate of Guarantee of Quality. In addition, Sage can assist you in obtaining Certificates of Good Standing and other certificates of corporate existence as well as relevant post-incorporation services.
Expand your business globally through offshore company incorporation services in Samoa
Samoa has become a hot location for investors and businessmen. It is primarily due to the government’s various conscious efforts to promote foreign investment. One of these efforts is setting up free trade zones or free economic zones. They much lesser restrictions, which provides ease of setting up
If you are looking forward to offshore company incorporation services in Samoa, you are at the right place.
What is an offshore company?
An offshore company is also known as the non-resident company. It can be owned either by individuals or corporate bodies. Typically, it is a business entity which does not carry business operations in the country of origin. Although an offshore company cannot own office in Samoa, it is primarily used for reducing tax payment, legally, and enhancing one’s wealth.
What activities can be carried out?
Following are the activities that can be legally carried out by an offshore company:
- Consulting services
- Advisory services
- General trading activities
- Buying, holding and selling shares of companies
- Commission agents
- Owning property
- Ship management
- Investments and joint investments
- International and professional services
Why opt for an offshore company?
Offshore companies have gained the limelight in Samoa due to the various benefits it offers to the companies. Therefore, a few reasons to opt for offshore company incorporation services in Samoa
- Minimum taxation: The primary benefit that a businessman enjoys with offshore company incorporation in Samoa is the minimization of tax. The business structures are formed in a way that it leads to a reduction in the overall tax liability.
- Anonymity: Another striking feature of the offshore company is the ability to keep the name of the underlying principle anonymous. It is possible to leave out the name from the documentation by setting up an offshore company.
- Multiple investors: Under very few circumstances, multiple investors are allowed to own property. In Samoa, shareholders can have ownership of the company’s property.
- Economic stability: The market of offshore locations if favorable and provides economic stability to the business. It provides adept banking system, advanced telecommunication infrastructure, and flexible legislative framework, along with a smooth set-up process.
- International trade: With business set up in Samoa, a company can also indulge in international trade, along with investment operations.
- Property transfer: Transfer of property is relatively easy for offshore companies in Samoa. Although whenever a property is sold, the authority will charge a certain percentage of the value. However, the owner can avoid it, only in case the company itself is sold.
- Bank account: To facilitate smooth operations, many local and international banks provide the facility of bank accounts for offshore corporates.
The lucrative tax benefits and ease of setting up the business, the offshore regions of Samoa have become the hot spots. Many small, as well as established businesses, are making the most of the potential offered by the United Arab Emirates. If you wish to tap the opportunities and reap profits, now it the right time for Offshore company incorporation in Samoa through Sageoffshore.