Published
Sep 4, 2023
Updates:
Dec 3, 2024
Tuvalu
Price:
Delivery:
Legal forms:
Payment methods:
4 weeks
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Document checklist:
1.Passport
2.Proof of Residence
Requirements:
Local legal address (Handled by B2B Hub)
Tuvalu
$
1100
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Location
Capital
Official languages
Population
Currency
ISO 4217
Funafuti
Tuvalu
Tuvaluan, English
11,396
TVD
Tuvaluan Dollar
Delivery
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Certificate of incorporation
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Articles of association
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Meeting minutes
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Company stamp
Certificate of incorporation
Company stamp (By stempil.com)
Registration documents and guidance
FAQ for company formation in Tuvalu
FAQ for Company Formation in Tuvalu:
1. What is the minimum number of shareholders required to form a company in Tuvalu?
- At least one shareholder is required to form a company in Tuvalu.
2. What is the minimum number of directors required to form a company in Tuvalu?
- At least one director is required to form a company in Tuvalu.
3. What is the minimum share capital required to form a company in Tuvalu?
- There is no specific minimum share capital required to form a company in Tuvalu. However, it is recommended to have a share capital of at least AUD 1,000.
4. What is the process for registering a company in Tuvalu?
- The process for registering a company in Tuvalu involves submitting an application to the Registrar of Companies. The application must include the company name, the names and addresses of the directors and shareholders, the company's objectives, and the proposed share capital.
5. How long does it take to register a company in Tuvalu?
- The registration process usually takes around 7 to 10 days, provided that all the necessary documents are submitted.
6. What are the tax implications of forming a company in Tuvalu?
- Tuvalu has a low-tax regime with no income tax, capital gains tax, or withholding tax. However, companies are required to pay a 2.5% Business License Fee on their gross annual turnover.
7. Can a foreigner form a company in Tuvalu?
- Yes, foreigners can form a company in Tuvalu.
8. What are the annual compliance requirements for a company in Tuvalu?
- Every year, companies in Tuvalu must file an annual return with the Registrar of Companies. They must also keep accurate accounting records and prepare financial statements.
9. Can a company be registered with a foreign address?
- Yes, a company can be registered with a foreign address. However, a registered agent must be appointed in Tuvalu who has a local address for communication purposes.
10. What are the restrictions on company names in Tuvalu?
- Company names that are identical or similar to existing company names or trademarks cannot be registered. The name must not contain any offensive or illegal terms.
"Tuvalu is a small island nation located in the South Pacific Ocean. It has a population of just 11,192 people and a total land area of only 26 square kilometers. Despite its small size, Tuvalu has a vibrant economy that is largely based on fishing and tourism.
The GDP of Tuvalu was estimated to be $37.2 million in 2019, with a GDP per capita of $3,320. This is a significant improvement from the GDP per capita of $2,890 in 2018. The main sources of income for Tuvalu are fishing, tourism, and remittances from overseas workers. Fishing accounts for around 40% of the country’s GDP, while tourism and remittances make up the remaining 60%.
The unemployment rate in Tuvalu is estimated to be around 8.5%, which is lower than the global average of 5.7%. The inflation rate in Tuvalu is also relatively low, at 1.2%.
The government of Tuvalu has taken steps to diversify the economy and reduce its reliance on fishing and tourism. It has implemented a number of initiatives to promote the development of small businesses and encourage foreign investment.
Overall, Tuvalu has a small but vibrant economy that is largely based on fishing and tourism. The government is taking steps to diversify the economy and reduce its reliance on these two sectors. With the right policies in place, Tuvalu has the potential to become a prosperous nation."
Taxation in Tuvalu:
- There is no corporate income tax in Tuvalu.
- Personal income tax is levied at a flat rate of 20% on all income earned by individuals.
Tax Payment and Calendar:
- The tax year in Tuvalu runs from January 1 to December 31.
- Taxpayers are required to file an annual tax return by March 31 of the following year.
- Tax payments are due within 30 days of receiving a notice of assessment.
- There are also various other taxes in Tuvalu, including import duties, value-added tax (VAT), and excise taxes.
It is worth noting that Tuvalu's tax system is relatively simple, but compliance can still be challenging for businesses and individuals. Additionally, there is limited information available publicly on the tax system in Tuvalu. It is recommended to consult with a tax professional familiar with the specific circumstances in Tuvalu for personalized advice on tax matters.
Application without registration
The first director
The second director
The third director
The first shareholder
The second shareholder
The third shareholder
Articles
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