Approval Procedures

It is our intention to make the approval procedures transparent to all our clients. The steps you will find immediately below outlines the procedures that we follow when assessing projects.

1. Application Forms

Any potential investor or an existing investor must begin by completing the application form. The Investor must clearly state the nature of the project, costs involved and other relevant information as requested.
The application fee is based on the total investment cost. It should be paid in cash directly to the Vanuatu Investment Promotion Authority.

Total Investment Cost	Application Fee
< 10 million Vatu	15,000 Vatu
< 50 million Vatu	25,000 Vatu
> 50 million Vatu	50,000 Vatu

New Application Form 1

• Relevant Application Fee – payable by cash
• Copy of Passports held by potential Investors
• Registered Certificate of Incorporation (VFSC)
• Bank Reference of VT.5 million from local commercial bank
• Copy of Police Clearance
• Cash Flow/Profitable for the next years
• Details of Work permits required
• Environment Impact Assessment if appropriate
• Signed Statutory Declaration

Private Investor Application Form 2

• Relevant Application Fee – payable by cash
• Agreement of sale between the two parties
• Copy of Passports held by potential Investors
• Copy of Police Clearance from state of origin
• Bank Reference or proof of investment related assets of Vt.5 million
• Letter of support from Residence director
• Signed statutory Declaration

Renewal Application Form 3

• Relevant Application Fee – payable by cash
• Copy of existing business license
• Copy of VAT Annual turn over (if applicable)
• Incomplete Application form will not be accepted

Variation Application Form 4

• Relevant Application Fee – payable by cash
• Copy of existing usiness license
• Budget/cash flow forecast for the next three years
• Work program for the next three years
• Number of additional staff required

Minimum Investment Cap

In accordance with the Immigration Act, all investors are subject to the VT5 million minimum investment requirement.

The minimum Investment acts as a guarantee to the Vanuatu Government, demonstrating commitment by the foreign investor to do business in Vanuatu. This is clearly stated in Part 2 Section 3, subsection (ii), (iii), g in the Immigration Act Cap, 66. The VT5 million requirement can be held in either cash or assets. However, in assets form, the Immigration Department will only accept certification from a recognised law firm, accounting firm or from a local domestic bank.

>Once certified the investor is free to use the funds towards the approved investment.

2. Project Assessment

The Secretariat must assess the project using the criteria of the VIPA Board. If the project is incomplete, it is the duty of the Secretariat to request more information from the project proponents. In the situation where a proposed projects has overlapping issues with other Government Departments, the Secretariat must make immediate consultations and request their input regarding the project.

3. Submission to the VIPA Board

Upon assessment, the Secretariat shall make recommendations to the Board regarding the project base on the relevant criteria. The Board shall make its independent decisions on the basis of the Secretariat recommendation.

4. Granting a VIPA Certificate

A VIPA approval certificate must be issued by the CEO within 7 days of the date of the Boards meeting, and will remain valid for a period of 12 months from a date to be specified in the Certificate. The VIPA Certificate shall outline the typology of Business being undertaken, the number of residence and work permits and the Business licence Category, as well as the place where the business will be conducted.

Please contact us for information relating to the VIPA certificate.