Features of Samoa International Companies (ICs)
- ICs may engage in any lawful business and may carry on transactions in whatever currencies they choose.
- Full exemption from taxation for any business activity or transaction carried out outside Samoa.
AUTHORIZED CAPITAL / SHARES
- Bearer shares are allowed, but subject to custodian services.
- No paid-in capital is required.
- No minimum or maximum capital requirements.
DIRECTORS, OFFICERS (SECRETARY) AND SHAREHOLDERS
- Shareholders, directors and/or officers can be either corporate entities or natural persons.
- Initial or ongoing changes in directors and / or officers need to be filed on the Register of Director(s) and Officer (s), and a copy must be kept at the registered Office in Samoa.
- The directors may grant special or general powers of attorney.
- Companies are allowed to have a sole director.
- Neither the directors nor the officers need to be shareholders.
- Shareholders, directors and officers may be of any nationality and may be resident of any country.
- Shareholders and directors may hold their meetings in any country and may attend such meetings by proxy or by any electronic means (phone, fax, etc.)
- The appointment of, at least, one secretary is mandatory.
- No requirement to file annual returns or profit tax.
INCORPORATION AND ADMINISTRATION
- Excellent availability of company names for incorporation.
- Familiarity of incorporation documents (Memorandum & Articles of Association, Certificate of Incorporation) because Samoa’s legal system has its foundations in English and Commonwealth statutory law.
- The word “Limited”, “Corporation”, “Incorporated”, “Berhad”, “Société Anonyme”, “Sociedad Anónima’,”Naamloze Vennootschap”, “Besloten Vennootschap”, “Gesellschaft mit beschrankter Haftung” or Aktiengesellschaft”, or the abbreviations “Ltd.”, “Corp.”, “Inc.”, “Bhd”, “S.A.”, “N.V.”,”B.V.”, “GmbH”, or “A.G.”, must be used as a company’s name ending.
- Incorporation documents may be drafted in Spanish or any language and submitted together with an English translation.
- Company names can be incorporated in Chinese characters and other accepted language forms (together with an English translation). Certificates of incorporation in English with Chinese characters are currently being issued.
- Speedy incorporation procedure and simple ongoing administration.
- Incorporation Procedure takes from 2 to 3 days
- Certificate of Incorporation in 24 hours.
- The Samoa Registry is equipped with modern sophisticated computer equipment improving speed and efficiency in the processing of documents in a timely manner.
- Relatively simple ongoing administration if activities of the company are not complicated and take place outside of Samoa.
- Shelf companies available.
- The company’s accounting books, records and minutes may be kept in any place or country chosen by the director.
- No requirement to keep or file annual accounts.
REGISTERED OFFICE, CORPORATE SEAL AND LEGALIZATION
- Registered Office must be located in Samoa.
- Corporate seal is optional.
- The Apostille is normally used to legalize documentation. Legalization via a consulate is also available for some countries.
COSTS AND FEES
- Reasonable formation and maintenance costs and fees.
- Foreign companies can be speedily continued to Samoa.
USES OF SAMOA INTERNATIONAL COMPANIES (ICS)
- Holder of bank accounts, fixed deposits, investments plans and any other financial or commercial title.
- Owner of the shares of other companies or legal entities.
- Owner of apartments, houses, buildings, vessels and any other movable or immovable property or goods.
- Manager and promoter of international business transactions.
- International leasing of vehicles, machinery, vessels and others.
- Borrowing or lending money, paying or receiving commissions, royalties or other.
- Marketing and promotion of products and services.
- Other commercial and financial activities.
HIGHLIGHTS OF SAMOA
- Excellent corporation law.
- Flexible company law.
- No taxes levied on offshore and banking transactions.
- No exchange control regulations.
- Political and economic stability.
- Excellence hotel accommodations.
- Excellent worldwide communication facilities.
- Skilled personnel.
- No capital gains, income or other kinds of taxes.
DOCUMENTS REQUIRED TO BE KEPT AT THE REGISTERED OFFICE (SAMOA), IN ACCORDANCE WITH THE LAW
- The following information/documents are required to be kept at the registered office. Same will not be filed at the Samoa Registry.
- Appropriate character references and other due diligence documents, as required.
- Complete and updated original or a copy of register of members shall be kept at the registered office, with the information of the name(s) and address (es) of the members.
- Complete and updated original or a copy of register of directors and officers shall be kept at the registered office, with the information of the name(s) and address (es) of said directors and officers.
SOCIAL AND ECONOMIC INDICATORS
|Location||Southern Pacific Ocean equidistant between Honolulu and
|Area||2,934 square kilometers, which comprises two large islands
|Population||219,998 (July 2009 Est.)|
|Official Language||English and Samoan.|
|Banking||Worldwide banking facilities available|
|Legal Tender||Samoa Tala|
|Industry||Food processing, building materials and auto parts.|