Hooray … we got it … approval to operate our Divi’s business in Vanuatu.
The Vanuatu Investment Promotion Authority approved our application submitted on 11 February 2016. Submitting the application, we explained we would be back in Australia when VIPA made the decision, and asked if we could be emailed the outcome. We were told that would be fine.
The application stated VIPA can take up to 15 days to process. Applying 15 working days, we hoped an email would arrive by Thursday 3 March 2016. No luck.
We left it another week before calling VIPA from Australia on 10 March 2016 to be advised approval was granted on 23 February 2016 … “island time”. I asked for an email copy of the approval which we received later that day.
Step 1 done and dusted!
Darleen and I have been living this adventure since July 2013. This was a big positive step. Now the intensity is increasing day by day … we love it.
We have started on Step 2 – Residency Permits.
Even through the resident permits have been granted through the VIPA process at Step 1, we are still required to submit an application through the immigration department: answer lots questions, provide copies of our passports, provide passport photos (2) for both of us, deposit a security bond that holds two return airfares (just in case they want to kick us out), marriage certificate, divorce certificate, police check, and medical check.
Residing and operating a business in Vanuatu, we are going to have ongoing annual costs:
- VIPA renewal VT60,000 AUD$750
- Residency renewal
- Darleen VT57,600 AUD$720
- Scott VT57,600 AUD$720
- Work Permit
- Darleen VT210,000 AUD$2,625
- Scott VT210,000 AUD$2,625
- Business License VT100,000 AUD$1,250
ANNUAL VT695,200 AUD$8,690
But, no company tax or income tax!
I will be in Port Vila again from 3-8 April. This trip:
- Submit residence applications
- Submit building application
- Visit Vanuatu Tourism
- Meet our preferred builder (once we have decided)
- Sort a land surveyor and building engineer
- Find a jetty builder
- Buy a car (if I can find a suitable one).
Getting closer …