SAMOA (SOUTH PACIFIC)
INTERNATIONAL BUSINESS CORPORATIONS (IBC)
 

SOCIAL AND ECONOMIC INDICATORS

» LOCATION

South Pacific equidistant from Honolulu and Sydney and immediately east from the international date line

» SURFACE AREA

2,934 square kilometers, which comprise two big and seven small islands

» POPULATION

178,173 (July 2003 estimate)

» CLIMATE

Tropical

RELEVANT ELEMENTS OF SAMOA

» Excellent corporations law

» Flexible corporations law.

» There are no taxes on international or banking

transactions

» There are no foreign currency control regulations

» Political and economic stability

» Excellent communication systems

» Qualified personnel

» No taxes on capital earnings, income, or any other type of

taxes

COMMERCIAL TRANSACTIONS

International Companies can engage in any licit business in any country and carry out transactions in any currency they choose

DIRECTORS/DIGNITARIES (SECRETARIES), AND SHAREHOLDERS

» Shareholders, directors, and/or dignitaries can be natural

or juridical persons

» The registry of the initial or subsequent changes in

directors and/or dignitaries is not required

» Directors can grant general or special powers of attorney

» Directors registry is optional and can be held in any part

of the world

» Companies are allowed to have a sole director

» Directors or dignitaries need not be shareholders

» Only one subscriber is required; subsequently only one

shareholder is required

» Shareholders, directors, and dignitaries can be of any

nationality and residents of any country

» Shareholders and/or directors meetings can be held in any

country and they can participate in them via a power of attorney or via any electronic means such as telephone, fax, etc.

» The designation of at least one secretary is obligatory

REGISTRIES

» There is no need to neither present nor register annual

accounts

» The books, registries, and certificates of the company can

be kept in any place or country that the directors choose

USE OF INTERNATIONAL BUSINESS CORPORATIONS OF SAMOA

» Titleholder of bank accounts, fix-term deposits,

investment projects, and any other financial or commercial title

» Proprietor of shares of other corporations or legal entities

» Proprietor of apartments, houses, buildings, ships, or any

other assets, chattel or real estate

» Administrator or promoter of international commercial

transactions

» International leasing of vehicles, machinery, ships, and

other

» Ideal instrument to give or receive money in loan, pay or

receive commissions, royalties, and other revenues

» Marketing and promotion of products and services

» Other commercial and financial activities

COSTS AND HONORARIES

Reasonable incorporation and maintenance costs (annual license is US$300.00 independently of the amount of the share capital)

» OFFICIAL LANGUAGE

English and Samoan

» GOVERMENT

Parliamentary

» STANDARD OF LIVING

Comfortable

» BANKING

International banking systems available

» CURRENCY

Samoan Tala

» INDUSTRY

Food processing, construction materials, and automotive parts

TAXES

Tax exemption on any commercial activity or transaction carried out outside Samoa

AUTHORIZED CAPITAL / SHARES

» Nominative or bearer shares are issued, as the shareholder wishes

» Loans and other encumbrances on shares are optional and can be registered

if desired

» Bearer shares do not need to be paid in order to be issued

» Absence of minimum or maximum capital requirements

ANNUAL TAX DECLARATIONS

It is not obligatory to present annual performance declarations or reports

INCORPORATION AND ADMINISTRATION

» Ample availability of company names for incorporations

» Familiarity with incorporation documents (Corporate Charter and By-Laws,

and Incorporation Certificate)

» The words "Limited", "Corporation", "Incorporated", "Berhad", "Société

Anonyme", "Sociedad Anónima", "Naamloze Vennootschap", "Besloten Vennootschap" or "Aktiengesellschaft", or the abbreviations "Ltd.", "Corp", "Inc.", "Bhd", "S.A.", "N.V.", "B.V." or "A.G." can be used as part of the name of the company

» Incorporation documents can be drafted in Spanish or in any other language

and accompanied by its English translation

» Corporation names can be incorporated with Chinese characters, as well as

Cyrillic alphabet or any other forms of accepted language (together with its English translation or a Romanized version)

» Expeditious incorporation process and simple administration

» Incorporation process takes between 2 to 3 days

» Incorporation certificate issued in only 24 hours

» The Public Registry of Samoa is equipped with a modern and sophisticated

computer system that increases the speed and efficiency of the processing of documents

» Administration is relatively simple if the activities of the corporation are not

complicated and carried out outside of Samoa

» Corporations in reserve available

REGISTERED OFFICE, CORPORATE SEAL, AND LEGALIZATION

» It is required that the Registered Office be located in Samoa

» Corporate seal is optional

» The Apostille is the method usually employed for the legalization of

documents. Consular legalization are also available for some countries

REDOMICILIATION

Corporations of other jurisdictions can be redomiciled to Samoa

CORBETTI PEZZOTTI & QUIJANO REQUIREMENTS

» Adequate references of moral solvency and other due diligence documents,

as they are required

» Directors and Dignitaries from Corbetti Pezzotti & Quijano can be

appointed

*Information courtesy of MOSSACK FONSECA & CO.