How to start an International Company in Samoa (Samoa IC)?

Samoa, officially the Independent State of Samoa, is a Polynesian country located in the central part of the Pacific Ocean. Samoa consists of two main islands (Savai'i and Upolu), and several smaller islands.

Even though the predominantly indigenous population in Samoa is Polynesian, English is the second official language thanks to the presence of the British in the islands. On top of that, Samoa is a famous financial hub, attracting investors from all over the world to come and form Samoa International Companies.

Samoa is a famous jurisdiction for offshore companies

What are the advantages of registering a Samoa International Company?

A Samoa International Company (Samoa IC) is a company that is registered in Samoa and involved in trading of goods and/or services to other nations. It is similar to an International Business Company (IBC) found in many offshore companies' jurisdictions around the world.

The Central Bank of Samoa is fully liable for monetary policy and controlling all business activities of offshore companies in Samoa.

The local currency is the Samoan Tala (WST). In contrast to Samoa residents, foreigners are not subject to currency control by the state.

In addition, foreign investors setting up a Samoa International Company will be beneficial from following advantages:

• 100% foreign owned.
• Strong asset protection: The Samoa International Companies Act of 1987 (amended 2014) is considered one of the best Asset Protection laws in the world. It provides for the possibility of transferring the company's assets to another person under "special events".
• Free taxes: Samoa International Companies are exempt from all taxes in Samoa. These taxes include: income tax, corporate tax, capital gains tax, stamp duty, estate tax, inheritance tax.
• Only one shareholder/director: Only one shareholder/director is required for forming a Samoa IC.
• High-level of privacy: Names of shareholders and directors are not publicly disclosed. You can rest assured that your Samoa IC’s information is absolutely confidential.
• No mandatory audits or filings: Financial statements and audits are not compulsory. Tax returns are not required.
• No minimum required capital: Authorized share capital is only US$1.
• Affordable costs: Low costs of company registration and annual payments.
• No annual meetings: Samoa ICs do not need to hold annual meetings.
• Samoa is not included in the OECD and FATF black lists (which means it has a good reputation).

Traditional economic orientation for the Pacific region - which includes agriculture, fishing and tourism - is also a remarkable characteristic of Samoa. Tourism accounts a major part in national GDP with about 25%.

4 steps to register a Samoa International Company with One IBC Group

Registering a new Samoa IC is not complicated. However, for an international company, you should consult with professionals to make sure you can comply with the country’s laws and regulations, as well as save time and money.

Generally, there are 4 steps to register a Samoa International Company with One IBC:

Registering a Samoa International Company is quick and simple

Step 1: Prepare for registration

Our advisory team will give you pre-advice about Samoa International Company about your company structure, taxation policy, and business name. In Samoa, there are some regulations regarding company names that foreign businesses must follow.

You shall need to give 3 proposed names. The advisory team will check if the name is available for usage. Below names are not approved for a new Samoa International Company:

• Company name is identical or almost identical to the name of another company; or
• It is considered to be offensive by the Registrar; or
• contravenes regulations made under this Act in relation to company names.

Step 2: Provide your Samoa International Company details

You will provide us the information of the company’s director(s)/shareholder(s), along with the shares ratio.

Select additional services (if any) for your Samoa International Company: we offer account opening service, nominee service, Intellectual Property & Trademark registration, serviced office, etc.

Step 3: Make the payments

Once you have completed the above steps, you can make an order and pay us the service fees. We accept payment with various payment methods, including:

• Bank wire transfer: This is the most common way to make your payment. A list of various banks is available here for your reference.
• Credit/Debit card (Visa/ Master/ Amex).
• Paypal accounts.

When we receive your full payment, One IBC shall register your company with the Registrar of International and Foreign Companies in Samoa.

Processing time: About 2-3 working days for normal cases. You can also select an urgent time frame - which can be processed and completed in 1 working day only from the date of payment.

Step 4: Receive your company kit

When your Samoa International Company is successfully registered, Your company's original documents will be sent to your provided address via postal mail (DHL/ TNT/ FedEX). It may take from 2-5 working days from the date your Samoa IC is incorporated.

Upon the completion of incorporation, your Samoa IC is now ready for business.

One IBC will always be a trustful partner on your way of doing offshore business

Conclusion

With the support from One IBC, Samoa IC registration has never been easier. Setting up a Samoa International Company is one of the simplest and cheapest ways to expand your business overseas.

On one hand, the country has good trading relations with other nations. On the other hand, setting up a Samoa IC facilitates businesses to build versatile relationships with residents of Samoa state.

We will help your Samoa Company Formation within the shortest time and lowest costs possible. Please do not hesitate to contact us by calling our Hotline or emailing us. We hope you will achieve big recognition on your way of doing international business.